New Delhi [India], July 28 (ANI/GPRC): Dheeraj Gupta MD Jumboking, Tarun Anand, Chairman Universal Business School and Megha Tata, media veteran came together for a discussion around 'What Not To Do In Entrepreneurship' written by Silicon Valley start-up evangelist Sanjeev Chitre.
Does entrepreneurship always create wealth? Can the risk be mitigated? Can professionals also have an entrepreneurial approach and join the wealth creation journey? With a view to answering these questions, Sanjeev Chitre, Silicon valley's favourite mentor, has written a guidebook titled "What Not To Do in Entrepreneurship'.' To mark the launch of his book, he brought together three of India's finest business leaders for a talk titled 'building an entrepreneurial ecosystem' - Dheeraj Gupta, MD Jumboking Foods, Megha Tata a media veteran and Tarun Anand, educationist and Chairperson of Universal Business School.
Setting the tone, Sanjeev Chitre said, 'entrepreneurship is feared because it is seen as risky. It cannot be a game of gambling. We have to transfer the art of entrepreneurship to the science of creating predictable wealth."
Dheeraj Gupta, an iconic leader in the Indian restaurant industry and MD of Jumboking Foods said," US data reveals that out of the 28 million existing firms, only 4 per cent get to the 1 million plus revenue mark at this stage and 0.4 per cent get to the 10 million mark. There are valleys of death in between where entrepreneurs find it challenging to bootstrap and grow the company to the next level."
Gupta discussed in detail about the different stages of entrepreneurship and how to build a successful thriving business by developing sharp focus and discipline for 10X growth. Chitre suggested that such insights are part of a toolbox using which an entrepreneur can implement in their journey to driving and accelerating commercial success.
Tarun Anand, Founder and Chairman of the top-ranked Universal Business School shared, "It is very important to have curiosity, creativity and problem-solving skills. As an entrepreneur, you need unwavering persistence. Not every idea will succeed but a failed idea will take you to the doorstep of the next idea. We should therefore celebrate failures and build a risk muscle," said Anand.
Anand spoke about his own journey of challenges while building his institution. He also cautioned that the challenge for future students who want to become entrepreneurs is how to build a fast-moving new company at scale, with disciplined, empowered teams and entrepreneurship in its DNA! Anand's emphasis on teams brought the discussion to 'intrapreneurship'. Media and entertainment industry veteran Megha Tata, also President of the IAA India chapter, discussed the role of professionals who have a high degree of ownership and are able to seed business growth and success.
"The first thing an intrapreneur or corporate executive needs to do is identify who their audience is and what is the problem that they are solving for them. In the world of media where I come from, it is about creating content for a certain set of audience. Once you have identified what you want, then you need to start putting in a certain set of metrics together to be able to evaluate what your success metric is."
Tata added that a business plan gives you a framework to start, but that's not necessarily how or where you finish. She emphasized that passion is one of the key elements that drives work.
Navigating the discussion deftly, Chitre summed up that it is the resonance of the product or service offered or developed by the entrepreneurial team with the needs of the market or the customer that creates a 'repeatable transaction and exchange of value' called business.
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