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Entrepreneurship anybody?
Chit-Chat / Your Interests Talk about your interests, ambitions, obsessions. Make friends over common interests - soccer, poetry or rock bands. It's time to lay back and relax, you don't have to make sense.

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guy_next_door83 guy_next_door83 is offline
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12-03-2005, 10:19 PM

Owkay...we ve got the starting blues outta the way...and frankly..am a little overwhelmed ...While on entrepreneurship, i think , of late there is increasingly a breed within a breed, Social Entrepreneurs, Agri-Business Entrepreneurship, New Enterprise Creation, and Family Business management( the last one is a little debatable though).

Rite..Subbu...We sure can do somethin on the lines of starting an e group , so to speak, about wannabe entrepreneurs. But i d most certainly like to give the present thread a sense of direction . (an important entreprenurial trait )

To speak about my experience, well, I ve always known myself as a person who has led two lives. One made up of my dreams, and the other of my efforts in pursuing them. It is in the quest of my dream to serve my country at the highest level, and leveraging the skills that I acquire in becoming a wealth creator .

Subjects like Game Theory, Macro Economics, Finance, have always set my adrenalin flowin..so in a lot of ways , one thing led to another, and to put it in as many words, entreprenurship gave me the chance to give shape to my dreams, to do things that i beleive in...i.

An internship at News Hawk Online Pvt. Ltd, a subsidiary of Real-Time traders, a Wall-Street based news agency, helped me focus on the finer aspects of the stock and the derivatives market, especially NYSE and NASDAQ. Having developed an understanding of the markets, I floated my a self start up in the form of “Gold & Futures”- a franchisee of the multi Commodity exchange of India, concentrating on bullion and agricultural commodities.

The Commodities market, as you mite be aware, is the next best thing doin the rounds...so growth has and wil continue to be exponential. Jus recently HDFC acquired an equity stake in MCX.

Yes, it took a lot of doing to raise the capital, but again i knew the immense potential of the market for my dad was already into retailing jewellery. Now the time is ripe to leverage the commodities market, to synergise the same with other
entry points of the bullion market.

Indeed, the Dubai Metal and Commodities Exchange is comin up...memberships are gonna open sometime soon.

so in a nut shell, its about conceiving an idea, living with it , fine tuning it, and then jus takin it from there.

and jus to get some activity started....lets start by discussing Laxmi Niwas Mittal, Steel baron.

Cheers
God Speed
Yogesh


Its Me. Its You . www.Augustfury.com .Its Time. Its Here.
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12-03-2005, 10:21 PM

Quote:
Originally Posted by Trishanku
hi guys......

talking about taking risks and luck is fine....but y restrict ourselves to discussing onlly the Fortune 500 millionaires??

I think not all 1st generation need be as successful as Sabeer Bhatia and the gang......... there are others who have started SSI , and other small companies who are surely successful.....all of us MBA aspirants have this bias towards the one big supremely successful individual while ignoring the hundred others who do well in their own right. Its good to think big but then the keyword is think ,coz even if the initial result is relatively good tht means we are on the correct road and should continue as very few ppl become great in one shot.

I think entrepreneurship means standing by the idea and taking a certain amount of calculated risk with it...of course luck plays a part ......but then doesnt it play a part in every thing right from our CAT application. As for the MBA softeneing the drive to start something of our own ....well me thinks thats purely personal there are people who have started NGOs after graduating from IIM A.

:grab::grab::grab::grab::grab:

The mantra is CARPE DIEM


dude...if u need any more info abt EDI, pm me...i was a student at their summer camp last year.


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DesiGuru DesiGuru is offline
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Business School Propaganda - 12-03-2005, 10:21 PM

I think its amusing to see entrepreneurship taught at business schools...
After i have just digested the fact that they can turn me into a leader after two years they are now telling me they will teach me to be an entrepreneur.

I think if you have ever been to silicon valley you will reasonably understand why they say its urgency thats everything... Its people not ideas etc... Those who have the balls will never go for the security of first getting an MBA and then starting a business. But that might be more so in the US than here. Indians are roiled in securing their asses first and then trying to jump for the sky... Guess what, we forget with our ass now secured we are most probably not going to reach the sky. If the idea and desire springs during or after the MBA that is a separate issue.

