Thursday, April 23, 2009

THE ENTREPRENEUR MINDSET


Many people who are interested in making money, consider being a manager or an engg. to be of great value. Most, scarcely consider being an entrepreneur. This is primarily due to the reason that they consider it to be risky. So, is having a job safe enough and is being an entrepreneur really that risky?

The recession that hit us recently reveals a clear picture of the status of security of job holders. How did it affect the entrepreneurs? They cut off a few jobs, are having a vacation and they will be back in a flash whereas the job holders are scattering everywhere to earn their daily bread. My point of view is that being an entrepreneur is the safest thing provided one knows the mechanism of making money and has the right entrepreneur mindset.

So what is this entrepreneur mindset?

The very basic thing an entrepreneur should know is how to make money work for him and not to work for money. An average individual earns, spends, earns and then spends again. As his income increases, so does his expenditure. At the end of the day, he fumes over the tax collectors, the increasing prices of everything and his low pay. The yardstick of measurement of one's richness is what his income is. So does this mean a person who has more income is richer?
Yes he is but can he sustain being rich? Not necessarily. If one has a tendency of spending whatever one earns, how is he going to bear the expenses of his son's wedding, expenses after retirement and other situations like the recession we had?

An entrepreneur on the other hand, earns, invests, makes a considerable asset column and always has his income column greater than that of his expenditure. An average person earns Rs35000, spends it to get a bike, takes a loan and spends his next income to settle the loan.
An entrepreneur earns Rs35000, invests it, keeps investing the money till he gets considerable profit of about Rs2,00,000 out of it. This way he is not sort of money at anytime and generates money out of money.

7 comments:

  1. nice post. Don't u think u r confusing investor with entrepreneur. Every investor need not b a entrepreneur. Even a normal man could invest money in shares and earn on his salary he receives. It does not mean he necessarily has entrepreneur's mindset..... anyway good post...

    ReplyDelete
  2. hmm...really nice post..
    i do agree with vaibhav too.....

    ReplyDelete
  3. no, i m not confusing an entrepreneur with investor.
    every normal individual invests but those without a proper money making mind set tend to invest on liabilities like getting a house which doesnt generate income but consumes income.if an investor invests in a way to make sustained profit, he has the entrepreunal mind set.and not every investor is an entrepreneur.

    ReplyDelete
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