My learnings by Pranav Rakheja

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As my journey to successful entrepreneurship begins I have already started to realize that it’s not an easy task. But as they say “Nothing extraordinary comes out of anything ordinary.” We started with a simple task requiring a logical mind. And honestly I couldn’t even complete the first one. It seemed pretty easy before starting but alas nothing as easy as it seems.

Anyways I moved forward and realized it actually was pretty easy. It just required a bit of thinking and concentration. So my first learning was that perseverance, resilience and smart work are very important in the life of any successful entrepreneur.

Thereafter I was introduced to C.K. Prahalad who wrote “The Fortune at the Bottom of the Pyramid”. He introduced the term core competency. Core competency is defined as a harmonized combination of multiple resources and skills that distinguish a firm in the market. The most successful companies are those which identify their core competencies and deliver the best to the customers.

So I learned that core competency should be one of the most important targets that a company should develop in itself so as to soar to unknown levels.

Afterwards, we moved forward to the thinking process of an entrepreneur. How he/she achieves such feats and changes the world. The most successful entrepreneurs are those who don’t compete. They completely eliminate the competition. They do so by not thinking better than everyone but by thinking what no one else can.

Thus was my third learning that the highest achieving entrepreneurs don’t pursue the best idea. They pursue the next idea and revolutionize the world.

Hence, my journey to success begins with absolute dedication and a spirit to learn.

Wish me luck!

Contributed by Pranav Rakheja, TYE 2015-2016 student

 
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