Tips to Become Your Own Boss Dr. Sachin S. Vernekar

8/10/2019 Tips to Become Your Own Boss Dr. Sachin S. Vernekar

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Ready Reckoner for your

Entrepreneurial Dream

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Presented By:

Dr. Sachin S. VernekarDirector, BVIMR New Delhi

Ten Tips to Become Your Own Boss:


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What is Entrepreneurship? Entrepreneurship is all about an idea whichcreates differentiated business value tocustomers, said Mr. N.R. Narayana Murthy,

Chairman Emeritus of Infosys Technologies. ( Source: The Hindu Business Line in anexcerpt from TieCon Hubli-2012 .

JOSEPH SCHUMPETER View on

Entrepreneurship , A process whereestablished ways of doing things are destroyedby the creation of new and better ways of gettingthings done.

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Ten Commandments of EntrepreneurialDream

1. Prepare Your Family Pillar of Support Mywife wasnt too comfortable with myentrepreneurial zeal, so we agreed to give it a

year. If I failed to zero in on something withinthis period, I would return to a job RiviVarghese, Customer XPs ( A Real - Time

Intelligent Customer ExperienceManagement Solutions for Banking, Retailand Telecom Industries).

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3. Forget The Job Perks As a manager in acompany, you are accustomed to other peopledoing things for you. In a start up, you have

to care of everything yourself fromoperational expenses to food bills JiggyGeorge, Dream Theatre (Official site forband and some of their side projects.

Information includes tour dates,discography, album reviews, tablatures,

sound clips, photos, links and an online shopping store).

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5. Have a Plan that is Unique The businessplan should be unique and clutter free. Anentrepreneur must look into his area of core

competence and use it to devise a strong plan Kavindra Mishra, Zovi.com ( Anexclusive online apparel brand in India;quality mens & womens apparels, formal

shirts and leather belts )

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6. Belief in Yourself - Belief in ones idea cantake you a long way. Our concept was ahead ofits time, but I didnt give up on my vision. At

every step, there were people who ridiculedthe idea. I had the last laugh VSS Mani, JustDial (Just Dial India's No.1 local searchengine provides comprehensive updatedinformation on all B2B and B2C Productsand Services).

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7. Interact with Like Minded My partnerAbhishek was running an e-commerce portal,which was acquired by a bigger website. He

expressed interest in working with me and welaunched our site Chetan Bafna,Fetise.com (Fetise is India's first online

shopping community for Men - sellingapparels, shoes and accessories fromcontemporary luxury brands).

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10. Have a Plan B Ready After the first fewmonths, we realised that service was not ourcore competence. Besides, the margins were

quite low. This was the time we concluded thatit was better to focus on products Rahul Anand, Happily Unmarried (HappilyUnmarried is a product design brand from

India).(Source : Excerpt from How to Fund aStart Up, The Times of India, February 6,2012, Page No. 18 ).

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Think and Act !!!!!!! Be theAgent of Positive Change

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Tips to Become Your Own Boss Dr. Sachin S. Vernekar

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