Entrepreneurship

Reading Summary 2

-  Aman Aggarwal

From becoming an entrepreneur to starting an entrepreneurial revolution, the aspirants’ just need to take some right policy making decisions and government needs to create a healthy ecosystem that sustains the entrepreneurs. A successful entrepreneur identifies a potential opportunity at the right time, gather resources together, then, goes to market for some research about the competitors and validity of the idea. After research work, the entrepreneur works on refining the model according to the market trends and become a successful entrepreneur or fails and need to try again. Government is also taking necessary initiatives to boost the entrepreneurship culture by passing the JOBS Act which helped entrepreneurs and small business owners solve their funding problem. The title III of JOBS Act, the CROWDFUND Act opens funding opportunities for many underfunded entrepreneurs and help them grow with time, but this does not comes without risks like risky business ideas, unsophisticated investors and ever changing political environment that could change regulations quickly. The government needs to do more than just creating a conducive environment for entrepreneurial activity and reduce the dangers for entrepreneurs by sticking to eight rules for direct investment programs. To move a step ahead and initiate entrepreneurial revolution, the entrepreneurs need to have innovative minds and innovation goes waste if done in isolation. Efforts should be done to combine innovation, enterprises, and jobs to spread prosperity and foster the social mobility across the nation. Along with this, the government should integrate all the nine elements such as leadership, culture, capital markets, open-minded customers’ etc. into one holistic system to boost venture creation and growth among aspiring entrepreneurs. With entrepreneurs and government keeping these things straight, the nation can start an entrepreneurial revolution.