How Saththia Lingan Sees the Future of Entrepreneurship
Introduction
Saththia Lingan says In the last two decades, the entrepreneurship definition has had significant changes. Today, there are endless opportunities available for entrepreneurs. In 2022, the inspiration and competitive drive for entrepreneurs is also at an all-time high.
Bu the role of an entrepreneur has, in fact, come a long way. If you jump back to the 1940 or 1950s, entrepreneurs didn’t have many opportunities to raise capital. But today there are over 582 million entrepreneurs across the world.
Naturally, there is an explosion of opportunities and competitive entrepreneurs want to bring something new to the table. It is interesting to witness that modern entrepreneurial efforts are built on the foundation of traditional entrepreneurship.
Entrepreneurs of 21st Century
Entrepreneurial opportunities have also become more diverse and no longer discriminate against people of color, women, disabled, and minorities. Saththia Lingan (a.k.a. Sath) Lingan believes that the number of business entities owned by members of these groups will continue to grow strongly into the future as we all long for the day that everyone is equally represented in the business world.
Optimism is integral to become a successful entrepreneur and Sath is aware of ample opportunities that encourage more entrepreneurs to dive into the capitalist free market. Despite high competitive stakes, entrepreneurs are competing on a leveled playing field. In this day and age, the educational background and vocational standards of entrepreneurs is at an advanced level.
More Focus on Entrepreneurial Spirit
Entrepreneurship spirit revolves around how you create, build, and scale up your business to generate sizable profit. On the surface, it may sound straightforward but entrepreneurs now have to become problem-solvers and innovative to address internal and external challenges.
Fundamentally, modern entrepreneurship should be able to capture the essence of old school entrepreneurship. The last thing an entrepreneur should do is view change as a threat. Instead, it serves as an opportunity to transform business and drive social change. After all, an innovative product has the power to make a difference in people’s lives on a regular basis.
Take the First Initiative
According to Saththia Lingan, entrepreneurship is all about your willingness and ability to take the first step. It’s a leap of faith that requires you to make some life-changing decisions. As an entrepreneur, you have to be an impressive problem-solver.
Sath understands that entrepreneurs of independent projects use a variety of tools to optimize business operations. But optimization is never the end game. Instead, it’s how you plan to expand your entrepreneurial efforts moving forward.
In 2022, you have to be calculative, logical, responsive, and objective to become a successful entrepreneur. Sath has had a successful entrepreneurial drive and now recognizes that the development of the basic idea is essential to ensure business demand and cater to the target audience.
The Modern Entrepreneurial Approach
Despite how simple or complex the idea may be, “how” an entrepreneur approaches the idea to move forward can make all the difference. From marketing to finance to management to accounting, every aspect matters to the entrepreneur.
Saththia Lingan believes that the most successful entrepreneurs are the ones that learn from their experience. In fact, experience teaches entrepreneurs to make a robust and comprehensive business plan and get funding in an efficient manner.
A lot depends on “how” entrepreneurs recruit and manage workers. As an entrepreneur, you consistently have to develop, test, support, maintain, and implement changes to the product and adapt to market standards.
Similarly, entrepreneurs should be able to attain and retain customers through attractive offers. The journey of an entrepreneur kicks off when the company starts to grow. But before you expand or improve product lines, it is vital to seek out professional help from business consultants and advisors.
Final Thoughts
In the long run, entrepreneurs have to dive into strategic planning to make financial and management decisions. Typically, having an MBA allows entrepreneurs to learn and master essential business skills. But to reach the top of the ladder, entrepreneurs have to understand the managerial, financial, and operational processes without compromising on strategic goals.
REFERENCES:
https://www.oberlo.com/blog/what-is-entrepreneurship
https://online.maryville.edu/blog/importance-of-entrepreneurship/
https://www.investopedia.com/articles/personal-finance/101414/why-entrepreneurs-are-important-economy.asp