* Early Entrepreneurship




Early Entrepreneurship – Introduction

In this modern era, “entrepreneurship” is becoming one of the significant journeys where the individual does the self-employment by recognizing opportunities and risk assessments to compete with their competitors [1].

There is a serious age race in a modern start-up where the person who starts the business at an early stage or steps into entrepreneurship world tend to achieve a lot compared to those who start late [2]. Although there are both the opportunities and challenges in doing a start-up but as said “nothing ventured, nothing gained and today the youthful an entrepreneur who has succeeded also faced these challenges and overcame them.

The young entrepreneurs who start their business journey have the advantage to get to experience lots of testing and have enough time to reflect on their failures and learn from their mistake. The early entrepreneurs, besides being inexperienced, they are filled with lots of confidence, curiosity and they try out new things in a distinctive way. Furthermore, leveraging the early network is key to them to success. Early networks help them to spread their ideas and business to the VC’s or at some point in time, they can find correct investors or assistance support in order to leverage their businesses [3].

There is always the debate of “entrepreneurship can be taught?”, entrepreneurship is about learning things through the ongoing process [4]. By starting-up a venture in early age, an individual cannot acquire all the knowledge in that field, but the skills and expertise improvise on the ongoing process of doing the business. 

The knowledge gained from real experience is always a more effective one. The risk-taking characteristic being the significant advantage for the young entrepreneurs; their control of study, confidence, and trying out different things and utilizing time correctly makes them a successful entrepreneur.

   


Based on the news article [5]  early entrepreneurship at a young age paves the way for exploring opportunities and getting on the learning curve. The experiences with failures open up the mind to various avenues and thereby strengthens the decision-making abilities of a young entrepreneur. For instance, let us look at the case of the famous Indian entrepreneur, Mr. Ritesh Agarwal. He started with a keen interest in software programming by borrowing books from his elder brother at a very young age of 8. 

The thirst for innovation and discovery led him to understand the dynamics of hotel stays in India back in the year 2011. It was a new phenomenon where many budget travellers could not find cheap hotels and rooms for accommodation. On observing the potential might of the opportunity, Ritesh established his first-ever venture in 2012 – Oravel Stays.

As a matter of time, the firm gradually climbed the ladder upwards by receiving funding from investors and established into the famous brand called OYO Rooms. The success of OYO Rooms is a widespread knowledge today, and the entrepreneurship skills of Mr. Ritesh Agarwal is held in high regard. This story of Mr. Ritesh Agarwal speaks volumes of successful entrepreneurship. At a very young age, Ritesh’s curiosity to view things differently sparked the spirit of entrepreneurship in him. His vision to achieve extraordinary results propelled him to gain insights and understanding into various aspects of entrepreneurship.

The preparation at an early age helped me to understand multiple factors of entrepreneurship. Early entrepreneurship enabled me to identify the multiple market possibilities and understand the market scenario in a more excellent way.

Starting early enabled me to acquire the concrete abilities required of an entrepreneur and taught me to make optimized decisions. It also helped me to develop analytical skills and strong logical skills. With early entrepreneurship skills, I can be able to study the market trends better and stay updated with the changing dynamics of the market scenario. It ensured better exposure and the ability to survive in the unstable game of business. 

Starting on the journey of becoming an entrepreneur early has been fruitful because of the experiences I have faced at an early stage. The experiences of failures and success helped me to become better at entrepreneurship and thereby sharpened my core skills. It facilitated learning and reduced the probability of repeating the same set of mistakes. It also gives me an insight as to what works best in the market.


 References

[1]. Entreprenuer India. (2019, March 14). Retrieved from Entrepreneur Media: https://www.entrepreneur.com/article/297068

[2]. Hassi, A. (2016). Effectiveness of early entrepreneurship education at the primary school level: Evidence from field research in Morocco. Citizen
the ship, Social and Economics Education
, 84-90.

[3].  Naudé, W., & S. R. (2010). Early international entrepreneurship in China: Extent and determinants. Journal of International Entrepreneurship, 87-111.


[4]. Vegetti, F., & D. A. (2017). The impact of the economic crisis on latent and early entrepreneurship in Europe. International Entrepreneurship and Management Journal, 1289-1314.

[5]. Aggarwal, Ritesh. (2015). The mastermind teen behind OYO Rooms. Yo!Success:

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