1 / 120

Piran Doctor

Piran Doctor. Director ASCII Group Of Companies. Avoidable Pitfalls For The Entrepreneur. Establishing Credentials. Pitfalls Or Mistakes. Learning From Mistakes Wise learn from mistakes of others Average learn from own mistakes Fools never learn. Purpose Of The Session.

jodyflores
Download Presentation

Piran Doctor

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Piran Doctor Director ASCII Group Of Companies

  2. Avoidable Pitfalls For The Entrepreneur

  3. Establishing Credentials

  4. Pitfalls Or Mistakes Learning From Mistakes • Wise learn from mistakes of others • Average learn from own mistakes • Fools never learn

  5. Purpose Of The Session • Make Sure You Don’t Make Them

  6. Boy, Have I Made Many!

  7. The Circumstantial Entrepreneur

  8. Personal Standing • Fascinated by computers • Studying in 12th Std. • Proficient in Applications & F1 Key • Dream to own a bike • Attended a course on Entrepreneurship conducted by IMC • Extremely impressed by Mr. Forbes

  9. The Course • Identifying Projects • Finance • H.R. • Marketing • ….. • Selective Listening

  10. Motivation & Support Structure • Both parents in service • Chartered Accountants • Grass always greener on the other side • Business definitely the way to go • Dad puts up office space • Willing to guarantee borrowings

  11. The Opportunity • Franchise Advertisement For Computer Education • Low investment • Immediate setup • Money would just pour in • Existing success stories • Not to mention a Posh Office and the Mafatlal Name

  12. Sure Shot ! Signed Up

  13. C.A. Dad Prepares Project Report Loan Zoroastrian Co-op Bank Disburses Loan

  14. Comprehensive 1 Week Training • Rearing to go • Definite beliefs on • What is going to work • And what is not • Sure knew how to make it work

  15. So What Are Your Beliefs ? Money Pricing What Brings In Customers Business Knowledge Scale Of Operations What’s Needed

  16. Let’s Get Back Its My Story, Remember ?

  17. Infrastructure Ready • Arguable Location • Out Dated Computers • Arguable Scale of Operations

  18. The Inauguration • Small affair • Called all well wishers • All who would be some use

  19. My First Employee • Not sure of volume of business • Hire • 1 Lecturer • Send him for training for the Course • Hold the fort till he gets back

  20. Contribution to brand building Advertisements I guess I was the only one that read them!

  21. Lesson Learnt Brand Building Advertisements For Small Businesses A Waste

  22. Advertisements Need To Focus On Getting Customers In Need To Be Focused & Customer Centric

  23. The First Student Pre-Convinced Yet Took The Longest To Convince

  24. The First Batch • 8 in the Morning • My Role • Open the door • Keep students entertained • Apologize for Lecturer’s absence

  25. What are the problems so far ?

  26. Lessons Learnt • Business Opportunities need to be scrutinized thoroughly • Entrepreneurship NOT a bed of roses • Don’t mess in something you have no idea of • If you don’t have an idea – GET ONE • Keep Backups • Get A Mentor

  27. The Learning Stage Myth I need to know everything there is

  28. Never Happened Needed To Get Others

  29. Recruitment A Moderate Issue Got Basic Help

  30. Loan Repayments Commence Need To Get That Money In Thanks To Mr. Gutta

  31. Sitting Learning Not Helping Got to get out & sell Get my self a Sales Guy

  32. The Sales Stage • Batches started money flowing • But not enough to pay the bills

  33. Sales Guy Gets A Break 1st School Student Batch

  34. Kids Do Great Easier To Teach

  35. More In My League School Marketing In Full Earnest

  36. First School Contract Hung On Pricing

  37. Learnt About Marginal Costing Applied, Deal Goes Through

  38. What are the problems so far ?

  39. Lessons Learnt • Sales is what we are in business for • You need to know a good deal • Not everything • Planning • Keeping provision for Working Capital • Your budgets are not accurate: Provide for overflows

  40. Pays The Bills, Nothing More Marginal Costing Sucks

  41. Word Spreads Better Pricing More Schools

  42. Business But No Money No People

  43. Need Of The Hour Finance Recruitment & Training

  44. Approach To Staff I Needed These Guys Nothing Less Than Equals I was Only More Equal

  45. What are the problems so far ?

  46. Lessons Learnt • Repay before time • Earn the confidence of lenders • Be prepared for growth • Team has to be ready before the business comes in • Team is what makes it all work

  47. You Gad U Dares The Unthinkable Meeting with the Chairman of the Bombay Port Trust

  48. Huge Recruitment & Training Contract A Real Confidence Booster

  49. Observation You tend to play at your level of comfort

  50. Lesson Might as well play at levels of discomfort

More Related