SYMBIOSIS INSTITUE OF MANAGEMENT STUDIES

AN INTERVIEW OF 2 ENTREPRENEURS

PRESENTED BY:

MAYANK MALHAN/II B/ROLLNO: 21

Mr Nishit Desai

Founder- Truesparrow Systems Pvt. Ltd ,Pune

1. What ignited the spark in you to start a new business venture? How
did the idea for your business come about?

Excitement to start something on my own and the idea came to me during

my post graduation in the United States.

2. How do you find people to bring into your organization that truly
care about the organization the way you do?

I picked up people directly from engineering colleges and that too mostly
freshers because other students were apprehensive joining a start up.

3. What would you say are the top three skills needed to be a
successful entrepreneur?

-vision and foresight

-good understanding of the markets

-ability to have back up plan ready in case of a failure of strategy

4. Describe/outline your typical day?

Morning starts with a team meet where the activities for the day are outlined
and urgent issues addressed. Work is allocated and the day ensues with
afternoon and evening filled with meetings and conferences.

5. How has being an entrepreneur affected your family life?

My wife helps takes care of the human resources and i get to spend even
more time with her and i am much happier now.

6. What are your ideals?

Honesty, integrity and respect for an individual.

7. How do you define success?

Success to me is satisfaction.

8. What is the best way to achieve long-term success?

 By mutually including the people and the environment in the process of
creating prosperity.

9. Is your company profitable or what is your profit for last year?

Yes.

10. Where did your organization's funding/capital come from and

how did you go about getting it?

Family and friends.

11. How do you build a successful customer base?

By building a relationship rather than a transaction with the consumers and

thinking always, how will it help the consumer?

12. How did you decide on the location for your business?

Close to the target group and my hometown.

13. Do you believe there is some sort of pattern or formula to

becoming a successful entrepreneur?

Yes all the ingredients are the same. They just come in varying proportions.

14. What is your favourite aspect of being an entrepreneur?

Having the feeling of working for yourself.

15. To what do you most attribute your success? What would say
are the five key elements for starting and running a successful
business?

To my liberal upbringing.

Passion/ Perseverance/ Team skills/Foresight and People skills.

16. What has been your most satisfying moment in business?

Being recognized by our clients for the efforts put in by the employees.

17. What do you feel is the major difference between entrepreneurs

and those who work for someone else?

Not much I guess. It’s what excites an individual.

 18. What kind of culture exists in your organization? How did you
establish this tone and why did you institute this particular type of
culture?

Culture for out of the box thinking.

19. What are some of the biggest mistakes you've made?

Poorly negotiating an important deal because of poor intelligence from

market.

20. How can you prevent mistakes or do damage control?

By being alert and aware and equipped with knowledge and intelligence.

Mr Sudhanshu Raheja

Founder,

Prima Educational services ltd.

Q1. What ignited the spark in you to start a new business venture or to
make significant changes in an existing business? How did the idea
for your business come about?

A1. If I had not been an entrepreneur, I would have to work under someone. This
would not only limit my rate of growth but I would also have to adjust my
work according to their level of competence.

Q2. What three pieces of advice would you give to college students who
want to become entrepreneurs?

A2. I would tell the students to:

a) Start generating ideas.

 b) They should read a lot and invest in themselves. Enhance their knowledge
in the respective field. Plan each and every minute detail with obviously
contingency plans. Although you cannot predict every future scenario,
but, this way at least you are thinking in a way that would alleviate your
business

c) Do not succumb to the societal pressure of getting a job, as it would seem

to be a safer option to some.

Q3. What would you say are the top three skills needed to be a
successful entrepreneur?

A3. The top 3 skills would be:

a) Multitasking
b) Execution skills/micro-execution skills
c) Creativity

Q4. What have been some of your failures, and what have you learned
from them?

A4. Initially I could not manage my money and my cash flow was also not
accurate. I forgot to pay my service tax once and had to pay a hefty penalty.
I have learnt to take care of my liabilities properly. Also, initially I had too
many things going on. Sometimes, extreme innovation can also be bit of a
problem.

Q5. How long do you stick with an idea before giving up?

A5. This is my first venture and I am still sticking with it.

Q6. How many hours do you work a day on average?

A6. It is pretty much flexible.

Q7. How has being an entrepreneur affected your family life?

A7. Not too much. The only difference is that I am more at peace with myself now.

Q8. What motivates you?

A8. Reading, travelling and outdoor activities.

Q9. How do you generate new ideas?

A9. I read a lot of books. I think quite a lot. Sometimes, watching a good movie
might spark a new idea.

Q10. How do you define success?

A10. Success to me would be having reasonable amount of money because money

is important also. But not too much of it also. Creating the right kind of
culture in my organisation would be my biggest success.

Q11. What is the best way to achieve long-term success?

A11. Consistency, hardwork, innovation

Q12. Where did your organization's funding/capital come from and how did
you go about getting it? How did you obtain investors for your
venture?

A12. I got the initial from my father and my two other partners.

Q13. How did you decide on the location for your business?
A13. The location was a little away from the city. It should create a learning
environment.

Q14. Do you believe there is some sort of pattern or formula to becoming

a successful entrepreneur?

A14. There is no fixed formula but along with hardwork, you need a lot of
creativity.

Q15. What is your favourite aspect of being an entrepreneur?

A15. The independence that comes along with being an entrepreneur.

Q16. What has been your most satisfying moment in business?

A16. Watching students enjoy the learning, play cricket, read etc.

Q17. What do you feel is the major difference between entrepreneurs and
those who work for someone else?

A17. Lack of initiative

Q18. How do you go about marketing your business? What has been your
most successful form of marketing?

A30. Excellent servicing that leads to good word-of-mouth publicity. I don’t believe
in conventional marketing and advertising methods. Institutes like IIPM that
spend around Rs. 5 lacs per week per region to advertise. That amount of
money could be used to educate thousands of others. Customer satisfaction
that leads to creditable referrals is the best way to market your product of
service.

Q19. In one word, characterize your life as an entrepreneur.

A19. Experimental
Q20. What sacrifices have you had to make to be a successful
entrepreneur?

A20. Not any.