The economic slowdown has engulfed the whole world in a matter of just 6-8 months. It has created a cause of concern among students passing out this year from engineering and business schools . The scenario which was looking very conducive just a year back has totally changed today. Many of my friends here, who have come leaving their high paying jobs in search of better career opportunities and now are in threat of getting reduced salaries even after 2 years of hard work and training. The recessionary scenario which has caused huge layoffs is giving sleepless nights to thousands of people.
I think this scenario is not a threat to the young professional but a great opportunity. There is a old saying that when God closes one door he opens several other doors for us. One of the best opportunity available now for young ambitious graduates is to start their own venture. Making their own dream a reality. Its like becoming the lord of our own destiny. In the internet enabled world today it is much easy to start a venture than it used to be 5-10 years before. But the Indian mindset makes us thinks of going for secured jobs rather than thinking about taking calculated risks .Lot of people think that there are lot of hassles and risks involved in this kind of initiative. You can lose the high paying job , the capital invested and even your reputation . I think these are all just lame excuses , The truth is that it does not require money , it does not need a great brain and it does not even require a great idea to be a Entrepreneur , what it needs is shear GUTS . The risk taking ability and the degree of passion defines any Entrepreneur. When someone asked Mr. Sunil Handa, Professor of IIMA that he is not getting good ideas about the business venture he wants to start, he said “Quit your job and sit for 10 days at your home and than see how the ideas starts hitting you “. Even in the bestselling book ‘Rich Dad Poor Dad ‘ Robert Kiyosaki says “A job is only a short-term solution to a long-term problem “ . The message is loud and clear, it is just the test of our nerves , patience and willpower.
As per my understanding this is the ideal time to start a venture as the opportunity cost is very low. The salaries and job profiles are already on decline, a person is not loosing much when he quits his job. Infact we can make a mental excuse of it that the job is not good enough for us to devote our time. The credit crunch might reduce the financing options for the Entrepreneur but it is better than the scenarios before . Its just a matter of decision to take on the next challenge … I mean the next opportunity.