How To Become a Successful Entrepreneur in Today’s World?

The Key Steps to Becoming Successful in Today's Society.

Learn how you can start living successfully as an entrepreneur. Before you start your journey, let's first define "entrepreneur," and examine some of the characteristics of an entrepreneur in today's world. The definition of "entrepreneur" is a person who organizes, operates, and assumes the risk for a business venture. What are some of the typical characteristics that make up an entrepreneur in today’s world?

• Entrepreneurs have passion for what they do in life.


• Entrepreneurs express a great amount of enthusiasm in their line of work.


• Entrepreneurs are goal-oriented in their quest to reach their desired outcomes.


• Entrepreneurs have a creative imagination when it comes to their ideas in business.


• Entrepreneurs have a positive attitude when it comes to building their business and business relationships.


• Entrepreneurs are very quick decision-makers in their business endeavors and ideas.

These are some of the amazing characteristics of an entrepreneur.

An entrepreneur chooses not to sit back and take what life deals him; he attacks life head on, takes charge of his own life, and has a persistent determination to create his own path in life. In a book called “Think and Grow Rich” by Napoleon Hill, Mr. Hill said that “an educated person is not necessarily a person with any specialized knowledge, but an educated person is one who has so developed the higher faculties of their mind that they can acquire anything they want without violating the rights of others.” Do you know what the higher faculties of your mind are? The higher faculties of your mind are perception, reason, memory, will, intuition and imagination. Many wealthy entrepreneurs today understand these higher faculties; you are going to be introduced to a couple of these higher faculties in the following steps.

After applying the steps below, you will have a good understanding of the entrepreneur personality test. The entrepreneur personality test is a test for you to discover the mindset you have now, compared to the new entrepreneurial mindset that you will be creating. Also, your new entrepreneurial mindset will help you to understand the importance of a network of business opportunities. It is important for you to start networking with other like-minded individuals to help assist you in accomplishing your business goals. Most of the wealthy entrepreneurs today are living successfully due to the many benefits of having a small business as an entrepreneur that’s home-based in the state they live in now. So let’s go into the key steps of what it takes to become successful.

1.Create your new entrepreneurial mindset. Before you can become successful, you have to create a new mindset to achieve the things you want in your life. Examine your current mindset, and how that way of thinking has gotten you to where you're at right now. Be honest with yourself when looking over your current results, because this will give you an accurate measure of the choices that you have made over the years. Only then will you begin to see for yourself that it is time for you to work on your new mindset in order to start living the life you want to experience, regardless of your current circumstances. Once your new entrepreneurial mindset is in motion, you will start making very creative choices to move you faster to your desired goals. Find three to four successful entrepreneurs that have the lifestyle that you want, and ask them if you can interview them individually to understand the reasons why they are so successful at what they do in their current business as an entrepreneur. While you are listening to them, take notes, examine what they say to you about themselves and their success, and grasp what type of mindset they have now in their lives. This will propel your own success in so many different ways because you will be able to apply what you have learned to your own mindset.

Apply personal development in your daily life starting today. For example, read good self-help books like the one mentioned at the end of this article. Listen to self-improvement tapes, CDs, and as an extra bonus, attend a least one personal development seminar a year to help grow, maintain and keep your new entrepreneur mindset growing everyday. Your level of awareness will increase greatly with the new mindset that you are creating to go after the things you want in your life. Having an open mind as an entrepreneur will also help you make better decisions quickly, and become more creative.

2.Get out three blank sheets of white paper and a pen or pencil. Take out three blank sheets of white paper and a pen or pencil. You are going to write down your new mindset as an entrepreneur on your sheets of paper. Writing down what you want (and what you are going to achieve as an entrepreneur) is a very powerful activity that you are making a habit of now. Taking out your sheets of paper right now is a serious gesture that you are making to let your subconscious mind know you are a person of action. This step will help propel you on your new journey, the journey of taking the necessary steps needed to achieve your desired goals. These three blank sheets of paper represent your future. As an entrepreneur with a new mindset you can paint any picture you want to on the three sheets of paper, regardless of your current circumstances.

3.Write down all of your new ideas as an entrepreneur on the first sheet of paper. Label the first blank sheet of paper you have as number one. You have been spending some time changing the way you think, and creating a new entrepreneur mindset: Start writing down all of the new ideas that you have as an entrepreneur now. The ideas that you are writing down now are the ones that you have been thinking about in your mind that you want to create and achieve in your physical presence now. For example, if you have a burning desire in your heart to start your own daycare center, restaurant, hotel, or create a product for people to buy, then write down all of your ideas in every detail. Write down how big the daycare center is going to be, where it is going to be located, what color the building is going to be, how many children you will allow to be kept in your daycare, how many people you will staff, what type of services you will provide to the parents and children coming to the daycare. This is a perfect example of how you can start writing down all of your ideas as an entrepreneur on the sheet of paper now.

4.Write your short-, middle- and long-term goals down on the second sheet of paper. A short-term goal is something you want to achieve in one day, one week or one month. A middle-term goal is something you want to achieve in ninety days to six months. A long-term goal is something you want to achieve in one year or more. Write down what you want to achieve as an entrepreneur on the second blank sheet of paper. List them in the categories stated above as short-, middle- and long-term goals. At the top of the paper, you can have your short-term goals, in the middle section of the paper, you can have your middle-term goals, and at the bottom of the paper you can have your long-term goals (if necessary use the back side of the sheet of paper). Be creative when writing down your goals because this is your life that you will be experiencing in the near future. This is one of the biggest reasons why 1% of our population is earning around 96% of all the money that’s being earned in our world today. They set goals, and they keep at them until they have seen them through into their physical manifestation.

5.Write down fifty things you want to experience in your life now on the third sheet of paper. Write down fifty things that you want to experience in your life now on the third blank sheet of paper. You can start really having some fun in this step by writing down fifty things that you want right now regardless of your current bank account, job, business or relationships in your life now. Those fifty things that you write down will help you to understand that you can have whatever you want in your life as an entrepreneur. However, you have to first know what you want in detail. For example, you might want a brand new house in the city that you are currently living in. If you write down that you want a brand new house, however, that is not what you really want, and it is not in enough detail for you to realize that you can have what you want now. If you write down that you want a brand new two-story house that has five bedrooms, and four bathrooms with a whirlpool Jacuzzi in the master bedroom upstairs, and brown hardwood floors all throughout the downstairs of the house, now you are really writing about wanting that house! You can see it clearly in your mind, and you will surely take the necessary actions when the time comes to buy that home (without violating the rights of others in achieving your goal). This will surely move you in the direction of taking the steps necessary to meet your goals. Many wealthy entrepreneurs get what they want every time because they write it down on paper first; then, they go after it in their daily life.

