Media Release
Dubai, Sep 7: Kanara Entrepreneurs Ltd (KEL) Dubai organized a session on 'Start-up - Idea to Execution' recently with author and senior management consultant Walter Vieira as resource person. The session provided a unique platform for entrepreneurs to participate and interact and learn more on start-ups.
Addressing the gathering Vieira said, “We can broadly classify ourselves into one of the two categories ‘Achievers or Sustainers’. Achievers are passionate, highly motivated individuals who are hell bent on achieving their objectives, never satisfied with normal goals in life. Sustainers are those who just want to be in their jobs and keep their supervisors happy. A successful entrepreneur is an ‘Achiever’.”
“All of us get great ideas. But these are not of much value if they are not executed to perfection. It is very common to hear someone come to you and say ‘I have a great idea’, but I cannot share it as others may replicate it. If so, how will you execute it? Ideas which are easy to replicate are not necessarily great. You need to have an idea that solves a unique problem and have a clear methodology for execution that will ultimately impact the end customer in a unique manner than what is offered by your competitor,” he added.
“All successful entrepreneurs give priority to three key elements - Systems (Technology)/Process, human resources and customers. If you have the best of technology to deliver a unique solution with a team that blends your skills to build, sell and support your customers, then you are more likely to grow and expand to build a sustainable business,” said Vieira.
Three challenges and guidelines for successful enterprise
According to Vieira, the only reason for existence of a company is to create and retain its customers. He stated the three challenges faced by all companies as first raised by Arthur Felton. He said, “First, there is a need, but there is no market. We are enthused when we produce a new product without bothering to find out if there is really a market for it. Second, there is a market but there is no customer. In developing countries like India, there is a potential market for several products but need government support to succeed. As usual, the bureaucrats never look at these products unless they are benefitted from it. And the third, there is a customer but there is no sales man. For example, Krishna stoves had lot of customers in the rural areas, but were sold only in urban areas for lack of sales distribution in the rural areas.”
Vieira also provided four guidelines to create a successful enterprise. He said, “First, convert the power of your idea to create several jobs, wealth for yourself and your team and prosperity for the country. Second, always express your idea in a very simple sentence ‘Elevator Pitch’. If you are not able to simplify your idea to others, you will not be able to execute it successfully. Third, always convey what is the differentiation of your value proposition to that of your competition. And the fourth, your team must always compliment your skills for you to run a successful business.”
“Your business must always be in the Sea of Galilee and not in the Dead Sea,” he concluded.
The session was followed by Q&A.
Albert Rodrigues, president of KEL, introduced the speaker to the audience. Ivan Fernandes proposed the vote of thanks.