Showing posts with label entrepreneurs. Show all posts
Showing posts with label entrepreneurs. Show all posts

Friday, 8 February 2013

Who Are I st & II nd Generation Entrepreneurs ?



Have you ever thought about Entrepreneurship, If yes then you should also know about First and Second Generations Entrepreneurs. so here is the difference between both in a simple and short article which you like.

First Generation Entrepreneurs :-  Those Entrepreneur which are known for there risk taking ability and who do not have much brand awareness are called I st Generation Entrepreneurs. The I st Generation Entrepreneur have a lot of trust on there gut feeling and therefore there is equal probability of success or failure.

Second Generation Entrepreneurs :- Those Entrepreneurs who are risk averse in comparison to there peers, and they take each step very carefully after research and process, apart from these they are just opposite to I st Generation Entrepreneurs who go by there gut feeling , the II nd Generation Entrepreneurs are also more brand conscious.

Moreover I st Generation Entrepreneurs can even start in a garage or there own house while if you talk about  II nd Generation Entrepreneurs they would at least start working in a small size office since they like to work in process.when the I st Generation Entrepreneurs passes the business(if successful) to II nd Generation Entrepreneurs its the hard-work of I st Generation Entrepreneurs which can be clearly seen when passed to II nd Generation Entrepreneurs on contrary, II nd Generation Entrepreneurs are lucky to get the legacy from Ist Generation Entrepreneurs, because they will not have to much efforts than what I st Generation Entrepreneurs have made in the success of the company.


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Sunday, 27 January 2013

Life Of Pi (8 Lessons For Entrepreneurs)

Life Of Pi which was recently realesed at the end of 2012 was a great success all over the world, it crossed more than $500 million hence it is very much known to everyone. I am taking this movie in order to tell you about certain lessons which it taught us in order make us aware of what life can give us if we are positive enough.
So here are the 8 lessons, specially for entrepreneurs who can co-relate easily with the movie(Life Of Pi)

1) Be Gratefull :- We all have certain feelings that nothing is going to be good and whatever happens, why it happens only to us, this thinking should be changed and you should be grateful of the good memories which life has given you, stay positive.

2)Dont Give Up :- when pi was on the boat and no one was near to him he tried his level best to survive in that hardest situations he came across. Similarly an entrepreneur should not give up during the hardships which are surely not going to last for long.It is important that you should not give up

3)Keep Moving :- When Pi reached an mysterious floating Island, it seemed that he has reached an oasis of land with a abudant food,water and shelter, he did not setteled there he was sure that there is a much better world. In business it is important to keep moving and not get satisfied with temproray success it important to make a goal and try to move towards that goal.

4)Learn To Co-Exist :- Pi survived with a Tiger on a boat by bonding with him in the same way entrepreneurs should learn the way of co-existing with the co-founders as well as with the competitors.

5) Dont Put All Your Eggs In One Basket :- When Pi found Tiger on the life boat, he got scared and threw all the supplies in the lifeboat to a raft and tied it to the life boat and decided to shift to the raft. But a whale appeared one night at Pi’s raft  which made him to throw all his supplies to the water, and then he realized living with a tiger on the boat may be a better option. In the same way while starting up you should not use all the resources available to you at once, the better option is to save some resources.

6)Running Is Important :-When pi was thrown on the lifeboat with limited resources, he found a handbook which guided him about the the lifeboat in which he was travelling. If you are a enterepreneur than handbook is your business plan, its important that you should go with your business plan and work according to it.

7)Branding Is The First Step Of Success :- Pi Patel was born with the name Piscina Molitor Patel, of which everyone started making fun. He started to rebrand his name in a way which do not look awkward when some one calls his name, so he started rebranding his name and he decided to remember the value of Pi expressed in several hundered decimal places to tell that his name is derived from the Greek letter. So for entrepreneurs who is working to create to a new brand name at the cost of existing brand name, work on a good story to tell the audience why the change of brand name was important.

8) Stay Focussed :- Pi’s father says this to Pi at the dining table, when he was getting curious about different religions and wanted to follow all of them at the same time. It’s difficult to follow different paths at the same time, as many of them are conflicting in nature and often create confusion and make it difficult to stay focused and at times, lead to wastage of crucial resources.


Image Curtsey : Silicon India