6.Integrate personal development into your daily lifestyle. Start applying personal development everyday in your daily life. With the new mindset you have now, you should continue to feed your mind everyday with personal development. For instance, you can take out three minutes in a day and meditate on goals or just clear your mind of everything for the moment. Read a good book on personal growth, listen to meditation music, have a conversation with a positive person and people or obtain a personal development program to help keep your mind on track in accomplishing your goals. The meaning of personal development can be found in the term "self-help," which means any practice whereby an individual or a group attempts self-guided improvement—economically, intellectually or emotionally. So you see this is some great stuff to add as a part of your daily life and it will certainly help move you in the right direction. Successful entrepreneurs apply personal development in their daily lives everyday. They work ninety percent on themselves, and ten percent on their businesses. So with that in mind, personal development is a must to achieve success as an entrepreneur.

7.Give yourself a command and follow it. Now that you have been thinking and writing about your goals, the things you want, and your ideas as an entrepreneur, give yourself a command on what you want to achieve first as an entrepreneur, and follow it until you see it through to the finish. Then you can move on to something else that you want to focus on and achieve. You will continue the same process over and over--whatever you decide you want to achieve, give yourself a command and follow it until it is achieved.

8.Keep your new mindset positive by hanging around like-minded individuals. Hang around more like-minded individuals daily, monthly and yearly to keep a positive mindset. Hanging around individuals that have the same entrepreneurial concepts that you do will keep your mindset in a positive state, and on the right track to achieve your goals. You can hang around like-minded individuals by either listening to a group of individuals on the phone via conference calls, attending seminars, being part of an online forum of positive people like yourself, and keeping in contact with the positive like-minded people you have formed a relationship with on your journey in achieving your goals. The more positive like-minded people you associate with regularly, the more it will certainly keep moving you in the direction of becoming successful as an entrepreneur.

9.Take seven minutes out of everyday to visualize the end result of your goal in your mind. Take seven minutes out of your day to visualize the end result of your goal that you have decided to achieve within a specific time frame (as mentioned in step number three). For example, if you decided to own your own daycare center, then you could spend seven minutes in the day visualizing about every aspect of your daycare center as if you currently owned it in the present moment. You can also start off visualizing everything that you wrote about the daycare center in step number three. Then you can work your way to the end result of having the daycare center in your possession now. For instance, visualize the amounts of checks that you are receiving from your customers now that you have the daycare center, visualize different cars parked at your daycare center parking lot, visualize the joint ventures that you have created with other daycare center owners in your area in providing better services in your city. Before successful entrepreneurs became successful, they first visualized the end result of their goal, and continued to dwell on that end result a few minutes of everyday until it became a part of their experience in life.

10.Put four positive affirmation statements on a sticky note around your home, office, and work area in times when you need to be encouraged as you move forward with your new idea. Place your affirmation statements in a specific area in your home, office, and work area to help continue your encouragement in accomplishing your new ideas. Affirmations should always be written as positive statements in the present tense. Placing four affirmation statements on a sticky note around an area that you visit most often will further your actions toward your goal because your affirmations will began to work as supportive thoughts, and a placeholder for a more positive mindset in your daily life. Your affirmation statements should always be written in present tense such as, "I own a daycare center in Chicago, Illinois," or you can write, "I am a daycare center owner in Chicago, Illinois." Keep your affirmation statements short, positive, and to the point of what it is that you want to see manifested as an entrepreneur in your life now. You will definitely be putting yourself in the 1% bracket of our population that gets everything they want out of life.

11.Sign your name to the sheets of papers with your new ideas, goals, and the things you want in your life as an entrepreneur. Put your signature on the end of the sheets of paper where you have written down all of your new ideas, goals and the things you want to experience in your life as an entrepreneur. By doing this step, it will promote a sense of seriousness within yourself, that you mean business in accomplishing your ideas, goals and what you want. You also will feel that you have already completed your aspirations by signing your documents of personal achievement. Your signature represents a decided heart and a new mindset. Eric Rodriguez

12.Make a decision to yourself that you will never give up on your new ideas and goals until you see them manifest in your life. Do yourself a huge favor right now and go ahead make the decision to never give up on your new ideas, and goals until you see them manifested in your life as an entrepreneur. Many unsuccessful entrepreneurs in today’s society give up on their goals and ideas at the first sign of temporary defeat. There is no such thing as failure, only temporary defeat in life, period. When a successful entrepreneur has a temporary defeat, he remains calm, relaxed, and confident in his quest to achieve his goal because he understands that every temporary defeat is backed by a great or equal number of successes in his life. That’s why many successful entrepreneurs always get what they want in life; they never give up on what they want.

13.Take action on your new ideas and goals as an entrepreneur. You have been taking action all throughout this article in the steps listed above, so now it is time for you to take the necessary action to make it happen. This step is the meat and potatoes or the salad and yogurt (if you are watching what you eat, you get the picture). Take action everyday on your new ideas and goals as an entrepreneur. You deserve the best that life has to offer, so the only gap between knowing what to do and doing it, is action. Take action everyday regardless of your current circumstances in life. As an entrepreneur with a new mindset, you are the leader, and it's time for you to start living successfully as an entrepreneur in today’s world.
The steps above will keep you getting more of want you want and less of want you don’t want in your life. They have been in use for years by many of the wealthiest entrepreneurs on this planet. You now have in your hands a blueprint to your success in whatever you want to create.

I personally use these steps in my own life everyday, which has brought me an abundance of opportunities, money and phenomenal business relationships that I am very grateful for everyday in my life. So here is to your success! Remember there is no such thing as problems, only opportunities in life. Embrace every opportunity that is in harmony with what your goals and ideas are in life, and you surely will begin living successfully as an entrepreneur in today’s world.

Reference:
Lee Butler
Lee Butler

3 Tips to Help Avoid Overwhelm If You're an Entrepreneur With a Business to Run.

Most entrepreneurs feel overwhelmed at one point or another. In fact, staying focused can be one of the biggest daily challenges.

This can prevent your business moving forward as quickly as you'd like... and leads to that feeling of there never being enough hours in the day.

Here are some tips to put yourself back on track:

1. Focus on 'results' rather than 'goals'
Goals differ from results. You might have a goal to complete a new sales page by the end of the month and get it online. You may even have a series of mini-deadlines to help you achieve this goal. But what is the RESULT you want to achieve? The result you want is to land new clients. The sales page is just part of the puzzle to achieve this. Always focus on the outcome, rather than getting bogged down by short-term goals.

2. Be specific
Results need to be specific to be effective. "Increasing sales" is not specific, for example. "Get 10 new sales in the next 30 days" is a very specific outcome. As is: "Get 20 targeted leads before the end of this week." This is a much better way of monitoring your progress.

3. Prioritize
It's easy to get overwhelmed by the seemingly 'urgent' tasks and lose sight of the truly important ones. Supposing you want to increase your online sales by a specific amount this quarter. But maybe your website isn't set up to achieve this outcome. Your first priority would therefore be to get the revisions done and put online. That result would allow you to move on to your next goal of driving traffic to your website. If you do things in the right order, it makes it so much easier to achieve results.

Using these tips will help give you clarity and focus, so that you can build your business faster and with less frustration. Once you get into the habit of using them, you'll find staying on track much easier.

Is Entrepreneurship For You?

