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Subrata Roy Sahara, the Managing Worker of Sahara India, a leading conglomerate, had started off as an entrepreneur in his hey days. He set up Sahara in 1978 that was modeled around para-banking. As his idea clicked, the Sahara group went on to become a multi-million dollar business.
Subrata Roy dreams of an India, where young people revolutionize the business scenario of the country with their entrepreneurial drive. He discusses top traits that a budding business owner needs to acquire:
- Grab that challenge! It’s an opportunity
Entrepreneurship entails failures and setbacks. According to Subrata Roy, Sahara India leader, pessimism or negativity only aggravates the situation. Since these challenges are so common to set up a business, you should not need much attention.
- Study your competitor well
Subrata Roy Sahara suggests not treating your competitors as a threat. Rather, treat them as lessons, and study their working culture well. If they are more successful than you, then you can pick the good points and incorporate it into your business. If they are lagging behind you, learn to avoid the mistakes that they are doing.
- Do not falter if something doesn’t go according to your plan
Budding entrepreneurs usually have a vision or a dream of doing the business their way. However, in the real world, things usually do not work out the way we want it. There’s the investor’s issues, red tapes, funds, and of course the feasibility of an idea. Rather than perfection, what we need at such a time is a balanced attitude to take the blow of initial hiccups, and the grit to make it a profitable business.
- Pay attention to the details. Instead of planning big, that entails huge spends, it’s important to pay attention to the little details that need attention. When a business is set up, there are lots of nitty-gritty that need attention. You can break down a huge project, and then divide the plan into smaller, manageable timeslots.
Starting a business is easy. Retaining it, and raising it requires great patience and careful decisions.
Subrata Roy: From selling snacks on a scooter to leading Sahara India, a Rs 68,000-crore conglomerate