Why aren't engineers thinking about entrepreneurship?

yes i m agree with urs view,but u tell still there are lot of people who have new ideas but lack of money make them unable to present their ideas before world.

see i m the student of btech 1st year frm ec branch.n i want to make something extra but still i hv a problem of money n guidance ,so how i can enhance my entrepreneurship in i hv less ides bcz of less practice.engineers require practice.....

Do you think it's the money that's holding people back or it's the lack of ideas and willingness?

There are thousands of people who're willing to be money on good ideas. If people had ideas, we'd see many innovative college projects. But we don't. Do we?

ya person can mke money on ideas but never forget that, there r few people who have capability to think n innovate ideas,apart from this what abt that person who dont know the A B C but have desires.without being a practicle man ,we cant think abt innovative ideas.if u dont provide me ingredient for food ,then how can i cook food n how can i proof myself for furthr
innovations in cooking food.this is same with as electronics.it require practice.if admin provide equipment to 1000 engineers,then at least let suppose, 10 engineers try to do best.but if admin do not provide these,then out of 1000 engineers only one engineer try to do best.this is the fact n result of lack of entrepreneurship.

The_Big_KDo you think it's the money that's holding people back or it's the lack of ideas and willingness?

There are thousands of people who're willing to be money on good ideas. If people had ideas, we'd see many innovative college projects. But we don't. Do we?

Big_K,

I have been a EE for 17 years. i have worked at 3 fortune100 companies and 4 private companies here in the US.
I have tried for many years to just get a group of my engineer friends to work together in an entreprenuer venture.

Most of the time it is willingness.
Many are just too tired every day to put in even more hours at home to work on a start-up. Another reason is the lack of income security to make more time available for your starting-up.
Engineers' pay is just enough to keep you coming back the next day and not enough to become financially independent for many years. Every year financial independence becomes even more distant.

I have seen and helped develop many highly profitable products that could have been invented by a couple of us engineers working together at home. I have seen many profitable product ideas not get any attention due to lack of upper management understanding and courage.
I have seen many products never get to market because of poor product management. Non-compete contracts and intellectual property rights have prevented me from developing and marketing them on my own.

What I would love to see is a 'forum' that would provide a place for want-to-be entreprenuers to network.
A sort of 'help-wanted' place where engineers and techs could 'meet/greet' and possibly become partners for product ventures.

The_Big_KDo you think it's the money that's holding people back or it's the lack of ideas and willingness?

There are thousands of people who're willing to be money on good ideas. If people had ideas, we'd see many innovative college projects. But we don't. Do we?

i'm not sure if its the lack of ideas but i think the issue is people are afraid of taking risks. they are afraid to turn down a lucrative job offer and start a business, that too when they are from a "non-business" background. they think they are better off with some fixed amount of salary every month sometime some bonuses and the agreed allowances and thats it they think they are settled.

if one does have the love for challenges in life and the josh to take him forward he will just not be able to sit in some company doing a stereotypical job.

and some refuse to take that step due to family pressures. the parents must be co-operative in this issue but nowadays almost all parents are trying to get their kids settled soon so that their burden will reduce soon. i'm not blaming the parents it is the mind set of the entire society and they tend to move along the tide. but of course there are parents who do encourage their kids in taking the necessary steps for starting a business.

I do not belong to a business family. I too was clueless about entrepreneurship but I knew I'd do something on my own. The thought of being in a typical job made me restless and that made me read hundreds of books on entrepreneurship, online articles on entrepreneurship and even talk to people who were entrepreneurs. It took lot of time, but somehow I found my way. But that was few years ago. Today, there are many resources available. But the 'willingness' to be an entrepreneur is missing. The risk factor is also largly misunderstood. 'Job Security' is also a huge myth - ask those who've lost their jobs because of reorganizations and mergers of the company.

At the end of the day, it's what you want to be, what your dreams are and where do you see yourself. If you want to live a life remote controlled by others, then entrepreneurship may not be for you. But there must be a group of people who'll create jobs for others in future.