In business, there are no guarantees. There is simply no way to eliminate all the risks associated with starting a small business - but you can improve your chances of success with good planning, preparation, and insight. Start by evaluating your strengths and weaknesses as a potential owner and manager of a small business. Carefully consider each of the following questions:

Are you a self-starter? It will be entirely up to you to develop projects, organize your time, and follow through on details.

How well do you get along with different personalities? Business owners need to develop working relationships with a variety of people including customers, vendors, staff, bankers, and professionals such as lawyers, accountants, or consultants. Can you deal with a demanding client, an unreliable vendor, or a cranky receptionist if your business interests demand it?

How good are you at making decisions? Small business owners are required to make decisions constantly - often quickly, independently, and under pressure.

Do you have the physical and emotional stamina to run a business? Business ownership can be exciting, but it's also a lot of work. Can you face six or seven 12-­hour workdays every week?

How well do you plan and organize? Research indicates that poor planning is responsible for most business failures. Good organization ­ of financials, inventory, schedules, and production ­can help you avoid many pitfalls.

Is your drive strong enough? Running a business can wear you down emotionally. Some business owners burn out quickly from having to carry all the responsibility for the success of their business on their own shoulders. Strong motivation will help you survive slowdowns and periods of burnout.

How will the business affect your family? The first few years of business start­up can be hard on family life. It's important for family members to know what to expect and for you to be able to trust that they will support you during this time. There also may be financial difficulties until the business becomes profitable, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk in the short-term.

Why Small Businesses Fail

Success in business is never automatic. It isn't strictly based on luck - although a little never hurts. It depends primarily on the owner's foresight and organization. Even then, of course, there are no guarantees.

Starting a small business is always risky, and the chance of success is slim. According to the U.S. Small Business Administration, roughly 50% of small businesses fail within the first five years.

In his book Small Business Management, Michael Ames gives the following reasons for small business failure:

• Lack of experience
• Insufficient capital (money)
• Poor location
• Poor inventory management
• Over-investment in fixed assets
• Poor credit arrangements
• Personal use of business funds
• Unexpected growth

Gustav Berle adds two more reasons in The Do It Yourself Business Book:

• Competition
• Low sales

More Reasons Why Small Businesses Fail

These figures aren't meant to scare you, but to prepare you for the rocky path ahead. Underestimating the difficulty of starting a business is one of the biggest obstacles entrepreneurs face. However, success can be yours if you are patient, willing to work hard, and take all the necessary steps.

On the Upside

It's true that there are many reasons not to start your own business. But for the right person, the advantages of business ownership far outweigh the risks.

You will be your own boss.
Hard work and long hours directly benefit you, rather than increasing profits for someone else.
Earning and growth potential are far greater.
A new venture is as exciting as it is risky.
Running a business provides endless challenge and opportunities for learning.

For more related information, check out:
Small Business Planner

Coach CEOs Through Stress for Success.

Stress for Success...

In times of crisis, the natural response is to buckle down, lie low and try to maintain the status quo - which, in many cases, means the bottom line. The unfortunate side effect is learning and development initiatives, especially at the senior management level, often decline.

According to Dr. Peter Warshaw, a vice president at RHR International, a group of corporate psychologists, now is the time to offer CEOs and senior managers developmental support so they can navigate the company through current stormy conditions.

"In very turbulent times, these are the most meaningful developmental experiences that executives have," Warshaw said. "If their organizations provide them with a little bit of support, a little bit of reflection, and a little bit of a safety net, the development of our executives through this is going to be really, really tremendous. Talent development, HR folks and line managers need to think about [this] as a real opportunity to make lemonade out of lemons."

Warshaw outlined a few key pieces of advice talent managers can convey to their senior leaders to help them help their companies:

1. Lead and manage effectively.
"Crisis leadership is one that's not dictatorial, but people are really looking for leaders to put stakes in the ground and say, 'This is what we stand for,'" Warshaw said. "It's very difficult and challenging to lead with both the demeanor of being calm and in control and at the same time invoke a high sense of urgency in the organization. [But it] is extremely important."

2. Clarify the message.
"If the only message that is coming from the C-suite is 'cut costs' - which is certainly an important one, it's very reactive - it sends fear and trepidation throughout the organization," Warshaw said.

CEOs and senior managers should reiterate what the company stands for and explain that, for the company to continue to stand for that, layoffs or budget cuts are unpleasant requirements. However, this is not the time for grand vision, Warshaw said. Keep it simple and current.

3. Swap scenario planning for strategic planning.
"The whole idea of strategic planning is out the window. What the best CEOs and CFOs are doing these days is what we call scenario planning," Warshaw said. "They're working out the scenarios in advance and asking the 'what if' questions: 'What are we going to do if our revenue drops 10 percent?' 'What are we going to do if our revenue drops 30 percent?' [They should have] those plans at least reasonably thought through so that if the bottom drops again, they're prepared, and they're not running around like chickens with their heads cut off and having knee-jerk reactions that may be damaging to the company."

4. Ask for help.
"This is not the time for executives to go off alone or make the decisions in a singularly top-down way," Warshaw said. Typically, it's very difficult for CEOs to ask for help, he said, but it's critical right now. There are two kinds of help that should be sought: internal and external. Internally, CEOs should meet regularly with senior teams to make sure they have the best thinking at the table. They also should hold one another accountable for their actions. Externally, CEOs should cultivate relationships with advisers, board members or even groups of other CEOs so they can let their guards down, engage in self reflection, talk about their concerns and get emotional support, Warshaw said.

"It's those people outside the organization that are particularly helpful around things, CEOs and other senior executives can't really show and disclose within their organization," he said. "Not reaching out doesn't necessarily mean disaster, but it is a recipe for disaster."

5. Develop new skills.
"Executives are being forced to develop new skills by necessity," Warshaw said. For example, one leader might be very analytical and make decisions based reports only, while another might be more intuitive and listen to his or her gut.

"In these turbulent times, neither one of those styles is sufficient," he explained. "People who are analytical have to learn to be more intuitive, and people who are intuitive have to be more analytical [while also] rely [ing] on the best thinking of their teams to help balance that out."

Reference:
Agatha Gilmore
[About the Author: Agatha Gilmore is a senior editor for Talent Management magazine.]

The Coffee King: Howard Schultz is Born.

“I wanted to be in charge of my own destiny,” says Howard Schultz. “It may be a weakness in me: I'm always wondering what I'll do next. Enough is never enough.” Schultz used this weakness to his advantage, taking the U.S. by storm with his vision of a coffee shop the likes of which the country had never seen before. Today, as a so-called ‘third home’, Starbucks has revolutionized not only the coffee industry but also society at large. 

Howard Schultz was born on July 19, 1953, in Brooklyn, New York as the oldest of three children. He grew up in Bayview Project, a government-subsidized housing unit. His family had little money and both parents worked long hours to try and support the family. Growing up, Schultz spent most of his time playing sports, taking a particular liking to football, baseball and basketball. He found that he quickly excelled in each of these in high school and used it to his advantage, receiving a football scholarship to Northern Michigan University. 

