What’s common between Mark Zuckerberg, Dhirubhai Ambani, Bill Gates, Azim Premji, Steve Jobs and Narayan Murthy? Yes, they’re all very rich. But what’s more important is that you know them by the names of their businesses rather than their own names – Facebook, Reliance, Microsoft, Wipro, Apple and Infosys. And that’s the mark of a great Entrepreneur.

Who is an Entrepreneur?

Entrepreneurs are people who create and run a business and look after its day to day operations. They are innovators who come up with ideas that have the potential to change the course of industries and sometimes, the world. Entrepreneurs come up with the new ideas for products, services and processes. They live life on their own terms and are willing to take risks and go to any extent to turn their ideas into successful businesses. They have the ability to spot opportunities and then find ways to turn an opportunity into a profitable enterprise. Entrepreneurs are people who see beyond the established norms and prejudices; they are always a part of the solution, never a part of the problem.

The world has always been witness to great Entrepreneurs. Thomas Alva Edison (General Electric), Henry Ford (Ford Motor Co.), Walt Disney (Disney) and Ray Kroc (McDonald’s) were people that have established their names in the list of the best Entrepreneurs of all – time. They came up with ideas that nobody else could think of, believed in those ideas when the world didn’t and created successful businesses from scratch.

Essentially, Entrepreneurs are responsible for running the business. They come up with ideas, turn them into businesses and then manage those businesses to generate revenue. They manage businesses and employees and help create an atmosphere where profits are maximized while keeping the customers happy. They have a knack of identifying the potential of an idea. Entrepreneurs study the market and use that knowledge to create products and services that they think are in demand. In simple words, Entrepreneurs know what to sell, and how to sell.

Find out about the Top 7 Money - Making Careers.

How do you become an Entrepreneur?

Becoming an Entrepreneur is not a step by step process. Most people just end up becoming Entrepreneurs by coming up with the right idea at the right time. Almost all of the successful Entrepreneurs had no idea that their businesses would become so big. They were driven by passion rather than a thirst for money. All they wanted to do was to create something they had in mind, and that desire was far greater for them than the desire to be rich or successful.

Every entrepreneur has a different story and each of them became successful in their own individual ways. However, most people became Entrepreneurs by consciously or unconsciously being a part of either of these two ways:

The first way is to come up with an innovative idea and market it to create a successful business (Facebook).

The other is when they spot a demand in the market which has not been catered to, and then create an idea that will fulfill that demand and become a successful business (Wal-Mart).

Regardless of the path through which they became Entrepreneurs, all of them had a genuine desire to innovate, to challenge established norms and to give life to their idea. What kept them going was their passion, commitment, self – belief and perseverance. In spite of all odds, they never lost faith in their idea or in their ability. They pursued their interests in the field they liked, spotted opportunities and made it big in life.

To become an Entrepreneur, you do not need money. You need an idea, yes. But most importantly, you need the burning passion, an unyielding drive to convert the idea into reality. The best of businesses have been made by a blinding passion to bring an idea to life, not by the desire to earn loads of money. If you want to run your own business someday, then remember that having a lot of money will not make it successful, having a good idea and great execution skills will.

5 Tips That Can Help You Become a Successful Entrepreneur:

Pursue your Interests.

In order to become a successful Entrepreneur, you need to follow your interests. You can become an Entrepreneur in any field, from Medicine to Sports to Art. Carry on with your studies and careers normally. It is most likely that you will get your ‘idea’ while working in the field you’re interested in as it will help you explore opportunities.

Always believe in yourself.

You can never become a successful Entrepreneur if you lose confidence or belief easily. If you genuinely do believe that you’ve got an idea that has the potential, then keep working at it to turn it into a business. You will never know until you try.

Start working!

The single most important thing you need to do as an aspiring Entrepreneur is to get down to the nitty – gritty of the business and get the ball rolling. No matter what scale, but start the business. You’re never going to get the dream start you’re hoping for. Don’t just talk about your idea, turn it in to a business.

Keep innovating and improving.

Innovation is the mark of a great Entrepreneur. Rarely do entrepreneurs get it right the first time. Always find new ways to do things as there is always a better way. Starting a business is not enough. Work towards excellence. Keep finding ways through which you can improve your idea/business/product or service.

Know when to call it quits.

Not every business makes it big. As a matter of fact, most fail. All those businesses were run by Entrepreneurs who thought they had a great idea. But it didn’t work, and that’s the reality of business. Sometimes the timing is not right, sometimes the idea isn’t. As an Entrepreneur, you need to know when to stop trying, and move on to something else. If you genuinely have it in you, then you will become successful, in one way or the other. Remember, most successful entrepreneurs failed in their first venture.  

General Management

Entrance Exam


Steve Jobs, chief executive officer and co-founder of Apple Computer and of Pixar Animation Studios, urged graduates to pursue their dreams, follow their interests & curiosities and see the opportunities in life's setbacks-- including death itself.