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Biotech Entrepreneurship

This article will help you know who can be entrepreneur or as a check whether you are the correct person to become entrepreneur. Though it’s for Biotech Entrepreneurship, it can be generally called as Characteristic of Entrepreneurs!!!!!

The initial point to be remembered is without entrepreneurship the economy of the country will be still. So, in India if you see biotechnology is yet to show its step and greater advancement can be made possible only if Biotech Entrepreneurs are making their step.

Who can be entrepreneur?

In olden years, people had wrong opinions that only certain persons can be Entrepreneurs like particular cast or community. So, these points below can make sure what is necessary and what not for entrepreneurship.

1. Need not be rich

2. Need not need particular caste

3. Indians are of serious threat about MNC and China.

4. Should enjoys taking risks

5. Must handle situations well

6. Must influence society

7. Understands people’s need

8. Take responsibility

9. Service oriented people (hotels, hospitals)

10. Thinks can provide consultancy

By reading the above points if one feels he can be able to make business, then he have all the chances to become Business Tycoon. So, for Biotechnology in addition he must make sure that he gets all rights and social acceptance. It’s too risky to be an entrepreneur in Biotech.

However I have given examples below so must read that and decide whether you are capable of entrepreneur or not? These below points can give you an Idea about the positive and negative thinking an entrepreneur. Since we have to make quick decisions it help you to develop those thinking skills.

Thomas Edison was an inventor but later on became an entrepreneur.

A service oriented entrepreneur was Dr. Pratap Reddy, the founder of Apollo Hospitals, Chennai.

Shampoo now a day were sold as sachet; the idea to introduce in small quantity shampoo was behind Mr. Ranganathan Calvin Kare

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However not all entrepreneurs have obtained success. A few examples below will give you cause of their failure and teach you to emphasis on those areas.

1. Wrong Idea: The Advertisements are sufficient to make profit

The advertisements are only a media to teach public about the product and not as a tool to make sale. So such product which depends on advertisements will slowly lose its market.

One such Product is Franch Oil

There were a number of ads about Franch Oil which made people to buy it at initial periods of ads. When people started using they found it’s not that effective as given by adds. They totally stopped using it.

2. Wrong naming: The product and company names are important

The company produces one particular type of product and if they want to introduce another type of product then careful decision has to be taken in choice of product or its name.

Ponds Tooth Powder was a Failure

Nirma Bath Soap was a Failure

The reason is Ponds produced Face Powder so the people were not able to accept tooth powder in name of Ponds and like wise for Nirma

3. Wrong vision: The smart vision is needed rather than big vision

If you have big vision it doesn’t mean you are capable of being a great entrepreneur. All you need is the smart vision. The below two examples will tell you more.

Mr. Gopinath of Deccan Airways had a vision of cost effective air travel but the time it took for the flight travel was too late when compared to other airways.

Mr. Karthick Narayanan of Standard Motors had a vision to make Biggest Car but the internal engine was not so powerful to drive the car.

Ultimately the above two visions were failure since it had a big vision but not a smart vision.

Biotechnology cases:

To make a statement: To become great in entrepreneurship it requires a lot of patience.

Mrs. Kiran shaw of Biocon started her company in a very small front with a shed atmosphere. She had a lot of patience to slowly develop the company and now she made a greatest firm in India.

Final Words:

The above article would have made you think whether you are capable of becoming entrepreneur or not. The statements given above are made with reference and not own words. If any faults are there please do mention so that can correct it.

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Was the article useful if so please feel free to comment below?

1 comment:

  1. Really, The article spoke about the practicle aspects..
    Thanks for the article.

    ReplyDelete

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