Schultz was determined to escape poverty and become the first member of his family to graduate from college. In 1975, he realized his dream and earned his bachelor’s degree in business and marketing. But, while Schultz’s academic career was soaring, his family life was taking a turn for the worse. His father was starting to suffer from the never-ending stream of low-paying, dead-end jobs he was forced to work. “I watched my dad’s self-esteem fracture,” Schultz would later recall.

Nevertheless, Schultz was determined to make more of his own life. After graduating, Schultz moved back to New York and got a job working for Xerox Corporation. He then switched to working as a salesman for Hammerplast, a Swedish housewares company. When he noticed that he was selling many coffee percolators to a little Seattle-based company, Schultz flew out to see why.

In 1981, Schultz met with Gerry Baldwin, one of the owners of Starbucks, and he immediately fell in love with the company and the concept. In less than one year, Schultz had left Hammerplast and had become Director of Retail Sales for Starbucks. But, Schultz’s vision for the company soon took a different turn from its original owners. 

When Schultz first joined Starbucks, it had 12 retail outlets and was dedicated to selling coffee beans and coffee-related products. In 1983, Schultz went on vacation to Milan, Italy, and became infatuated with the idea of coffee bars, places where gourmet coffee was served not in beans, but by the cup, and where people could come to meet and relax. “I believed the relationship I saw between people and coffee in Italy was transferable to America in a big way,” he said. 

“Great companies recognize who they are and who they are not,” said Schultz. “But they must have the courage to examine transformational opportunities”. The owners of Starbucks disagreed with Schultz’s vision. They had little desire to expand their company in the way Schultz was proposing. But, confident in his idea and the untapped possibilities, Schultz left Starbucks and started out on his own.

Entrepreneurship: Why Everyone in an Enterprise Can -- and Should -- Be a Leader

Why Everyone in an Enterprise Can -- and Should -- Be a Leader

Leadership doesn't just start at the top. Leaders can also be found at the bottom of an organization and at just about every place in between. In this special report by Knowledge@Wharton and The McKinsey Quarterly, the management journal of consulting firm McKinsey & Co., experts from McKinsey and Wharton point out that regardless of whether people are on the top line or the front line, they should explore ways to exercise their leadership potential to the fullest. That is the only way in which they can create meaningful working lives for themselves and the organization can get the most from their efforts. 

It is said that leadership starts at the top. This is often true, of course, but it is far from being the whole story. Leaders can also be found at the bottom of an organization and at just about every place in between.. 

Indeed, management experts at Wharton and McKinsey say that leadership can be found and must be practiced by employees at all levels of an organization. That is the only way in which an enterprise can get the most from managers and employees alike, achieve its strategic goals, fulfill the personal career aspirations of its people, and lay the groundwork for identifying and developing future leaders, including those who may eventually serve at the highest levels. A payroll clerk who recommends a way to streamline the process of cutting a check is demonstrating leadership -- given the parameters of his or her place in an organization -- in the same way as a CEO who is launching an initiative to transform a corporation. 

“Everybody can lead at every level; there are no excuses,” says Michael Useem, director of the Center for Leadership and Change Management at Wharton and the author of many articles and books on leadership. “It doesn’t matter if you’re on the front line or the top line. If you are given an office with the powers of that office, what do you add to the office above and beyond those powers? Do you excite and motivate people? Do you bring excellence and vision to what ultimately is the objective of that office or even the whole company? Everybody should be good at leading, whatever their level in the hierarchy.” 

“Everyone can exercise leadership by being an individual contributor at any level of an organization,” agrees Helen Handfield-Jones, an independent consultant on leadership talent strategy and co-author of the book The War for Talent. “What does that mean? Ultimately it comes down to looking for opportunities to make the world a better place. That sounds grand, but when people apply that idea to their work situations, it means having a vision of how your unit, or you as an individual, can be more effective and creative, go beyond day-to-day requirements, and energize others around that vision.” 

Keith Leslie, a principal in McKinsey’s London office, notes that in recent years many business people and business journalists have become enamored with the idea of the “heroic” leader -- the super-talented individual who single-handedly shepherds his or her organization to new heights. 

While powerful, charismatic individuals can make a difference, it is usually leadership teams, not the lone wolf, which prove essential to organizational success. In a 2001 article in The McKinsey Quarterly titled “Teamwork at the Top,” Leslie and two co-authors underscore this point by including a statement by former General Electric CEO Jack Welch, who says of GE: “We’ve developed an incredibly talented team of people running our major businesses, and, perhaps more important, there’s a healthy sense of collegiality, mutual trust, and respect for performance that pervades this organization.” 

“The emphasis that we at McKinsey place on team leadership is applicable to management teams at all levels -- top, middle or front line,” says Leslie. “There are two reasons we disagree with the view that leadership means a heroic leader who will bring the organization to the future. One, we observe lots of different kinds of people being successful leaders. I have some very successful CEOs as clients who are introspective and data-oriented. Those kinds of people can be just as effective as big-message, extroverted types. The second thing we observe is that there are people who are great leaders in one institution but not elsewhere. Quite a few chief executives have moved from one company to another and not struck gold twice. The reason is that context really matters. Having the right fit for leadership activity is incredibly important.” 

Both Useem and Handfield-Jones emphasize that leaders are made, not born. “There is no born leader as such,” says Useem. “Leadership at the front, mid and top lines alike is not innate. It is true some people have a huge head start. They’re exceptionally clear minded. They communicate well. They’re exceptionally persuasive. They look physically like a leader should, at least in the idealized Hollywood version. But the real skills of leadership at every level must be acquired in our lifetimes. There are no biological advantages. You have to learn those skills. And any organization, by implication, has to provide a chance for everybody to be a leader.”

Organizations can help managers and employees become leaders in a variety of ways: encouraging people to read histories, study biographies, carefully observe leaders around them, and engage in lifelong education. Organizations can also mentor people and help them discover, in their own way, how they can improve. Perhaps the most important thing organizations can do is encourage people to get out of their “comfort zones” and take on new tasks and challenges. 

Leading in Different Ways

While everyone in an enterprise can demonstrate leadership skills, middle managers and other people in non-executive positions must lead for different purposes and by different means than CEOs and other senior executives. No one suggests, for example, that a middle manager can influence a company’s strategic direction to the same extent as a chief executive. But non-executives can readily find ways to make their influence felt. 

Wharton management professor Anne Cummings agrees with Useem and Handfield-Jones that all employees can be leaders, even those who have no one reporting to them. All employees can exert what Cummings calls “horizontal” leadership -- leading in a setting where a person does not have the formal authority that is bestowed by a supervisory relationship. 

“There is a set of skills and capabilities that are useful at the lowest levels; you exert it through your peers and in team settings,” Cummings says. Leadership in the lower ranks can involve everything from prioritizing tasks and managing time to getting people to accomplish goals and resolving conflicts. Such commonplace actions are important because they help an organization at any level meet its goals. 

