Essentials Of Entrepreneurship

This Teacher’s day, we at ABV-IIITM Gwalior campus had a man who was himself a student some years back, but now  due to his extraordinary achievements was fit enough to teach young minds. We are talking about the co-founder VGYAN-BOT, Mr. Siddharth Sood.  Mr. Siddharth had an interactive session with all  the  I year Students and taught the do’s and dont’s of entrepreneurship.Team Uthaan  had an interview with Siddhath...

MR. SIDDHARTH SOOD

Ques.   Having a strong financial background is necessary for a startup?

ANS    “It is helpful to have it, it makes the establishment easier. It catalyses the whole setup of your business model. But it’s not a grave necessity.  Actually it’s not only about money, you also have to look for the correct market to boost your business. Any amount  of money will fail to provide returns if not invested at right time and place. Even i had some problems when to begin with my model. Schools were just not ready to accept the bot culture. 

Even if you don’t have enough bucks in your pocket, your creativity and idea can assist you launching your venture. You just have to wait for your golden moment and hit the iron while it is hot”.

Ques. What fuelled you into the race of entrepreneurship “Need for money” or “love for  technology” ?

ANS   “Love for robotics, I even kicked a handsome Salary offer.”

THE INTERVIEW

Ques. What is more important for young budding entrepreneurs, “Development of ideas or polishing their skills”?

ANS.  “ There are different areas of Entrepreneurship, Some provide a service which is already being provided but in a different way, some provide things which never have been heard of before.  So it basically depends upon the type of Entrepreneurship you indulge in. I personally am more interested in development and marketing of new technologies but there are companies which just sell something which is being required by the public at that moment of time.  Some business models are just pawn shops, you tell them your needs and they will provide you assistance in exchange of a handsome amount of money.  The idea of business for many is money driven, it must be the establishment of a company which does a particular work. Get your company name synonymous to that particular task.”

Ques.   Creativity or Money Minded??  What kind of people excel in the field of entrepreneurship???

ANS   “ A perfect blend of both. Even I have a partner who deals with all the monetary issues and i am the creative head of the company.  That does not means that my partner has no taste in creativity or  I don’t have a concern for monetary issues.”

Ques.  Are entrepreneurs made or born?

ANS     “Some of them  are born, but majority are made.  You might  take birth with a taste  in creativity but you must polish yourself in order to be the best.   You will have to study the markets, the needs, the demands and accordingly adjust your strategies.”