Wednesday, October 15, 2008

Invitation for Second Small Scale Entrepreneur Success story contest

We invite you to encourage everyone to contribute to the second small scale entrepreneur success story contest.

Runner-up most inspirational story on small scale entrepreneur from student team from IMI Delhi

Success Story of a small entrepreneur
From AFTERSCHOOOL

We are extremely grateful to Kundan Kishore and Pooja Mishra for contributing an inspirational story on successful small scale entrepreneur. We are thankful to them for writing on small entrepreneurs. We hope that this will create a momentum for promotion of small scale entrepreneurs.
(in the language of Kundan and Pooja)
The success story is as under:



Authors of the essay
Kundan Kishore (Kundan.kishore@gmail.com)
Pooja Mishra (Pooja.imi@gmail.com)


(Students of PG Diploma in Human Resource Management)
International Management Institute, New Delhi

Contact Details
IMI, B-10, Qutub Institutional Area
New Delhi, 110016
Ph: +91 9871829483


A Brief Profile of the Entrepreneur




Name : Mr. Prakash Anthony

Company Name: Korcomptenz Inc.

Currently: Co-founder and Chief Operating Officer

Qualification:
1. Masters in Business Administration from International Management Institute, New Delhi
2. Bachelors in Chemical engineering from Anna University
3. Schooling: Don Bosco Matriculation Higher Secondary school

Previous work experience: Siemens, Square D Software, Mazzindia, Ramco in India and Satyam computers in USA for around 6 years.

Home town: Chennai, India


Introduction
“An entrepreneur is an innovator who seizes an opportunity, converts that opportunity into an idea, adds value through time, effort, money and skill, assumes risk and realizes the rewards of his or her efforts”
Kuratko and Hodgetts (1998)

Entrepreneurship is a way of thinking, reasoning, and acting that is opportunity obsessed, holistic in approach, and leadership balanced. An entrepreneur is a vision-driven individual who assumes significant personal and financial risk to start or expand a business. It is a process of creating value by bringing together a unique package of resources to exploit an opportunity through innovation, creativity and hard work without regard for the resources currently controlled. In a nut shell entrepreneurship is an idea whose time has come.
Following are the characteristic of an entrepreneur:
v Knack to identify the opportunity
v Core competencies
v Innate talent
v Innovation
v Ideas leading to timely business development
v Willingness to work hard
v Positive orientation
v Adventurous / Risk taking ability
v Capability to network
If we combine all these characteristics into one we will get a dynamic personality like Mr. Prakash Anthony who has not only followed his dream and founded Korcomptenz but is also passionately indulged in social activities.
Making of an entrepreneur; straight from the horse’s mouth


We are very fortunate that we got an opportunity to have a chat with Mr. Anthony. An excerpt from his interview:

“I hailed from a lower middle class family from Chennai and my parents spent their whole life and their savings ensuring that they give us the best education. I and my siblings went to the best schools in Chennai which is Don Bosco Matriculation Higher Secondary school. I completed my schooling and came out with flying colours in the 12th standard examination including a 200/200 in Mathematics.

I joined subsequently my Chemical Engineering in Anna University, Chennai and passed out in 1988. After passing out I worked in Chennai and New Delhi. I studied my part-time 3 year PGPM course (1990-93) course in International Management Institute (IMI), New Delhi. I worked in Siemens, Square D Software, Mazzindia, Ramco before moving to USA. In USA I worked for Satyam computers for around 6 years before founding this company Korcomptenz.

Today we have operations in USA and India and are in the process of branching out in Europe and Middle East. We are around 150 people today and our plan is to be around 500 by 2010.

We also understand our responsibility towards society and carry out various social service activities. All the employees at Korcomptenz have a great passion for helping in this cause.

As he believes the greatest reward in becoming an entrepreneur is not the amount of money that you earn, it is about the scope that you get to work for the betterment for the society.”