The essential set of skills for a senior executive -- character and integrity; the ability to think strategically; the ability to communicate and persuade; decisiveness and thoroughness in execution -- should be manifested by all employees. But they are exercised differently, and are narrower in their scope and influence, by people lower in the ranks. “If you’re an associate at Wal-Mart, you don’t look to change the entire corporate system,” according to Cummings. “You do what you can do to improve things where you are.” 

Consider the differences and similarities involved in how senior executives and middle managers approach communications. Senior executives must communicate a company’s overall strategy to investors, securities analysts, politicians and other external constituents. Internally, executives must be adept at communicating through channels ranging from an e-mail to one person to an on-stage presentation in front of thousands of employees. 

Mid-level managers, on the other hand, are almost never responsible for talking with political leaders or Wall Street analysts. Their public persona, if they even have one, is unimportant because typically their communication is done internally and to small groups of people. Yet the fundamental communication tenets of clarity and persuasion, accompanied by a healthy sense of ethics, should shine through even if everything is done, more or less, with a handshake and eye-to-eye contact, according to Useem. 

Like senior executives, non-executives can demonstrate leadership by taking into account three important themes in making decisions: direction, interaction and renewal. Leaders look at the direction in which they are trying to take their business, according to Leslie, the McKinsey consultant. Leaders ask the right questions about overall organizational performance and how teams work together to improve performance. Leaders set clear goals for their businesses as a whole. They then work to institute processes that revitalize the effort and commitment of the people they work with. Effective leaders are rarely satisfied. They continually ask: What is the next level of improvement? 

Middle managers and others can also exhibit leadership by “leading up,” according to Useem, who is the author of a book of that title. Leading up means offering new ideas and new directions to one’s superiors. Leadership is not a matter of how many subordinates one has; it is “a calling to help the organization go in the right direction, which means leading up.” 

Look for Challenges

People who wish to strengthen their leadership skills should seek out challenging experiences. “Put yourself in situations you’ve never been in before,” says Handfield-Jones. “If you’ve spent three to five years in one business unit, make a change. Lead a mature business, then a start-up business. Learn to lead in a line position, then put yourself in a staff role. You also have to seek out feedback, coaching and mentoring, so you can reflect on your own leadership style and learn about yourself as you go along.” 

As leaders grow and take on greater responsibilities, it becomes necessary for them to begin nurturing future leaders. Yet this is one of those responsibilities that appears obvious yet is often neglected, according to Handfield-Jones. “Managers and executives think developing talent is what HR does. That’s not true.” 

Indeed, while many major companies have formal leadership development programs, employees who seek to grow as leaders and be recognized for their leadership capabilities should not rely solely on these programs.

“It’s generally recognized that if you want to retain talented junior executives you have to give them opportunities to grow or develop,” Cummings says. “Most companies these days have some sort of leadership development program, but just how well organizations actually support these programs varies. These programs have to be in place, but having them in place is not enough. I’m hearing more and more that formal mentoring programs don’t necessarily work. It’s the informal development of people that may matter more.”

A Reluctance to Lead

Useem notes that people occupying the middle and lower levels of organizations sometimes resist, or even resent, bearing the mantle of leadership. Leadership is something for senior people to do, the thinking goes, and, after all, the rank and file are not paid to lead anybody. “Yes, you often hear people say those kinds of things: ‘They pay the execs at top level the big bucks to be leaders. But I think it’s a misstatement of what is required. Your leadership will have less impact at a lower level, by definition. Therefore you’re paid less. But leadership, in my view, is still obligatory on the part of everyone.”

Robert Felton, a McKinsey director and manager of the firm’s Seattle office, has had extensive experience studying change management. He says organizations that wish to improve and adapt with the times may find that middle managers are not only unwilling to act as leaders in fostering change but will actually work to thwart it -- not out of malice but out of inertia and a stubborn unwillingness to think and act in different ways.

It may seem counterintuitive, but when it comes to identifying and tackling problems, senior executives and front-line employees, along with their immediate supervisors, are often the groups of employees who see eye-to-eye on the need for action. The stumbling block to fixing what is wrong frequently is middle management. 

“The problem comes in the middle,” says Felton. “The middle manager, in my view, tends to overcome many, many change initiatives from both directions. CEOs are trying to change things from top, and front-line people are trying to change things from the bottom, and middle managers kill it. The middle manager is generally the enemy of serious change.”

To avoid this situation, Felton suggests that organizations recognize that they employ two kinds of middle managers. The first group consists of managers who possess neither the mettle nor the inclination to rise through the ranks but play vital roles because they have experience and know their jobs inside and out. The second group consists of people on the promotion track who may some day reach the senior level. 

Both types of managers are necessary to organizations but both are also quite capable of thwarting necessary change if they find it in their interest to do so. If senior executives want to initiate change of any kind, Felton recommends that they form a special task force with the front-line folks who share the view that change is required and have them report directly to the senior people rather than middle management – at least until the task is accomplished and perhaps permanently. 

Says Felton: “You need to create a partnership between the senior people and the front-line people -- and the front-line people need to be empowered. If they work for middle management, they will never be empowered.” Eliminating layers of middle management permanently can also reap rewards, as was famously demonstrated at General Electric under former chief executive Jack Welch. 

Felton adds that middle managers who embrace change are exerting leadership by setting an example for their peers and direct reports. In doing so, they are also putting themselves in a better position for promotion to more senior levels. 

As people grow as leaders, they are likely to find that their ability to lead requires a more sophisticated and less direct approach. “You have to find ways to influence people and inspire people around a vision,” says Handfield-Jones. “Then you have to shape that vision and shape the culture and values of your organization. You also have to have the fairly sophisticated leadership skill of making sure the leaders who report to you are themselves effective leaders to their people. So you’re reaching more broadly and more indirectly than your own immediate circle.”

And how, exactly, does someone with little or no managerial or supervisory experience go about taking that first step toward being a leader? “It simply involves an act of will,” says Useem. “You must simply decide, ‘I’m going to step forward to make a difference. I’m going to offer fresh insights and get people excited about where this company or organization ought to go.’ Leadership is a matter of personal commitment and drive..”

What is an Entrepreneur?

Entrepreneur - a strange word that is hard to spell and even harder to define. Everyone seems to have their own definition, but what is the true definition? 

Entrepreneur is from a French word which simply means "to undertake." The dictionary definition tells us it is a "person who organizes, operates, and assumes the risk of a business venture. 

In our society, we think of entrepreneurs as ones who have strong ideas about a product or service, or an innovative way to market or manufacture a product or service. They are people who are not afraid to run the risk of being wrong and are willing to take that "road less traveled" to make things happen. If you begin a study of "famous" entrepreneurs, it will be interesting reading. 

The National Science Foundation, U.S. Department of Commerce and others have reported that since World War II, "smaller entrepreneurial firms have been responsible for 67% of all inventions and innovations, and 95 percent of all radical innovation in the United States." That's a pretty big statement. 

When you think of the personality traits of an entrepreneur, what comes to your mind? Do you think of the adventurer? The risk taker? The visionary? The leader? The problem solver? The hard worker? The goal-driven one? All of these are probably true, and more can be added. 

