Entrepreneurship Awareness - V. Pattabhi Ram

 Different people have different view on what constitute enterprise and entrepreneurship. Mindset of an entrepreneur and how he things. Why people want to be entrepreneur and the skills needed. Here was an interesting session from Pattabhi Ram Sir. 

Entrepreneurship is Living a few years of your LIFE like most people won't so that you can spent the rest of your life like most people Can't. 

Can you identify the below people? 

First four from US:

1. Elon Musk - Tesla Motors
2. Mark Zuckerberg CEO of Facebook
3. Jeff Bezos - Amazon
4. Steve Jobs - Apple

The below four from India:

1. Sridhar Vembu – Zoho
2. Deepinder Goyal – Zomato
3. Ritesh Agarwal - Oyo
4. Tilak Mehta – Paper and parcel

You remember the creators, but not the employees. Who was the CEO of Microsoft ? Not many will remember – employees, but all will remember who found Microsoft.  Satya Nadella is the chief executive officer (CEO) of Microsoft, succeeding Steve Ballmer in 2014, while every one would know Bill Gates found Microsoft.

Entrepreneurial Mindset is said to be one where a person can:

• Think outside-the-box, Create larger than life ideas
• Create Jobs, Invent product/services and make the world a better place to be in. 

Look for unconventional solutions. Look at ways in which things can be done differently. Larger than life ideas. When I work, I only take up a job; but when I become and Entrepreneur, I create job for many. But ideas come, when you as an individual face a problem, and you will be able to solve it. In other words, find the problems that you are facing, find solutions and you will be able to do good business. Why and Entrepreneur? Five possible answers:

• Saw a problem I want to solve
• Do something of my own
• Wanted to change the world
• A business innovation in mind
• Escape from by 9/5 job

Entrepreneurship mindset:

• Spur Innovation
• Job Creation
• Drives Economic Growth
• Improves Productivity
• 24/7

The more and more comfort you provide to customer, you make them lazy, you will gain reward. You need to have passion for that. You should be able to go along with what you have been failing. Do it, until you succeed.  

Skills needed for success are:

1. Curiosity - Jack Dorsey (Twitter) said curiosity played a big part in clearing his path towards success. Seek Opportunities, Be Queer, and get fully engaged with the world. 
2. Innovation - Netflix was created to allow people to watch movies without going to video store, by mailing DVD's. Implemented the Online streaming business model in 2007
3. Speed - Greg Gianforte, current governor of Montana and successful entrepreneur of Right Now Technologies, had ideas but no capital.  Not waiting, he started getting on the phone with potential customers. After acquiring needed funds he sat to work & Completed coding in 60 days. 
4. Passion - Walt Disney grew up only drawing. He said, " Mickey Mouse.
5. Perseverance - J.K. Rowling was rejected by twelve different publishers. Her perseverance resulted in a brand name currently worth $15B
6. Adaptability - Nokia was first a pulp and paper company, and then a power generation entity. It saw opportunities in telephone and change to mobile communications. 
7. Team - PepsiCo is leading the way toward a more inclusive, diverse workspace. 
8. Networking - Nazar founder of DocStoc.com owes his success to his networking efforts. He used networking to raise $4 million in startup funds. 

There is no B2B or B2C but only H2H. Today bots ML, AI prevail. In the impersonal online space, the human element can be a huge differentiator. 

Read these books:

• Think and Grow rich by Napoleon Hill
• Rich Dad Poor Dad by Robert T Kiyosaki
• The 4 Hour Workweek by Timothy Ferriss
• Deep Work by Cal Newport