The world is full of Opportunities people will select based on their preferences. Money is an important factor in everyone’s life. Money can improve your life to a great extent but it is also a fact that money cannot buy happiness, mothers care. The importance of money in human life is similar to the importance of food for the body. You can’t live even for a few days without food and necessities. To earn money we have to start our own business or enroll in a job.
With the increasing number of students as well as career choices. Students are so confused and struggling to choose the right career path. In that time the students must be careful to choose the right career. They should calculate all the positives and negatives in both streams as well as calculate their strengths and weaknesses. After that, they will decide the right career based on their strengths and weaknesses.“If Opportunity doesn’t knock, build a door.” “Decide what you want, and then act as if it were impossible to fail.”
Now, what is Entrepreneurship? Entrepreneurship is doing new things which are already being done in a new way. According to Richard Branson, Entrepreneurship is about turning what excites you in life into capital, so that you can do more of it and move forward with it.
TYPES OF BUSINESS:
Before we start a firm the businessman decides what type of structure suits their strengths. Business is balanced between profit and loss. If the plan is correct the result becomes Profit. Otherwise, It becomes a Loss. The businessman contains a lot of coordination among people. Research and development, finance, accounting, marketing, safety, and security are all needed to run a good business. Investors and Customers play an important role in the profit of a business. There are 4 types of business and they are
- Limited Liability Companies
Business covers all types like jobs, agriculture, real estate, sports, etc. A successful businessman will get self-satisfaction, self-confidence, and motivation. Nowadays, so many business people will choose E-business. E-business has become popular greatly online business makes it easier because it will run online like payments, product selection, etc.
SUCCESSFUL BUSINESS STORIES:
Earlier he made and sold detergent powder at Rs 3/kg. And now, he is the Founder of the NIRMA group with 18,000 employees, with a turnover-7,000 crores.
He worked as a Medicine/Drug distributor. And Now, he Surpassed Mukesh Ambani as the richest Indian, founder of Sun Pharmaceuticals.
IMAGE SOURCE: exploring India. in
He drove a ‘Tanga’ in Delhi to earn a living which gave him MDH spices, a company worth over 500 crores.
SKILLSET REQUIRED FOR BECOMING AN ENTREPRENEUR:
If you are training yourself to become a successful entrepreneur, there are several essential skill sets that you can develop to increase your entrepreneurial success.
“Every act of communication is a miracle of translation. – Ken Liu”
Effective business communication is essential for the success and growth of every organization and also it is the process of sharing information between employees to progress towards company goals.
“Leadership is the capacity to translate vision into reality.”A leader is important in managing organizational change. An entrepreneur should have a “take-charge attitude” and guide their employees in the right direction for achieving company goals.
“Being creative it’s not a hobby, it’s a way of life.” Creativity is one of the things that every entrepreneur should develop. Lack of creativity could easily drag your business into stagnation mode.
- Time Management
“Take care of the Minutes and the Hours will take care of themselves.” Time management is essential to everyone and more so, to an entrepreneur. So you need to make a To-do-list, to work smart.
- Problem-solving, Logical thinking: For an entrepreneur, Problem-solving and Logical thinking is the most important quality to develop because they deal with products and markets. products and markets change from time to time so an entrepreneur must think deeply, analyze the situation logically, and get profits.
What are the impacts of COVID-19 on Entrepreneurs?
Before covid-19 entrepreneurs did their business at their convenient time. But now the government has scheduled the timings for business works. Small entrepreneurs like street vendors lose their profits because of particular timings and also daily wagers are also affected. Most of the daily wagers lost their jobs and are still struggling to find their earnings.
PROS AND CONS :
Every role has its pros and cons that can be entrepreneurship or a job
- Flexible timing.
- Work what you love.
- More Income.
- Growth and Development.
- To make your own decisions.
- Own rules and regulations.
- Lots of responsibilities.
- Success is not conformity.
- Stress levels are high.
What is a job? A Job is a person’s role in society. A job is an activity or task of people to get money and need their lives. In this world, every person does a job.
For example, A student’s main job is to get good marks in final exams. A homemaker’s job is to cook food for his family members. An employee is doing work and submitting the work in the evening. In this way, every person will carry any job. There are so many fields that people could take up a role to get a good place in society. media, medical, education, agriculture, business, carpentry are some fields.
Basic skill set required for an employee while working in a company:
- Teamwork and Collaboration:
“Teamwork is the ability to work together toward a common vision”. The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results.”
“Communication is about redrawing the clear image in my mind into the minds of others.” Communication plays a vital role in our daily lives and it is an integral part of the workplace. Communication also improves the interpersonal relations within the employees.
- Leadership qualities:
“Leadership is the sum of those qualities of intellect, human understanding, and moral character that enables a person to inspire and control a group of people successfully.” Employees are well rewarded when they take up the initial moves which exhibit leadership skills in a particular situation.
- Dedication/Hard work:
“Success isn’t always about greatness. It’s about consistency. Consistent hard work leads to success. Greatness will come.
Pros and cons for an employee in a working environment:
- No investment.
- Employee Benefits.
- Low risk.
- Low tension.
- Choose work based on your qualification.
- They may take holidays.
- Fixed working hours.
- Less responsibility.
- Slow growth.
- Limited income.
- Limited development scope.
- Rules and regulations.
Entrepreneurship vs job:
When we are comparing entrepreneurs and employees, which is the best?
Entrepreneurs are the best for the following reasons.
- Entrepreneurs don’t have the risk of losing the job but the employee has a high risk of losing the job or firing by higher officials.
- Entrepreneurs have more responsibility and have a higher working time towards organization but an employee has fixed working hours and less responsibility as compared to entrepreneurs.
- According to their decisions and problem-solving skills, entrepreneurs can lose or gain profit while the employee has a guarantee for his income.
Why should skill development be encouraged among students and professionals?
IMAGE SOURCE: digital learning.eletsonline.com
Skills are very much needed nowadays to sustain the markets. Nowadays there are lots of skill development programs conducted by the government for freshers and trained professionals. Skills are highly noticed by recruiters when you are entering a hiring process. You cannot construct a python without learning a python by yourself. Most of the colleges do not focus on the self-development of students but instead, they focus only on academic studies. so the student must develop himself/herself with skills to achieve a good place in their life.
Why do we encourage skill development online?
Pandemic has forced everyone to sit in their homes and also forced major institutions to shut down. Students and professionals are taking up their work in online mode which is a temporary solution for the prevention of the Covid-19 at the same time finishing the academics for the students in time.
E-learning has been in the limelight in the minds of students and professionals recently. Students take up the course online rather than traveling a long distance in this pandemic situation.
Why is Skills Rediscovery the best platform for business-oriented people?
Skills Rediscovery provides the best platform for new learners, students and professionals to learn new skills. Business-oriented people can have practical experience while taking up business courses. Skills Rediscovery also provides the right mentor to guide the learners towards their goals. So Don’t be late to take up your favorite Entrepreneurship Vs Job course in Skills Rediscovery. Happy learning!!