50 tips for budding entrepreneurs

What drives the greatest minds in business and academia? How did a penniless man become an overnight millionaire? Who helped a girl with no business degree set up a world class NGO? Sonali Acharjee collects insights from 50 different people who have managed to channel their visions into successful ventures.No.1"Be focused and rooted in your studies," G Viswanathan, Director, VIT University.No.2"Be yourself. Don't waste time trying to be like anyone else," Ekta Kapoor, CEO, Balaji Telefilms.No.3"Don't give up on your first shot. Be resilient when starting out," Deep Kalra, Founder, Makemytrip.No.4"Spend time meeting new people and exchanging ideas," Shikhar Ghosh, Senior Lecturer, Harvard.No.5"Learn from both success and mistakes," Lord Karan Bilimoria, Founder, Cobra Partnerships.No.6"Dream big and then believe in that dream," S. Barua, Director, IIM-Ahmedabad.No.7Run global think localThere are so many business schools to choose from today. But an MBA does not guarantee instant success. Students need to realise that there are other factors that govern success such as market research, foresight and hard work. When we were planning the curriculum for Indian Business School (ISB) we realised the immense need for global exposure and interaction. An eclectic and diverse student community not only makes lectures more fun but peer-to-peer learning is significantly enhanced as well. "I feel that students must make the most of such exposure. One should try to take part in student exchange programmes, visit new places and learn from different cultures. We are lucky to live in a world where we are no longer limited by geographical barriers - make the most of it and run the global race. But dont lose sight of your target audience. Learning to liase and network with different types of people has many benefits in the long run. Meetings and conferences pool together people from around the world and those who are already familiar with global platforms will find it much easier to make an impact," says Deepak Chandra, Deputy Dean of ISB, Hyderabad.No.8"The world is flat today and leaders can come from any part of the globe. I think those who demonstrate true passion will always suceed," Srikantan Moorthy, Vice President, Infosys.No.9"Don't be rash or overly critical in your work," Dr. Nehruzii, Chairman, Gems Business School.No.10"Life is short, so live your own dream," Sanjeev Bikhchandani, Founder & Vice Chairman, Nauri.com.No.11"Money should be an end goal but not your sole motivation," Sanjay Modi, MD, Monster India.No.12"Have faith that you are destined for greatness," Valson Thampu, Principal, St. Stephens College, Delhi.No.13Try everything onceBusiness management is a multi-disciplinary profession. One needs to know everything from finance to crisis management to social responsibility. For someone looking to start out in the industry it is important to not be close-minded when it comes to learning. Absorb and understand as much as you can because sooner or later it will come to use when you are running your own business."A good way of gaining additional exposure at business school is to engage with student clubs and activities. Take part in hobby groups such as photography, movies, debates and music as well as professional clubs such as marketing, HR and finance. These clubs usually arrange seminars and workshops with working professionals and ultimately become a great tool for extra practical exposure in college. Keep your options open. Great leaders are those who are aware of more than just their own field of responsibilities. Be self motivated and learn as much as you can in your early years," says Raj S. Dhankar, Dean, Faculty of Management Studies, Delhi.No.14"Don't let anyone intimidate you. We are as strong as we believe ourselves to be. Believe in yourself, and the power of dreams," Dr. Meenakshi Gopinath, Principal, Lady Shri Ram College.No.15"Unleash your creativity and exhaust as many ideas as you can," Pramod Bhasin, Founder, Genpact.No.16"Be aware of all the risks involved with building a business of your own," Rajiv Burman, HR Head, Microsoft.No.17"Commitment to the task at hand is important. Avoid taking shortcuts," Sunitha Krishnan, founder, Prajwala.No.18"Make well-informed choices. It pays off in the long run," Tarun Ramadorai, Professor, SAID Business School.No.19"Eat healthy and think