Business Ideas

I have been reading a lot nowadays on entrepeneurship skills, startup challenges, funding etc etc. Have also gone through a few forums and have seen questions from people - what first ? Do you need to have a business idea first or do you decide to be an entrepreneur first ? Well, like they say, it is a million dollar question. I have a simple thinking on this.

First of all, why do you want to become an entrepremeur ? Is this because of the business idea you have or you want to trade on the path you want to create ? This simple question has answered my thinking. For me, I want to be in control of what I plan to do. I am ready to face whatever is in store for me. It is not easy as I understand by reading experiences of others. But That's the driver for me. My experience and limited knowledge of entrepreneurship tell me that:

1) You need to have a drive to be an entrepreneur. Be ready to face any challenges. There will be phases where you will feel that everything is lost. But be there, experience it, go through it as that will make you stronger and be the stepping stones for your success. This principle has nothing to do with entrepreneurship, this is a simple rule of life--Failure is the pillar of success. I have experienced it dring my school days and I will be thankful to my uncle to utter this simple 6 word sentence at the most crucial time.

2) Good Business ideas are a great starting point. But it is important to convert this ideas into a business plan. Dont want to tell anything more as there are lot of informations available on this.

3) Funding for SMEs is the most challenging aspect in INDIA. There are many VCs, Angel Investors, Government agencies and of course Banks. In fact some of the Indian banks publicize that SMEs finance are the priority areas but that's quite away from the truth. Keep trying if you dont have the money. I am in this category as of now. Wish me success in this.

I came across this blog http://iqbalgandham.wordpress.com/. It is really a nice one. Iqbal has listed a lot of good online business ideas already fructified or in the process of fructification.

~Cheers