Basics of Entrepreneurship

ENTREPRENEURS– THE CHANGE MAKERS

SOME FAMOUS NAMES
1. Bill Gates
2. Sabeer Bhatia
3. Azim Premjee
4. Narayan Murti
5. Sunil Bharti
6. Sam Pitroda
7. Lakshmi Mittal
8. Rattan Tata ( Nano Car)
9. Verghese Kurien ( Milkman)
10.Dhirubhai Ambani
11.Karsanbhai Patel (Nirma)
12.Amita Roddick (founder of body shop)
13.Shahnaz Hussain (of herbal beauty)
14.Vandana Luthra (VLCC)
15.C K Ranganathan (Cavin Care)
16. Michael Dell (founder of Dell co.)
17. Ray Kroc ( Mc Donalds)
18. Kishore Biyani (Pantaloons malls, Big Bazar)
19. Jashwantiben Popat (lizzat papad)
20.Dr. Reddy of Apollo hospitals
21. Dr. Ram Das Pai
22. Swami Ram Dev Jee
23. Kiran Mazumdar Shah (Biocon)
24. Brijmohan Lal (Hero Honda)
25. Prof. Muhammed Yunus ( Noble Laureate- Grahmin bank)
26. Capt. G R Gopinath (Air Deccan)
27. K P Singh (DLF)
28. Rohtas Goel (Omaxe Ltd)
29.Ibuka & Marita (Sony)
30. Ram Chandra Sharma & Dr. P K Sethi (Jaipur Foot)
31. Frans Often (Netherlands of Light Emitting Diode Lamp)
32. Subrata Roy (of Sahara group)
33. Adi Godrej ( Chairman Godrej)
34. Kumar Manglam Birla
35. Naresh Goyal (Jet Airways)
36. Rahul Bajaj (Bajaj Auto)
37. Y C Deveshwar (ITC)
38. Vijay Mallaya
39. J.R.D. Tata
40. Lord Swraj Paul (Caparo Group)
41. Lord Karan Billimoria (Cobra Beer)
42. Indra Krishnamurthy Nooyi (CEO-Pepsi Co.)
43. Nandan Nilekani (Co-Chairman of Infosys)
 What Is an Entrepreneur?
Someone who creates and runs a business is called an
entrepreneur.

 When an entrepreneur starts a new business, risk is

involved. Risk is the chance of losing something.
 Because employees work for someone else and
entrepreneurs work for themselves, entrepreneurs risk
more than employees.
 Small firms employ about half of the U.S. private work
force, and they create around 64 percent of all new
jobs.
 One way you can gain a sense of what business is like
is by investigating an internship, or apprenticship.
Entrepreneurship: Owning Your Future, 11th ed. © 2010 Pearson Higher Education, 5
Steve Mariotti Upper Saddle River, NJ 07458. • All Rights Reserved.
 Why Be an Entrepreneur?
The biggest reward of becoming an entrepreneur is the personal
satisfaction that comes from having the freedom to make your own
business decisions and then act on them.

 Making Your Own Rules. When you own a business,

you get to be your own boss.
 Doing Work You Enjoy. Since the majority of most
peoples’ lives is spent working, why not spend that time
doing something you enjoy?
 Creating Greater Wealth. There’s no limit to what an
entrepreneur can make.
 Helping Your Community. Being an entrepreneur lets
you make your community and world a better place.

Entrepreneurship: Owning Your Future, 11th ed. © 2010 Pearson Higher Education, 6
Steve Mariotti Upper Saddle River, NJ 07458. • All Rights Reserved.
 Characteristics of Successful
Entrepreneurs
Self-assessment—evaluating your strengths and weaknesses—
is an important part of becoming an entrepreneur.

 An aptitude is a natural ability to do a particular type of

work or activity well.
 An attitude is a way of viewing or thinking about
something that affects how you feel about it.
Entrepreneurs tend to be people with positive attitudes.

Entrepreneurship: Owning Your Future, 11th ed. © 2010 Pearson Higher Education, 7
Steve Mariotti Upper Saddle River, NJ 07458. • All Rights Reserved.
 Characteristics of Successful
Entrepreneurs
Personal Characterisitics Skills
 Courage A skill is an ability that’s learned
 Creativity through training and practice.
 Curiosity
 Business Skill
 Determination
 Communication Skill
 Discipline
 Computer Skill
 Empathy
 Enthusiasm  Decision-Making and

 Flexibility Problem-Solving Skills

 Honesty  Mathematical Skill
 Patience  Organizational Skill
 Responsibility  People Skills

