So you want to be an Entrepreneur?

For the past few months, I have read lots of interview experiences[mostly MBA] and have conversed with several people. In many cases, people say that they want to work in a company for 4-5 years, get some corporate experience, save some money, and then start a business of their own: That is become an Entrepreneur.

Now if 2 or 3 people were to tell me this, I could have believed them. But when almost every Tom, Dick and Harry begins to say this, I have no option but to be skeptical. Nowadays it has become a fad to say that someone wants to be an entrepreneur. Not withstanding the fact that he or she may not know the heads or tails of entrepreneurship. Out of 10 MBA aspirants, 6 or 7 will say that they want to be an entrepreneur so that is why they are doing an MBA. Interviewers have become so frustrated after hearing such clichéd answers that they automatically assume that when a person says he wants to be an entrepreneur, he is obviously lying.

Here are a few reasons as to why so many people say that they want to be an entrepreneur, especially with respect to contemporary Indian scenario.

1) The Cool Factor: People think its a cool and fashionable thing to be an entrepreneur. They also believe that they can become famous easily, and launch a mind blowingly innovative product or franchise, and go global within a few months, and become world renowned. Nowadays entrepreneurs have replaced film stars as role models for many.

2) The Money: Somehow, many young people have this impression that becoming an entrepreneur will help you in making some quick bucks. That they will become a millionaire instantly as they feel that they have some unique idea or business plan. They forget the amount of hard work and patience it needs for an entrepreneur to gain success. On an average it may take 8-10 years for an entrepreneur to get fully established. Moreover, 9 out of 10 entrepreneurial ventures end up as failures. Somehow most people ignore their fact and believe that becoming an entrepreneur is in their genes.

3) No Boss, Please: Everybody wants to be his or her own boss. Most people detest the idea of a megalomaniac boss running after them 24 x 7, barking orders on the top of his voice. They feel that by becoming an entrepreneur, they have automatically become the CEO and are hence answerable to nobody but themselves. They feel that they can work whenever they want to, and can relax and take holidays whenever they want, as the business is their own. This is obviously a very false notion and can lead to disaster if the person indeed tries to launch his own venture.

There are several other factors too, but am not mentioning them. The truth is that NOT everyone can become an Entrepreneur. You need to have certain skill sets if you do want to be a successful entrepreneur, risk taking and social skills included. For details you can read a good book-'The High Performance Entrepreneur' written by Subroto Bagchi.

The worst thing you can do is to jump into entrepreneurship without evaluating the pros and cons of it. Remember just having one brilliant business idea does not mean that you can be a great entrepreneur. You need to have the ability to execute it and lead it to a chain of ideas which can develop into a sustainable business over a period of time.

A Business Called Education!

Well, ever heard of a Business called ‘Education?’ Yes, you read it correctly, education as a business for rapacious businessmen, just looking to enhance their gargantuan income by nefarious means, in order to lead an opulent lifestyle. The sad thing is, not many people are aware of this. And the ones, who are, simply do not bother. After all, what difference does it make? Everyone wants to make money nowadays, and if it’s for a noble cause, in the field of education, what is the harm? The catch is that the cause is not as munificent as one may believe.



Many centuries ago, India was once considered as the central hub for education. We had an amicable teacher-student relationship, or the Guru-Shishya rishta. The Gurus would guide the student towards the path of enlightenment, and would teach him to identify the right from the wrong. India had erudite scholars in the fields of Arts, Science, Mathematics, Philosophy and even Astronomy. Whether it be Vedic Learning, or the Gurukul System, the education system in India was second to none. We had the famous Takshila University, an epitome for learning. So how come our Education system deteriorated so much, such that at present we are unable to give even primary education to most of our children? Not to mention the negligent progress made in Science & Technology, Research, etc when compared to the other developed countries? And most importantly, why does not a single Indian Educational Institute figure in the top 100 Global List?

