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Precautions before becoming an entreprenuer

As many as 56 per cent people in a Randstad Workmonitor survey said they were considering leaving their current jobs to start their own business. The survey also revealed that a whopping 83 per cent of the Indian workforce dreams of being an entrepreneur – a figure that is substantially higher than the global average of 53 per cent. 

However, quitting your current position to break out on your own involves a certain amount of risks that not everyone can afford to take. Also, not everyone has the qualities needed to become a successful entrepreneur. That doesn’t mean you have to give up on your dream, you just need to tweak it a little. 

To keep your entrepreneurial spirit alive and continue your job, you just need to cultivate the right mindset. 

Here is how you can be an 'intrapreneur', or someone who innovates, within an organisation.

* A person with an entrepreneurial mindset is quick to spot or seek out opportunities. 

Their mind is attuned to seeing the promise in things and how they can make things better for themselves and others.

How do you spot one? A good opportunity is one that sparks ideas, brings in energy, fits core values and carries its own momentum. 

Look for an opportunity at work that lets you conceptualise and plan things from scratch – a new project or an important presentation – and ask to take charge.

* Taking risk may sound intimidating, but doing it brings big rewards. Risk-taking is an inevitable part of the entrepreneurial journey. So it’s important to learn to weigh/ assess risk and become comfortable with it. But before you make the leap, find out what you are getting into. By doing your research, you’ll gain confidence in your decision-making process as well as your ability to see things through.

Focus on what could go wrong at work and have a Plan B in place, just in case.

* Setting goals and aiming for achievements comes naturally to most entrepreneurs. Most of them tend to be self-starters, think about what’s next and take ownership of outcomes.  But while they work on projects with an eye on the short term, they envisage prospects over the long term. Long-term vision is one of the keys to good leadership, and is an essential ingredient in the recipe for success.

Begin by setting SMART (specific, measurable, achievable, relevant and time bound) weekly goals for yourself and your team at work, and hold everyone accountable by asking for weekly updates.

* Entrepreneurship doesn’t just involve starting up or managing something. Asking questions, giving ideas and sparking conversations that can shift your organisation’s point of view when it comes to a project or decision can showcase your independent spirit and analytical skills.

Understand the level of entrepreneurship your organisation encourages. Take your cues from how others act and what results and projects are praised.

* You may be the best team player on the job, but that doesn’t say much for your entrepreneurial mindset. Most entrepreneurs tend to be creative problem solvers, and apply unconventional tools and approaches to existing challenges. 

Their analysis and assessment skills let them see challenges, opportunities and results when faced with any situation. That said, they expect change and are flexible and adaptable – this is essential when facing setbacks, obstacles or new scenarios. 

Courtesy: content.monsterindia.com

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