Entrepreneurs i think, can 'see the Matrix' they dont need to have an MBA. In anycase i will remind you guys what the most intelligent man (einstein) thinks of education... "The only thing that stops me from learning is my education'
An MBA just structurises your thought process which is entirely unsuitable for the initial madness of starting a business. By business, i definitely mean an enterprise of reasonable stature with potential to be an IPO or be acquired by a big gun atleast.

Sucessful Entrepreneurs are far more nobler than doctors... because they create jobs for other mere mortals who can then afford a noble doctor. Even honestly attempting it is a noble thing.

Unfortunately the odds are truely stacked... but its got the same odds as clearing the CAT and getting in IIM A. and there is no time pressure....
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12-03-2005, 10:25 PM

Quote:
Originally Posted by lakshya_FPM_IIMA_2005
Hi Yogesh,

Thanks a lot for having started this thread...!! I am really really indebted to you for the same...I have been interested in this idea ever since my final year of college...only to be considered a rebel and a lunatic by people around me..!! Its heartening to know that there are more people like me!! I have been reading Peter Drucker's Entreprenuership and Innovation...an amazing book...try and get hold of it.....it explains the subject in great detail,without becoming too technical..

The sector in which I want to apply the concepts of Entrepreneurship is that of agriculture...and eDII has a course on that...but there is no info abt the nature of the written test...how do I find that out??

I am sure u must have acquired some great insights after having started ur own enterprise...It wud be really educative if u cud share some of them on the forum..





Thanks again man!!
- I
The written test is by and large a filter- its largely restricted to gauging your analytical and grammar skills. Its not as profound as CAT so to speak. But yes, the interview decides your fate. But i do recommend that you attend their summer camp in may this year. You ll get a feel of the place and will be in a better position to decide whether you wanna pursue the PGDEM there....and beleive me , those 15 days at the camp are gonna rock..


Cheers
God Speed
Yogesh


Its Me. Its You . www.Augustfury.com .Its Time. Its Here.
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12-03-2005, 10:29 PM

Desi guru....why this constant comparison of IIMA and Entreprenurship...after all, an entrepreneur dreams of hiring the best chaps out of A some day.....so to that end, i think, to be an entrepreneur, you need a vision, and may i add, the capacity to think big, to understand the macro perspective, and dude, i guess, structured thinking always helps, the ability to rationalise things and understand that one thing leads to another is truly sublime....i guess...thts one of the main reasons IIM A is where it belongs rite now....

Cheers
God Speed
Yogesh


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No comparison - 12-03-2005, 10:46 PM

Quote:
Originally Posted by guy_next_door83
Desi guru....why this constant comparison of IIMA and Entreprenurship...after all, an entrepreneur dreams of hiring the best chaps out of A some day.....so to that end, i think, to be an entrepreneur, you need a vision, and may i add, the capacity to think big, to understand the macro perspective, and dude, i guess, structured thinking always helps, the ability to rationalise things and understand that one thing leads to another is truly sublime....i guess...thts one of the main reasons IIM A is where it belongs rite now....

the entrepreneur doesnt dream about hiring from IIM A he dreams of making his vision a sucess, for this an iim A ( I would prefer IIT) guy may get the highest priority because the entreprenuer can take care of insane aspects of starting a business and an IIM MBA might help in structuring his business for the long term. and being around smart people is absolutely helpful in the wrong run... An IIM A is not more qualified to start a business than a random smart guy, at best he can be equal.

About rationalisation, entrepreneurship is by definition irrational...
An IIM A is better when it comes to hiring a potential CEO than a random smart guy and then thats why you have the mad rush for it...

Cheers
God Speed
Yogesh
Its not a comparison... its just statistically proven in the US atleast that great businesses seem to be coming from the random village idiot type because he simply doesnt see the mathematical risk involved (which is why he goes ahead)
But MBAs seem to be doing fine along with engineers/PhDs as CEOs of established companies....

PS - 'random village idiot' = non MBA, could be even a simple engineering graduate or dropout not exactly from a village...