Entrepreneurship: Owning Your Future, 11th ed. © 2010 Pearson Higher Education, 8
Steve Mariotti Upper Saddle River, NJ 07458. • All Rights Reserved.
 Risks of Being an Entrepreneur
 Potential Business Failure. Being fully responsible
means the success or failure of your business rests on
you.
 Unexpected Obstacles. Problems can happen that
you don’t expect.
 Financial Insecurity. Many new businesses don’t
make much money in the beginning, so you may not
always be able to pay yourself.
 Long Hours and Hard Work. It’s not unusual for
entrepreneurs to work a lot of extra hours to make their
businesses successful. This is especially true during
the initial start-up process.
Entrepreneurship: Owning Your Future, 11th ed. © 2010 Pearson Higher Education, 9
Steve Mariotti Upper Saddle River, NJ 07458. • All Rights Reserved.
 Successful
Entrepreneurs
in India
Entrepreneurs: The Catalysts
….In British India
But We Are The
People With
Power!!!
….And Still Counting!!
AMUL- Anand Milk Union Limited
The Man At The Roots

Dr Verghese Kurien
White Revolution
The Impact on India
The Structure
Village Level
Dairy Co-operative society Milk Collection

District Level Milk Procurement

Milk Union and Processing

State Level Milk & milk product

Milk Federation marketing
Wide Range Of Products
Amul in Various Tastes
Jain Irrigation
Merchandises
Bringing Technology to Agriculture
 Achievements
... Just as it was exciting to begin to know your incredible
country, it was a privilege to learn from you, Sir, something of
one of its most important enterprises...

- Christopher Forbes, Vice Chairman, Forbes Magazine,

New York.22.02.95
Lijjat
(by Shri Mahila Griha Udyog)
The Pioneers of Women
Empowerment
Brands….
(Can’t forget the taste!!)
The Principles..
 Concept of Devotion
 Concept of Family
 Concept of Business
Dream Comes True
Tata Group
 v

Foundation

Consolidation

Expansion
Men of Honour

Jamsetji Tata

JRD Tata Ratan Tata

Subsidiaries Galore!!
Contribution to Independent India
 Increasing Your Potential
Increase your business and entrepreneurial potential by
focusing on six specific areas.

 Business Knowledge. Reading magazine and newspaper

articles, search the Internet, and talk to business owners.
 Financial Skills. Strengthen your math skills.
 Career Exploration. Evaluate your strengths and weaknesses,
explore careers interest you.
 Community Awareness. Look for volunteering opportunities and
find out if any companies in your area provide internship
programs.
 Education. Obtaining a good education benefits you personally
and open doors to more career opportunities.
 Relationships. Spend time with people who believe in you and
inspire you.
Entrepreneurship: Owning Your Future, 11th ed. © 2010 Pearson Higher Education, 36
Steve Mariotti Upper Saddle River, NJ 07458. • All Rights Reserved.
 Why Study Entrepreneurship?
There are two primary reasons why studying entrepreneurship
makes sense: you learn to think like an entrepreneur and you
develop a vision for your life.

Entrepreneurship: Owning Your Future, 11th ed. © 2010 Pearson Higher Education, 37
Steve Mariotti Upper Saddle River, NJ 07458. • All Rights Reserved.
 DIFFERENCE BETWEEN ENTREPRENEURSHIP AND
INNOVATIVE ENTEREPRENEURSHIP
(i) Starting garment business is an example of
entrepreneurship while starting designer garment
business is an example of innovative entrepreneurship.

(ii)Whosoever designed wooden wheel carts driven by

bullocks was an entrepreneur but whosoever improved
carts with rubber tyre wheels and gears was an innovative
entrepreneur. Similarly man driven rickshaw & motor
driven rickshaw are examples of entrepreneurship &
innovative entrepreneurship
(iii) Manual stabilizer (entrepreneurship)
Automatic stabilizer (innovative entrepreneurship)
(iv) Manual washing machine (entrepreneurship)
Automatic (Fuzzy Control) washing machine
(innovative entrepreneurship)

(v) Desert coolers was an entrepreneurship example

AC is innovative entrepreneurship- Remote
controlled acs.

(vi) Manual water taps and then sensor water taps &
many such examples.

(vii) Nano car (Tata) and Nano Fridge (Godrej) are

examples of innovative entrepreneurship.
Swatch
 HELP FOR INNOVATORS

Honey Bee network, India which identifies individual

innovators, provides them financial and technical assistance,
helps them file for patents and devises models for self-
sustenance – has so far mobilized over 75,000 innovations
and traditional knowledge practices from over 500 districts.
National Entrepreneurship Network (NEN) of the Hyderabad
based Wadhwani Foundation (website: www.nenonline.org)
It offers platform for budding entrepreneurs.
TiE (The Indus Entrepreneurs)-industry chambers promotes
entrepreneurship.
 TYPES OF ENTREPRENEURS

A- Techno Entrepreneurs: Manufacturing Business

Entrepreneurs
Business Entrepreneurs: Retail Business, Service
Business
Social Entrepreneurs (Noble-laureate Mohammed yunus)
Educational Entrepreneurs (Dr. Ram Das Pai)

B- Small Business Entrepreneurs

Big Business Entrepreneurs

C- 1st Generation Entrepreneurs

2nd Generation Entrepreneurs (Family Business
Entrepreneurs)
Age, Qualifications, Experience, Gender do not matter
in the making of an Entrepreneur.
SOME INNOVATIVE ENTERPRISES

