Saturday, May 14, 2011

Entrepreneurship is Beyond Money Management

A number of new businesses sprung up in the time of recession. After failure to find a suitable job, most people try to enter into entrepreneurship career. But due to unstable economic conditions and lack of their abilities to face the entrepreneurship challenges, some succeed, some not.

Rich Dad Poor Dad author Robert Kiyosaki has written a new book “Unfair Advantage” in which he describes that unemployed people enjoy an unfair advantage of becoming an entrepreneur. According to Robert, “age is not a bar in becoming self-employed”. For example, he says that “It might be easy to lease a luxury car and offer limo service”.

Robert says that “The ability to sell is an important skill of any entrepreneur and the key job of an entrepreneur is to raise money.”

And he advices entrepreneurs to learn:

1. to Sell,
2. to invest via market trends, and
3. to invest in real estate trends.

In my view, this theory can be challenged. There is no doubt when economy dives and companies start showing people doors, a larger number of individuals try to start their own businesses. But at the same time, cash is scarce and products and services are competing for less money. This cut throat competition makes survival for new business a major challenge.

My argument is that “Basics of Entrepreneurship” go beyond selling and investing. Entrepreneurship needs much more holistic approach and skill-set, idea and idea implementation strategy is evenly important. After all investments will be made when access cash is available!

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