New Generation Entrepreneurs – The Evolving Species

Gone are the days when aspirations of the younger generation were limited to doctors, engineers, lawyers and other such professions. Today off beat and less trodden paths are much preferred by the Gen-Y group. Some of the most popular choices of today are – fashion designing, interior designing, marketing, research, analytics, finance-related professions etc. But the most surprising element in almost every person today is the urge to break free from the shackles of a daily job and to be one’s own boss.

Being a decision maker and one’s own boss gives immense pride to every individual and thus the spirit of entrepreneurship is ignited in their minds. More than just the perks of flexible timings and decision, it is the happiness of pursuing one’s own interest, doing something that they love that enthralls this group. The business ideas that have arisen over the past few years are proof enough for this. From a mobile burger shop to a great social networking site which has become an integral part of our lives were all initiated by such groups of dynamic youngsters.

Initially business was the most risky path to choose since returns would take a very long time and the rise of a businessman had enough material for a Bollywood movie. Mobilizing of funds, applications and approvals of government organizations, recruiting of personnel, and space for work everything seemed to be herculean tasks. But today there is a complete wave of change. The climate is entrepreneur-friendly with more investors ready to provide funds, more laws supporting new business and with a drastic change in the rules and regulations governing the country. Moreover business is no longer a taboo, but the sign of growth and accolades and hence is supported by family as well.

The advent of such investors has helped the entrepreneur also earn along with the employees. So the risk of financial constraint also is eliminated. Once upon a time the story of an IT giant starting from a 2 BHK with Just INR 10,000 and a five-member team was the greatest fairy tale success but today with changing times, there are so many ideas getting scribbled over  cups of cappuccinos’ and frappe lattes , these ideas are later famed to million dollar businesses.

Young entrepreneurs just need to be at the right place at the right time, identify the right prospects for their business. Meticulous planning is the hero of the moment. Multiple players in the same genre of business also find success, since change and innovation is something most sought after these days.

If you are really passionate about a business idea, even if it is on the most trodden track, the way to win is to bottle it, brand it in a different way, market it in a different way and then sell it. The cash box may not be up to the brim immediately, but it will definitely start jingling. If your idea is on a less trodden and rather unexplored path rest assured you are on the way to success and fame. The mantra is “try and retry,” but ensure every trial is a new innovation so that at the end of the day your business will definitely be “out of the box”.

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