Psychology of Entrepreneurship

1. Entrepreneurship

2. What is “Entrepreneurship”?
● Process of designing, launching and running a new business.
● It can begin as a small business, such as a startup company.
● Offering a product, process or service for sale or hire.
● Taking risk for your own survival and many other lives too.
● Mode of creating jobs not only by hiring them but also creating a new
demand.

3. Why be an entrepreneur?

4. Why did you take up this
career path?
A specific interest in your field or just
a 9 - 5 job and financial security?

5. Work for No One But Yourself
“If you don’t build your dream, someone will
hire you to help build theirs.” – Tony Gaskins

6. ● Do what you want, when you want
● There is no limit to how much you can
grow with investing
● Work for your own dream
● Take responsibility
● Work for your devoted employees, you
need to take care of

7. But....
Risk taking is almost
synonymous with
entrepreneurship.

8. So are you ready...

9. 1. Abandoning the steady paycheck.
Before you venture into the world of business
ownership, you’ll first have to say goodbye to your
current job, and in some cases, your career. But for
most starting entrepreneurs, the choice is a risky
plunge. There’s no guarantee of your personal income,
especially in the beginning.

10. 2. Sacrificing personal capital, for funding
Some entrepreneurs are able to start their ventures
relying solely on external funding. That usually means a
collection of angel investors, results from crowdfunding
campaigns, etc. But many entrepreneurs also have to
dive into their own bank accounts and personal savings
to get things started.

11. 3. Estimating popular interest.
No matter how much research you do or how many
tests you complete, you’ll never be able to estimate
popular interest in your business with perfect accuracy.
People are somewhat unpredictable.
Even when all the data appears to be in your favor, you
may overestimate the interest in your company.

12. 4. Trusting a key employee.
When you first start a business, you won’t have a full
team of employees working for you. Instead, you’ll
probably have a small, tight-knit group of people
working tirelessly together in an effort to get things up
and running. It is important to trust the right people.

13. 5. Failure
You may put in all that you have, only to end up with no
results. Or the results may take so long to come that
you lose all hope, end up with no money. You may run
into loses for months or years.

14. Scary, isn’t it?
But they say, “If you dream is doesn’t scare you, you
are not dreaming big enough!

15. Too often the risk of letting go and the fear of
failure hinder great things. Realistically, only
a small percentage of people are able to get
past their fear and pursue their dreams on
their own.
Basically, it is decision to live a few years of
your life like no one does, to build a future
others can’t afford.

16. Is education just for the
money?
Through entrepreneurship we can actually come up with
ways to solve world problems and meet our responsibility
towards the society.
Bringing up new idea to solve the common issues.
OUR RESPONSIBILITY

17. How enterpreunership helps the country to
grow….

18. 1. New innovations
In the recent times, we’ve observed the growth of entrepreneurs in the
country due to a boom of innovative ideas. Companies like OYO rooms,
FoodPanda, Zomato have also managed to spread their wings into the
international markets. With more innovations by entrepreneurs in various
fields, the public benefits greatlyand makes lie simpler.

19. 2. Fill gaps in growth and development in the country
Start-ups are essential to bridge the gaps to enhance growth and
development of the country on various fronts. New start-up innovations
cropping up are steady sources of income for the entrepreneur and an
addition to the GDP of the country. Hence, the government aspires to
boost digital start-ups at grass root levels by allotting around INR 2000
crores for this initiative.

20. 3. Reduces unemployment
● In 2015, over 1,50,000 engineering students who completed their graduation
from 650 colleges are unemployed.
● If every single unemployed Indian will contribute in building India, in less than
10 years it will be called as a developed country.
● Today we are using almost all electronics gadgets which are imported from
other countries, instead we can develop our own, utilising our own youth.

21. Government Initiatives
The Prime Minister is highly excited about the Start-up India project which
has almost 2000 crore INR allotted to the cause. Along with that, the
Government also plans to provide budding entrepreneurs with perks such
as legal support for filing patents at free of cost and 80% reduction in filing
patent fee. If the Government eases taxation for start-ups, it’ll be a great
boost to empower the aspiring entrepreneurs who should definitely grab
the opportunity and start more companies in India.

22. Some enterprises that benefit the society
● Joe Miller company, Print a Forest, aims to plant 75 trees for every tree used for
printing on paper.
● Stuart Gold is the founder of the Trashy Bags Project, a social enterprise based in
Accra, Ghana that makes recycled eco-friendly bags.
● Hindol Sengupta is the co-founder of the Whypoll Trust, India’s only open
government platform. Whypoll is trying to improve the communication between
India’s citizens and its government.

23. You can become the change when
you decide that your life can be
something more than comforting
yourself.

24. The very best thing is knowing that
the dreams I live each day are a
direct result of my work — and no
one person or company can ever
take that away.