How to become a good entrepreneur? - Dr. Subhash Chandra
An entrepreneur can be said to someone who takes the first leap of faith in propelling their idea into reality. They are a unique group of people who come up with ideas that straddle the line between insanity and genius. And realizing these ideas involves a certain amount of risk.
But before one takes the plunge into their venture, there will be a million plus one questions such as: Am I cut out to become an entrepreneur? Should I have a backup plan for my business? Should I run my start-up business parallelly with my current job? Should I invest my savings or go for angel funding for my start-up?
"An entrepreneur is someone who sees no boundaries and entrepreneurship is not about boundaries" said Chairman of Essel Group & ZEE, Dr Subhash Chandra answered these questions in a lively interaction with the students of a premier management institute on the aspects of entrepreneurship on the 'Dr Subhash Chandra Show' - an initiative that looks to give back to the society.
A self-made man, and a true visionary, Dr Chandra has consistently demonstrated his ability to identify new businesses and lead them on the path of success.
We dream of becoming entrepreneurs but are firmly tethered to our cozy jobs and try to run our business simultaneously. We only quit our job, when the business has had a successful run. Dr Chandra advised against this, calling it a defeatist attitude and recommended to focus on one thing at a time- either the job in hand or the start-up business.
Further he shared some key experiences from the beginning of his entrepreneurial journey. He reminisced how challenging it was for him to tread on his entrepreneurial path when the industrial environment was tough and unfavorable. But, Dr Chandra took this challenge as a window of opportunity to propel his venture to the next level.
An entrepreneur’s weakness is to expect more from themselves than others' in his team, noted Dr Chandra. This can be a pitfall since running a business is not a one man show. It is essential to understand the team's talent, trust them with a given set of responsibilities and delegate tasks.
Led by this entrepreneurial mind-set, ZEE believes in finding an opportunity in any problem. It is indeed remarkable that in FY 13-14 though the entertainment industry recorded an INR 7000 crore loss, ZEE clocked INR 1200 crore profit. Aiming to reach a billion viewers by the year 2020, ZEE is all set to join the 100 of the global league.
In summary, Dr Chandra advised taking the first step, always believing in oneself, coping with failures and never giving up; as the key mantras to become a good entrepreneur.
This and more such inspirational knowledge sharing sessions by Dr Subhash Chandra show are aired on Zee Business at 7 pm and on Zee News at 10 pm every Saturday.