In everyday life cycle of a common man majority of time is involved in their work. The professions of different people may vary from each person in different ways. But majority of the works are for generating revenue for living. Some professions generally start at 9:00 a.m and ends at 6:00 p.m, but they are professions that happens 24 x 7. Professions which occupies complete life cycle of a common man, everyday for planning, preparing, executing, gaining the revenue , organizing etc is one and only entrepreneurship.
When we go out of our home, we see many people around already involved in entrepreneurship. When we try to list out, we can find like milk seller, Idly/ golgappa sellers, Kirana, vegetable seller, books and stationery, restaurant, chatwala, hair saloon , printing and xerox internet, water bottle seller, chicken and poultry meat, iron pressing, mobile shop,etc. Each and every person outside our residence are involved into some type of entrepreneurial profession. When going to Deep in their life, we can see all the planning and operations would match a corporate company with simple nomenclature.
Let’s consider a samosa seller. His /Her planning starts one day before the execution day. He / she plans the budget, the product requirement, get ready with all tools and utensils, make up the team, probably their family members. Choosing the right locality for serving, pointing the correct time for the same. These all aspects generally happens in a corporate business on a paper and computer under large management. However, it takes lot of time to take this decision to execute it. By that time the unorganized sector sells more.
Markets in INDIA
50% of GDP contribution to the country by unorganized sector market and businesses
The unorganized sector in INDIA occupies more than 50% contribution to Indian GDP. Their planning, budget product mix, timing at festivals and events to sell a product ,their negotiation skills may be much native and unprofessional. But their thinking matches 100% to a corporate which sells the same product luxuriously . We can see is semi luxurious product of original product in our market which is solely marketed by the seller, He connects to the customers much nearer with their understanding and requirement, physical expression. This cannot match to the high cost advertisements on a TV or a smartphone ads.Their marketing strategy, negotiation, customer capturing, holding them for sale on spot, Discounting thinking mostly matches to the CEO of a corporate company.
In a huge democratic country like India, there are lot of youth coming out from graduation every year into job market. But unable to find a job of their anticipation. If Government and public encourage by buying their products could boost the demand for product and service, which also satisfy the job requirement of the youth of INDIA. From next time when we talk about entrepreneurship, we have to talk about unorganized sector around your home.