In other parts of the world, especially in the developing economy, entrepreneurs credit their successes to their upbringing, from the encouragement they received from parents to pursue their dreams. But in India, except for those who grow up in homes where their parents are entrepreneurs, aspiring entrepreneurs face difficulties which are not purely economic. Entrepreneurial dreams of children are not encouraged by parents.
Our inherent dependency syndrome
This stems from our inherent dependency syndrome of working for someone rather than creating jobs. Even in colleges students are advised on how to secure good paying jobs and never on how to become entrepreneurs.
Debt is always looked down amongst the Indian middle class. In business it is common to be in debt and most in this country, who believe in the concept of “saruthakejoyo” (live with your head held high) can’t accept seeing their children in debts. This philosophy has proved to be the death of many very good ideas which died an early death as start-ups refused to take loans and tried to self-finance their projects.
Prefers the surety of a monthly salary
The risk-averse Indian middle class prefers the surety of a monthly salary than the uncertainty of a new business. Amongst the middle class, salaried individuals are more respected than businessmen, mainly small business owners. To parents, working in the government or for an MNC is infinitely more desirable than starting a business of one’s own.
Also, in most Indian middle class families the subject of money is not talked out as freely as other topics. Hence money-making urge doesn’t develop among children of these families.
Common personality traits
So if you have the desire to be an entrepreneur, you have to take the reins in your own hands. Successful entrepreneurs share some common personality traits. The most important among them is confidence. This confidence is not only in themselves but also in their ability to sell their ideas.
It is this confidence in yourself which will take you forward and make you successful. So march ahead!