Are Entrepreneurs Born or Made? 

However, are all of these qualities born in a person? Or are we looking at a list of skills that can be developed over time? Perhaps a little of both. 

But how does this affect you? Do you have what it take to be an entrepreneur? Do you even want to be? Do you want to take an idea and run with it, making things happen and developing your own company? 

The good news is, online marketing is quickly changing how we view entrepreneurs and how we define the term. Let's look at what individuals are doing online today. These make up a new breed of "online entrepreneurs" if you will.

What's an Online Entrepreneur? Instead of considering how to take an idea and build a big, new, innovative business, an online entrepreneur simply wants to take back the control of his or her life. In whatever form or fashion that may turn out to be. 

First of all, you don't have to have the original idea for a product or service. Nor do you have to have all the marketing savvy. Many people are setting up their own online businesses because they don't have to do all the legwork (i.e. don't have to reinvent the wheel). Many of these are individuals who, if you gave them one of those "personality tests," they wouldn't even fit the so-called standard entrepreneur profile. 

If you have been thinking about starting your own online business, but think you aren't even the entrepreneur-type, think again. Do a little research on the conventional description of an entrepreneur. Instead of shaking your head and thinking you'd never fit that mold, examine the list and determine which qualities are actually learned skills. Anyone can learn a new skill. Step out and Learn!

If you lack self confidence, read confidence-building books (or listen to teaching CDs) by such greats as Zig Ziglar, Jim Rohn, Robert Schuller, Brian Tracy, Anthony Robbins, just to name a few. And that's just one area. Whatever you need to learn, you can learn if your desire (your "why") is big enough and strong enough. 

You've never lived in a better time to be able to take back control of your life in an entrepreneurial fashion. There are countless opportunities for wildly successful online businesses. You'll find direct sales, network marketing, affiliate marketing, and tools and tutorials galore. 

All that is required is a will to step out of your comfort zone and learn. One of these areas is tailor-made just for you and your personality. Even if your personality falls a little short of all that is thought to be needed to become a conventional entrepreneur. So if you're wondering if you can be an entrepreneur, the answer is - it's entirely up to you. It's your choice. Go for it!

Reference:

Rob Walcher can be considered as one who had determined to learn all the skills needed to become an independent-thinking entrepreneur. He shot to the top in two different direct sales companies in a matter of 18 months and has become known as the Ten-Figure Guru. Rob has subsequently helped hundreds of entrepreneurs achieve their own success. If you want to learn how to get comfortable with a few more zeroes in your income and work directly with Rob click here: 10 Figure Guru  

Sunil Bharti Mittal: The Unsung Hero of the Telecom Sector.

The Unsung Hero of the Telecom Sector.

The son of a politician, Sunil Mittal is from the town of Ludhiana in Punjab. He has built the Bharti group, along with two siblings, into India's largest mobile phone operator in just ten years. The UK based telecommunication giant, Vodafone and Singapore's SingTel both own stakes in the recently renamed flagship company Bharti Airtel. The group also has partnerships with Axa for insurance and with the Rothschild family for exporting fruits and vegetables.

He has been Chairman & Managing Director of Bharti Group since October 2001.

Entrepreneurial Ventures

Residing in Delhi, he is married, with three children. A first generation entrepreneur, he started his first business in 1976 at the age of 18, with a capital investment of Rs 20,000 (U$1500) borrowed from his father. His first business was to make crankshafts for local bicycle manufacturers.

In 1980 he sold his bicycle parts and yarn factories and moved to Mumbai.

In 1982 he became the exclusive dealer for Suzuki Motors's portable electric-power generators imported from Japan. The importing of telecom equipment were banned by the Indian Government as ITI (Indian Telecom Industry ) monopoly practices & sole OEM for Department of Telecommunication.[citation needed]

He established the first company to manufacture push button telephones in India. He was one of the first Indian entrepreneurs to identify the mobile telecom business as a major growth area and launched services in the city of Delhi and the National Capital Region in the year 1995.

Tie-Up with Wal-Mart

In November 2006, he struck a joint venture deal with Wal-Mart, the US retail giant, to start a number of retail stores across India.

In July 2006, he attracted many key executives from Reliance ADAG, NIS Sparta and created Bharti Comtel.

How does he relax? "I used to play golf before, now sometimes I play tennis. But I thrive on my work. For me, work is love, not stress. But I won't say there's no stress. As you come to the top of the pyramid, the intensity of competition, of jealousy, is high."

What about his family? "I have a daughter who's 17 and twin sons who are 13. I don't get to spend much time with the family. Everybody has a job to do and I think I was ordained to do what I'm doing. My family is supportive, however. Whenever I'm with them I try to spend some quality time. We have an occasional holiday. First generation entrepreneurs always have this problem."

Is the business environment in India changing to enable operations with integrity? Replies Mittal: "I've walked the corridors of power and there's a big positive change, which is very palpable at the higher level, since licensing has mostly been dismantled. At the lower levels, however, things are quite the same. But once change starts from the top there is some impact downwards..."

Kishore Biyani: The Man They Wrote Off.

Retail King of India.

Two years ago, no one took Kishore Biyani seriously. His company, Pantaloon Retail, was seen as a one-man show. Biyani himself was regarded as unpredictable, and not a long-term bet. Today, he is the biggest retailer in India. In two years, Kishore Biyani has bounced back to become India's largest retailer. Here's how the maverick ignored conventional wisdom on retailing, and won.

By M. Rajshekhar

His motto: "Rewrite the rules but retain the values", seems to have worked well for Kishore Biyani, MD, Pantaloon Retail (India) Ltd. In being chosen as the 'retail face of the year' by Images Retail, Biyani's efforts at 'rebranding' Indian retail has been recognised. "Pantaloon will innovate a pan-Indian model of retailing, rather than copy the western model," says Biyani.

Biyani was chosen for the award through a nationwide industry poll after a performance assessment by global retail consultants, KSA Technopak, Knowledge Partners and a jury chaired by McKinsey and Co.

The awards included 13 categories in retail segments such as fashion, catering services, food and grocery, health and beauty, leisure, consumer electronics and entertainment. The others nominated for the title included the likes of BS Nagesh, CEO, Shoppers' Stop, Raghu Pillai, CEO RPG Enterprises, KN Iyer, CEO of Crossroads, and Vikram Bakshi McDonald's JV partner in India.

Pantaloon's Kishore Biyani has become India's largest retailer, but still has several aces up his John Miller shirtsleeves.

In India's chaotic markets, Kishore Biyani is the unchallenged king of retail. He has the knack of catching rivals off-guard and striking where it hurts most.

Pantaloon Man

Unlike most people, Kishore Biyani makes no bones about his simplicity. He's the man you're most likely to ignore at the Pantaloon or Big Bazaar store, as he stands in a corner observing the way you shop. But make no mistake, what he may lack in sartorial style, he more than makes up through his observation powers.