The_Big_KThere are thousands of people who're willing to be money on good ideas. If people had ideas, we'd see many innovative college projects. But we don't. Do we?

Innovative projects also require monetary inputs. Innovations contain risks. If you have money just enough to do a project which is not as appealing or is readymade, then you will opt for that. People dream of doing exceptionally innovative projects, but lack of money is one factor which stops them from risking. If anyone think lack of money is an excuse, let me tell you that you have not seen all colleges and all the social environments in the world. Hope everyone gets my point.

aj_ondutyInnovative projects also require monetary inputs. Innovations contain risks. If you have money just enough to do a project which is not as appealing or is readymade, then you will opt for that. People dream of doing exceptionally innovative projects, but lack of money is one factor which stops them from risking. If anyone think lack of money is an excuse, let me tell you that you have not seen all colleges and all the social environments in the world. Hope everyone gets my point.

I beg to disagree. Innovation and entrepreneurship are being mixed together. Entrepreneurship does have a component of 'innovation' but not always. Good ideas don't mean innovation. I'm talking about entrepreneurship. Has anyone read the story of Dell? Michael Dell started assembling computers in his dorm and started selling them. Google didn't make money for almost 5 years (they were backed by VCs, but that's only after they demoed their search engine to them).

Innovation and research may need money to begin with. But entrepreneurship doesn't. Entrepreneurship revolves around solving problems for people in innovative ways to make a difference. But innovation isn't necessary for entrepreneurship. I believe it's all about strong desire to be different, create wealth for self and others that drives most of the entrepreneurs.

The_Big_KEntrepreneurship revolves around solving problems for people in innovative ways to make a difference. But innovation isn't necessary for entrepreneurship.

Hope this is because I am very, very weak in understanding English sentences, but I strongly believe that these two sentences contrast big time.(Scratching my head, harder... harrrrderrrr). Inovation is not required for entrepreneurship, but entrepreneurship revolves around solving problems for people in 'innovative' ways. :surprised:Too complicated for me.

I believe it's all about strong desire to be different, create wealth for self and others that drives most of the entrepreneurs.

Law of conservation of Money- Money can neither be created or destroyed. It can be changed from one form to another.
To help somebody, you need something more than innovative ideas. You need to prove your innovative ideas. For proving them, you need some resources. And I believe that we need money for that. Well, I am new to this world. These are just my views. My own immature views.Please correct them.

I hope my sentences were clear enough. Entrepreneurship can involve innovation to solve people's problem. But not always. Google did innovate search algorithms to solve the problem of online search, while Dell assembled computer parts and sold them which isn't innovation as there were many others who were doing the same thing.

Innovation isn't necessary for entrepreneurship. The software companies in India are prime example of it. They get projects from the clients and execute them. On the other hand, there are companies like Apple, Google, Facebook who 'innovate' and bring up newer things to the world. I hope I've made it clear.

<a href="https://en.wikipedia.org/wiki/Wealth" target="_blank" rel="noopener noreferrer">Wealth</a>can be created. Bigger corporations have generated wealth and distributed them to their shareholders.

I hope there is a vast difference between creating and generating something. May be it is because I am learning too much power generation nowadays, but generation of wealth is possible only by giving resources as input. And resources may be directly or indirectly related to how much money you got to invest.

Its really nice thread. Entrepreneurship is one of a best option for Engineers.Since Engineers are having good stuff and innovative ideas they can serve to the society in many ways.Entrepreneurship is available in all sectors.

