The Art & Science Of Successful Entrepreneurship

Becoming a successful entrepreneur is not about destiny, it is a deliberate process which has its set of rules. The art and science of being a successful entrepreneur is about following established processes, putting in pace systems and having a strategy in place.

At a recent panel discussion on ‘Entrepreneurship 101’, Aman Abbas, Co-Founder, Commwiser, Kriti Sharma, Senior Commercial Lawyer, Seema Jhingan, Partner Lexcounsel, Sushma Gaikwad, Director, Ice Global & Wizcraft MIME, all successful entrepreneurs in their own way, shared the science behind becoming successful entrepreneurs.

The session was moderated by Reema Sanghvi, Managing Director, Maximus Mice & Media Solutions.

Sushama Gaikwad spoke about the need to have clarity of vision and create more intrapreneurs at work, “Entrepreneurs need to have clarity about their vision. They need to ask themselves why this business is important, and we must remember that  in the end, it is the vision that drives the enterprise.”  

Gaikwad also urged start-up owners to give serious thought to creating more intrapreneurs in order to make the organisation truly successful. “We should not employ talent that we guide, instead, we need to employ talent that guides us and inspires us. Our job as entrepreneurs is to create more entrepreneurs. Growth of an organisation is finally determined by the quality of intrapreneurs we create within the organisation,” added Gaikwad.

Seemav Jhingan, Partner Lexcounsel, spoke about the legal aspects that start-up owners often tend to overlook. “There are a number of must-haves as far as the legal aspects of startups are concerned. Start-up owners need to look at the legal structure and the legislative paradigms they will be working in before going ahead with the venture. Most of the startup’s focus very little on the registrations and licensing processes which should be a top priority.”

Kriti Sharma, Senior Commercial Lawyer spoke about the need to be investor ready. “You have to make sure that your paperwork is in place and your compliances are in place to be investor ready.”

“Culture of an organisation is very important. Holding people accountable through systematic processes is the key to building a successful venture. I think entrepreneurs need to focus on creating the right culture in the organisation, “ stated Aman Abbas, Co-Founder, Commwiser.