About the entrepreneur

Prakash Anthony is the Co-founder and Chief Operating Officer (COO) of Korcomptenz and has close to 18 years of impressive credentials in the areas of operations, sales and marketing, relationship management and project management in the Information Technology Industry. He has credible experience in building early stage businesses and setting up start-up ventures and nurturing them to great heights.
A graduate in Chemical engineering from Anna University and with a Masters in Business Administration qualification from International Management Institute, New Delhi Prakash has worked with large and renowned companies such as Mazzoni India, Siemens, and Satyam before co-founding Korcomptenz. Prakash in his past illustrious career has been responsible for the growth and leadership of the Manufacturing Practice of one of the Top Indian Big 5 Organizations.Prakash has been instrumental in initiating, fortifying and implementing multi-million engagements for Fortune 500 companies like Philips, Gillette, Saint Gobain, PPG Industries, BASF etc in the areas of Offshore Outsourcing. He has initiated and grown several offshore development centers for Fortune 500 companies in Information technology services as well as been responsible for the growth of SAP business in India in the mid 90’s.His vision is to propel Korcomptenz into the big league of Global Service providers in the IT and ITES space by initiating several new initiatives like Quality certifications, Enterprise Solutions Practice and Knowledge Process Outsourcing.
Along the way, Prakash has also learnt the value of taking time to motivate and inspire his staff; adopting a consensual approach to problem-solving and decision-making, while being as open and transparent as possible in conducting the affairs of the company.

About the enterprise

Korcomptenz is an organization formed by senior executives who have several decades of combined experience in Information Technology Industry globally. The team has successfully acquired, managed and delivered multi-million dollar assignments worldwide.
Korcomptenz Inc provides consulting and IT services to customers in North America, Europe and Asia Pacific – using a Global Delivery Model backed by High Class Talent, World Class Processes and Leading Edge Practices. Their Core strengths lie in understanding the customer’s requirements and putting together workable plan to address customer needs. They mobilize the right technical and managerial talent from existing pool across the world or working with independent consultants and partners to make available to their customers the right resources which would solve customers’ problems and delivery value at the most optimal costs. It provides services in Manufacturing, Retail and Financial services.

Vision:
· To be an internationally acclaimed provider of consulting, IT and ITES services by 2010
· To realize our objectives in an environment of earnestness, dedication and courtesy towards our customers, employees, vendors and society at large

Mission:
· To provide a rewarding and enriching experience for our investors, customers, employees (ICE) and all who partner with us.
· To provide our customers with innovative business solutions that addresses their core problems and needs.
· To be a responsible Corporate citizen by investing a substantial portion of its profits for the less fortunate brethren of our Society


Philosophy:

· Adherence to professional ethics
· Commitment to innovation
· Dedication to work
· Making a difference in society
Services:
Korcomptenz provide a broad portfolio of services thereby enabling their clients to turn to us for all their requirements. The services range from Application Development and Maintenance, Enterprise Resource Planning & CRM Implementation and Support, Infrastructure Support and BPO. Cutting across all service lines Korcomptenz offers Human Capital Management, Training, eLearning and EAI Practice as value added services.

Quality:
Korcomptenz has successfully clears ISO 9000 surveillance audit. Prakash Anthony complimented the team on the occasion. He said “The associates of Korcomptenz are always committed to providing quality deliverables to its customers both internal and external. This is the essence of our quality journey. The successful results of the ISO 9000 audit further confirms our seriousness in following the quality practices and nuances we laid out when we kicked off our quality journey. I wish the Korcomptenz team the very best in its quest for excellence in quality.”