As of my knowledge Education has become one of the prime growing sector in India and with an ever growing youth population in India their is a need for education training centres who can provide world class training in this competitive environment. Their is need in abundance for good education training centres and investments into the field of Eduprenuer is certainly safe.

sir big-k,
plz...make clear..what u want to say.explain ur example

resources may be directly or indirectly related to how much money you got to invest

but aj i think we can make it without such investments because there are many sponsers if we make any new thing with small things which we had and get success we can get money for more success
this is my view if iam wrong correct me

narayana murthybut aj i think we can make it without such investments because there are many sponsers if we make any new thing with small things which we had and get success we can get money for more success
this is my view if iam wrong correct me

Let me make it straight-
Suppose you have an idea. You got to convince that idea to someone who is your potential sponsor. You may make some presentation or something to do that. That is not so resource consuming, right! Now, if you can't get that idea into the business minded brain of that investor, then you are in deep trouble. You got to prove it in practice. That is where you need investment. If you were born with a silver spoon in your mouth, then you have 50 percent you will ever do it. You will think of doing it, but you will not be prepared to take up the risk. That is where your mindset goes wrong. So, point no. 1 is the financial status and problem no. 2 is the mindset. Now there are a lot of factors fr that. You can write a book on it. The subject is vast. 😁

aj_ondutyI hope there is a vast difference between creating and generating something. May be it is because I am learning too much power generation nowadays, but generation of wealth is possible only by giving resources as input. And resources may be directly or indirectly related to how much money you got to invest.

The difference between a manager and and entrepreneur is that an entrepreneur will always have lesser resources than a manager. These words of wisdom come from late Dr. C.K. Pralhad.

Yes, any business needs resources which come at a cost which isn't always countable in terms of money. When people think of starting a business, they think about 'money' - and there will never be enough money for any entrepreneur.

There's a simple way of tackling this problem: Think Big And Start Small. I believe in starting small because it doesn't need lot of money and resources. Every entrepreneur must decide how small he/she should start depending upon his own faith in gathering the resources to move forward.

apurwasir big-k,
plz...make clear..what u want to say.explain ur example

I guess you're talking about my point on innovation & entrepreneurship. What I meant was - innovation and entrepreneurship are two different things which often mingle. For example, a person building a business by assembling parts of computer and selling the final unit 'an assembled computer' is an entrepreneur who's not innovated in any way.

On the other hand, if you created/invented something that didn't exist before and then building a business by selling your innovation/technology then you's would be innovative entrepreneurship.

I hope it's not confusing anymore.

narayana murthybut aj i think we can make it without such investments because there are many sponsers if we make any new thing with small things which we had and get success we can get money for more success
this is my view if iam wrong correct me

If one starts small or very small - he/she can manage all the money all by himself/herself. The sponsors and funding may come at a later stage or you may not even need it. The key is to find people who'd be interested in buying your stuff from you.

Venture Capital and Funding are modern concepts where all the fund raising process is done formally.

Instead, get your friends, family, relatives to invest in your business/idea and I'm sure you can get started. It's difficult, but not impossible.

Right it is not such an easy task to manage money to start small business for every one.it was the time when there ws a lot vacant seats fr different jobs but now todays competitive world needs a big effort n lot of tasks.this the time,where people believes in quality products and you have to be wid different ideas to proof yourself that u r different....

What i noted, today's youngsters have zeal of entrepreneurship ..they have good ideas and some even have wonderful execution plans but one thing all possess that is "fear of failure".😔
This means they are not entrepreneur material because they have not trait of guts ,enjoying failure then why other take risk ?

Everyone fears failure. No one loves failure. However, fear of failure motivates few to handle it and do something about it, and others 'give up' because of it.

The_Big_KThere are thousands of people who're willing to be money on good ideas.

Really???

Ofcourse...Money is the major reason, why students not becoming an entrepreneurs

If people had ideas, we'd see many innovative college projects. But we don't. Do we?

I dont think,that most of the college lecturers will appreciate the student who comeup with the idea..

Simply they will say, think about the feasibility before starting this.. 😔.

This is the case in most of the colleges.

I see excuses. In my earlier post, I said start small. When you start small - you don't have to invest lot of money. Isn't that simple? Why'd college lecturers and professors object to a new idea if you're capable of building it?

