How to make Entrepreneurship as a career option?

Entrepreneurship as a career option:

Untill some time ago, most Indian families and youth especially thought of some safe government job or a lucrative job in the world as a career option. However, the scenario is not the same anymore. As per a survey, about 83% of youth think of entrepreneurship as a possible career option. Although the interest has definitely increased, the success rates are still about the same, 5 to 6%. So before taking the intrapreneurial plunge, youth ask themselves, should entrepreneurship be a career choice for me?

Financing option for startups:

 so you have decided to be an entrepreneur. You have a vision and a business plan ready too. Now, what next? You need to get funds for your startup. To finance a startup, they are major to different ways

1) Equity financing:

this means raising finance in a startup against a share of the equity. This is you get funds but use some equity, and the one who is funding becomes co-owner of your startup, having a share in total quality.

There can be two different types of equity financing:

I) Angel investors:-

The capital Angel may provide a one-time investment to help propel the business, inject funds on an ongoing basis to support and carry the company to its difficult early stages.

II) venture capitalist/private equity:-

This is the option for larger investments. Venture capitalists are companies that raise funds from various sources and use the purpose to fir fund startups. They are ready to invest in small businesses funding young, unproven companies with a great idea and great management team.

2)Debt financing:

this is the way of raising finance for your start-up through debts from different financial institutes.

There are generally three types of debt financing:

I) Loan from bank and NBFCs:-

Banks and non-banking finance companies grant loans for startups against the fulfillment of some rules.

II) External commercial borrowings:-

Points can also be obtained from nonresident lenders, commonly called external commercial borrowings.

III) Venture debt:-

It is a type of debt financing and provides to venture-backed companies by specialized banks or non-Bank lenders to find working capital or capital expenses, such as purchasing equipment.

Attitude towards the work effort:

How much physical and mental effort I can put in the workplace entrepreneurship demands much investment of work hours and intensity of work effort in the initial stages. Successful entrepreneurs must work long and hard hours and put their new venture ahead of their personal and family life.

Entrepreneurship involves capital investment, and there is no certainty about the income. Also, there is no guarantee if the venture the profitable and how much time it will take to be profitable.

Entrepreneurs have no one to supervise them, correct them or guide them or make decisions for them. Ask yourself do I have a vision for my venture? Am I ready to make crucial decisions that can make or break my ship?

My advice: