Entrepreneur

Today I had a dicussion with my roomies about the basic qualifications/necessities to start a business. The topic was actually started by the other guy who was asking us what are our future plans and the topic started with that.

I putforth my views about starting a business is :

1. An urge to start a business and make money. Generally anybody would be interested to make money but when talking about business and managing a company one has to have business acumen and dedication in what he does and also should be aware of the risks.

2. An entrepreneur need not have an indepth technical knowledge or in out knowledge if the product.It is essential to have the idea of
a. how the product is produced/manufactured or made and the processes involved in that
b. how his product is different from his competitor's product
c. his business goals to succeed.

3. It is always not necessary to have an MBA degree to start a business but some basic knowledge on how to manage would help.

4. Later when the business grows he can learn (by doing an MBA or hiring appropriate people) so that things do not go out of control.

5. If the person is really interested in becoming an entrpreneur he would think of every possible opportunity to become one.

Your comment/additions are welcome.

Arvind