Tuesday, November 27, 2012

What's the best time to start a business & why?

You might have to ask this question if you don't belong to a business oriented family, where a job culture prevail instead ... the answer is simple: i.e. the best time to start a business is when you are studying ... that is right !!! why? because this is the time you have the luxury to experiment lots of things without much pressure; and with a little common sense and smart thinking you can avert yourself from making a loss, let alone making enough for your pocket money (by the way there are lots of examples from PAF-KIET, check Established Business page on this website) ... On the other hand, when you are passed out, the immediate pressure from your family to get a good job will hardly let you experiment anything to establish your career as an entrepreneur.

There is another reason to it. Your education, particularly when you are studying business (BBA or MBA), will eventually mould you into a nice conformist employee, a 'Yes Man'... its not impossible to think about entrepreneurship, or self-employment after completing your business education, however the chances will gradually decrease with time you spent studying, unless you are exceptional and haven't let the the typical-institutional-environment to force you to become a tool of corporate machinary in the market!!!...

So buckle your sear belt, and give it a try, as no wonder, with little perseverance, common sense, interpersonal skills you might end up establishing your own business which might not just earn you a good living & lots of practical learning experience, but also can help you live a life to its fullest... on the other hand becoming an employee will only limit you to the boundaries provided by your working environment, for entrepreneurs there are not such boundaries...

If you initiate a start-up while you are studying business, you will not be only studying theory but also will be practically applying it in your venture... my personal experience shows that such students performs just as good as others, perhaps sometimes even better, thanks to the practical application of the theory they are studying (this has been also observed by Kiran Sethi's experiment at River Side School in India). It is needless to mention that such an experience neverthless gets students ahead from the rest in terms of maturity, practical knowledge & self-confidence.

There is a catch however, the curriculum and pedagogy in business schools isn't designed to bring up entrepreneurs, rather good employees, managers for large corporations (See Steve Banks, lecture Democritization of Entrepreneurship). Therefore students at present have to recontextualize the conventional theory to make it useful for application. The good news is that this is changing, and particularly at PAF-KIET as here management has realized the weakness of the conventional approach in bringing up entrepreneurs, and has begin to emphasize on changing it as required, details of which will be provided in another blog post.

In short, starting your own business, irrespective of how much profit it generates while you are a student, will not enrich your learning experience but also will introduce a much more lucritive & enriching career option in your life, i.e. of becoming an Entrepreneur.

The author is In-Charge of CED @ PAF-KIET, Vice President of GEAR, a Social Entrepreneur, Author, Researcher and tweets @javaidomar

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