Saurabh Kaushik, India’s premier business coach in association with ASSOCHAM (The Associated Chambers of Commerce and Industry of India) on Thursday, addressed the youth of our nation with an objective to inspire them towards ‘Aatmanirbhar Bharat’ an initiative of making India a self – reliant nation. He said, India is a land of billion opportunities and the youth of our nation can drive the growth exponentially by doing what they truly believe in. The event was a part of a capacity building series initiated by ASSOCHAM to impart the skills, values, mindset and inspiration among our youths.
He mentioned that Covid19 has made a major impact on Indian society and mindset of people and now entrepreneurship will not be an option but an obligation. During the interaction he revealed how young startups, students and business owners can grow their businesses and lives exponentially just by focusing on a few right things like ‘Serving one customer and solving one problem’ to start with.
“Be a servant of your craft and the Master of your Destiny”
Youth should not worry about failures and start up as soon as possible. There are facts and analytics that say that 90% of startups fail in the first 5 years, which is fine but understand doing business is something which you haven’t done before so failure is bound to happen. The key is to put your heart and soul in what you do and believe in yourself with sheer perseverance.
“No Business challenge is greater than one man’s Courage”
Startup with one solution, solving one problem for just one kind of persona. Learn as much as possible from your first few clients, ask them to review your services, take their feedback, and impress them every time. The biggest trap for most of the young entrepreneurs are MONEY and INVESTORS.
Focus on giving value to your client and then ask for MONEY, your first few clients will help you to build your future, use them to better your products or services rather than churning out MONEY. Try your level best to convert your first few customers into raving fans.
Instead of seeking for INVESTORS, better is to work on your product and get your first 1000 customers and try to build your startup organically using the INVESTORS for the business scalability or expansion.
“Ideas without execution are like birds without wings”
Don’t get attached with your ideas too much, there are many in the market. Youth must understand that idea is just the first step which needs the right EXECUTION followed by the strong CORE TEAM.
CORE TEAM is the most important but underrated thing in the startup journey. You can’t do business alone you would be needing your team around you and building a CORE TEAM is not an easy task. Be ready to fail at least twice or more in order to get the one right CORE TEAM MEMBER, but ones you get them onboard the journey will be exciting, fruitful and full of breakthroughs.
Aatmanirbhar Bharat – Vocal of Local Benefit for Country
The benefits of localization at the country level are multifold. First, it helps to boost the economy and the lives of people. India has the world’s largest population of youth at an employable age. This makes for a great opportunity for the country to supply a workforce to its industries.
Employment puts spending power into the hands of people, which in turn can help the economy. Another benefit comes from the development that occurs in an area/region with the setting up of operations. Localisation enables knowledge sharing and tech transfer with other countries, lending the home country access to the latest global technologies too. Overall, localisation assists in raising the standards of the lives in the country/ area.
The growth in localisation of manufacturing not only allows a country to be self-reliant but also position itself as a manufacturing hub for other countries. That said, localisation facilitates a nation to build on its export capabilities and strengthen other sources of revenue.