Not everyone can become an entrepreneur with a successful business. As in the case of every other profession or hobby, one must have an inherent talent for it. Can this be inculcated in some way? Is it possible, for instance, for a youngster to become a great tennis player merely because he or she has joined a particular tennis academy or received good quality coaching? Some would think so – particularly ambitious parents – while others would think otherwise.
It is important that inherent talent be recognised and encouraged at the right time in the proper way. Often it is inherited through family ‘sanskars’ from childhood. This is very much the case in societies that have long-held traditions regarding professional choices. However, the whole point of modern education, particularly the university system, is that someone without a background in a profession or vocation can be provided the skills and helped to discover the inner motivation required for this purpose.
Just as war creates conditions for people from entirely unrelated backgrounds to discover the warrior within them, so do the other requirements of society create conditions for developing those with the necessary skills. In present day India, for instance, there is a great need to develop a powerful entrepreneurial culture to harness the potential of an expanding economy. This is being sought to be promoted by the government, but how far has the nation succeeded in this regard? Is society benefiting from this effort at the levels necessary?
In the earlier days, the attempt was made to encourage small scale industry by providing subsidies, introducing a licence-permit culture, and other benefits. However, it did not prove very successful because many merely launched industrial units for the subsidies or could not innovate and grow owing to lack of a competitive culture. Just as in the case of land ceiling in the agricultural sector, those who did well did not have space to grow, while the laggards were left with an albatross around their necks.
The general belief today is that a clever idea or innovative product can be leveraged into a unicorn in the manner of the companies that have become legends in the IT sector. However, that is only a small part of the potential that exists. Those opting for entrepreneurship and joining business schools should know that there is a lot still to be done within the traditional set-up. The effort should be to make a quality product and market it. This has to be done economically, so that there is a margin of profit. It requires persistence and hard work. The magical rise to success is only for some; others need to keep at it for years before success is achieved. Young India must acquire this skill for the benefits of growth to accrue to all sections of society.