Actually, (what students do, is) what ever idea comes in their minds, that is for projects, they tell it to the teachers. The teachers, on the other hand, try to turn down the students big time(no, no, I am not trying to be pessimistic, even if you feel so.) just because of some ego. And if not the teachers, then the finances. What happes is that not all ideas may look good enough when made small, and that can make the students stressed.
Actually, the reason behind why the students can't make innovative projects is not much explainable. You simply can't pin-point it. The quality of Indian students is that they are taught to look at both sides of the same thing. This is not taught in their schools, but this is taught by the society as a whole. You cannot do anything more than your parents teach you. you cannot do a part time job like newspaper boys, shopkeeping helper because of the fact that you have to keep up your family's dignity. That means you get a hard hit at the finances if you are an Indian. The rest, well, you can understand that.

I agree with aj_onduty. There's more to that. The society thing is well understood in Indian context. But I disagree on the finance part. If teachers/professors/lecturers turn down a project idea, there's absolutely no reason for the students not to pursue it as their own. What's stopping them from building that new remote control by borrowing money from parents or forming a group who can share the expenses?

With my understanding, in India that engineering course fee is way too high and only upper middle class can really afford it. But then I also see thousands of engineering students wasting time on coffee, pubs and liquor. Isn't that something that needs to be worried about?

By the way, are we all down to blaming the external factors: Parents, finances, society, neighbors to end this discussion?

The_Big_KWith my understanding, in India that engineering course fee is way too high and only upper middle class can really afford it. But then I also see thousands of engineering students wasting time on coffee, pubs and liquor. Isn't that something that needs to be worried about?

By the way, are we all down to blaming the external factors: Parents, finances, society, neighbors to end this discussion?

I will give you a glimpse of what happens in Kerala. For honour's sake, parents use loans to let their child pursue engineering. Actually,65 percent;of engineering students in Kerala come from a poor background(If you think I am wrong and I am over-exaggerating, lets go to Kerala. You bear the expenses. I will show you.). I have seen many ideas go to dust because of finances. They come up with great ones, greater than even university tops can handle(truly impressive ones), which are either turned down by the professors(Just because they didn't understand it or because they have a superiority complex), or are turned down by themselves because they do not have enough money. They cannot do any kind of a part time job as they come from high castes. If they do, they will face the wrath of the society. Now what will they possibly do, rob? Well, that is the only option. 😁

Even i liked your idea .. can u tell me wat does virtual company means and is it possible to set up at college level

There are thousand reasons to do something and thousand reasons to stop something!

No one can get everything in life! If you want good name in society, parents, relatives, college ,friends blah blah then you will achieve nothing but a job in some company!

If you have a great idea and if you need money why can't you work part time?

Why can't you stop spending money on liquor/friends and save that money?

If someone want to do something then he will do it, its just the want which drives anyone!

as many pointed out, "Fear of Failure". Everyone is ready to say the quote "Failures are the stepping stones of success" but no one really believes it and follows it.

In childhood when you try to walk you fall and you fall again and again until you walk thats the dedication to walk , the same case can be applied in pursuing passion.

This topic has been discussed already.
As it is said already, there may be many reasons to do one thing and many other reasons for not doing it. If you ask me, I would say that all it requires for anyone to become an Entrepreneur is PASSION.
When we speak about a start-up, the first thing that comes in our mind is money. Every business needs an investment but it varies according to the size of the business market. As our big_k pointed out, for a small start-up, it doesn't require millions of rupees.
There are many entrepreneurs who started from nothing but now making turn overs of millions of rupees.
All of us are afraid of failure but those who overcome it and are willing to take the risk, emerge as winners.

The Society influences us in a lot of ways. Every time a new idea or innovation is brought up, people initially hesitate to try it because they are afraid to experiment their money on new products. All of us are the same. We dont buy new items everyday on the market. We enquire about all the products and we will buy the best which will suit us. So we cant blame the society for not encouraging start-ups.

