‘Be your own boss’ – sounds exciting. Well, that is what entrepreneurship is all about. It is about pursuing something of your own, creating a brand and becoming the architect of your own growth.

At JRU, we train, encourage and inspire young minds to become innovators and entrepreneurs. Students of JRU aim high to become job creators and not job seekers. As a step towards this mission, an expert talk on the topic “How to build a career in entrepreneurship?” was organized on 18 October 2019.

The session was addressed by Sunil Kumar, Vice President Operation, Atal Bihari Vajpayee Innovation Lab (ABVIL). The special talk was jointly organized by Jharkhand Rai University, Ranchi in association with Institute Innovation Council (IIC).

Mr. Kumar gave his deliberations and explained precisely the recent developments in the startup and innovations field and how government policies in India now support the startup ecosystem.

He said, ‘Entrepreneurship is a great way to get out there, learn and build your career. Many young minds did just that to find their true calling, understand what they really wanted to do in life and know the career they were meant for.’

He added, ‘Entrepreneurship can push the candidate in the right career development path and teach numerous things. The Government has come up with a wide array of startup schemes and startup funds to encourage launch and growth of startups in the country.’

Handing out a practical advice to the students, Mr Kumar said, ‘Unfortunately, not everyone is cut out to be an entrepreneur. Or at least, not by nature. To run a business, you have to be smart and adept enough to assume the proper role.’

Here are some crucial points to becoming a successful entrepreneur.

Take the first step
Before you begin, you need a new and unique business idea. Right! If you have one on your mind, get right to it and start the market research. If you haven’t identified an idea yet, you need to spend time figuring out the idea that will help start your entrepreneurship journey. Do something that you love and you will have enough enthusiasm to pursue it for long. Do ample research on your idea to know if someone else is already working on similar idea.

Business planning
Once the phase of idea generation is over, make a plan. A business that lacks a strong planning will have difficulty in succeeding. To begin with, note down all the aspects of your business and the amount of efforts it will take to reach a certain goal. This will give you a rough idea of the costs involved.

Market research
Before jumping into the business, now that you have a business plan, do the necessary market research. It will tell you whether you have a receptive market for your business.

Make a business model
To transform your idea into a business, make a business model. It will help you decide, how will your business operate and work, what kind of services you will have to provide, how will people/customers benefit from your business and who all will you need to hire to make it happen.

Find a co-founder
For any startup to succeed, you need the support of a co-founder. Hence, before you begin, identify a cofounder and make that person become a part of your journey.

Register your business
Don’t forget to register your business. You can take advices from your advisor/s on how to do fulfil the registration process.

If you are wondering what are the career prospects of studying Geology, then keep reading. JR University Ranchi recently held an expert talk to explain students the relevance of geology in the economic progress of India.

Senior Manager Bhim Ray from Mineral Exploration Corporation Ltd delivered the motivational talk organised by Department of Civil Engineering of JRU, Ranchi, at the University campus. HOD Dr Shraddha Prasad welcomed Mr Rai and presented a plant as a gesture appreciation.

Mr Rai, during his talk informed students and walked them through the history of Mineral Exploration Corporation Limited (MECL). He told them that MECL was established as an autonomous Public Sector Company in October 1972, under the administrative control of Ministry of Mines, Government of India for systematic exploration of minerals, to bridge the gap between the initial discovery of a prospect and its eventual exploitation. MECL has the Mission “to provide high quality, cost effective and time bound geo-scientific services for exploration and exploitation of minerals”.

MECL has completed over 1475 projects/reports and established 171452 Million Tonnes of ores/ mineral reserves of minerals like Coal, Lignite, Bauxite, Copper, Gold, Lead-Zinc, Iron Ore, Limestone, Manganese, Magnesite, Chromite, Fluorspar and several other Industrial Minerals since inception (As on 30th June, 2019). It has recently diversified into mining and beneficiation of minerals and sampling & analysis of coal stocks.

He said that the career prospects for Geology study is immense and identified three key areas where they are employed –
1. Geologists and engineers are employed in the search for and production of mineral resources.
2. Mineral Exploration, mining and industrial minerals companies employ geologists, geophysicists and engineers.
3. Mining and exploration consultancy companies also employ a similar set of geologists and engineers.
Mining and minerals exploration usually refer to operations that search for and extract minerals. These extracted minerals can then be processed to produce metals such as iron, copper, gold and zinc in addition to other essential elements such as phosphorus.

Industrial minerals companies also explore for and extract minerals. These extracts are used in their largely unprocessed form. This includes resources extracted by quarrying including aggregates (sand and gravel), slate and limestone and those extracted by more complex mining methods such as clays and gypsum.