Entrepreneurs

Dear Reader ,  I am writing blogs only when I feel something
happening in our society which I need to express with you & share my thoughts.

Today, I would like to share information about entrepreneurs V/s Employee since we all are know the most of the people are trying to start their own business after working several years in the employer firm due to lack of career and financial growth.

We don’t want to go inside of individual story since everyone is having a different story and everybody is correct as per his/her aspect. We only try to share you the tips and provide you the help through our thoughts on the current topic (Entrepreneurs V/s Employee)

Examination is required preparation, therefore you should prepare yourself spiritually about entrepreneurship and start thinking the way to entrepreneur not employee.

But different circumstances and situations require different mindsets, something that anyone looking to leave paid employment and strike out on their own, must be aware of. Unfortunately, not all would-be entrepreneurs understand the dramatic mindset shifts required, without which business success is unlikely.

There are some skills I am sharing of Mr. Maite Baron (Multi-Award Winning Author). I was very excited to post this blog to my audience when I read this post since each and every words are MILESTONE for entrepreneurs and especially to whom who want to start their own business.We have shared story of few entrepreneurs who become very successful businessman from ZERO in the last of this page.

What is entrepreneurs? 

Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs.

9 'Mindsets' You Need to Switch from Employee to Entrepreneur

1.     You’re responsible for all decisions - good and bad. Entrepreneurs have an incredible opportunity to create something from nothing, in a way that’s not possible working for someone else. But this means making big decisions about what must be done, when and how. You can’t wait for things to happen, or for someone to tell you what to do, you must make them happen. Successful entrepreneurs also understand that opportunities may be short-lived, and so develop a sense of urgency that helps them achieve their goals.

2.      You need to hold both short and long-term visions simultaneously. Work for others and you are mainly responsible for ensuring that what needs to be done now, is done. As an entrepreneur, you have to project your mind forward, thinking about the potential pitfalls and opportunities that lie around the corner, and making decisions based on uncertainty. This requires you to come to terms with the fact that what you do, or don't do, today, will have an impact on your business three months, even five years down the line.

3.      Feeling uncomfortable is your new ‘comfort zone.’ As an employee, you’re used to thinking ‘inside the box’ rather than outside it. As an entrepreneur, there is no box. You see what others don’t, test new ideas, seize new territory, take risks. This requires courage, a thick skin and the ability to keep going despite rejection and skepticism.

4.      Learning is a continuous journey. As an employee, you have a job description, requiring a specific skill-set. Being an entrepreneur involves learning many new skills, unless you have the funds to outsource what you're not good at or don't want to do. That could be learning to set up a spreadsheet, getting investors on board, marketing your ideas, crafting your perfect pitch, or using unfamiliar technology. What needs to be done, has to be done - there is no room for excuses.

5.      Numbers don’t lie. Where numbers are concerned, it’s enough for most employees to know what’s coming in and what’s going out. As an entrepreneur, you’d better learn to love numbers fast, because your cash flow is what will keep you in – or out of – business. Ultimately, it’s your sales, costs, profit and loss that will either give you sleepless nights or an enviable lifestyle. But without the guiding light of numbers, your business will be continually heading for the rocks.

6.      Love your business, but be objective. As an employee, you can go on doing something you dislike just for the salary. As an entrepreneur, you will need to love your business because of the effort and long hours required. But you mustn’t fall into the trap of thinking and acting like an employee in your own company, working ‘in’ rather than ‘on’ the business, a ‘technician’ rather than the person who steers it forward.

7.      Enjoy breaking rules. As an employee, breaking the rules could mean dismissal. Entrepreneurs on the other hand, aren’t interested in the status quo – they’re always looking for ways to do things differently. That means acquiring a global perspective, always peering over the horizon, or at least towards it, to where the next big thing is waiting.

8.      Time isn’t linear. As an employee, you have a timetable to work to. As an entrepreneur, while you might not be tied to a desk or computer 24/7, you will always be thinking about your business, what it’s doing well and what it could be doing better. There will be no respite – you will live and breathe it.

