Wednesday, December 25, 2019

How entrepreneurship can be promoted in Pakistan?

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How entrepreneurship can be promoted in Pakistan?

This article builds your interest in entrepreneurship that what strategies we used to promote entrepreneurship in Pakistan. Entrepreneurship is the process of structuring, organizing, managing activities and risk-taking in an organization or business. In Pakistan, different new business sectors are introduced last year. The new government made strategic planning relate to how entrepreneurship can be promoted in Pakistan that boosts Pakistan’s economy. But here our main concentration on how can we promote entrepreneurship in Pakistan.


Does Entrepreneurship and startups in Pakistan is it helping the young generation in getting there closer to their dreams or is it just a puzzle?

It's an interesting question this one because entrepreneurship is definitely the topic of the year or the last two years in fact or it's a positive thing but the point is that Pakistan is time has come entrepreneurship is certainly the way through for the future if for no other reason out of economic necessity, new generation comes and they can't get jobs, they have know and to go, after years and years of education what are they going to do! So entrepreneurship is essentially a necessity for Pakistan or since they're not going to be enough jobs. People need to find a way of making a living. So, this is entrepreneurship which is probably the only real option for Pakistan.

Funding is one of the big questions that every startup has on its mind? How can startups fund themselves to get to achieve their goals?

Without money, thee really cannot progress. Any business essentially needs capital to operate and expand business or perform the business activity or capital is the backbone of any type or size of business. Because in Pakistan, entrepreneurship culture is new and developed. So, capital is not easily found. Because we don't have the VC funds, we don't have private equity; we don't have a lot of angel investors. After rest, some of the time entrepreneurs join and involved but it's not that easy for a start-up. So practically you should expect you don’t get money and you have to make you with what you have. So what you can raise from family and friends or what you have intense of your capital or at least set the business up in a way that quickly and fast generates the revenue. First, think like that and secondly do cast the net out far and wide and you never know where the investor might come from you.

What are some of the common mistakes Pakistan’s young entrepreneurs did when they are starting over the idea and expand carry out the business?

A lot of start-ups, which they make when they're trying to get entry into Incubation Centers and so on. So let's talk about that aspect, first of all, up at the end of the day there are a lot of people in Pakistan who think getting into an Incubation Center, if the plan is gone, just like LUMS’s Incubator or NAZCA Incubator Islamabad. They just feel like that's going to solve all their problems. Well, incubators don't solve all your problems so you need to make sure your business model has a sound like good and great, something that's worthwhile pursuing. Because entrepreneurship’s chances of success are not high at first 10% would succeed realistically maybe only 5% of the startups will succeed so odds are against you and you better make sure that you do the homework and so on before you dive in. We have assumed some big mistakes; especially, in technology that people just to focus on the product and besides the product, they don't think about marketing, they don't think the number is the financial aspects of it and they make a beautiful product. Make such a good product in which they felt was the need for the art and then they discovered no one wants to buy, nobody wants to pay money for it. So you better make sure that whatever you're making somebody is willing to use it, buy it, and pay money for it.

Is entrepreneurship it's more like a one-man’s job? Is it the case, What an Idea of Someone can it go far off?

The interesting thing is whenever enterprise successful it means we normally associate the success with the founder. Just like, Apple is a huge company everyone talks about Steve Jobs, Microsoft maybe talk about Bill Gates. Yes, they did find a near those enterprises but there are hundreds if not thousands of people who supported them to become so successful. So, entrepreneurship is not a one-man sport it's a team sport and without a good team, you're not going to be successful.
What makes a good team?

 We found people have to have the right skill set. They have to have the right attitude. They have to have that level of commitment. If you are forming a team so you can't just have a team full of IT professionals, nor full of technicians. You need marketing people, you need to finance people, and you need people with a business background. Unless you have that balance, your team will not be able to succeed.

To promote entrepreneurship in Pakistan, our main focus is to aware of home-to-home, door-to-door entrepreneurship skills guidance. Through social media that how to earn money, how to boost the nation's economy because the majority of us waste their precious time on social media and they don't know how they kill their time.
Freelancing is the high demand at the time. Here are some of the high demand freelancing skills of the freelance industry:

  • Digital Marketing
  • Virtual Assistant
  • Writing and Editing
  • Graphic Design
  • Accounting and Book Keeping
  • Customer Service
  • Social Media Marketing
  • E-commerce
  • Web Development
  • Blockchain
  • Search Engine Optimization
fiverr.com provides a platform for freelancer services. A service offered on Fiverr is called a Gig. You can search for a top-rated freelancer by using Fiverr’s filter.


Authors:




Abdullah

Muhammad Zain

Muneeb Khan


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