I recently attended a lecture by Mukund Mohan at CIIE, IIMA (the incubation centre inside IIMA). You can find more about Mukund Mohan here: http://www.linkedin.com/in/mmohan
The lecture was about the most important qualities that any entrepeneur should have. Here are the excerpts. According to him, there are 3 main qualities every entrepreneur should possess:
1) Attitude: Entrepreneurship is one long hard-journey. More often than not, people fail in their first few entrepreneurial venture. Dhanush's 'Kolveri Di' was his 94th song, which shot him to fame. His 93 prev. attempts were all flop song/soup soung. Similarly, 'Angry Birds' was the 54th game developed by Rovio. They had failed in their prev. 53 attempts. Had the company or the singer given up after the first few attempts, they would have never achieved so much success which they eventually did.
Thus, every entrepreneur should be patient and persistent. Don't bother the failure. In failures, the person who hurts the most is the person who failer. No other person cares a damn. So just relax and enjoy. Since the journey is so hard, an entrepreneur should be really passionate about what he is working on, else he will lose interest and fall in between!!
2) Story-telling: Every entrepreneur has to be a great story-teller in order to market or sell his product/service. This, I believe, is what most Indian entrepreneurs lack. Good story-telling involves narrating the story to the listener/potential buyer by making a connect from his everyday life. Understand that only when the customer can relate to the product through his everyday experiences, will he then buy your product. Watch this video to get a clearer idea: http://www.youtube.com/watch?v=6dklERlulQA
Although the video has no audio, but even then the video is attempting to connect to the everyday user and explaning how his product will help them cope up with everyday challenges.
3) Discipline: This consists of two parts
a) Hard Work - It means doing lots of work and slogging, taking appropriate breaks in between (chunking) and having absolute clarity and focus on what you want to achieve
b) Smart Work: It means asking lots of questions (the art of asking the right questions will come once you ask a lot of questions), measuring your work continuously and willing to experiment with new things.
The lecture was about the most important qualities that any entrepeneur should have. Here are the excerpts. According to him, there are 3 main qualities every entrepreneur should possess:
1) Attitude: Entrepreneurship is one long hard-journey. More often than not, people fail in their first few entrepreneurial venture. Dhanush's 'Kolveri Di' was his 94th song, which shot him to fame. His 93 prev. attempts were all flop song/soup soung. Similarly, 'Angry Birds' was the 54th game developed by Rovio. They had failed in their prev. 53 attempts. Had the company or the singer given up after the first few attempts, they would have never achieved so much success which they eventually did.
Thus, every entrepreneur should be patient and persistent. Don't bother the failure. In failures, the person who hurts the most is the person who failer. No other person cares a damn. So just relax and enjoy. Since the journey is so hard, an entrepreneur should be really passionate about what he is working on, else he will lose interest and fall in between!!
2) Story-telling: Every entrepreneur has to be a great story-teller in order to market or sell his product/service. This, I believe, is what most Indian entrepreneurs lack. Good story-telling involves narrating the story to the listener/potential buyer by making a connect from his everyday life. Understand that only when the customer can relate to the product through his everyday experiences, will he then buy your product. Watch this video to get a clearer idea: http://www.youtube.com/watch?v=6dklERlulQA
Although the video has no audio, but even then the video is attempting to connect to the everyday user and explaning how his product will help them cope up with everyday challenges.
3) Discipline: This consists of two parts
a) Hard Work - It means doing lots of work and slogging, taking appropriate breaks in between (chunking) and having absolute clarity and focus on what you want to achieve
b) Smart Work: It means asking lots of questions (the art of asking the right questions will come once you ask a lot of questions), measuring your work continuously and willing to experiment with new things.
