Beat the Odds – an interactive discussion forum for young entrepreneurs.....
May 30th, 2009: YourStory.in, the largest online media platform for first generation Indian entrepreneurs, organized the Entrepreneur Forum Summer 09 at Nehru Centre, Worli, Mumbai on 29th May 2009 in association with MICA EDC.
Over 200 entrepreneurs from across India converged at the Nehru Centre in Mumbai on Friday afternoon to share their experiences on beating the downturn while also seeking worldly advice from seasoned VC professionals and industry experts.
Nikhil Khatau advised the audience to “continue promoting their brands while right-sizing teams”, adding that “most companies fail not during downturns but during economic revivals as they tend to excessively cut back on resources during downcycles as a result that they stumble when demand revives.” His views resonated with other speakers present at the conclave. “Downturns are great opportunities to invest and innovate,” said Rahul Patwardhan, adding that “perseverance, passion and pragmatism are three key essential to tide over recessionary times.”
Cyrus Driver having played both an entrepreneur and a financial investor role in his life, had some grounded advice to offer to young entrepreneurs. “Avoid loose diversification, stick to your core competencies, get a good CFO and project conservative growth if you are looking for raising funds”, advised Cyrus candidly.
Sanjay Chakrabarti, partner with the global audit, tax and consulting form Ernst & Young, shared the insights of a recent E&Y survey on the impacts of an economic downturn on businesses in India which revealed that “74% of businesses surveyed were facing minimal limited impact by the downturn” – a much cheered fact by the enthusiastic audience at the forum.
Shradha Sharma, Founder, YourStory said, “If we are able to provide entrepreneurs and start ups with good networking ground then we would say that the effort has been a success. YourStory will continue to organize such forums from now onwards and with this event we kick-start the process.”
YourStory.in is the largest online media platform for first generation Indian entrepreneurs providing them much needed visibility in order to promote their businesses while also giving them meaningful networking, discussion and trade opportunities. Launched in Oct 2008, YourStory.in aims at providing SME and Startup entrepreneurs a platform to collaborate and exchange ideas though their online media platform. YourStory aims to foster the 'spirit of entrepreneurship' amongst readers by sharing with them the various journeys of people who have dared to walk the different path.