"Entrepreneur is often defined as one who starts his own new business. True entrepreneur is one who creates wealth where it did not exist earlier by creating new market and new customer. Entrepreneurs create something new, something different, they change and transmute values and on a size and scale that will impact the society"

An entrepreneur starts with an idea, that idea can be anything, it may be service or a product, but this idea should be innovative. Entrepreneurs should create wealth through their enterprise. This product to be launched or service to be provided should be really innovative if it has to be successful in the market.This new idea can be offered as service or a product either in a new market or creates new customers in existing market.You can think of any idea which can serve to the new customers or to new market.Keep in mind that always your service or your product should impact the society in one or other way either directly or indirectly or it should solve the existing problem. If you start your enterprise then you impact the society directly by creating employment, those employees who work with you and their family get benefited directly by your enterprise and they can improve their existing standard of living by remuneration paid by the enterprise.By starting an enterprise you can increase better standard of living for the people who use your products and services or you can solve the problem.Entrepreneurship may not give you initial security which your existing job provides you but it can create lots of other benefits to you and to the society in the long term.

Why should customer buy your product or service? Customers are very choosy in this competitive world. They look for innovative products or services which will add value to them. You should create such product or service that customers should ready to pay extra premium because of the value creation service or a product does to the customers.

Those businesses which are innovative get instant success in this world. But every entrepreneur thinks that his/her business is innovative, you have huge demand unless and until customers recognize your products and service you can cannot claim that it's very innovative idea. so be very innovative if you would like to really successful.

Entrepreneurship is about following your dreams and working hard with dedication to fulfill all those dreams but not only about creating wealth and serving the society.You can also impact all those stakeholders who are part of your enterprise like employees, investors, vendors, customers, etc. Entrepreneurship is about taking that risk which others hesitate to take. It's all about risking all your stakes to follow your dream and keep working hard until you achieve you desired goal. Absolutely there are possibilities of failure but don't stop at one failed venture, learn from those failures and go ahead to continue your entrepreneur journey.

Failing is part of entrepreneurship journey. according to successful business consultant Michael Shaw who is a business man fail in first five years and only 5% survive after 10 years of their existence, so failing is a part of success. If you have fears for failure then think again to take that plunge.

When you start thinking about making that move and taking the plunge think about what exactly you want to do, what products or service you would like to offer, how you are going to make money out of your business, out of many ideas choose one idea which can really take your enterprise forward. Remember world is so big and according to world bank data population of this world is 7 according to 2011 data. Think about the same time number of entrepreneurs this planet has. Everyone has ideas and lots of people have dreams of becoming next warren buffet, next Steve jobs. but out of all those people how many of them take the plunge to become entrepreneurs who have great ideas? Very few people implement their ideas to start theirs businesses. Lots of people I met always have that fear of not being successful if they start their courage to take the plunge. You should believe in yourself to make that move.

If you think that you are not from business background and you never competed Masters Degree then don’t worry neither Sir Richard Branson nor Mr. Narayana Murthy(Infosys founder) ever went to B school do their MBA. And if you think no one from your family is from business background or education background then also you don’t worry, Kiran Majumdar Shaw’s nor Face book founder mark Zuckerberg families are from business. If you think money is the biggest constraints to start your business then also don’t worry most of successful entrepreneurs started from zero neither they are from rich family nor did they have big funds to start their business. In recent times we are seeing lots of entrepreneurs in their teens and twenties start their companies. The age for entrepreneurship is coming down 3 decades before entrepreneurs were those who had grey hairs and in their mid forties and fifties. But now more and more entrepreneurs are young who has burning desire to make it big, so don’t worry about your age. This young tycoon’s start at their schools, colleges and make million dollars started their journey while being in college take examples of Sir Richard Branson who started his student’s magazine from school. And mark Zuckerberg started his enterprise in college as a part of a project.

Those who succeed in business have acquired their business skills by learning from others and by their experience. Entrepreneurs even learn from their education, environment and innate intuitive abilities. What sets successful entrepreneurs apart is their inherent sense of what is “right” for a business. They have the ability to spot opportunities for growth, with loads of courage to pursue these opportunities. They love the challenge of pitting their resources and skills against the environment.

Running a business is flexible, a creative and challenging way to become your won boss and chart your own future. It is about making a living, as it is about creating a life. It takes determination, courage and foresight to decide to become an entrepreneur. From the relatively safe cocoon of the corporate world, where paychecks arrive regularly, you will be venturing into the un chartered territories of business.