Engineers are not thinking of providing job opportunities to others. I asked my friends what they are going to do after their graduation. Everyone of them came up ultimately to a job in a MNC or equally big company. This is because
1. They need Job security (as said before)
2. They need a permanent fixed monthly income for their family
3. They have their own family reasons
4. They are afraid to take risks
5. They don't know what a business is.
6. They are not from a family which has strong business background.

Our education system deals with shares, market trends, investments, etc... But we don't have a practical knowledge about busiiness. If we want more Entrepreneurs, we have to teach, educate our budding engineers about the risks involved in businesses and encourage them in starting new business ventures.

I wonder why people take 'Job Security' for granted. Is there any company that guarantees job security on paper?

Our education system deals with shares, market trends, investments, etc... But we don't have a practical knowledge about busiiness. If we want more Entrepreneurs, we have to teach, educate our budding engineers about the risks involved in businesses and encourage them in starting new business ventures.

Agree. First criteria for students is their 'willingness' to be an entrepreneur.

#-Link-Snipped-# Now I'm giving new direction to this thread. Read complete thread and coming to the conclusion.

A glimpses of money spent/month as being an Engineering student(It's me only).

Daily Cigarette -> 6-8 (40RsDaily/1200Monthly)
Weekly Beer ->500Rs(Monthly)
Wondering with friend with no cause->50Rs (Daily)

Total-Approx. 3000Rs. Completely Wastage of Money.(Excluding Internet Connection fees).
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Idea😲_O (Old wine in New Bottle)
Now, I'm trying to start company. Which will be helpful for those who own Small and Medium Business.
For them i can create a customized website for there company, service or product. With Web Host facility with my own company in an Affordable price.(Starting with SMALL, Microsoft-II(2035)..
This is the cool idea, if start with your own "GUTS".

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The Problem:😭 (For Start-ups)

* I don't have Job. Everyone is got hired(Friends). In home everyone spitting fire(Including Relatives).
* Inferiority Complex. Due to lack of communication(English).
* Not so social.(Read Almamaterstore.in case-study, "Anu Aunty Book").
* We hesitate(Fear of failure) take leap step forward. Even if someone try to raise funds . Because we think like it as LOAN.
* A good trustworthy, Genuine, Supportive "PARTNER" is very hard to find.
******** You name it further problem, Everyone got there own.

“People don't believe what you tell them.
They rarely believe what you show them.
They often believe what their friends tell them.
They always believe what they tell themselves.”
― Seth Godin

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The Solution😎:

% Believe in yourself. (Think like this, Someday my video is also going to be like "Gangam Style")
% Take Patience.

Every great dream begins with a dreamer.
Always remember,
you have within you the strength,
the patience,
and the passion to reach for the stars to change the world.

% Never worry about money. It can be manageable. (In my case, Reseller Hosting costs only 3000-4500Rs/Month, Now what Im doing..😴 ?)
..% Your Problem(Your Solutions).
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The Opportunity😁: (Only For Engineers..!! Also for those who think they are tech..😛 )
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$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$World is full of sorrows, who's gonna wipe it?$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Hope you understand my words.
Correct me if you can.

Thanks...

“The job is what you do when you are told what to do.
The job is showing up at the factory,
following instructions, meeting spec, and being managed.
 
Someone can always do your job a little better or faster or cheaper than you can.
 
The job might be difficult, it might require skill, but it's a job.
 
Your art is what you do when no one can tell you exactly how to do it.
Your art is the act of taking personal responsibility,
challenging the status quo, and changing people.
 
I call the process of doing your art 'the work.'
It's possible to have a job and do the work, too.
In fact, that's how you become a linchpin.
 
The job is not the work.”
―  

Dedicated to future Entrepreneurs..!!?

Since you tagged me, I'lll add my response. I see you're in the same situation that most of the wannapreneurs are. This situation is actually a good situation to be in. You already seem to pass the first test - 'strong desire' to start up on your own. You've already calculated the expenses you 'waste'.

If you want to start a web development business, the only thing you need to get started is to move you bum out of your chair and just start talking to people in your local vicinity. You don't need English skills. In fact, you'll attract more business if you converse with people in 'their' language. It's plain common sense.

