The Wave Of Entrepreneurship Booms

There is no scope of doubt in the fact that there has beeen a rise in the amount of businesses opening up. However, the percentage of profitable, sustainable business is still questionable. Ever since the pandemic hit, the masses have understood the significance of self-reliancy.

People have started to invest a greater part of their time in upskilling themselves. After all, entrepreneurship and learning go together without saying. Building a business from the comfort of the house was now made possible because of the hike in digital communications!

Starting a business is not everyone's cup of tea. It is the need of the hour for some, while for others, it is a journey which they are meant to embark on. There are so many founders who have taken the path of business just for the love of innovation. Sundar Pichai and Bill Gates are just a few of the great ones to mention, but there are a lot others who took up entrepreneurship after working all their way to the top!

How do we gauge that the wave of Entrepreneurship has spiked?

It would not have been possible to know about so many people pursuing business if there were no media coverage for the same. The shows like Shark Tank India, which is inspired by Shark Tank US, really has resulted in people shifting their mindset about business as a profession.

Earlier, the thought of doing any sort of business used to be a factor bringing shame to the family name. An activity that was considered a humiliation, has now become an upward growing trend. People have started considering it as a career option and that a respectable one too! There are a lot of people for whom changing their set ways of thinking still feels impossible, however, slowly yet steadily, things are changing, from worse to better and for the best! Having said that, doing a business is not for the faint-hearted as well! A businessman is often referred to as the 'captain of the ship.' He is responsible for the safety of all its passengers/employees.

Hence, there are many who start off their journey however, only a handful of the many, see it through the end. Online companies have been started in the lockdown but not everyone could keep it afloat through all the hardships. There are many factors that are to be held responsible for the downfall of a company however if the founder is determined to keep going, there is nothing to stop him from achieving the success he desires.

A lot of mental strength and grit is required for the individuals pursuing this strenuous ongoing journey. The spirit of business does not have the understanding of retirement. There is no age limit to explore and pursue a business opportunity. The only prerequisite is that you are willing to give it your all until you don't win. One such brand that began in lockdown is truly an example to justify the statement made above. Avimee Herbals, a personal care brand was started as a result of the undying passion of an 80-year elderly for Ayurveda. Combining modern technology with ancient science, this brand's products are promising in nature.

There needs to be a product-market fit as well for your product to succeed. It is essential. Businesses who have a vision by either providing a solution for an existing problem in the market or are selling on the promise of providing luxurious comfortable experiences are more likely to appeal to the masses.

The economy of a country also sees a massive difference with more ventures opening up. It leads to the increase in employment opportunities thereby dropping unemployment rates and reducing poverty. Individuals in business need to be open to adapt to situations as they come by, they must be flexible in their approach. An entrepreneur's determination, grit and resilience makes all the difference in making the business a success story.