Yes, it is true that we have suffered many cutbacks and faced numerous impediments when it comes to education. The yearly budget set for education was less than 1 percent of the GDP just a few years back. We have too few seats, and far too many eligible students. And most of them belonged to the destitute category, unable to get admission in a private school. The condition of government schools has remained lugubrious, and they are little more than dilapidated buildings. Add to that the additional woe of acute faculty shortage and you have a recipe for disaster. It is estimated that there is a shortage of more than 12 lakh teachers at the primary school level itself. And the competition to get into the elite institutions is so severe, that just a handful of outstanding students make it, and the rest shift into depression mode. Two things happen to them, either they take admission in a mediocre or below average college, or they commit suicide. No wonder the student suicide rate is escalating like anything, in India.

Enter the businessman, who has been looking over the entire scenario for the past few decades. What he notices is that most Indians are ready to give anything for obtaining an educational degree, which has become more of a social status than ever before. So what does the greedy businessman do? He sets up a host of private colleges throughout the country, catering to the need of the degree starved bourgeois class. Currently it is mostly the middle class people who are making a dash for such nugatory institutions, but the colleges have also grabbed the attention of the poor class. People believe that obtaining a degree will guarantee them a job, and hence money to meet their daily expenses. But, unfortunately the truth is almost always bitter. In 9 cases out of 10, the colleges just provide degrees and nothing else. Infrastructure is in a dismal condition, and there is a severe deficit of trained teachers cum lecturers. And such businessmen actually maintain a high class profile by proclaiming that they are spreading knowledge, while actually all they are doing is befooling people, and minting money. Such a fraudulent technique is, unfortunately legal.

One may ask, if people are aware of this sham, then why are they not raising their voice and doing anything about it? The truth is, they firmly believe in the slogan ‘Degree Hai to Sab Kuch Hai’(If we have a degree, we have everything). Hardly anyone goes into college because he/she wants to gain knowledge, or because he/she has genuine interest in his/her specialization. People opt for higher education, mainly for two factors: 1) To get a job and 2) Status. The later comes handy while publishing matrimonial advertisements. Nowadays everyone wants to get his son/daughter married to someone who has a degree (even if it’s a fake one) so that he can proudly boast-‘Mera beta to Engineer hai. Meri Bahu to doctor hai.’ (My son is an engineer, and my daughter-in-law is a doctor). Though the guy may not even know the spelling of Engineering, and the doctor wife may do her patients a favor by not treating them. The reason for this is that the large number of private colleges has greatly reduced the Quality Factor necessary for a person to gain true professional skills required by the industry. The businessmen are not concerned about the welfare of the students. They will charge exorbitant fees for providing degrees, and they know that there is a horde of fatuous people who would gladly mortgage their own house to get their children admitted into such useless institutes, thinking that they will get a better investment after the child gets a job. But, alas, all that their children can do after obtaining the degree is to add to the ever growing mass of unemployed youth.

According to a NASSCOM survey, around 75% of Engineers in our country do not have the necessary skills required to work in an industry. So after spending such a huge amount of money, what return do they (the people) get? Almost zero, one can say. The quality of technical institutes has diluted like anything, and this nefarious education business is expanding day by day. What can be done to avoid this? For once, check out the credibility of the institute before taking admission into it. Do not go by the cheap publicity offered, or by the specious promises (usually related to placements) made by that institute’s management. Secondly, do not opt for higher education just for money. Try to develop some real pragmatic skills, and focus on knowledge building. That will surely help you in the long run.

Some Entrepreneurs and NGO’s are working assiduously to provide high quality education for all. One of them is an IIM-Ahmedabad alumnus named Vardan Kabra, the creator of Fountainhead school. A very prominent NGO working for educational development of underprivileged children is Pratham. Both of them have helped thousands of children across the country gain access to education. But still, a lot remains to be done. Now with education becoming a fundamental right, we should demand Quality as well. Just creating more money grabbing buildings in the name of spreading knowledge will simply not do. Public-Private Partnerships(PPPs) can also help in this regard. The private sector can provide good quality infrastructure and remunerations for the teachers, and the Government can accord job safety and a cap on collusions.

We can definitely make India a World Renowned Educational Hub once again.