healthy, especially when you are under a lot of stress," Dr. Vandana Shiva, founder, Navdanya.No.20"College should be spent absorbing and learning a thousand new lessons," Mukul Madahar, MBA Welfare Director, Cardiff University.No.21"Instinct and logic is a deadly combination and can do wonders," Praveen Puri, Director, Skyline Business School, Delhi.No.22"Learn to relax. Take a break, go on a holiday and just breathe once in a while," Vir Das, Comedian and Bollywood Actor.No.23Sporty, healthy and wise"I have been an extrovert who places a significant amount of focus in co-curricular and extracurricular activities. I believe that sport teaches you many lessons in life - how to remain humble in victory and cheerful in defeat. I have attempted to ingrain these lessons in my life.As a student in Delhi, till the age of 15, I suffered from bronchitis. During this time I took up many outdoor sports and read a lot of books. This gave me tremendous strength and knowledge to treasure life's moments. As a professional entrepreneur, I feel that sincerity, hardwork and dedication, with a long term vision, and strong interpersonal and execution skills are the key to success. Prioritizing goals early in life also goes a long way," says Dr. Rana Kapoor, Managing Director & CEO, YES BANK.No.24"Respect diversity of opinion and thought. Sensitivity is a virtue," Malabika Sarkar, Vice Chancellor, Presidency College.No.25"Reading builds character. Books make a good friend," Suneel Galgotia, Chancellor, Galgotias University.No.26"Take all advice with a pinch of salt," Prashant Bhalla, Chairman, Manav Rachna College of Engineering.No.27"Work on projects you are truly interested in," Bhushan Lal Karihaloo, Alumni, IIT-Bombay.No.28 "Relax with music," Dinesh Singh, Vice Chancellor, DU.No.29"Research well before you decide on a course of action," M. S. Rao, Professor, S. P. Jain Institute of Management.No.30"Plan your business with foresight," S. Sriram, Executive Director, Great Lakes Institute.No.31"Everyday has something new to offer. Aim for improvement on a daily basis," V S S Mani, Founder, Just Dial.No.32"Dreams are not about strategy but innovation," Shekhar Kapur, Member, National Innovation Council.No.33"It's good to be flexible in opinion and plans," Arun Mohan Sherry, Chairman, Admissions Commitee, IMT.No.34"Learning can be customised according to ones requirements," Pavan Chauhan, MD, Meritnation.No.35"Be humble and don't let fame overwhelm you," Yaj Medury, Chancellor, Jaypee B-School.No.36"Prioritise goals before planning your career graph," Rajeev Shorey, President, NIIT University.No.37"There is an opportunity to be found in every adversity," Maneesh Kumar, Lecturer, Cardiff Business School.No.38"Keep an eye on the changing industry and economic scenario," Mukul P Gupta, Director, MDI.No.39"Don't be one-sided. Experience all you can from life," Dr. Ashok Saxena, Vice Chancellor, Galgotias University.No.40"Finding a healthy work-life balance is important. Don't neglect either," Laxmi Narayan, Chancellor, Bharath University.No.41"If you fail once, keep on trying till you get it right," Shreevats Jaipuria, Director, Jaipuria Institute.No.42"There is no substitute for hard work," Panjaj Aggarwal, Chancellor, Shri Ramswaroop Memorial University.No.43"Business comes with its share of risks and joys. Learn to appreciate both," Dr. Rajan Saxena, Director, NMIMS.No.44"Support is easy to gather if you are looking for it in the right places," Poonam Sharma, Group Director, Accurate Institute.No.45"Try not to worry. Things will work out in their own time," Arnab Roy, Director, NSHM, Kolkata.No.46"Keep in touch with old friends. You never know when you might need them," Sunil Karad, Director, MIT Pune.No.47"Fight for your right to dream and innovate. Life is what you make of it in the end," Prem Kumar Gera, Director, NIFT.No.48"Do the things you love," Priyanandan Reddy, Chief Operating Officer, Acharya Institute of Management Sciences.No.49"Be good to your co-workers," Vijay Bhaskar Dinnepu, CEO, Vinifet Technologies, Bangalore.No.50"Good times and bad times both teach you important lessons," Sudhir Kumar Sopory, Vice Chancellor, JNU.Published By: AtMigration Published On: Oct 31, 2012 00:00 IST--- ENDS ---

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50 tips for budding entrepreneurs

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