Social Responsibility:
Korcomptenz true to its Philosophy has embarked on a campaign to make a difference in the lives of the less fortunate in the world. Be it children who do not have the basic amenities like sanitation, food etc or be it people who are suffering from AIDS.
Korcomptenz has started of in a small way by making a small difference in the lives of a few people. All the employees at Korcomptenz have a great passion for helping in this cause.
It has started a programme called HOPE which is described by the following pictures:




THANKS NOTE:
We are thankful to Mr. Anthony for his kind support and hope to be associated with the company in future. We hope that his initiatives would be more fruitful in the future and may he achieve his dreams. We hereby congratulate him for his venture and wish him good luck for his future endeavors.
-Kundan Kishore
-Pooja Mishra

Joint Winner in the first Small Scale Entrepreneur Success Story contest.

We are extremely grateful to Mr. Amit Bhanawat from IMI Delhi for contributing an inspirational success story on small scale entrepreneur. We are thankful to him for promoting the basic ideas that a person can work with limited means and promote small businesses.

The success story is as under:


A Story of Nothing to Everything - by : Amit Bhanawat, PGDMHR 2007-09 Batch, IMI, New Delhi
This story is about a small entrepreneur from a small town of Rajasthan. His name is Ashok Bhanawat and he owned a marble processing unit named as Ashok Bhanawat Marbles Pvt. Ltd. His company now has annual turn over of about Rs. 3 crore. It’s a gang-saw marble processing plant in Rishabhdeo in Rajasthan. Rishabhdeo is world famous from its green marble mines. His company supply marble slabs to all over the country. He also has a branch in Kishangarh (Rajasthan) which is one of the biggest marble markets of the country.
His story starts about twenty years ago when he was running a small kirana shop in Rishabhdeo. From that shop he just used to manage livelihood of his family. But he had big dreams in his mind. He wanted to be a “bada aadmi” if say in his words. He didn’t want to stick with this business. He wanted to change his line of business. At that time, in 1992, cable TV was getting popularity. So he found it a good opportunity. As he had not have enough money to start a business in full flash, first he bought one colour TV and a black and white TV of brand BPL and Darshan (a local brand of that time) respectively. He put these on his kirana shop only for sale. For the first six month he got no customer. After that one of his friends bought that colour TV. In this time of six month he knew that the Indian customer did not have faith in local brand like Darshan. So this time he brought a B&W TV of Weston brand which was a well known brand for b/w TV at that time. This time he got a very good response. Thus he started earn good money from this. Then he decided to open electronics goods shop. At that time he had only Rs. 20000 in his hand. He started his business on a very small scale. He brought 3-4 Phillips’s cassette players/ recorders, some radios, B/W TVs etc. Some of these items got sold while some were not. He continued to experiment in the product portfolio of his shop. In 2-3 years he becomes an established profit making electronics shop keeper. His cousin brother, at that time, was engaged in business of financing old vehicles. He advised him to this financing business. For this he should have money. But being a small shop keeper his credibility as borrower was very low in the market. Then he borrowed Rs. 50000 from his friend at very high interest rate than the market rate. From that money he started financing old vehicles and he becomes very successful in that field. Being a new person he started with small scale. As he started earning money and after developing understanding of the business he invested more and more. At the same time his electronics goods business was also growing. He invested more money in that business and converted his small shop into a big showroom. He got dealership of some of very big international brand like Samsung, LG, Phillips etc. Till that time he had developed a good reputation in the market. His shop becomes a well known name for electronics good in that region. He had a very close friend who was involved in marble business. At that time his interest developed in marble field. He found that buyers had to buy big marble blocks from the mines and there was no processing plant there near Rishabhdeo. He felt need of marble processing plant in Rishabhdeo. He went to Kishangarh to study such plant. He found it a very profitable business. But such plant required a huge investment. It was more than Rs. one crore for establishing such plant and another 30-40 lakhs for purchasing raw material. He did not have such huge amount and also he was inexperience in that field. So he decided to involve his two elder brothers in this business. All three decided to invest Rs. 10 lakhs each and rest of the money they arranged from the market and got loan from bank. Initially they had not enough money to buy raw material and also did not have expertise to to buy marble blocks as raw material. For buying marble block you must have expertise to judge which block would give you profit and which would give you loss. In the first year of their business they did only job work. That means they used to cut marbles only for the external customers and used to get cutting charge on per square feet basis. In this one year they developed such expertise through experience and visiting marble mines. They developed some very good contacts in this industry. Then, after one year, they started to have their own raw material and started to sell. In this way he started to make big profit. He developed good customer as well as supplier relations. The process at his factory was stream lined as well. So it used to give higher production without wastage in compare to other such factory in the area. Right now his company is no. one marble processing company in that area with strong reputation among suppliers as well as customers. His business is continuously growing and now he is also going to diversify his business. Now he is planning to establish such plant in Bangalore for granite stone as well.
This is the story of a person who becomes a big businessman from a very small kirana shop keeper without money and expertise. You would get wonder that he had studied only till 10th standard.

