Entrepreneurship is a high-level trait that can provide more knowledge to an entrepreneur in four months than a four-year level. But where does an entrepreneur start and does he have to focus on one start-up, or does he have to keep exploring options and improvise for new ventures all the time. What is the sustainability period of a start-up?
In the Pakistani market, the economic and political situation is very fast and keeps changing very fast. It is very difficult over time to keep up with the new rules and regulations introduced by the government. Entrepreneurs are increasingly under pressure to keep pace with regulatory changes and find it very difficult to adapt to ever-changing regulatory requirements all the time.
A recent study identified that there are two types of entrepreneurs; 1) Those who start a business and continue to grow it, and bring it to a certain level of maximum potential and make it sustainable, 2) There are entrepreneurs who start a business, develop it to a certain level and then have started another vertical of their interest.
It remains a big question that if an entrepreneur has to take an initiative, make the business sustainable and continue to manage it after it has achieved its full potential. Or they must have the ability to create a series of initiatives and continue to develop new start-ups. The answer to that is a bit confusing and has many goals attached to it.
One school of thought says that keeping it vertical and sustaining it by constantly doing a SWOT analysis should be the way forward. That way, a business can achieve more potential and have people associated with it for a longer tenure.
Another school of thought can argue against this by saying that, with the introduction of new verticals; after the initial start-up has achieved a full life cycle; entrepreneurs can achieve more and contribute more overall. The entrepreneur can be seen as a serial entrepreneur by having a portfolio of successful businesses and will have more to his credit. Also, after a while, a business becomes more difficult and the entrepreneur gets tired of the tedious work.
Although there are examples to back up both situations, the debate is never ending and we are getting nowhere. Whatever the situation, one thing should be nurtured…and that is entrepreneurship because that is where creativity comes from and it is the oxygen in the ecosystem of any country.