Last edited by DesiGuru; 14-03-2005 at 12:58 AM. Reason: meaning of random village idiot misunderstood
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13-03-2005, 11:53 PM

Quote:
Originally Posted by DesiGuru
Its not a comparison... its just statistically proven in the US atleast that great businesses seem to be coming from the random village idiot type because he simply doesnt see the mathematical risk involved (which is why he goes ahead)
But MBAs seem to be doing fine along with engineers/PhDs as CEOs of established companies....
Hey ..I think we should get a perspective of things here... let us really research these statistics and find out actually how many village idiots have come up with world class business ideas... I wouldnt hesitate in saying that even if 1 % of the ideas were given by village idiots, then it would mean that America is populated by people of extremely high IQ who are happy projecting themselves as Village Idiots !

entrepreneurship is not just an off the cuff activity,as Yogesh would probably certify.It would require a certain amount of research and study to jump into that field...

Try and read Peter Drucker's Innovation and Entrepreneurship... ur concepts will be cleared..
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14-03-2005, 12:58 AM

Quote:
Originally Posted by lakshya_FPM_IIMA_2005
entrepreneurship is not just an off the cuff activity,as Yogesh would probably certify.It would require a certain amount of research and study to jump into that field...
I am not debating this point. Just putting across my two cents....
History has shown that people with entrepreneurial spirit and the necessary skill/competence required to run business have made it big. They may have done research and study, but these are non quantifiable. One cannot really say so much of study must go into this and that. Even a person with so called "gut feeling" would have whetted the idea for sometime before plunging headlong. Again some sceptics say that the more you do research the more you become aware of the pitfalls and hence become disenchanted with the idea itself.
Thats why we have salesmen like Ray Kroc or schools dropouts like Gates starting up, than hardnosed MBAs who are quick to see the faults.

Quote:
Originally Posted by lakshya_FPM_IIMA_2005
Try and read Peter Drucker's Innovation and Entrepreneurship... ur concepts will be cleared..
I really do not know how a Drucker will help a person in an entrepreneurial mode to clear concepts. He/she may be able to gain some "Global Gyan" but may get entrapped in Models and frameworks which may further curb his/her thought process.

Here, in IIM-A, we have seen many PGPs spurning lucrative offers in favour of starting up on their own. I am fortunate enough to have three dorm seniors, one has started a school, another one has started a packaging firm and the third has ventured into agro exports. They all had the entrepreneurial spirit, which was furthered by the curriculum here such as Lab in Entrepreneurial Motivation and Entrepreneurship and New Venture Planning. Even a few of my friends, in my same batch, have already started chalking out plans for their ventures.

For them the concepts got clearer through interactions with peers, faculty and the predecessors than reading books by any "Mgmt Gurus".


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the bschool entrepreneur - 14-03-2005, 01:15 AM

Sak-Z thats what i thought...

Business school is the last place a true entrepreneur needs to be... But it doesnt mean that being there is a disadvantage. The amount of smart guys that you will be surrounded could influence you in a really positive way in the long run... but the guaranteed high salaries could prevent some guys from making that final jump...

But if i start thinking finance etc... maybe an MBA entrepreneur in the areas of finance is probably more suited than someone directly out of an undergrad school...

IIM A obviously understands the mega importance of entrepreneurs as is expected of them... Great talent and ideas can come from anywhere, IIM/IIT just has a higher probability of germinating them...
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14-03-2005, 01:47 AM

Quote:
Originally Posted by DesiGuru
Sak-Z thats what i thought...

Business school is the last place a true entrepreneur needs to be... But it doesnt mean that being there is a disadvantage. The amount of smart guys that you will be surrounded could influence you in a really positive way in the long run... but the guaranteed high salaries could prevent some guys from making that final jump...
Desi ,
Valid Points.

Cant we make this discussion more lively by ideating on some points. Here are some I could think of right away.
1. Does a proper B School education make an entrepreneur? Again the word 'proper' is subject to debate. Do you believe that the Pygmalion effect can take place on an individual, who dreams of high salaries and a good job when he/she enters a campus and convert him/her to an entrepreneur?
2. Could an MBA education have changed the course of Dhirubhai Ambani or Mittal? BTW LN Mittal seems to have once dreamt of doing MBA and PhD (ref. Yesterday's TOI)
3. Does BSchools curb an individual's creativity and drive, through structured curriculum and rigorous grading systems? Are they not creating managers than innovators?
4. Do the parents play an important role in deciding their children's career choices, especially of those from the 'middle class'?

Pls ponder on these lines and add your own.


-I'm afraid that my carma ran over your dogma...
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