Saturday, February 07, 2009

why be an entrepreneur?

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There is a certain energy in entrepreneur that you cannot escape when you meet them. They can energize and recharge your dead cells in ways in which none can revive more. I met Mr. Ramesh from EDI who has a typical Indian humble beginning in rural setting and a atypical unconventional follow through. Against all odds he became an entrepreneur and a very vocal proponent of same through the institue for which he takes classes. I would like to thank Mr Pritam for introducing me to Mr. Ramesh.

He mentioned that entrepreneurship has to do more with behavior of an individual than most other traits. A belief that you can create opportunity for self as well as for few others. Its not restrictive to me and my family. We in indian setting have been brought up with the mindset of procuring job security through a job only wherein you work in direction of others and will continue to do so till you forget how you can set direction for yourself. In recession like this how much secure is your job than the failure of the venture that you may undertake.

Even if you have a monthly liability of lakh rupees you can start with creating one rupee revenue each month and then growing it to Rs 10,100,1000 and so on till your liability goes instead of waiting your steady state to overtake that finacial liability before life goes.

There is one Mr. Reddy, who sells biogas plant in kolar and who is very open of all his financial transactions. His success rate while visiting villages is 99.7% whereas its 0.3% for government officials and I always thought Gobar gas is a failure in Indian context. With volumes he has built a business of crores.

There are three types. Social, business and corporate. Social entrepreneur is open books and all his transactions are known to the world at large and he runs a for-profit enterprise. Business entreprenuer is for money and can be open/closed about his financials. Coroprate entreprenuer is within an organization and is able to leverage the benefits for his empoyer within the constraints of the organization.

Its very important to trigger the true self while partnership and the sooner it is exposed the better will the enterprise fare. And only eyes can tell whether is the truth is being spoken too or not because mouth can utter what needs to be heard.

Ladies have a more affliate need than Gentleman and thus you need to be more careful while building partnership with them as you may unintentionally disrupt their affiliation and harm the progress of enterprise.

The idea is your baby and needs to be discussed extensively before taking the final plunge becasue if you abort in middle than it becomes hard for all stakeholders and you may even lose momentum out of which you may never recover giving a premature end to a wonderful idea.

You have to allow people to resolve problems with their own wits rather than you imposing your read ideas and best practices. Through this exercise only they would be able to internalize the solution and then execute it to perfection treating it as their own baby. You need to be a little more sensitive in Indian rural setting as they would distrust you more easily than see the validity of your idea.

What is your take on entrepreneuship and its relevance to indian socity? Do you think you can create more social entreprenurs impacting us than we ever did before?
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