Recently, we marked World Entrepreneurs’ Day—a celebration dedicated to the fearless visionaries who dare to challenge the status quo and bring transformative change to the world. It’s a day that highlights the essence of entrepreneurship: an unwavering belief in the power to dream, take risks, and, most importantly, create opportunities where they seem impossible.
Entrepreneurship is not just about business. It’s about envisioning the future, believing in your ability to turn ideas into reality, and relentlessly pursuing your goals—even when the odds seem insurmountable. The true success of an entrepreneur is measured not by their initial resources, but by their courage to defy limitations and keep moving forward, no matter the setbacks.
One of the defining characteristics of successful entrepreneurs is the unwavering belief in their potential and vision. Allama Iqbal’s timeless words resonate deeply in the entrepreneurial world:”Khudi ko karbuland itna, ke har taqdeer se pehle, Khuda bande se khud poochhe, bata, teri raza kyahai?” (Raise yourself to such heights that, before destiny itself can alter your fate, God will ask, what is it that you desire).
This philosophy perfectly captures the essence of entrepreneurship. It’s not merely about the opportunities you’re given, but about the vision you cultivate and the relentless pursuit of that vision. Entrepreneurs understand that their drive, passion, and belief are the keys to shaping their future. They don’t wait for luck to strike—they create their own opportunities.
As someone who has been into a small family business for a significant period of time, I’ve experienced the full spectrum of what entrepreneurship truly means. I’ve seen one our small ventures soar to heights in a short time. In those moments of success, you’ll find that you’re suddenly surrounded by relatives, acquaintances, and well-wishers. Everyone wants to be associated with a winner. But entrepreneurship isn’t just about the good days. I’ve also seen that same business crumble—not because of market forces alone, but because of a casualand careless approach of a family member who was entrusted with managing it.
And when the tough times come—and they always do—you realize the harsh truth: when things go wrong, most of the crowd disappears. Only a handful—your real people—stand by you. But even in those moments, you can’t give up. Because you’re an entrepreneur. You carry the weight of dreams—not just yours, but of the people who depend on you. When I started my own independent venture, my intention was deeply rooted in social purpose: to help the poor and underserved.
I wanted to empower them, to help them earn at least their daily bread. And yes, some of them did benefit. But trust doesn’t come easily. Sometimes, those you try to help may even begin to plan against you. Yet, as an entrepreneur, your commitment has to rise above disappointments. You’ll find that the costs—financial, emotional, even spiritual—sometimes outweigh the visible results. But still, you carry on. Because entrepreneurship is also about hope. It’s about believing that your work today can create a better tomorrow.
India has produced remarkable entrepreneurs whose journeys continue to inspire. Dhirubhai Ambani, who began with almost nothing, built one of India’s largest industrial empires. Kiran Mazumdar Shaw, who started Biocon in her garage with no formal background in biotechnology, rose to become one of the country’s leading biotech pioneers. Ritesh Agarwal, at just 18, risked everything to start OYO, navigating rejection and setbacks before building a global brand. Vineeta Singh, co-founder of SUGAR Cosmetics, stood strong against international competition and carved out her own space in a saturated market.
At the core of each of these stories is the spirit of innovation. As renowned Indian scientist C.N.R. Rao once said, “Innovation happens when you don’t wait for things to happen, but when you make them happen.”Entrepreneurs don’t fear failure—they embrace it. Thomas Edison said it best, “I have not failed. I’ve just found 10,000 ways that won’t work.”That’s the entrepreneurial mindset—viewing failure as feedback, not defeat.
While financial success is often associated with entrepreneurship, true entrepreneurship goes beyond profit. In traditions like Hinduism and Islam, entrepreneurship is considered noble when aligned with ethical conduct and social good.In Hinduism, the concept of Dharma teaches that work should align with a higher purpose, aimed at benefiting society. Islam, too, places strong emphasis on ethical business: the Prophet Muhammad (PBUH) emphasized honesty in trade, and the Quran calls for fairness and transparency in all dealings.
Seen in this light, entrepreneurs are not just business people—they are change agents and community builders. I’ve tried to follow that path in my own journey, even if it hasn’t always been smooth. When you lead a business with purpose, you touch lives—but you also shoulder the weight of those lives. It’s never easy, but it’s always meaningful.
As the world faces an increasing wave of climate unpredictability — flash floods swallowing cities, erratic rains endangering livelihoods — it’s no longer enough for entrepreneurs to innovate solely for profit or convenience. The landscape of creativity must shift. Today, true innovation demands responsibility.Entrepreneurs must become solution architects not just for markets, but for humanity.
Every product, process, and platform we create holds the potential to heal or harm. Can we reimagine our ventures as instruments of resilience? Can a startup combat water scarcity? Can a supply chain redesign preserve biodiversity? Can a business model empower communities to adapt to a changing climate?
Innovation isn’t just about what’s new — it’s about what matters. And in an era where the environment is sending distress signals louder than ever, the most creative act might just be finding ways to build not only smarter, but also more sustainably. The future belongs to those who can solve not just consumer needs, but planetary ones.
In India, challenges like microplastic pollution and poor hygiene in the food industry also present real opportunities for innovation. For example, in regions like Kashmir, where concerns about restaurant hygiene are high, there is space for entrepreneurs to step in with tech-enabled food safety solutions that protect both consumers and businesses. Entrepreneurs can be the ones who solve these problems—not just by building businesses, but by building better businesses.
As a community, we must broaden our definition of entrepreneurship. It’s time we stop reserving recognition only for business tycoons and start celebrating all entrepreneurs — big or small, known or unknown — who are solving real problems and driving meaningful change. Innovation doesn’t only happen in boardrooms; it happens in local kitchens, small workshops, and quiet labs. If we truly want to move forward, we must honour and support the spirit of entrepreneurship at every level — because that is where our future is being built.
For innovators and entrepreneurs, remember whether you’re just starting out or have been at it for years, remember this: you’re not alone. And your work matters. So, to every innovator and entrepreneur reading this—especially those who’ve stumbled, been let down, or felt alone in their journey—keep pushing boundaries, keep innovating, and keep building the future you want to see. The world needs you now more than ever.
(The Author is Associate Professor, Department of Management, Convener Institution’s Innovation Council, ITM Gwalior and an IIMA (FDP) Alumnus. He is certified Business Consultant by AIMA and can be reached at: [email protected])