You'll never catch him in a tie and jacket. He isn't a stickler for large cars, and has just graduated from driving a Honda City to a Honda Accord, though he's just as content driving around in a junior manager's Maruti.

He is a strict vegetarian, and is currently off cheese and fried foods, but will otherwise eat anything that is green.

According to him, golf is a waste of time. Instead, he's addicted to a daily half-hour walk and does yoga twice a week.

He used to be a lawn tennis regular but gave it up citing lack of time. He can't understand the fuss about gyms and hasn't visited any.

Biyani loves films and has even produced some, but was never part of that industry. His personal preference is films by Guru Dutt, Yash Chopra and Sanjay Leela Bhansali.

He believes in taking quick decisions. The deal with Bennett, Coleman & Co was done in seven days flat. He has never met V Banga of Unilever in his life, and leaves the task of relationship building to his managers.

Instead he spends time with property developers - Sanjay Chandra of Unitech is a pal - merchant bankers and investment bankers.

Biyani's victory isn't unexpected. India's own Sam Walton (the legendary promoter of Walmart) is quick to seize any advantage. Which is why the denim manufacturer who quit the trade because "it wasn't creative enough" commands over 1.3 million sq ft of retail space.

But even size hasn't made a difference to Biyani's vaulting ambitions and he's on an even faster trajectory of growth. He's booked over 4.5 million sq ft of space across the country, and will utilise 3 million sq ft by this year's end in 23 Indian cities.

He will invest over Rs 200 crore (Rs 2 billion) to make this dream a reality. Says R S Roy, editorial director of the magazine Retail, which tracks the industry closely: "Mall developers have him in mind before they start constructing. His presence ensures footfalls and a premium for the mall."

Even Biyani concedes, "We have a store opening virtually every fortnight; I have lost count now of how many I have opened."

But don't let Biyani fool you. He keeps a close watch over his empire with the assistance of his two brothers, who are directors in the company.

He might have over 6,000 employees and 300 managers, but the buck stops only with him. Every time a store opens, managers have to rush daily reports for the first 45 days, and it isn't unusual for Biyani to be fixing any lacunae either over the phone or personally in the store.

Weekly targets are fixed and reviewed every Monday. The badshah of the bazaar jets between his stores across the country to "spend at least six or seven hours every week in the stores", he says. Even when he's in inspection mode, Biyani takes time off to cut more deals.



Check out Book on Kishore Biyani:
It Happened in India by Kishore Biyani

References:
Kishore Biyani
3i Site

Designs on your Wallet.

Designs on your wallet

FROM a small operation run from the terrace of his house to getting luxury brand Louis Vuitton (LV) as an investor, it has been a long journey for Dilip Kapur and his leather accessories firm Hidesign. There have been a few changes along the way — more factories, more outlets, more countries but the underlying philosophy has been the same — emphasis on design, utility and craftsmanship, and most importantly, keeping it natural. It was this philosophy that won the luxury brand over to Hidesign. Dilip Kapur, founder and president of Hidesign, talks about the company’s journey, the LV investment and the road ahead.

How did the LV investment happen? Were there other contenders for the investment?

We did not approach LV. They came to us. They were looking for global sourcing locations and as part of it they were evaluating multiple countries — China, India, Vietnam. The French embassy had recommended visiting our factory in Pondicherry. They liked what they saw — our approach to work was very similar to theirs. Our focus is on leather craftsmanship not mass manufacturing. Also, we don’t use anything artificial in our products — for instance, we don't paint or emboss even if it means giving it a neater finish.

What does the investment mean for Hidesign? Will you also make bags for LV?

No. We are very clear that we will sell only under our brand. We are not interested in being an outsourcer to LV or any other brand. Will help each other but we will maintain our separate identities. We are helping LV to set up a factory in Pondicherry that is coming up adjacent to one we are setting up. In return, we will learn from the 150 years of experience LV has in leather. Their technology, systems and technical expertise are far superior to any other player.

Were there other offers for investing in Hidesign?

Yes, there were many. But we were not interested. They could not have added much value to what we were doing. LV, on the other hand, brings 150 years of experience in working with leather. So, we immediately said yes. We have a lot to learn from them.

DILIP KAPUR Founder & President , Hidesign

What is your current capacity? What was your turnover and profits for FY07?

We have two factories in Pondicherry and one tannery in Chennai. A third factory — the one I spoke about — is coming up on 30 acres of land. Our current capacity is about 25,000 bags, 30,000 wallets and 3,000 leather jackets a month. The FY07 turnover was around Rs 100 crore with a net profit of Rs 12 crore. We have been profitable from the first year of our operations.

Was there anything else that you did differently that worked in your favour in the LV investment? For instance, you started retailing over seas before you started in India. Was that a strategic decision?

Not really. It just happened. At the time we started, our product was a very rebel, alternative lifestyle kind of product. The other products in the market were well-finished, sleek. Ours was rough and vegetable tanned. This type of product is mainstream now but back then there was no market for it in India. Those who started retailing it London, San Francisco, Melbourne were also cultural rebels. We opened our first store in India in Bangalore in 2000. By then, India had opened up, there were more women professionals — things were changing. We now have 38 stores in India and 15 overseas that we own ourselves overseas.

The Hidesign logo, how did that come about? Did you hire a professional firm for your branding strategy?

The logo was designed by a friend. Again, it wasn’t like we hired a professional firm for it. The only thing that we’ve focused on consciously is quality. We have a lot of integrity and we recognise customers are not dumb. In fact, till recently, we didn’t even have CFO or CEO. We hired a CFO three years ago, a CEO two years ago and a COO this year. The business was proprietorship. We are only now incorporating Hidesign Design Pvt Ltd because of the LV investment.

I started the business with Rs 25,000 from my personal savings. I really didn’t think of it as a business at that time. It was more a hobby run from the terrace of my house. Then we moved to a bigger house, then four houses, we kept expanding. We set up our first factory only in 1990.

Where do you see yourself in the future?

We will venture into other related accessories. It could be, say, something to do with paper, like a small pad. Or textile. But our focus will always be ‘natural’. More immediately, we are working re-designing the interiors of our stores. From cream and dark brown that are very masculine colours they will become blue and white. We will also expand overseas, have more of our own stores. In a few years, the plan is to take our exclusive stores from 15 to 60-100.

Resources:
Author: N Shivapriya is the cheif editor in the Economic Times and the article appeared in one of their successful columns called "Starship Enterprise" in the edition on 7th Sept 2007.

Health and care for all.

Health and care for all

THAT India’s primary healthcare is in dire straits is well known. While the affluent sections are being overwhelmed with the choice of superspeciality service, there is a widely held belief that there is no money to be made in providing healthcare to the bottom of the pyramid. Some entrepreneurs are challenging this as a myth and trying to improve the health of healthcare in India.

Ziqitza Health Care Services, the company behind the 1298 emergency ambulance service in Mumbai, has shown the way that it is viable to provide services at a subsidy or for free. Anyone can avail of their dial-in ambulance service, and the company has made it clear that ability to pay will not be a defining factor for using the services.

