ummm…at the risk of gettin banned from a forum, which is for true blue CAT aspirants ( ofcourse, increasingly " The Lounge and Chit Chat are becomin hot favourites), I ve summed up all the courage to exchange views on something i strongly beleiv…
ummm...at the risk of gettin banned from a forum, which is for true blue CAT aspirants ( ofcourse, increasingly " The Lounge and Chit Chat are becomin hot favourites), I ve summed up all the courage to exchange views on something i strongly beleive in- Entrepreneurship- something which is in more ways than one like giving birth to a baby, nurturing it, living a thousand lives, indeed dying a million deaths. I ve floated a self start up- a futures trading set up in the realm of commodities, and its gut wrenching to say the least. Come to think of it, at the time of evolution, there ought to have been an entrepreneur , who has since then employed lesser mortals ( pun intended). So in a sense, its a breed as old as the hills...I ve been doin quite a bit of research on all aspects of entreprenurship and would appreciate if this thread can be a platform to discuss ideas, thoughts, indeed concepts like incubation, Venture Capitalist Funding, Pramod Haque, the works.. 😃
Cheers
God Speed
Yogesh
P.S : For those who are passionate abt Entrepreneurship , The Entreprenurship Development Council Of India ( EDI) , offers a summer camp . More details at
http://www.ediindia.org/
Success as an entrepreneur is probably the closest to absolute success...
everything else is relative...
but obviously the odds are more stacked than getting to iim a
a great entrepreneur would have great difficulty with the CAT im sure...
but he/she definitely knows urgency is everything just like the CAT...
have fun,
K
Ahh...Jus noticed..there was a thread on business/entrepreneurship sometime in early 04'...as for now, its dead and gone...lets hope we have more enthuisasm and activity on this thread.....btw, for starters , we could probably discuss, first generation entrepreneur- Narayan Murthy, Sunil Mittal, Roman Abramovich, Sabeer Bhatia...
Cheers
God Speed
Yogesh
Ahh...Jus noticed..there was a thread on business/entrepreneurship sometime in early 04'...as for now, its dead and gone...lets hope we have more enthuisasm and activity on this thread.....btw, for starters , we could probably discuss, first generation entrepreneur- Narayan Murthy, Sunil Mittal, Roman Abramovich, Sabeer Bhatia...
Cheers
God Speed
Yogesh
man this is the forum for the mba so lets discuss the entrepreneur who are the mba, me too aspiring to become an entrepreneur and when i was asked name 5 entrepreneur who have done mba i was bowled over , could name only the CEO's of TIME and CL. then i was asked if i could name the 1's who have entreprise worth more than 500crores and this time i was
.so frienz lets get some useful info here name any entrepreneur that u know have done ther mba................cheers
MBAs and entrepreneurship dont go well together...
i would say if you do an MBA the odds get stacked even higher... though
if you had the ability in the first place then maybe it wont be reduced that much...
think about it... You finish your IIM C MBA, 8 lakh pa guaranteed...
You wont have it in you to go for the glory because if you fail you will be ruined... You finish your ISB MBA you have a huge loan to pay... haha
entrepreneurship is about madness... iq just doesnt help that much... intuition and luck are far more useful... intuition is anyways the only valuable quality (according to none other than einstein) luck is more easily available... a risk taker with great intuition changes the world... one in ten that is... that is the problem...
Anyways there's an old einstein punchline
In the midst of difficulty lies opportunity....
So to create opportunity, create difficulty eh? (my extension to it)
have fun,
K
hey cool man i was waitin 4 this thread 4 sumtime now ...well 4 1 im also very interested in Entrepreneurship...well recently i ve read in a book by peter drucker tat an Entrepreneur is a one who creates resources n optimizes their use ...well 4 example petrol ppl in middle east used to think twas the curse of allah bout 100 yrs back but henry ford by inventing the motor vehicle has changed our lives completely...well the same goes to bill gates...the other thin is these ppl always have a role to play in our lives...like the world was different in 40s n tyhe world is different now....so frens pl come forward n discuss ur ideas on this forum
dear friends
really a wonderful thread...i do agree to some extent with "Desiguru" that MBA will sorta hamper(Read: Dampen) our entrepreneruship fire. Because huge pay checks, 5 star stay and other luxuries will surely make our heart to turn a blind eye to that oft untrodden path in our life.
But an ent. is driven by his heart and not by his mind. so if we can form an "Entrepreneurship Group (age group of 20-30)" and share our views it will be wonderful.. I request yogesh if he can do something on those lines nothing like that.
For one i am going to pursue my MBA from SCMHRD(2005-07) and have a burning desire to become an entreprneur. In fact my cousin who is a passout of XLRI is a successful entrepreneur (he had launched his own vetture a couple of years back(www.blueshift.com))... would like to trace his foorsteps.
guy_next_door83ummm...at the risk of gettin banned from a forum, which is for true blue CAT aspirants ( ofcourse, increasingly " The Lounge and Chit Chat are becomin hot favourites), I ve summed up all the courage to exchange views on something i strongly beleive in- Entrepreneurship- something which is in more ways than one like giving birth to a baby, nurturing it, living a thousand lives, indeed dying a million deaths. I ve floated a self start up- a futures trading set up in the realm of commodities, and its gut wrenching to say the least. Come to think of it, at the time of evolution, there ought to have been an entrepreneur
And finally instead of discussing about Ambani, Narayanamurthy i like to request yogesh, to share his experience on his start up which will give a real insight to a lot of people:)
luv
subbu
Hi all,
A million thanks to the guy who started this thread..I am sorry I didnt catch ur name earlier because I got excited looking at the EDII link and went on to check out the site...!! It was amazing...a dream come true!! I had been looking for a course in Agricultural Entrepreneurship and have now found it !! Thanks a ton !!!
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
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
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.
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....
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
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
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...
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..
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...
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.
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?
No Bschool can make an entrepreneur out of a non-risk taker. Its a fiercely individualistic and risky science.
The best a 'proper Bschool' can hope to avhiece is to create the right atmosphere for the entrepreneurial student to continue on his individualistic pursuits... So in the right atmosphere... the dormant entrepreneur inside might come out with all guns blazing...
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)
if mittal had done an MBA he probably would be Vice President Tata Steel today... that might be pushing it though... those who are in their hearts entrepreneurial will probably continue no matter what...
3. Does BSchools curb an individual's creativity and drive, through structured curriculum and rigorous grading systems? Are they not creating managers than innovators?
You cant get everything right... Like quantum mechanics... If you try measuring the velocity of an electron u will only get an approx value because the measurement process itself affects the results. A structured curriculum and the grading systems creates a great manager and good CEOs even but might trouble the unconventional among us...
Pls ponder on these lines and add your own.
4. Do the parents play an important role in deciding their children's career choices, especially of those from the 'middle class'?
Absolutely and quite unfortunately this is true. An entrepreneur from the middle class is going to get it big time from his family who will not understand why their smart kid doesnt want to go continue with his 6lakh pa job and bet it all on starting a business.
K