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Ramblings of a citizen and experiences of an entreuprener

This is about my way of life. It has two parts, one is related to the world around me and the other part is my experiences as an entrepreneur. Check out our website www.shaktiindia.com

Monday, November 28, 2011

The reluctant entrepreneur: The Begining





"Mansion of Glass' by KG Gupta of GKB group, a simply written book, but one that captures the essence of entrepreneurship, BLOOD SWEAT TEARS and a sense of achievement, before the next cycle starts. The author traces the trajectory of the company started 50 years ago. At no time will the author who started the company inform you that he has reached his goal. As the 51st year rolls on he sees the next generation striving to attain greater market dominance through better technology and improved quality standards. All this for a product already acknowledged as the world leader.


So what is this animal called  ENTREPRENEURSHIP that so many want to ride, that I decided to mount although reluctantly fifteen years ago. By GOD's grace, hard work, a great team and a market I am still in the saddle.

Market though mentioned last is in no way the least, it is the reason the world needs Entrepreneurs. As I grew up in Mumbai in the 70's my parents knew who my friends were. It was simple, they lived in the same building or the next. We played games together so they had a clear visual. Today parents cannot rely totally on a visual to know who is their kids friend, they could be anywhere in the world, using an internet connection and a software called face book, even playing together has a different connotation, it could be in cyberspace separated by 1000's of miles of physical space.

Markets have developed similarly. Earlier you picked your daily needs from the shops around the TINTO, for your weekly needs you went a little further, the closest town. For Christmas you took a trip to Mumbai if you lived in GOA. Today the concept of market is topsy turvy. Anything is available anywhere. There are multiple choices for everything. It appears there is a market for any product, anytime. In KG Gupta's story he went from selling glass lenses in Agra to plastic lenses all over the world. You will also hear that while he sold lenses others selling similar products fell by the wayside.

This, phenomena where one entrepreneur succeeds in the market and another fails is due to another ferocious and unusual animal called the CUSTOMER. I went twice to business school, once in Pune, Institute of Management Development and Research and the second time after a few years of work experience, Asian Institute of Management, Manila. Therefore as an MBA, I have a bagful of definitions, but it is in the school of hard knocks that the following definition became real. I think it is the best and very simple.....U...yes, a customer is YOU.

Confused. Consider this example. You go to a store to buy a Rs 5/- packet of biscuits. The shop keeper opens a dusty showcase and pulls out a dusty packet of biscuits. He passes it to you. Will you take the packet pay the Rs 5/- and leave happily? Most likely you will ask the shop keeper to check if he has a fresh packet (meaning clean), despite the fact that you will not eat the packaging. If he cannot offer you a fresh or clean pack you will go to another store.

Will you for a minute consider these facts: The shopkeeper needs the sale, he has a family to feed or children to school etc. and therefore buy the soiled packet of biscuits?

No way, you want a clean packet of biscuits despite the fact that the biscuits inside taste the same irrespective of the dust outside (assuming the packet is well within the best before date). You are spending your hard earned money, never mind if it is a measly five bucks, you want a bank for every buck. You have just defined quality as not just the taste of the biscuit but also the cleanliness of the wrapping. Did we hear you ask the shopkeeper for a "CLEAN PACKET OF TASTY BISCUITS"?

If for five bucks you are so finicky can you imagine what you will do as the value of the product you buy increases. Think about it, the customer is no more someone out there locked up in a definition, the customer is YOU. So there we have identified the animal who will make or break a market, YOU.

In my mind the first person an entrepreneur must satisfy is himself. Would he accept the product/service he intends to market?  We will talk more on these lines, send me your feedback. I will respond based on my own experience of building a plastic rotomoulding business from scratch and taking our brand "SHAKTI" from unheard to sounds familiar.....but a long way to go.


(This is the first of the series published in Business Goa)