It will be very curious to know that how entrepreneurship will work in the IT industries. Is diligence fruitful in the IT world or it depends only on the luck of the entrepreneur?
What are entrepreneurship and entrepreneur?
Entrepreneurship is the process of establishing a business, start-up a company which provides different services. An entrepreneur is a founder or the owner of the business who is willing to take the certain risks for the profit of their start-ups in a competitive environment by the creation or expansion of their business activities.
Why is entrepreneurship important to business?
The first word that blinks to our mind with the entrepreneurship is “Risk,” which can change the way of our living and work. If the risk is successful, then this surely improve the standard of our living. Entrepreneurship creates the jobs and standard of living in the society. Entrepreneurship companies have only one thing in the mind that how to create money and to make it as quickly as possible.
Entrepreneurship can be online and offline both. Company based on the internet comes under online entrepreneurship and its vice versa. As much you will be innovative as an entrepreneur, then there will be more improvement.
The world’s most entrepreneurial countries for entrepreneurship in 2018
The US is at the top in the Global Entrepreneurship Index of 2018 whereas India was at the 69th position. In 2014, India was in the 76th position, but last year India jump in the ranking from 76th to 69th position. According to a report, “India is strong in product development while weak in adopting the technology soon.”
Role of Entrepreneurship in the IT world
Most companies are built mainly to serve the local market. If the product hits the local market then, this product will be supply in the other places.
Some factors which are essential in IT entrepreneurship
Build your brand
The further step in IT entrepreneurship is to build your brand in the market. For the start-up of an IT business, the average cost was just over $30,000 and also depends on the company. The IT industries can be highly competitive so, it is essential that we should be ready for such competition and the failure too. Facebook had been started at very least scale by Mark Zuckerberg and his friends, yet gradually it became a brand in the whole world.
It is impossible to define its meaning, but mainly it refers to the data storage amounts more than one terabytes, petabytes (1,024 terabytes), exabytes (1,024 petabytes). There are very concepts associated with the big data, but fundamentally there are three concepts that are Volume, Variety, and Velocity.
The best example to show IT ENTREPRENEURSHIP is “MARK ZUCKERBERG.”
Mark Zuckerberg (CEO AND Co. Founder of Facebook) is an entrepreneur and a great developer, who said that firstly, an entrepreneur should have a specific vision. Secondly, we should be with such people who are highly successful and motivates us to do best. Finally, big things are always made up of small things. So, never believe in overnight success.
Types of IT jobs are there
These all can be entrepreneurship in the IT world.
Role of Entrepreneurship in India
Time is continuously changing, so the preface of entrepreneurship and people is also changing. In India, people believe in services rather than products; if we want to clean our garments, we prefer to give it to the washerman instead of buying a washing machine. It is the reason for fewer product start-ups in India. India is not a major consumer in term of the technologies or their products. India adopts the technology but very late.
Is diligence fruitful in the IT world?
Success doesn’t happen overnight or by chance. A very well known fact is, Patience and hard work are the keys to become successful. So, believe in the both. It takes lots of nights and failures in the journey of success.
There is lots of hard work to make a website, a developer bear lots of problems and after debugging all the bugs and successfully making it in the end. Still, he/she does not confirm that his/her application is going to be hit in the market or going to get the lots of criticism. Here, it depends on the luck too. So, if you work hard, it will be precisely fruitful either in any field.