ENTREPRENEURIALSKILLSBy G RAJ NARAYAN

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WHO TREADS THIS PATH?

Challenges, Freedom and Passion

Keen desire to achieve

Strong will to succeed

Capability to work 24x7

Out of the box thinking

Explore off the beaten track

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REQUIRED SKILLS Good planning capabilities

Domain knowledge

Competitive, Leadership and Innovation skills

Multi-tasking skills

Resource Management: finances, employees, time

Ability to stick to schedules

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ATTITUDINAL REQUIREMENTS Assertive personality

Open mind for learning

Open to criticism

Strong desire to please and satisfy

Networking capabilities

Ability to withstand failures

Hard work and Perseverance

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FAMILY REQUIREMENTS

Should have at least moral support from immediate family members

Not too many family commitments, either psychological or financial

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FINANCIAL STRENGTHS

Reserves to sustain without any returns for a year or two

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PROBLEMS OF A START-UP

Financial assistance from Banks

Marketing skills

Finding Manpower

Multi-skilled and Multi-tasking needs

Interactions with Government departments:

Electricity, Pollution Control Board, Excise, Sales Tax,

Service Tax, Labour, Municipal Corporation etc

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ROAD TO SUCCESS

Let the right attitude show

Focus on Quality

Stick to promised schedules

Communicate with customers

Upgrade knowledge, skills and technology

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UNIQUENESS OF RADEL

Small and modest beginning

Innovative solutions

Promoters’ passion for the products

Customer-centred approach

Rapid turnover of cash flow

Continuous innovation

Scale model of ideal industry

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SMALL AND MODEST BEGINNING

Established:1979

Initial Capital: Rs.10,000/-

Sub-contract manufacturer for BHEL

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INNOVATIVE SOLUTIONS

Developed Multilayer coil tester and ensured zero defect

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Problem: No equipment available to test multi-layer coils

PROMOTER’S PASSION

Inventions of electronic musical instruments: 1979

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CUSTOMER-CENTRIC APPROACHExtracts from Appreciation Letters from Customers

 I am most impressed with the swiftness of your reply and your service. Now I can see why the rest of the world feels threatened of Indians.

Paresh Shah, London

 I must say I am very, very impressed with Radel's customer service. Your responses to my questions have been both fast and friendly. My overall opinion is that Radel is a first-rate company in all aspects, and I will be sure to spread the word among my fellow students of Indian music here in the United States.Tom Austin

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CUSTOMER-CENTRIC APPROACHExtracts from Appreciation Letters from Customers

 You have a very satisfied customer here :-).It’s obvious to me that your company is committed to innovation, customer satisfaction, and refinement. It's certain you will see more orders from me.Suresh, Australia

 Your package arrived in excellent condition on June 24, a mere 7 days for delivery. Your excellent packaging would have prevented all damage from anything less than the direct crush of an elephant's foot. Both instruments work well. Consider me a well-pleased customer.George Graves USA

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CUSTOMER-CENTRIC APPROACHExtracts from Appreciation Letters from Customers

 I really appreciate the service rendered by RadelIt is really nice to note that the after service rendered by your company is far beyond service rendered by many of the service industry.I don’t have any words to express my satisfactionGanesh, Hyderabad

 Any one who thinks of a "sruti box” it should be RADEL. Dr.S.A.S Sarma, Pondicherry

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Design and manufacture of electronic fan regulators:1981

Design and manufacture of automated home lighting controls: 1982

CONTINUOUS INNOVATION:EXPANSION OF PORTFOLIO

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First model of electronic tambura for Indian music:1979

CONSTANT UPGRADATION OF PRODUCT PORTFOLIO

One of the new models of

Digital tambura: 2014

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Invented electronic Tabla

for North Indian music:1987

CONSTANT UPGRADATION OF PRODUCT PORTFOLIO

The first electronic tabla Taalmala

The latest model of

digital tabla: 2014

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Digital VeenaInvented and Patented: 2002

NEW INVENTION ADDEDTO PRODUCT PORTFOLIO

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Management of:

•Cash Flow

•Product Portfolio

•Marketing Skills

•Quality Awareness

•Customer-Centric Approach

Led to growth and set up of a Private Ltd company: 1994

DRIVERS OF STEADY GROWTH

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TIMELY EXPANSION

Set up a state of the art factory in Electronics City Bangalore: 1995 Obtained ISO 9001:2000 Certification: 2003

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PROBLEMS OF GROWTH

Creation of core team

Need for quality Managerial staff

Higher overheads

Wider applicability of statutory laws

Wider area of operation - Sales & Marketing costs

Competition from unorganized sector

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PROS & CONS OF REVOLUTIONARY PRODUCTS

PROS

First mover: Creates Buzz

Less Competition initially

CONS

Concept Selling

Slow Customer Adoption

Innovative Marketing needed

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PROS & CONS OF ASMALL PLAYER IN A NICHE MARKET

PROS

Fewer Competitors

Better Margins

CONS

Small market - Limited Growth options

Small marketing budget - Limited Visibility

Employees disconnect with product line

Batch Production

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PROBLEMS & SOLUTIONS SOLUTIONS

Be fair and transparent

Be Law-abiding, principled

Upgrade continuously

Hire and train

Optimize Cash Flow

PROBLEMS

Ethics - Employees, Customers, Dealers Govt. Agencies

Copy-cats

Manpower

Funding

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DIVERSIFICATION

Leveraged extensive domain knowledge in the Aerospace sector to set up an Aerospace company: 2005

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Electronic bomb release

Speed Switch for Dornier

RMI tester

Distributor for Jaguar

AEROSPACE PRODUCTS

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QUALITY CERTIFICATIONS

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AWARDS IMM BINATONE Award for Innovative marketing: 1987 Karnataka Rajyotsava Award: 1996 Karnataka Kalashree Award: 2001 (Govt of Karnataka) R&D Award from Govt. of India: 2010

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When Creativity and Innovation combine with

Stringent Military Quality, you get

Radel

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SO WHAT DOES IT TAKE TO BE

AN ENTREPRENEUR?

All of these qualities

Plus

Your own DNA

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GOOD LUCK!

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