En number of startups are now being opened up, many of which even end up flourishing. This drive is mainly due to the nature of the digital economy, but also due to the growing disillusionment with the corporate lifestyle. This corporate world is still working under age- old hierarchical models, with little scope for creativity or flexibility. Talent management practices are almost non- existent in some places. For upcoming entrepreneurs, there are certain dos and don’ts they need to keep in mind. For a start, they need to experiment, before finalizing on any plan. Their financial plan needs to be realistic. A concrete plan needs to be put in place to ensure timely cash flow. One mustn’t take up any work in panic, that will distract from the real core. Most importantly, all budding entrepreneurs need to figure out their family commitments, before plunging headlong into any such risky venture.

Source:https://knowledge.insead.edu/blog/insead-blog/making-the-leap-to-entrepreneurship-10701

Uploaded Date:15 January 2019