Entrepreneurship is not something new, it has been followed religiously since the beginning of the era. It was just not titled as something as a jargon. Business usually can change the world and our daily lives too. They have their products, and their products have benefits and consequences, that lead to a certain transformation in our lives. And then, we become that product, we wear it, we embed it in our habits, we drive it, we drink it, we watch it, we consume it, we love and hate it.
Starting up somewhere, something of your own needs passion and devotion towards a mission that nobody has ever touched. They take financial probabilities on themselves and a team that they have built, interviewing people they don’t know, and try to make a part of their team, finding diamonds in raw garbage.
I don’t know how great companies are built and nurtured over a period of time, as I am twenty four years old. Frankly I do know a bit, as I am learning and half knowledge is dangerous, so I actually can’t say anything.
I was looking for my answers for a long time
And then I recalled a professional in my network who actually has been an entrepreneur for many decades and has been a part of the Pharmaceutical industry as well as IT industry for a very long time. He is Arunn Puuri, a simple science graduate from Guru Nanak Dev University, Amritsar, Punjab. He has worked as a General Manager with a leading pharmaceutical company for a few years. He comes from a very humble family background. His father was a central government employee and died very young leaving a large family that his mother took over and raised for becoming the entrepreneur he wanted to be.
So here is a line of queries that I have prepared for him. I hope you guys find this helpful.
What is the value of education?
Education is enlightenment. It gives you the wisdom to evaluate knowledge. It definitely adds value to the power.
Which is a better option to go for freshers; to start as an entrepreneur, or begin as an employee?
Entrepreneurship is not an easy beginning but I personally feel it’s always better to start as an entrepreneur. It’s absolutely important to work hard breaking the comfort zone to learn more about the value of achievements. However, most of the people choose the easy way to live hence choose to compromise rather than working hard for a few years and live the life of choices later.
What was the hardest but also pleasing part of your journey?
Initial years are the hardest in any business. Entrepreneurship is the choice to make between living 40 years of compromise and 4 years of hard work and live the rest of the life gracefully.
How to build a great team?
Networking is the key. Building relationships is more important than filling in the crowd. Team is nothing but ‘together everyone achieves maximum’. Treat them all as your allies and they will work with all their hearts.
Why does a company’s vision matter?
It’s like a roadmap for any organisation. Vision is more like defining the goals and targets. Without the vision the company stands directionless.
What are your views about the young generation?
Young generation is very smart, very intelligent, very adaptive, very quick to learn and very open to connect with. They use head over heart. Perhaps that is what is more important now. There’s a lot more competition now, so they know what can keep them apart from others.
Millennial entrepreneurs vs Baby Boomers, which generation is/was better, and why?
Every generation is doing great. Baby Boomers gave the pathway to Millenials and they are doing better using the technology in their support.
What is the meaning of success for you?
Success is a journey, not a destination. Keep setting goals, and after achieving them set bigger goals start the journey to achieve that.
Would it be any different for you if technology would not exist today?
Technology didn’t make us. We made it. And we can’t allow it to rule on us. If that happens, then the day is not far when civilisations will collapse. We should not be slaves of technology. We should only make best use of it for the betterment of humanity.
Has there been a major change in the pharma industry in the last 50 years?
Every industry has seen the changes through challenges. Change is inevitable. There have been huge changes in the pharmaceutical industry as well. In terms of technology, in terms of development, in terms of creating the markets, in terms of reaching the end user, and even for that matter in terms of making it affordable to the common man, there have been great changes for the better.
What are the pros and cons of being a part of the pharma industry?
I only see the opportunity in every industry. Had I not been in the pharma industry, I would have done it in whichever industry I would have been. People run businesses. Businesses don’t run people. I don’t see any cons anywhere. As Mr. Ratan Tata very rightly said, ‘Make a decision and then prove it right,’ I totally believe in that.
What advice would you like to give to the millennials that they should do and things that they should never do?
Focus and determination are the two things that are most important. If you start something, then stay focused and determined to make it to the finish line. Rome was not built overnight. So they need to understand that being hasty won’t lead them anywhere. Love what you do and you will never get frustrated.
How can anybody have a great startup?
It’s always an idea to begin with, but then it’s imperative to implement step by step. It’s absolutely important to understand the long term plan and viability. Execution of the plan is vital.
As a lot of startups have been a part of our life, what do you think about raising money through investors and not making any profit?
It’s better to act wise by not trying to over analyse. Too much analysis leads to paralysis. Invest your time in such a way that you leverage on it to get better yields. Raising huge funds without a proper plan can’t fetch huge profits. Calling off a project is even worse. So better start slow and focus on growing people around you. You will automatically grow.
Which is the future business platform or industry that one should consider being a part of?
I can only talk about myself. I have always been of the view that one should be a part of any futuristic business. I started with IT company in late 90s when IT had just begun. I am associated with e-commerce industry now knowing that it’s the future. As Bill Gates also says, and I can also clearly see, that all the businesses that are not online are soon going to be history. So it’s always better to follow the path shown by the legends.
What would you do with unlimited resources?
If the sources are available in abundance, then I think it’s not an amazing base to establish a business. I personally think it’s going to make someone fall prey to failures more often than those who have limited resources.
Money v/s passion, what do you like more?
Follow your passion, money becomes a bi-product. In the marathon of life, if you become a better person, it’s more important than making money. Identify your ‘why’ and work for that. Money will automatically follow.
Wow, After asking these questions, I surely got a perspective on the business scheme of things.
I hope you guys find his answers valuable and might be able to refer to them in your future life. I would like to acknowledge Mr. Arunn Puuri and thank him for sharing his wisdom from his industrious entrepreneurial life.
Honestly, we all are capable of doing great things in this world, and can change perspectives if we communicate effectively and take risks. Starting and running a business requires somebody who is a risk taker, and loves challenges, dares to do these things and you will find a better version of yourself.
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