Dabbawallas
Sachet selling
Designer clothes
Voltage stabilizers
Software solutions
Coaching academies
Multi-speciality hospitals
Call centres, bill collection centres
Security services centres
Services Centres
 SOME AREAS FOR ENTREPRENEURSHIP
Health care
Environment conservation
Environment friendly buildings
Rain harvesting
Skyscraper farming
Water conserving toilet systems
E-wastes disposal
Garbage disposal
Waste water reuse
Energy Efficient devices
Cheap laptops (example: HCL’s laptops weighing less than a kg and costing
less than Rs. 15000), Netbooks, Smartbooks
Areas relating to clean technologies, green technologies, waste management
and waste recycle technologies, Non conventional Energy technologies,
Service technologies, Manufacturing technologies, New technologies such as
Bio technologies, and Nano technologies, offer wide area for enterprenurers.
Samsung Nano Silver washing machine rinses cloths in a bath of water &
silver ions. TheSilver ions kill nasty germs.
The Tata swatch is a cheap portable water filter that uses a grid of very tiny
silver partical to shift dangerous bacteria out of drinking water.
Some young entrepreneurs
(Ref India To-day, Aspire March 2009)

1. Sarath Babu 28, BITS Pilani & IIM-A Graduate, Founder:

Food king (Catering Service)
Seed Capital Rs 2000
Current turnover Rs 7 crore (Food King)

2. Vivek Pahwa age 27, MBA (ISB-H)

Founder & CEO of Accentium web (first website-
desimartini.com, secondshaadi.com, new website in
education, personal financing and content aggregation)
Seed Capital Rs 4.5 crore
Growing at 100% year on year. (Web-Portals provider)
3. Atul Khekade 26, Computer Science & IT
graduate
Founder: Airnetz, a commercial flight pool services
Seed Capital Rs 5 lakhs
Current turnover Rs 5 crore. (Service-Provider)

4. Saloni Malhotra Age23, Engineer

Founder : Desi crew, rural BPO that trains talent in
villages of small towns, incubated at IIT-M
Current turnover Rs 1.5 crore (Trainer)
5. Amit Agarwal 28, management graduate
Co-founder, Star Agri warehousing & collateral management
that provides end to end logistics solutions to farmers.
Seed Capital Rs. 5 lakhs
turn-over Rs 3.86 crore

6. Kaushlendra 28, Agricultural engineer & MBA from IIM-A

Founder kaushalya Foundation that aims to make Bihar the
vegetable hub of the nation.
Started w/o any initial investment, Current turnover Rs 2.5
crore

7. Rajat Sethi 23,B.tech IIT-K

Answer to low carbon requirements.
8. Arvind Lamba 24, B.Tech from IIT-Allahabad, IIM-A Graduate
Founder: Mantis Technologies which is an online ticketing & business
management platform for bus operators & travel agents- making travel easy.
Seed capital Rs 40 lakh
Current turnover Rs 1.5 crore (Services Provider)

9. Nelvin Joseph ,23

CEO-Avtin Dynamics Product Spara which reduces power losses
Seed Capital Rs 10lakh

10. Deepak Kalhan ,28, Computer graduate

Digitalising Market Places
Seed Money Rs 10,000
Expected turn-over Rs 1.5 lakh
11. Anand Chhatpar 27, Grad Univ. of Wisconsan Madison
CEO, Brain Reactions that uses creative college students to brainstorm new
products & services for Fortune 1000 Companies.
 SUCCESS FACTORS
A- Ability to identify ideas, opportunities & sources
B- Build ;capabilities & teams
C- Confidence, (face) Challenges and Competitions
D- Determination, Decision (making)
E- Enthusiasm
F- (clear) Focus
G- Goal
H- Humility
I- Initiative
J- Judgment
K- Knowledge
L- Learn (from others’, from mistakes); leadership (qualities)
M- Management & Mobilizing of financial & resources
N- No (to die)
O- Open to suggestions, Observation
P- Patience, Passion and Perseverance
Q- Quality (in what ever he does)
R-Risk taking, (nurturing) relationships
S- Stead fast and self control
T- Trustworthiness and team work
U- Upright, Understanding (of Business, of the prospective Customers)
V- Vision
W- Work hard
X- (E) xecution
Y- Youthful energy & enthusiasm
Z- Zeal (Can do)
 FINAL THOUGHT
Entrepreneurs are not super-humans. What is different is
their approach towards things, their vision, their inclination
towards treating challenges in a more creative and positive
way, and their determination to achieve their vision against
all odds. Change is the essence of creativity, and these two
are inseparable qualities possessed by every successful
entrepreneur. Entrepreneurs transform their ideas into
businesses. They have persistence and loads of
determination to succeed in them. They always believe in
making their mark in their own way.

The best way to conclude is with the lines of Calvin Coolidge:

“Nothing in the world can take the place of persistence.
Talent will not; nothing is more common than unsuccessful
men with talent. Genius will not; unrewarded genius is almost
a proverb. Education alone will not; the world is full of
educated derelicts. Persistence and determination alone are
omnipotent.”
…..And Finally!!

Life has no
limitations, except the
ones you make…..