Shereen Bhan in TechSparks grand finale: "Entrepreneurs have the ability to change the face of India"

"Power of specialization pays dividends"

When Shereen Bhan took the stage to host the grand finale, there was an expectant air of the final 5 to be announced and all the entrepreneurs who presented the pitches were fighting to hold their nerves. Describing Young Turks as her oasis of hope, Shereen went on to say that "more than the government or public policy it is the entrepreneurs who are going to change the face of India".Describing her interaction with entrepreneurs, the ever-charming Shereen told the awed audience that she met people who are not apologetic about their background and where they come from. She added: "Many people believe that it is difficult to be first-time entrepreneur, but this is the best time to be entrepreneur." One of the enablers is availability of plenty of funds, she felt: "If you have a bankable idea, you have lot of people are willing to put their money where their mouth is."

Mindset change is another reason for entrepreneurship to stay in India: "Our ability to withstand failure and our families' ability to deal with the stigma of failure is a lot better." She also explained that she met entrepreneurs who are active in different areas like education, microfinance and financial inclusion, adding "if someone is going to bridge the socioeconomic deficit we witness today, it is going to be the Indian entrepreneur."

As regards her advice borne out of her interaction with over 800 entrepreneurs through Young Turks, she said: "it is important to do business with your heart in it and be passionate about it." She added that it is necessary to have a dream and "you need to find your centre. You need to know who you are, what your centre is and act from there." From her perspective, she feels that it is important find a niche area. The power of specialization has its own dividends. Shereen towed Guy Kawasaki theme of make meaning stating, "your proposition should not be primarily based on cost." Especially small entrepreneurs cannot have a long run if the proposition is based on cost. "It is important to have a differentiator" was another piece of advice for entrepreneurs. This is because the market is highly commoditized. She asked entrepreneurs to hold their impulse of buying Ferraris out of profits instead plough back profits into business to earn more dividends. She also emphasized the need to stay grounded and be wedded to your values, especially when you taste success.