Winning entry in the first contest by Rohit Dhadha from Aravali Institute of Management

From AFTERSCHOOOL:
We are glad to publish the winning entry for the first Small Entrepreneur Success Story contest. The Contest was organised by AFTERSCHOOOL. The entry was judged not on its presentation but on its contents, the values that were encouraged and the message that a person with small means can also struggle and succeed.

The winning entry is as under:


By : Rohit Dhadha from:
Aravali Institute of Management

I still remember the day way back in 1989. When a young boy of 16 years by the name “Kishore” wanted to do some business but he don’t had adequate money to do so. Due to his father death his childhood all the responsibilities of his family came 5to his shoulders. He was having 3 brothers and 2 sisters and the family condition were too bad and there was no one to earn in his family.

He took some money from his relatives and started a business of ladies fancy accessories or a push cart vendor and he use to stand in front of my house. Daily he use to speak “Har mal 2 Rupee” than after some time he started “ Har mal 10 Rupee”

After 4 years in 1993 he started 2 more push cart which were handled by his brothers. The best thing about the brothers were they were really a hardworking person and the always believe that all kind of work are similar in nature. So, they never felt shy in selling goods at road side.
In the year 1998 he took some loan from bank and started a Retail shop by paying some rent. Slowly and slowly as the time pass out with all his hard work he establish 2 more Retail outlets for his brothers in different areas. The business was flourishing day by day and he started purchasing the shops for his outlets mean while some where in 2000 he got married with a young beautiful girl.
In the year 2002 his 2 sister got married and after that he plan to sale all the 3 shops and started a new one in a wholesale market. He brought all the goods on a monthly credit basis and he use to pay after one month and sale them in cash. In 2003 his 2 brothers also got married.
The power of unity of all 4 brothers showed a tremendous result that they had a great profit by the end of the year and they started one more wholesale shop. Today he has no liability on him he has repaid all the loans and he owning 3 big wholesale outlet in main market and a shopping mall and now he is living a luxurious life which was a result of effort he made in last 2 decades.


ROHIT DHADDHA

Invitation to participate in the SMALL ENTREPRENEUR SUCCESS STORY CASE STUDY

Dear Blogger

As you may be aware, we conduct Programme on Social / spiritual Entrepreneurship. Our programme is available for any student after class 12th / graduation. AFTERSCHO☺OL conducts PGPSE, which is available free to all online students. There are no charges. PGPSE is a very rigorous programme, designed to give a comprehensive training in social entrepreneurship / spiritual entrepreneurship. This programme is aimed at those persons, who want to ultimately set up their own business enterprises which can benefit society substantially. PGPSE is a unique programme, as it combines industry consultancy, business solutions and case studies in addition to spirituality and social concerns.

We are organizing an essay writing competition. The theme of essay is SUCCESS STORY OF SMALL ENTREPRENEUR. Every person who is willing to participate in this contest, can send a real success story of a small entrepreneur. Every participant will be issued a certificate. The school / college of the winning participant will get a memento and the winner will also get a memento. There is no minimum requirements regarding eligibility. The students are advised to send the essay by email. They can send the email at : afterschoool@in.com

Thanks
Trilok