Entrepreneurship is a high-level trait that can give more knowledge to an entrepreneur in four months than a degree of four years. But, where does an entrepreneur start and does he need to focus on one start-up or he needs to keep on 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 volatile and keeps on changing rapidly. It gets very difficult with time to keep up with the new rules and regulations introduced by the government. Entrepreneurs are increasingly under pressure to keep up with regulatory changes and they find it very challenging to adapt the ever-changing regulatory requirements all the time.
A recent study has identified that there are two types of entrepreneurs; 1) Those who start a business and keep on growing it and take it to the certain level of maximum potential and make it sustainable; 2) There are entrepreneurs who start and business, develop it to a certain level and then start another vertical of their interest.
It remains a big question that whether an entrepreneur needs to take one initiative, make the business sustainable and keep on managing it after it has achieved full potential. Or, should they have a knack of taking a series of initiatives and keep on developing new start-ups? The answer to that is rather tricky and has many objectivities attached to it.
One school of thought says that keeping one vertical and sustaining it by continuously doing the SWOT analysis should be the way forward. That way, a business can achieve more potential and will have people associated with it for longer tenure.
Another school of thought might argue against it by stating that, with the introducing new verticals, after the initial start-up has achieved a full life-cycle, entrepreneurs will be able to achieve more and contribute more overall. The entrepreneur will 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 less challenging and the entrepreneur will get bored of the tedious routine.
While there are examples to back up both scenarios, the debate is never ending and takes us to nowhere. Whatever the case might be, one thing is to be nurtured and that is entrepreneurship because that is where the creativity comes from and it is the oxygen to any country’s ecosystem.