A bright future

Friends, this is the concluding article of the series. For the last two years, I have had the opportunity to interact with enthusiastic readers to whom I express my sincere gratitude. I am utterly thankful to the editorial and managerial teams of Khaleej Times for giving me the chance to write for their esteemed readership. Through previous articles, I have covered various aspects of entrepreneurship along with my journey in the business field. I am writing this last article as a summary of all the success tips mentioned till now, but with a futuristic perspective.

Let me welcome all those young aspirants who have a passion for business. It is a competitive and challenging world, full of risks, but at the same time, it is highly rewarding. The only qualification and eligibility requirement needed to succeed in this world is a mind full of determination. Simply put, business offers chances to everyone. So, step into this field without any hesitation or doubt.

Business is not risky at all as it is thought to be, if you take calculated risks. Don’t chase instant fortune or fame. Instead, always stay cool, patient and studious and let the fortune follow you. If you have a novel idea, product or service, do not discuss it with others until you implement it. Remember, in today’s world ideas are money, so save and use it wisely to your profit. If you are a manufacturer, your products should be qualitative, safe, non-adulterated and environmentally-friendly. If you are a service provider, your services should be timely, polite and customer-friendly. Remember, every customer deserves a royal treatment in your store. Always treat your employees with kindness and courtesy. Customers and colleagues are very important factors in your success.

When you step into business, don’t make the mistake of making enemies or competitors from day one. You should not open your shop or office at a place where similar service providers are already established. Instead, find new localities, new market places where you will be an early bird. The two important lessons I got at the start of my career, from ordinary traders are — no work is too high or too low. It should be done with equal commitment. Secondly, hard work, creativity and skill never go to waste. At a certain point in time, these qualities reward you enormously. A new business is like a new born baby that becomes capable of eating and walking on its own only after three years. Similarly, a new business gets settled only after three years. You must have the much patience and capital to feed it.

The future will have a lot of opportunities in the entrepreneurial field. People inventing novel technologies and products will surely succeed and benefit. Smart entrepreneurs are the need of the hour. And finally, always enjoy this beautiful life.

Dr Dhananjay (Jay) Datar is the chairman and managing director of Al Adil Trading.