Mangaluru: The MBA department of AIMIT (St Aloysius Institute of Management and Information Technology), St Aloysius College (Autonomous) in Association with Kanara Global Entrepreneurs had organised a one-day Entrepreneurship Development Programme on March 21 at 9 am for the second MBA students.
Addressing the gathering after inaugurating the programme, Jeevan Saldanha, President of Kanara Chamber of Commerce & Industry dwelled on his own journey and enumerated how improvisations and changes kept him moving. The main thrust was on how to be successful entrepreneurs, establish their own rules and succeed even if they fall a couple of times in this life long journey. He also shed light on the fact that 90 percent fail and only one in 10 make it beyond 10 years but one could overcome this with a ‘Can-do’ attitude. He deliberately spoke on how one is to do something right until it is proved wrong. He also reconciled on how failures get the better from people therefore, as entrepreneurs one should overcome this fear of failure.
Fr. Denzil Lobo S.J, Director, AIMIT delivered the Presidential address emphasising on the passion for carrying out a business. He portrayed the journey of a passion which turns into an obsession and an idea becoming a reality. He put forth an example of a bunch of entrepreneurial freaks who strove towards becoming successful. He said that lack of imagination is a heavy cost to bear and therefore, a creative and an innovative mind will help one compete with others in order to survive.
The Certificates of the online course on Entrepreneurship from Santa Clara University, San Jose, USA were handed over to the student coordinators Merlin, Niharika and Janet by Director Fr. Denzil Lobo S.J. A hundred and sixty completed this MOOC course.
Macquin, student coordinator welcomed the gathering while Helma Coutinho, student coordinator proposed a vote of thanks. Dr. Rowena Wright, Dean- Academics, Swapna Rose, Faculty Coordinator were also present. Leeslie Lobo anchored the inaugural.
There were four sessions conducted and the first session was addressed by Annappa Pai. who is the director of ACE Foods Pvt. Ltd. He focussed on his journey as an entrepreneur. His business of manufacturing started due to the non-availability of tasty potato chips in the city as compared to Mumbai. The idea of becoming an entrepreneur gained momentum while travelling to explore various possibilities to start a new business. He stressed on the importance of analysing before acting. His suggestions to young entrepreneurs were to focus on the product, quality and customer rather than the money. He also said it would be useful to learn new languages to communicate to the suppliers, dealers, service providers and customers. Success doesn’t happen overnight is what he concluded his session with.
The second speaker for the day was Vatika Pai, proprietor of Nirmala Travels and Vice President of Kanara Chambers of Commerce and Industry. She spoke mainly about her journey as a woman entrepreneur. She said that it was the drive to do something different is what brought Nirmala Travels into existence, which is the pioneer of travel coach service down in the south. She said that one needs to be passionate about the business they are getting into. When it comes to travel related business, patience to handle all types of customers and humility to serve them is what takes the entrepreneur a long way ahead. As a woman entrepreneur striking a balance between family and business becomes a concern, she said. However, times are changing with quarter of the businesses worldwide being owned by women entrepreneurs. To conclude, she said a person willing to take risks, ready to give 24X7 of one’s time and learns to accept the ups and downs of business is worthy to be an entrepreneur.
The third session in the afternoon was addressed by Dr. Raja K G who is the proprietor of Libay Fashions. It was his passion to do something new and innovative that brought about a shift in his career line from academics to business. Speaking about his start-up, he said that it happened accidentally. Ventures may be accidental where in an idea just pops up and turns out to be a start up with innovative ideas. He also spoke about the mode of payment that is more suitable for a t-shirt customisation business where in he explained the pros and cons of having cash on delivery (COD) system. Further, he also shared about few practical situations where business tactics need to be applied. In such situations, it is common sense that one needs to use, he added.
The last session was by CA Chandrakanth Rao B who spoke on the formalities of starting a new business. Speaking about the financial aspect of business, he explained about the sources of funds, forms of funds which vary from business to business and also the mobilisation of funds. He guided the budding entrepreneurs on what they need to focus on when it comes to the financial planning of a business. He threw some light on how the funds would appear in the Profit and Loss statement, how to present the project report while seeking funds from a bank. He also shared important information on the legal aspects and compliance factors while starting a business.
On the whole the workshop paved a path to be more informative, interactive and gave students the necessary insights to become successful entrepreneurs.
