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? click here.
What does it take to start your own setup?
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
- 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 like Kamau Bobb Google 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.