So many perspectives on entrepreneurship; some are positive and some not. People often feel entrepreneurship is tricky and difficult but if you are passionate about something, it’s worth the risk. So, if you are one of those enthusiastic people and want to know how to become an entrepreneur, this blog might help you!
Let’s learn about entrepreneurship and its major aspects:
Who is an entrepreneur?
What makes a great entrepreneur?
What does it take to start your own setup?
Everything entrepreneurship!
Table of Contents
Who is an Entrepreneur?
You must have heard the word ‘Entrepreneur’, basically referring to those who have started or are in-process to start their business.
However, this is just the definition. If you want to get through the journey of an entrepreneur, you need to understand the phases they go through.
A real explanation says, an entrepreneur is someone who develops a business model, and acquires human capital & manpower to start a new venture. He is the one who has the will to pursue his dreams and is responsible for his success or failure.
The rise in the Indian Self-Employment Sector
In this era of experimentation and innovation, India is standing on the cusp of major transformations. This revolution can be described as Entrepreneurship in India.
According to Startup India, “India has the 3rd largest startup ecosystem in the world; expected to witness year over year growth of a consistent annual growth of 12-15%.”
Considering the statistics, in 2018, India had about 50,000 startups and 1300 new tech startups were born in the year 2019.
India has become the startup hub of the world. Multiple young enthusiasts are choosing the path of entrepreneurship and creating earning opportunities for their fellows. They play a major part in boosting the Indian economy and have changed the way the world used to look at our country.
From IT firms to the education and training industry, every sector has been witnessing a rise in entrepreneurship.
So why not the career counselling industry?
Career counselling startups have noticed a sudden rise in the past few years. That’s why investing in a career counselling business is very beneficial.
How to Become an Entrepreneur?
Step-1 Decide your Niche First: Before diving into practicalities, the first and foremost step is deciding your niche & target audience. As a business owner, your niche and services should be clear and cater to your audience. It helps to identify your loyal customers, & competitors and conduct proper market research.
As a career counselling set-up, you can focus on:
- Students who are confused to choose the right career path
- Schools that want to help their students with career-making decisions
- People who are on the lookout for a job
- Those who wish to enhance their professional skills
You can cover them all or select a stream and guide people as an expert.
Step-2 Strategize your Business Plan: Once you are ready with your niche, follow the next step of making a business plan.
Start by doing your market research. Find out what your peers are doing and what is going well for them. Expand your business potential by keeping prospects in mind. Thorough research of the competitors helps to devise a business plan.
Your business plan should define how to
- compete,
- fulfil commercial space needs,
- attain staffing needs,
- get insurance charges,
- map out advertising techniques,
- finance your business and more
Fix the price for the services you’ll be providing to be able to pay back the invested money.
Step-3 Validation, Licensing & Location: To become a trustworthy career counselling service provider, get yourself solid validation from a reputed university or organization. Contact your region’s department and learn the rules and training requirements for setting up your career counselling organization.
To provide the best services, make sure you are trained. The Global Career Counselling Program by Univariety in collaboration with UCLA Extension is Asia’s first comprehensive online program for individuals passionate about career counselling. This program is a comprehensive guide that covers best practices, techniques and trends in the domain of career counselling, and helps to develop advanced career counselling skills.
Moving on, the location of your business set-up is a pivotal aspect. Your space should be a quiet and comfortable place where you can conduct vocational interviews and career placement tests. Build a well-equipped office with good communication facilities and lots of positive energy.
Step-4 Strategise your Services & Pricing: As mentioned above, you need to develop various techniques and services to help your clients. You could conduct training sessions for developing interviewing skills, speaking in public abilities, profile building, etc. You could also host workshops and develop books, e-books, etc as resources.
Strategise the pricing as per the services. For different assistance, the price range can vary.
Step-5 Create a Network: Building a strong network is very important for your setup. It is one of the best ways to connect with people and make contacts by communicating on different platforms. You can ask organizations to help you interact with your target demographic. Otherwise, join different communities and promote your services there. Influencers or experienced folks can also help in building a strong network by recommending your assistance. Build associations with schools, institutions, or different companies who may partner with you to deliver group career counselling sessions.
