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To succeed in the entepreneurship, entrepreneurs should be gutsy and smart in terms of running the business and taking decisions, say experts.
They also added that timing and speed are important factors which could lead the entrepreneurs to success.
Speaking at TieCON 2015 Ronnie Screwvala, Founder, UTV Group, Unilazer Ventures and Swades Foundation said, "If you are gutsy and smart, you will get through in life and that's what progress is all about".
He said entrepreneurs should take risk and should not get carried away with failures.
Screwvala gave examples from his life including how he failed during his first year in college, which took away his arrogance and led him to pursue his interest and hobby, theatre, and finally led him to found UTV and how all the first five movies of UTV failed, and the lessons he learnt.
"Our problem is we don't think big in India," said Screwvala, who said culture is another key for a start-up.
In his opening remarks Laksmi Narayanan, member of TiE Global Board of Trustees and Vice Chairman, Cognizant Technology Solutions said that courage is import thing for an entrepreneur. Idea, team, funding and selling concept are important, but their is one more important factor need for success which is timing.
"There was a compelling need, there was problem that had to be solved and the time was right to solve it and the entrepreneur was successful", he said.
Quoting serial entrepreneur and investor Will Gross study on start-ups, he said that timing came up on top of the item over idea and funding for successful entrepreneurs.
"Some of the companies failed because the entrepreneur came up with the idea at an inappropriate time but the same idea worked out in some other times," said Narayanan. The period of recession after 2008 helped entrepreneurs bring out new ideas.
"Timing is important in today's context too. It is not about getting the ideas but looking at the right problem to solve and working on is important," he said.
Mahesh Murthy, Venture Capitalist and founding partner of Seedfund has said that the future would bring in new opportunities which the entrepreneurs could look at. The nuclear families would further get smaller and people would start working from wherever they are, which would change the entire paradigm.
During the current TieCON2015 Chennai-based Fresh Desk was selected to be a potential billion dollar company.