9.      Start now. Most people under-estimate the time it takes to make the transition to entrepreneur, so it’s sensible to start shifting your mindset while you’re still employed, perhaps even setting up a business to run alongside. This could give you the opportunity to develop skills and build experience while still enjoying the safety-net of a salary, something that at some point you will almost certainly need to give up if you want to grow your business.

Indian entrepreneur who started with nothing

Patricia Narayan (Winner of this year’s ‘FICCI Woman Entrepreneur of the Year’ award is amazing. ) She started her career 30 years ago as an entrepreneur, selling eateries from a mobile cart on the Marina beach amidst all odds — battling a failed marriage, coping with her husband, a multiple addict, and taking care of two kids.Today, she has overcome the hurdles and owns a chain of restaurants.

” I started my business with just two people. Now, there are 200 people working for me in my restaurants. My lifestyle has changed too. From travelling in a cycle rickshaw, I moved to auto rickshaws and now I have my own car. From 50 paise a day, my revenue has gone up to Rs 2 lakh a day.

The ‘Ficci entrepreneur of the year’ award is the culmination of all the hard work I have put in over the last 30 years. It came as a surprise as this is the first time I have received an award.

Till now, I had no time to think of what I was doing. But the award made me look back and relive the days that passed by. Now, my ambition is to build my Sandeepha brand.”

Advice to young entrepreneurs
Do not ever compromise on quality. Never lose your self-confidence. Believe in yourself and the product you are making. Third, always stick to what you know. When you employ people, you should know what you ask them to do.

Karsanbhai Patel The ‘Nirma’ success story of how an Indian Entrepreneur took on the big MNCs and rewrote the rules of business :

It was in 1969 that Dr. Karsanbhai Patel started Nirma and went on to create a whole new segment in the Indian domestic detergent market. During that time the domestic detergent market only had the premium segment and there were very few companies , mainly the MNCs, which were into this business.

Karsanbhai Patel used to make detergent powder in the backyard of his house in Ahmedabad and then carry out door to door selling of his hand made product. He gave a money back guarantee with every pack that was sold. Karsanbhai Patel managed to offer his detergent powder for Rs. 3 per kg when the cheapest detergent at that time was Rs.13 per kg and so he was able to successfully target the middle and lower middle income segment.

Sabki Pasand Nirma!

Nirma became a huge success and all this was a result of Karsanbhai Patel’s entrepreneurial skills.

The best case of – Give your consumer what he wants, when he wants, where he wants and at the price he wants, selling will be done quite automatically. This is the marketing ‘mantra’ of Nirma.

The company that was started in 1969 with just one man who used to deliver his product from one house to the other,today employs around 14 thousand people and has a turnover of more than $ 500 million. In 2004 Nirma’s annual sales were as high as 800000 tonnes.According to Forbes in 2005 Karsanbhai Patel’s net worth was $640 million and it’s going to touch the $1000 million mark soon.

Prem Ganapathy (The Dosawala) Prem Ganapathy, was stranded at the bandra station,when the person accompanying him left him and ran away. Prem had no local acquaintances or knowledge of the language. Out of pity, a fellow Tamilian guided him to a temple and appealed worshipers to contribute money for his return ticket to Chennai.

Prem refused to go back and decided to work in Mumbai and started cleaning utensils in a restaurant. He appealed to his owner, to let him become a waiter as he was class 10 pass. The owner refused, because of regional politics and Prem bided his time till a neighbor hood dosa restaurant opened and offered him a job from a dishwasher to a tea boy.

Prem became a huge hit with the customers because of his excellent customer service, initiatives and relationship and brought business Rs. 1000 daily which was almost 3 times as compared to other tea boys. The life was good.

A customer made him an offer. He was planning to open a tea shop in Vashi in Mumbai. He wanted Prem to be his 50 – 50 partner where the owner would invest the money while Prem would run the shop. The shop started doing brisk business when the owner became greedy. It hurt him to share 50 % of the profit with Prem and he threw Prem out replacing him with an employee.

