Date: Aug 5, 2008 Time: 1900 - 2100 Venue: AC 3 LT
Key Learnings:
Entrepreneurship is not a money making business, do not get into entrepreneurship with sole objective of making money. Money is a by product and it will follow.
Entrepreneurship is beyond money, it is for those who want to be the master of their own priority and they want to create something that will last forever.
Be prepared to struggle financially whenever you get into your own venture as real ideas are not conceived in office cubical. It is the power of observation that gives birth to any idea.
Also be clear with all your business partners. In case you feel that you are not getting along well it is always better to sit, discuss and arrive at a conclusion rather then stretching it and hoping for the relations to improve.
Ideas always evolve over a period of time and you should be flexible to evolve your idea. Also great ideas are those that are scalable.
Do not take VC funding for the sake of it. Invest some of your personal money in your idea. VCs like ideas which have gone through bootstrap financing. If a VC is ready to fund just based on idea, then it sends 2 signal:
There is a bubble building in process.
You have a proven track record in past.
Usefulness of MBA cannot be measured based on your performance with someone else who has not done MBA, it is always measured by your performance that would have been if you were not MBA with that you have achieved after doing MBA. It brings in focus, helps structure the thought process and open new doors.
Aspects those were impressive:
Observation is very important. Maybe in the corridor of IIM (A) during placement or the Pragati Maidan IT Fair, ideas come to those who are keen observer.
Bootstrap financing is important to bring seriousness to your idea and also provides confidence to other partners.
Persistence is also important especially during tough time. His persistency paid during the 2000 recession and IT bust.
Also he is one of the few entrepreneurs who are advocate of think small and conservatism. He was very conservative but cutting costs but not corners. He was also happy doing a small business but competition forced him to become big.
Entrepreneurship is not a money making business, do not get into entrepreneurship with sole objective of making money. Money is a by product and it will follow.
Entrepreneurship is beyond money, it is for those who want to be the master of their own priority and they want to create something that will last forever.
Be prepared to struggle financially whenever you get into your own venture as real ideas are not conceived in office cubical. It is the power of observation that gives birth to any idea.
Also be clear with all your business partners. In case you feel that you are not getting along well it is always better to sit, discuss and arrive at a conclusion rather then stretching it and hoping for the relations to improve.
Ideas always evolve over a period of time and you should be flexible to evolve your idea. Also great ideas are those that are scalable.
Do not take VC funding for the sake of it. Invest some of your personal money in your idea. VCs like ideas which have gone through bootstrap financing. If a VC is ready to fund just based on idea, then it sends 2 signal:
There is a bubble building in process.
You have a proven track record in past.
Usefulness of MBA cannot be measured based on your performance with someone else who has not done MBA, it is always measured by your performance that would have been if you were not MBA with that you have achieved after doing MBA. It brings in focus, helps structure the thought process and open new doors.
Aspects those were impressive:
Observation is very important. Maybe in the corridor of IIM (A) during placement or the Pragati Maidan IT Fair, ideas come to those who are keen observer.
Bootstrap financing is important to bring seriousness to your idea and also provides confidence to other partners.
Persistence is also important especially during tough time. His persistency paid during the 2000 recession and IT bust.
Also he is one of the few entrepreneurs who are advocate of think small and conservatism. He was very conservative but cutting costs but not corners. He was also happy doing a small business but competition forced him to become big.
No comments:
Post a Comment