JA Chowdhary has some entrepreneurial advice to share. He is president of The IndUS Entrepreneurs (TiE), Hyderabad Chapter, in India. As you read these, think about how much is similar to your own thinking, and how much is different.
- I would advice the budding entrepreneurs to be innovative. They shouldn’t go after an idea just because it is successful. Sheep mentality is not advisable at all.
- A good idea is the most important thing that is needed.
- They should have the ability to see the future of an idea. They should have a good strategy for future.
- Another important thing is the team. They should have a good team to succeed.
- They should be able to live with the idea passionately.
- There would be ups and downs in the business, but they should not run away when there is a crisis.
- If the team has passion and commitment, even if an idea fails, they can pick up another idea and go ahead. At TiE, this is what we look for when we try spotting an entrepreneur.
We know entrepreneurship is global. After really thinking these ideas through, I can agree with almost all of this, just allowing for the slightly different wording that is probably cultural.
Which points do you agree and disagree with?
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Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.