Friday, December 19, 2008

Entrepreneurship: AIM really made difference

I always thought that entrepreneurship is as difficult as its spelling. In fact before joining MBA program at AIM, I tried my mettle in this field. After graduation in Computer Engineering, me and my friends tried to set up a software development firm for Indian SMEs. We had enthusiasm, energy and talent but one thing was missing and that was entrepreneurial business vision. We tried to make it fly but it died with its idea. Sometimes failure breeds seeds for future success. I decided to pursue MBA to help me understand business better.
DE classes reignited my passion for entrepreneurship . Professor asked us to search for Big Idea and by that time I was intrigued by finance subjects. I studied realty market in India and from my experience also, I found that there are 80% of realty developers have small scale businesses and apply traditional methods when making decisions. Hence, I thought of tapping this market by providing sophisticated financial techniques like valuations etc. to help them make investment decisions.
Competitors: There are boutique firms for investment management but very less focusing on realty consulting. Providing service to small & mid-size realty developer firms, can also provide access to the market of foreign investments which are looking for consulting for investment in properties. Hence crating a reputation would be the most important for our firm.
I never shared my idea except DE & FM profs because I was not sure weather it is feasible or not. After coming to India, I visited one boutique financial advisory firm and discussed their business concept. I found it interesting but management was not organized and less focused. Therefore I think there is lot of opportunity of expanding in niche market of financial services. This would also help me to satisfy my desire to work in financial sector as well as create jobs instead finding one.
While doing DE assignment of venture formation, I explored my pedagogy skills. We conducted lecture of "FM Made Easy" and it gave me a good experience of understanding student's behavior. Hence, along with managing boutique realty financial consulting firm, I am also thinking about conducting lectures and electives at business schools in Pune & Mumbai in India where these schools strive of availability of professors.
It is not my own interest but after coming to India, I encouraged my uncle to start a small but specialized food and snacks center. He has access to the area surrounded by engineering college and hence I suggested him to start a food corner targeted for college students. He agreed to enter that market if I draw a business plan for him. I am currently working on it and while doing this I always think about the difference that AIM made in me...