Step-6 Market Your Set-Up: Your business shall yield no results unless it reaches out to the target consumer base. That’s why you need to promote your career counselling business set up at online and offline platforms.
Develop effective promotional strategies and marketing plans to reach out to your audiences.
Recommended Read: 7 Ways To Market Your Business: Tips for Career Counsellors
Who Made Their Way in the Career Counselling Industry?
Entrepreneurship is not new to India. There are countless companies constantly getting a place in the Fortune 500 companies. Believe it or not, Tata and Birla were once start-ups. So, just believe in yourself and start planning to set up your business.
Don’t believe us?
Read these encouraging success stories of visionary entrepreneurs, who started from scratch and now become stalwarts of the career counselling industry.
Meet Dr Swarup Dutta who gave up his illustrious career as Vice President of a Pharmaceutical company to create a positive impact in the Education sector and in young minds to groom them into better citizens of tomorrow. What directed him to take a step towards this career transition? In his words, “I strongly believe that a great career is not about making more money, it is about making notable contributions, solving real problems and finding a meaningful & happy life”. Read the full story here.
This is Deepali Palande, a talented marketing and events enthusiast who felt the need for change. Having spent significant time working in the higher education space, she decided to reinvent her career by exploring opportunities in career counselling. Read the Full Story Here.
Also Read: Success Story: From a Corporate Job to Career Counselling
Take a Step Forward to Set Up Your Business with Super Counsellor Program
Currently, India needs at least 1.5 million career counsellors to guide more than 300 million students. Therefore, it is the best time to join the career counselling industry and start your own business.
Setting up a business requires a lot of factors like a business licence, funding, etc. Getting the right help and guidance is important to be familiarized yourself with the industry standards.
To support your vision of setting up a business in the career counselling industry, Univariety created the “Super Counsellor” program. It is India’s first incubator for career counsellors which supports individuals who seek to set up their own career counselling business.
The Super Counsellor program offers several benefits to career counsellors like
- Industry-ready career counselling program from UCLA Extension and Univariety
- Earning opportunities
- Low investment, high rewards
- Technology with a white labelling system
- Access to psychometric tests
- Marketing collaterals, etc.
Click here to know more about the Super Counsellor program.
FAQs on How to Become an Entrepreneur
- What does it take to become an entrepreneur?
There are certain qualities required to become an entrepreneur. The most important factor is being patient and responsible for your success & failure. Other than this, be punctual, disciplined, able to handle risks, etc. - Do entrepreneurs make good money?
As per indeed.com, the average base salary for an entrepreneur is 3,65,315 per year. But this is only at the initial stage. When the business grows, the profit varies for every entrepreneur. - How difficult is it to be an entrepreneur?
Entrepreneurship is not at all a difficult thing. You just need to be passionate about your idea. Be patient and responsible for your success and failure. - What skills does an entrepreneur need?
Key skills for an entrepreneur:
- Able to effectively communicate, sell, focus, learn, and strategize.
- Time management
- Resilience
- Ability to build a network and your own brand, and more.
Parul is an enthusiast writer, currently working at Univariety. Despite being from a technical educational background, she started her career in writing because of her passion. She loves sketching and doodling while enjoying a cup of black coffee. When she is not writing, she likes watching movies, travelling, and exploring new places.
6 Comments
Great Post! How to Become an Entrepreneur steps are very well explained. Keep up the good work
Hi Rishabh. Thank you so much for finding this blog useful!
You can also read – https://www.globalcareercounsellor.com/blog/7-must-read-books-for-entrepreneurs-2/#comment-400
Very well explained…
Excellent write-up…
Thanks for sharing the experiments and experiences of entrepreneurship…
Goodwishes and goodwill to one and all…
It is a nice post . all steps are ivery well explained to ba an entrepreneur.
Informative!
These tips are really great. You have covered everything very well. Thanks for sharing this informative article. The aspiring entrepreneurs will learn so many things from this.