Prem was made of a different material and he was never going to be defeated. He took a small loan from his uncle and with his brother, opened his own tea stall. Unfortunately the neighbourhood residents objected. He then started a hand cart but that also did not work out. He found a spot and set up a south Indian stall. He did not know a thing about dosas and idli but learnt by observation, trial and error. The dosa stall was a huge hit and flourished during the 5 years from 1992-1997. But why was the tiny dosa stall was was so successful in spite of competition from ubiquitous eateries prevalent in Mumbai. According to Prem it was its hygiene, proper appearances of the waiters and fresh ingredients which stood out as a difference.

He saved a couple of lakhs of Rupees and instead of heading home he took the biggest risk of his life and opened a new shop near Vashi station and named it as Dosa Plaza. His Chinese plaza next to the Dosa Plaza flopped miserably and was shut down in 3 months. Undaunted, Prem realized some lessons from it. He applied those lessons in making Chinese cuisine in his dosas which worked very well.

He got passionate and invented a variety of dosas with Chinese style like American Chopsuey, Schezwan Dosa, Paneer chilly, Spring roll dosa etc. The 108 types of Dosas in his menu gets him a lot of publicity.

A chance encounter with a customer who was part of the team setting up a food court in a mall in New Bombay advised him to take a stall at the food court and again Prem was ready and willing to grow and expand. His vision was to grow by better offerings and better customer service. He also went to ad agencies to create the brand identity including the logo, brands, menu card, waiters dress etc.

He started getting a lot of offers for franchising and had to find out the meaning of franchising and its modus operandi. Dosa Plaza currently has 26 outlets and 5 of them are company owned. It has 150 employees and a turnover of 5 crore. All the branches are connected and networked and there are training managers and proper manuals to maintain standard and uniform product and services.

Ramesh Babu The barber who owns a Rolls RoyceRamesh Babu, the barber who became a millionaire, did exactly this when he was shaping his dazzling destiny. Stories of personal perseverance, the ones where heroes overcome severe obstacles and achieve dizzying heights of success, have been around since the beginning of time but they never get old. They inspire us and inflame our passions, making us believe we too can follow suit.

Ramesh Babu bought a Maruti Van with his meagre savings in 1994. By 2004, he had a fledgling car rental business with seven regular cars. In 2014 he has a fleet of 200 cars. What is even more extraordinary is the 75 luxury cars on the fleet- a range of Mercedes, BMW’s, Audi’s, five and ten seater luxury vans and, his ultimate pride, a Rolls Royce.Building a successful business:From 1994 onward I seriously got into the car rental business. The first company I rented it out to was Intel because that’s where Nandini akka was working and she helped arrange it. Gradually, I started adding more cars to the fleet. Till 2004, I only had about five to six cars. I was focused on getting the saloon business off the ground, so this was not my priority. The business was not doing well as the competition at this level was intense. Everyone had small cars. I thought of getting into luxury cars because that is something that no one else was doing.

On Taking Risks: When I was buying my first luxury car, in 2004, everyone told me that I was making a big mistake. Forty lakhs in 2004 for a car, even a luxury car, was a very big deal. I was extremely apprehensive, but simply had to take the chance. I told myself that I would sell off the car if worse came to worst. Fortunately for me, the risk paid off remarkably. No other car rental service had luxury cars of this stature. There were ones who had purchased second hand models and the conditions of those cars were far from pristine. I was the first person in Bangalore to invest in a brand new luxury car and it did very well.

Naina Lal Kidwai She is presently the Group General Manager and Country Head of HSBC India.

Naina has a Bachelor’s degree in Economics from Delhi university and an MBA from Harvard Business school. In fact, Kidwai was the first Indian woman to graduate from Harvard Business School.

She started her career with ANZ Grindlays . Presently, she is also serving as a non-executive director on the board of Nestle SA. Kidwai is also global advisor at Harvard Business school.Indian government conferred Padma Shri award on Naina for her contributions in the field of Trade and Industry.

Note - There is no moral of the story we just wish you all the very best for your future endeavors.