It was a few years ago that five individuals decided to junk their corporate careers to start the company. Shaffi Mather, Manish Sacheti, Ravi Krishna, Naresh Jain and subsequently Shweta Mangal came together in 2002 to begin Ziqitza.

The first four knew each other from their studies in the US in the mid-90s. Says Mr Sacheti: “We had all decided that we should go back to India and do something in healthcare.” Shaffi Mather and Manish Sacheti met during their MBA at University of Pittsburgh’s Katz School of Business, and quit their respective jobs with Reliance Industries and The Aditya Birla Group. Naresh Jain, who graduated with an MBA from University of Maryland, College Park left GE Plastics and along with Ravi Krishna formed the core team.

The statistics they found were startling. Just 6% of all people in India have access to ambulances with emergency services, which meant that there were several individuals that perhaps lost their lives just en route to hospitals. The point was further driven home when Shaffi Mather’s brother nearly lost his life as a result of poor medical services. Says Mr Sacheti: “Having come from the US and observed the way the health care system works there, we definitely felt that we could do something in India.”

They swung into action by 2003. Shaffi Mather, the CEO of Ziqitza, had worked with the London Ambulance Service as part of a threemonth training at LSE. This proved to be handy as Ziqitza and London Ambulance Service entered into a tie-up in India for paramedic training. Mr Sacheti says: “They even offered us an ambulance, but we refused.”

They then studied the ambulance service in Hong Kong and a subscriptionbased service in South America, but junked the latter because it wouldn’t work in a system where people just couldn’t afford to pay. Finally, they decided to settle down on a ‘sliding scale’ model of payment. In effect, people that could pay would be charged higher, while those that couldn’t were subsidised. But all callers would be able to use the 1298 service regardless. The five-member management team decided to divide the calls into two categories, cardiac calls and basic calls. Says Mr Sacheti, “The cardiac calls require medical intervention. So an ambulance for a cardiac call requires a doctor, a ward boy and medical equipment.” The basic calls won’t require the bells and whistles that a cardiac ambulance requires.

Although their initial studies suggested that the service would be profitable at Rs 5,000 per call, Ziqitza priced its services at Rs 1,500 for a cardiac call and Rs 750 for a basic call for the first 20 km. Mr Sacheti says: “We have discovered that it’s a sustainable business model even at this price.” In a sense, the ambulances break-even, but the company has got four sponsors, Tata AIG, HP, SBI and Playwin that keep the corporate office running. Curiously, it’s been the more affluent bunch that haggles with the ambulance operators when it comes to payment, whereas several lower-income patients from areas like Dharavi have paid up to Rs 1,000 without any hesitation.

The 1298 service was formally launched in 2005 in Mumbai by the Maharashtra chief minister Vilasrao Deshmukh. Ziqitza scaled up their ambulances from one to ten, and established a network of another 10 ambulances and omnis. As Mr Sacheti says: “We needed to have an ambulance for anyone that wanted the service and we can’t refuse calls. So we need to have other ambulances that will take up the load.” But Ziqitza makes it a point not to outsource the cardiac calls. On average, the service gets nearly 40-50 calls a day. But the service suffered some initial pangs. According to Mr Sacheti, “We would let the doctor decide whether the patient should be subsidised or not, but we found that the doctors were actually overcharging the patients and keeping the difference.” Now, all calls are screened. If they’re from the government or BMC hospitals, the fee is immediately waived off or cut.

Recently, Acumen, a not-for-profit equity fund, invested $1.5 million in Ziqitza to aid its expansion from 10 to 70 cardiac ambulances in Mumbai alone. The 1298 service will make its debut in Kerala as well by December. Mr Sacheti says that merely providing the service won’t be enough, it has to be world-class. Hence, the next target — get the patient to the hospital within seven-nine minutes of the call.

That would, perhaps, be the Formula One of emergency healthcare.

Article Resource:
Author: Irshad Daftari is the Chief Editor in the The Economic Times, Mumbai and the article appeared in one of their successful columns on Entrepreneurship/Start-ups called "Starship Enterprise".

A Doctor’s Journey from Pain to entrepreneurship.

A doctor’s journey from pain to entrepreneurship

Dr Patil Uses Acupuncture To Cure His Migraine And Set Up A Flourishing Business

IT WAS 1966 and 26-year Ratnakant Patil had to leave his examination hall. A severe headache made his final-year MBBS exam at the Kasturba Medical College in Mangalore a nightmare. He had a severe migraine attack and was vomiting. His sympathetic professors, who had been treating him over the previous few years, let him wait out this bout at the back of the hall. When he felt better a few hours later, they let him finish his paper in an empty hall.

Little did they realise that a couple of decades later, this experience would push Dr Patil to start his own business of curing people, just with a set of pins and needles.

Stress had kick-started the migraine, and for a while, the young Patil thought it was incurable. He had never met a doctor who could help him. Then, he decided to help himself. “Allopathy has no cure for these migraines. They can only give you pain killers,” says Dr Patil, who today heads a busy acupuncture clinic in Bangalore specialising in cures for pains and aches.


In the early seventies, while working in Denmark as a gynaecologist, he began to read about the benefits of acupuncture. He didn’t really believe in the benefits of some pinsand-needles therapy. However, all this changed when he and his fellow doctors at the Copenhagen City Hospital began to lose patients to the Swedish and Norwegian hospitals, which offered acupuncture. He went up to the hospital administration and suggested that they allow him to study the technique and bring these skills to the hospital to help retain patients.

Today, the soft-spoken doctor admits that his primary reason was to find a cure for his own affliction. Since he opened his own clinic in 1982, he has had the satisfaction of helping several victims of migraine, among other chronic aches and pains. He does acupuncture for pain management and practices from Kampo Clinic on Cunningham Road, in Bangalore. The word ‘kampo’ means ‘healing’ in Japanese.

He first worked from a rented room from the same location. As soon as he opened his doors, he says he saw an immediate surge of patients, who wanted to benefit from this ancient Chinese treatment.

“All these people had read about acupuncture and were readily willing to try it out,” he says. He used to treat 10 to 15 patients a day and charged them a fee of Rs 50 per sitting. Soon, he had to build his own clinic and hike the fee to up to Rs 75 per sitting. Interestingly, the cost of the treatment was Rs 100 until 2003. In the past five years, his fee has climbed five-fold and he still doesn’t treat more than 15 patients a day.

Over the years, Dr Patil has added to the services that he offers. These include multiple-Chinese needle treatment, the Japanese single-needle Royodarku method and Depo-acupuncture, where a needle stays in the patient for three days. He has combined these with modern machinery to offer sono-puncture-ultra sonic sound waves.

His latest addition came two years ago in the form of his Sonotron machine. This machine emits radio frequency waves and is described as a “totally non-invasive alternative medical therapy for patients with chronic and acute pain in their joints, and other soft tissues, without needing to use drugs.”

Article Resource:
Author: Jacob Cherian is the Chief Editor in the The Economic Times, Mumbai and the article appeared in one of their successful columns on Entrepreneurship/Start-ups called "Starship Enterprise".