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Entrepreneurship

 

A lot of successful entrepreneurs have unfortunately fallen prey to depression. While the symptoms may not vary much from conventional depression, company founders have been found to be prone to the same by thirty percent more. This has multiple possible reasons, most pertinent being the fact that many founders are not cut out for entrepreneurship but simply stumbled on to it due to some cutting edge business innovation they proposed and then executed. Some founders may by nature be introverted but be forced to network during fundraiser meets, with industry peers and mange people. Founder depression hurts the business on multiple fronts. Some methods have come up which can help founders cope with this kind of constant stress. First of all, the talent recruitment is critical and such people must be hired who complement founders’ personality traits. The founder has to do some form of research to gauge the signs of depression before they become chronic with themselves or their team members. Finally, a restorative niche as psychologists term needs to be decided upon. This is a zone where the founder can detach themselves to return with renewed vigour.

Source:https://hbr.org/2017/02/how-founders-can-recognize-and-combat-depression?referral=00563&cm_mmc=email-_-newsletter-_-daily_alert-_-alert_date&utm_source=newsletter_daily_alert&utm_medium=email&utm_campaign=alert_date&spMailingID=16590729&spUserID=OTY0OTMwNTk5NwS2&spJobID=961412758&spReportId=OTYxNDEyNzU4S0

 

Social entrepreneurs need mentors to guide them through the tough times and counsel them of effective ways. It helps them avoid the usual pitfalls. Mentors have gone through such initiatives of several other people in the past, and so are aware about the hurdles these social entrepreneurs are likely to face at each stage. These mentors provide the entrepreneurs with the right doze of management training. Mentors are also usually very well connected and can help the subject get in touch with several key stakeholders. This could be useful for securing donors, marketing, strategic partnerships or sourcing final customers even. Mentors will also weed out common execution gaps so the social entrepreneur will be effective in leading people, developing programmes and earning business projects.

Source:http://www.forbes.com/sites/toriutley/2017/01/25/3-reasons-why-social-entrepreneurs-need-a-mentor/#192ca8fd7525

More than the career line chosen, it is important to do well up to one’s abilities in that field. There are some questions that really matter to individuals. It includes the all important question of what makes one happy. Also important are identifying the people whose success can be felt as their own, what are their motivations or what is the impact attempted. Soulful connection and belief in the ultimate goal are also points to ponder aloud. In order to develop an entrepreneurial spirit, six Ps have been identified. It starts with Passion regarding the field. Then there is the Path towards the final goal. A Positive mindset is extremely important. The People in life whose happiness matters most must be set aside. Then there is the Perseverance required to achieve the targets. And finally it is the Productive level that’s most important in order to execute the corporate strategy. It is the relatively mundane stage of using one’s time.

Source:http://knowledge.wharton.upenn.edu/article/cultivating-entrepreneurial-spirit/

 

Google founder Larry Page has shared some of his views on what entrepreneurs must do in order to succeed. They must start off with the best possible talent recruitment and nullify all bureaucracy in the organization. Their actions must be quick to take off and easy to implement. Crazy ideas postulated by the founder must be paid heed to so that the best of these can actually be practically worked on. Learning is constant, so minor tweaks to improve must keep on continuing. While technology will increasingly become important, it must never trump corporate strategy but instead be an aid to achieve the latter. Incremental innovations will have minor business potential. The aim must be to develop substantial innovations. As Page himself was persistent about the Google Maps idea, similarly he falls entrepreneurs must not give up easily until their plans fructify.

Source:http://knowstartup.com/2016/11/success-lessons-from-larry-page-for-entrepreneurs/

 

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