Focus on problems, not money: Ambani's 5 tips for budding entrepreneurs

If you focus on financial results the chances are you wouldn''t become great, he said

Counselling a five-point tip-sheet for budding entrepreneurs and potential start-up founders, Reliance Industries Chairman Mukesh Ambani on Wednesday said it is essential to find a passion for solving a problem without focusing primarily on financial returns.

"First, you have to figure out what you want to do. As an entrepreneur, it is important to find a passion, a problem to solve, it is not finding the solution that is so important as finding a problem to solve," Ambani said at an interactive session at the Nasscom India Leadership Forum 2017 here.

"If you focus on financial results the chances are you would not become great and solve a problem," he said.

 

Exhorting entrepreneurs never to get disheartened by failure, he said they should regard themselves as custodians of investors' money.

"Treat investor money even more carefully than your own," he said.

Moreover, align your team to your passion. An entrepreneur should always be positive, be an optimist," he added.