7 September 2018
MATS Institute of Management and Entrepreneurship (MIME) has been striving to provide curriculum-based inputs from practitioners as a part of industry-academia interface. In this connection, MIME organized a session on “My Journey in Entrepreneurship” on 7 September 2018.
Mr. Jia Jain, Founder – Insignia group, an alumnus of MIME and a mentor of young entrepreneurs was the facilitator of the session. Tracing his journey he highlighted the initial hurdles encountered within himself in the form of conflict of whether to take up a job or to embark on an entrepreneurial journey. Speaking further on next three stages of the journey, the speaker elaborated the difficulty in choosing the sphere of business in which a person intends to start with. In this connection, he recalled the support, encouragement, and insights provided by his mentor Dr. Chenraj Roychand, Chairman of Jain Group of Institutions.
The speaker conducted a simple but effective market survey and based on survey inputs and insightful interactions with the related people, he decided to start a vegetarian restaurant in the southern part of Bengaluru. He recalled with gratitude the support and encouragement rendered by his classmate and friend, Mr.Abdul G Sait founder of Basket Options Pvt. Limited especially in selecting the name for his venture. The name “1947” which emerged as the combined introspection, signifies the unity demonstrated by India during its freedom struggle which in turn is reflected in not distinguishing the north and south cuisines. Because of the untiring efforts and unflinching belief manifesting in the form of patience and perseverance, the 1947 Restaurant which was started in later part of 2008 could breakeven and turn around by mid-2009.
Patience, perseverance, speed, openness to learning, a judicious combination of EQ and IQ, clarity about the basic concepts, to be strong with numbers, and the ability to read the customers were highlighted as the qualities needed by an entrepreneur. The speaker elaborated the role played by each of these qualities in his entrepreneurial journey. In conclusion, the speaker provided a vivid picture of the future likely scenarios and opportunities in the food sector.
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