So assuming you've knowledge of open source software and can find a cheap but reliable web hosting service, you should be good to go. Just decide for an attractive pricing for your clients and start building your business right away. I see the rest of your post is all about excuses.

If you're thinking of starting up, I'm not sure why're you so concerned about not having a job. Part time is harder than full time. I've done it and I can tell you that you'd be happier if you spend dedicated time on your business than work for someone else. You will start making money at the end of the week if you take your first step today. Trust me, give it a 100% dedicated push and tell me how much you made by the end of the week.

what about those like me who has no idea but looks around for an idea?
apart from job, tried hands on commodity trading, part time jobs.. nothing helps really ...
always searching for an idea in real world (this line's stupid but there are people like me)
any one have any idea how to get one?

my first introduction to the word 'entrepreneur' was via a network marketing company... i dont agree they are entrepreneurs 😁 their thing was getting fooled first and then making others fool.. understood this after getting fooled myself..

deviating from the topic
sorry

whats lacking is an idea ! its not easy to get one.. easy to talk about it .. just like this..

Getting an idea is no big deal - everything lies in 'execution'. That's where everyone fails. Just try to see a problem that bothers you and can there be a system to fix it. If a problem bothers you, it definitely bothers a *large number of people* out there. You've a business idea to work on.

The_Big_KI wonder why people take 'Job Security' for granted. Is there any company that guarantees job security on paper?

The name of the company is Indian Government (Civil Services IES, IPS, IAS, IFS etc). Almost 100% people in Government will tell you that their job is secure. It is true.

Also people in PSUs upto certain extent can claim it.

When you go down to private sector, you see job insecurity.

P.S: I don't know why we are scratching our heads for this thread.

Lemme begin with a fact- The upcoming employment bill by Government of India aims at -power of terminating the the employees(off course the least productive ones) of the PSUs and the Govt. offices ; i.e. creating the Unstable employment Climate in the government sector..
What I personally feel is that the real aim of life is enjoyment and dedication to a work and which can be felt truly only by being an entrepreneur.
Many people claimed - Lack of working capital in the the thread but what is required is the zeal and the enthusiasm to make your idea happen. This will require will to go beyond any limits to make idea happen...
What entrepreneurship is aimed at - solving societal chaos and problems and inconvenience(s) in the best possible way.
The Law of nature says - every action has equal and opposite reaction,i.e. If you give more in the form of solving more societal problems; your problems will automatically be solved ie. you will get the money power in return .
.....Increasing the length of mah post...-
What I feel so is there could be many reasons of not being an entrepreneur but there could be one passionate feeling to make you an entrepreneur . What matters is your zeal and enthusiasm and thoughts and ideas (as called innovative by Big K )lurking in your in our dreams .
concluding...
by a quote by APJ Kalam - Dreams are not those which you see during sleep , but Dreams are those which doesn't let you sleep!

..........pls one more head- ie a query / question #-Link-Snipped-# and others ...
What should be the route - of the entrepreneurship - regarding the costumers/clients/beneficiaries..- Aggressive or Defensive ??

#-Link-Snipped-# : Didn't get your question. Could you please elaborate a bit on it?

#-Link-Snipped-# What should one do -
If he sees inactivity in the minds of the target Consumer.
According to me , an aggressive route could be - forcing the consumer ie. again again repetitively coming to each and every consumer and asking the possible reasons for not purchasing the product/project (a kind of pushing them ; of course if you have faith in your Project/product) or defensively waiting for them to gradually accept you then develop faith then gradually attracting them ....

We should focus on user oriented products in India. We always hear about companies like Google; Facebook; Yahoo; Oracle from Silicon Valley but all these were startups that were established by normal people.

Currently, from what I see, there is no as such user oriented product we have built in India. Most of our products are in services. Once we focus on that, we would have tons of people willing to take risks. This is one of the reason why you see soo many engineers going to the Valley in US to work as you actually don't get to work on product that has mass appeal in India.