Issuu on Google+


PLUNGE

Four

days of innovation, the spirit of

business and most of all, fun-this is the perfect way to describe Concepto.exe 2.0. Organised by the Entrepreneurship Cell of IMT-Ghaziabad between the 6th and 9th of August, the event saw each of the seven 1st year sections and one each from the executive batch and Vishit Ventures, a campus organisation, run a business on campus for four days. These four days saw a comprehensive display of managerial acumen and know-how where the teams converted the portals of an educational institute into a real world business battlefield and true to its goal of fostering entrepreneurship at various levels, E-Cell of IMT Ghaziabad successfully created a platform to IMT students to compete and learn. Concepto is an annual event at IMT Ghaziabad and it has been running successfully since its inception. One of the hallmarks of this event is that it is among the first events on campus for the new batch of students and it is a battle between sections. This serves as an icebreaker and also helps in fostering unity within sections. The rules of this event are simple- each team can have upto ten promoters who contribute Rs 100 each while the others can contribute Rs 50 to become stakeholders. The money they raise is used to fund the business that they run for four days. The revenue they generate is for them and after the event

September 2012

they are judged on the basis of various criteria like their business plan, marketing, profits, sustainability etc. This year it was held between the 6th to the 9th of August and the businesses were: An online shopping service catering to IMT hostels Style-Q: A service in which hair and beauty treatments were offered in-campus. A room cleaning service. A poster printing service An internet radio station for IMT A CV building and promotional service A car-cum-motorcycle cleaning service. A professional photography stall A gaming and T-shirt designing stall. The entire event was a great learning experience for the students. They got a taste of the challenges encountered while running an actual business. As seen above, the businesses covered a huge spectrum and the efforts that went into fund raising, promoting, advertising and also the finance handling were immense. Many students had their first taste in customer handling. They also actively sought feedback from their customers and constantly improved their strategy and service over the course of the four days.


PLUNGE

Third day into the orientation week of our batch 2011-2013, we were addressed by three esteemed entrepreneurs. Mr. Aseem Arora – MD, Paridhy Staffing & Consulting Pvt Ltd is a Post Graduate in business management from IMT. In 1994, he co-promoted two software companies in India and USA. Paridhy Staffing & Consulting is his third entrepreneurial venture. Mr. Rajiv Mathur – Director, Springboard, has 20 years of experience in advertising, marketing and sales with companies like Lintas, UB Group and Dabur. In Springboard, he is in charge of marketing and media operations. Mr. Pankaj Agarwal – CEO, Click India Infomedia Pvt Ltd, is a young entrepreneur and a passout of IIM Indore. His website helps many across India to sell their wares or find whatever exclusive service they may be looking for. “Entrepreneurship is like sex”, Mr.Pankaj Agarwal gave a whacky association to describe what it is like being an entrepreneur. You have to do it to feel it and you will have your own level of satisfaction. According to him, a regular job is exciting but the satisfaction one gets from creating something from the scratch is unprecedented. Entrepreneurship is like an army, you define your territory and you define your competitors

September 2012

with the products and services you offer. Various pros and cons of entrepreneurship were discussed. The notion of having “Independence in work” and having more time with your family or for yourself is definitely of great appeal. But it isn't exactly a reality. As an entrepreneur and small business owner, you will always have to answer to someone: be it your customers or your suppliers. You will also need to work with suppliers for inventory and banks for capital, and your reliance upon them certainly factors into your ability to run your business wholly independently. The major advantage of entrepreneurship is its high capacity for risk, and there is a lot of adventure. There will undoubtedly be fewer benefits, especially when considering that your business will be just starting off, the work schedule of an entrepreneur is never predictable; an emergency can come up in a matter of a second and late hours will have to be put in, but being self-employed removes the ceiling, and the hope of doubling your income next year is enough to keep you going through the leanest of times. On being asked by a student that when is it that you are certain to start a venture of your own, Mr.Arora replied that you just know when you should start but it should be backed by proper planning.


PLUNGE

In our lives, few stories of sheer grit and determination leave us inspired! Today, we look at this story of a Young Turk who has beaten all odds to achieve his dreams. We bring you the incredible tale of Mr. Nirmal Kumar's struggle and eventual success. Nirmal Kumar was born in a small village in Bihar. Back then his village was untouched by development. There was no electricity, telephone lines or hospitals. Nirmal's high school was three kilometres away from his village, which he covered on foot with a back affected by polio. Today, 28-year-old Nirmal, an IIM Ahmadabad graduate, is the CEO of Nirmal Group which owns G Auto, a company he founded a year ago in Ahmedabad. In its first year of operation, his company earned revenue of Rs 1.75 crore and made a net profit of Rs 20 lakhs. "When you are born in a place with little means, you learn to rely on yourself for everything. You become a fighter," he shares. When Nirmal was struck by polio at the age of three -- he could not be treated in time as there were no hospitals in his village, only 'quacks'. But it never stopped him from playing football in school or taking the cows through the rice fields. With unsteady fingers, Nirmal learnt how to hold the pencil, firm his grip, and read and write. In the evenings, he would clean up the lantern shade with a dry piece of cloth, oil the wicker, light it, and in its glow dream of a better life. "Lagan bahut thi." ('I was very dedicated.') His bitter experience with a rash auto driver and incapability to fight back at that time made him decide to improve the system and lack of trust that people have in auto rickshaw drivers and the fares that they charge, Kumar came up with

September 2012

anytime rickshaw (ATR) concept. Make a simple call, and a G-Auto — with features such as an array of newspapers and magazines, telephones and trash bins— will be there for you in a jiffy .Nirmal Kumar, who is the director of Nirmal foundation said, "We are also planning to include e-recharge for mobile phones, battery chargers and internet facilities among the services that are provided in the auto." is planning to put a system in place to ensure that the passengers are not cheated and they have a comfortable journey without compromising the income of the rickshaw drivers. The initiative started taking shape in June 2008. Since then, many auto drivers have joined G Autos as a member. "We have around 1,000 members," Kumar said. Talking about how he plans to ensure that passengers are not cheated or bullied by G-Auto drivers, Kumar said, "The passengers can call and contact us any time. All our auto rickshaws will have our number on it. Passengers are welcome to call us if they feel they have been cheated." They have complete details of our member drivers. As a member of the foundation, a driver should drive his own auto rickshaw, should have a license, a ration card, an ID card and a badge. Besides a safe and comfortable ride for the passengers, the foundation has also made arrangements for the welfare of its members (the drivers). A member of G Auto gets a bank account with the State Bank of India (SBI), accident insurance, required arrangements for their children's education and even a portion of the earnings of the foundation. They conduct training sessions on good manners, hospitality, and spoken English. Talking about the benefits of be-


Plunge Draft