Shamit Khemka on how entrepreneurship has changed in the digital era

Shamit Khemka, the founder & MD of SynapseIndia, started his career in the Indian IT industry as a foresightful entrepreneur in 2000. He saw the immense potential of the IT outsourcing sector which was largely unexplored in India at that time. Today, SynapseIndia is a well-known player in the digital transformation movement.

Digital entrepreneurship has lately gained significant popularity in developing and developed markets alike. It can be defined as the adoption of new ventures and the transformation of existing business infrastructure by creating and using novel digital technologies. Digital enterprises are characterized by higher utilization of cutting-edge digital solutions like analytics, cloud computing, and social media to interact with customers and stakeholders.

With a surge in digital entrepreneurship, businesspeople are thinking of a variety of new ideas and business models. However, digital entrepreneurship opens up new questions about the strategy, opportunities, and risks associated with this model of entrepreneurship.

One of the most striking benefits of digital entrepreneurship is its operating cost. The physical world of business is too costly to start a business for many new entrepreneurs. The digital world not just dramatically reduces operating cost but also offers a variety of pathways.

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Shamit Khemka – how to set the journey from an employee to entrepreneur

The definition of entrepreneurship is tremendously broad and diverse. It can be defined differently by different individuals. However, a commonly accepted definition of entrepreneurship can be put like this: entrepreneurship involves an entrepreneur who tries to solve a problem or invents something that useful for society and/or consumers.

Your journey of entrepreneurship should start with the re-discovery of your true self. It's mainly about what you are good at and what you enjoy doing. You need to ask yourself thought-provoking questions in order to figure these things out. The next step would be brainstorming on your knowledge about business ideas. The ideas may be triggered by challenges faced by you or any novel concept that came across your mind.

Once you've decided about the business idea, the next would be to research and test them rigorously. This process will not only allow you to judge the practicality of your business idea but will also boost your confidence. You're almost ready to launch the venture after completing this critical step. Make proper financial analysis and start your journey as an entrepreneur. All the best!

Click here to know more about Shamit Khemka : https://www.youtube.com/watch?v=8blpwnsD08M