What should entrepreneurs do to make a mark?

(contd.)

I want to suggest here that I fully understand that this incident cannot be generalized and I certainly do not want to bring any negative hopes into any individual here- that would negate the very purpose of me posting this story here.

I only want to convey that there would be 1000 times more potential unleashed if the young-at-heart are nurtured and let to grow in their own natural pace.

India houses one of the oldest cultures of Humanity and yet is a young country with more than half of its billion-plus population below the age of 25, a section referred to as its demographic dividend! Its entrepreneurs need to be supported; its youth cherished!

Finally, the entrepreneur’s spirit in me would never think negatively and will always dare to tread that path which others dare tread not. But, as a person with some power to help the budding entrepreneurs, I will always repent that I could have helped 10 more, thanks to the helplessness forced by the prevalent systems- the political, the educational, the social, the inter-social….

Thank you all for the time you’ve spent in reading this and for all the wonderful comments!

Cheers, Anantha Shayana. D, RAYSITI

Hi Vincent! Great you joined. The honor is mine. And Oops! I did say that! Thanks for pointing out and bringing it back to the hot seat. Well, I totally agree with your view that negative approach begets negativity! But there are many such instances where the full potential of the entrepreneurs, along with their hope, money and time is being put to test. Yes it's not easy for sure. But for some, it's impossible!

Not trying to make any point, let me share with you all a small incident that happened to one of my close friends:  

(Names changed, personal opinion. No resemblance to either living or dead!)

An oil refinery project with 50 Million metric ton production capacity, needed 50 Billion USD funding in 3 phases (I quote the number to hint the gravity of the situation). The project was set up in a "Desert" in the XCountry with an intention to provide employment to more than 1Cr people indirectly who belonged to the most downtrodden sections of the XCountry and such huge funding coming into the XCountry was a boon! This project would bring precious water into the desert- to such places which have no access to water for hundreds of years! My good friend, an entrepreneur, without any sound back-up or "networks" spent all his knowledge as an engineer and a visionary to bring the project to light. He'd spent a quality time of 7 years to see the ray of hope! A WESTERN company agreed to fund him after his 7 long years of penance. It was a relief to him, to me and all his concerned kin. I was proud that a man from one of the remote places of the world was now becoming a name equivalent to, may be, Zuckerberg (?)! The highest authority of the XCountry’s govt. in this connection was supposed to just give a thumbs-up to the project and say “Yes” to such a huge FDI investment that was coming into the XCountry! All the international and national regulatory bodies had given their approval for transfer of funds. Moreover, the technology was based on "Third and Fourth Gen Oil Refinery". This technology, if implemented, would reduce the carbon emission in the fuels by 25-30%. And the project was done with a service motto! Getting the project from the dark corners of a thinker's room to the highest seat of the XCountry’s polity was a task only a passionate entrepreneur could achieve! The WESTERN company came down to have a word with the govt. of the XCountry to release the funds! But…

The concerned authorities of THE XCOUNTRY didn't find an hour's time to meet the delegates of the WESTERN COUNTRY to discuss about the project for 3 long months. The WESTERN firm was made to wait, without any adequate reason given for the wait, for 90 days. And later, it is told that someone demanded 30% bribery. Now, all of us here know that bribery is a "common" thing when such deals involving a huge amount are involved. But what of the entrepreneur who out his very soul n heart n sweat n blood n bread n breath n kith n kin into the project? The WESTERN company left the XCountry with detests.

My good friend was left a living dead after subtle extracts of his business plan were stolen by other competitors and his project being “benched” forever!

He even failed to commit suicide, thrice.

Bribery (just one of the very prevalent and common evil) and the so called system ruined the life of an entrepreneur! It took me and the rest of our friends 3 years to bring him back to normalcy from the loss he’d suffered which I or any of us can only comprehend! (Contd.)

Anantha, with much respect, I have to disagree. There are MANY formal and informal courses for learning entrepreneurial skills, there are also many opportunities for any entrepreneur to find resources for projects and support. YES, even in India!

A negative attitude begets a negative result.... A true entrepreneur does not focus only on what is "wrong with the system" or how many things can go wrong...He/she seeks SOLUTIONS and finds answers to the problems. That is the ESSENCE of the entrepreneurial spirit... If it was so easy, certainly anyone could do it!..but it's NOT easy and thus, only a few succeed!

Though patience is a virtue, I would highly recommend any entrepreneur also "make a few bucks" right from the start.

The sources for funding are varied but in my personal experience one should try as close to home as possible. Speak to family, friends and associates and assess their interest, you might be surprized at the outcome!

Most investor, myself included would like to see some "action" from any new project before a funding decision is made. It shows that the entrepreneur has the skills and drive to make it work.

SHOW INITIAITIVE, DRIVE, ENERGY AND DEVOTION... This to me is the key! Even after many years of experience, I love the new entrepreneur who still has the "guts" to "convince me", not only by mere words, but by action!