Meet and Greet:
Participants had an informal meet and greet session. The participants were asked to talk about what they aspire to be in five to ten years from now, apart from stating their name and the organization/company they are engaged with currently. Some of the aspirations were establishing a school for the underprivileged, running an NGO to cater to children suffering from depression, working more intensively on waste management and balancing between your passions.
The meet and greet ended with a coffee break before the start of an introductory session by Ipsita Kathuria.
Introductory Session by Ipsita Kathuria, Founder & CEO, TalentNomics India:
Ipsita Kathuria introduced TalentNomics and CruciBOLD to the participants and shared with them insights on the various endeavors pursued by TalentNomics. Participants were also briefly introduced to the CruciBOLD mentoring programme.
The discussion was on-“Leading Modern Organizations: opportunities, challenges and how women entrepreneurs can prepare for success”.
What makes a successful entrepreneur?
- Define what success means to you. Find what brings you fulfillment and continue to pursue your definition of success.
- Don’t be an entrepreneur for the sake of being one. You must be an entrepreneur because you believe you have something unique to offer, something desirable and something you can offer better than anyone else.
- Keep learning and reinventing yourself.
- Keep giving other people chances in your organization. Make leaders out of the others. Allow them to make mistakes, learn from it and grow. Hiring people better than you aids the growth trajectory of your organization best.
“Being a self-employed individual takes one person out of the unemployment pool of several hundred thousand. Being an entrepreneur is creating jobs for many more.” – Saurabh Srivastava
What are the key factors that lead to success?
- Be willing to learn. Find inspiration from the ground level.
- Be consistent and build your credibility out of your consistency. Have something unique to offer.
- Have a mentor you can reach out to.
- Build a support system for yourself, be it from within your family or a support system that stems out from your circle of friends. Have people who’ll be there for you when personal life urgencies collide with professional commitments.
“Let down your ego and make small comprises if it serves the larger good. Knowing your larger priorities help you in following your dreams.” – Arti Kochhar
“Accept your mistakes, correct and rebuild yourself. A foolish entrepreneur is one who refrains from accepting his mistakes for fear of looking small in front of his peers.” – Saurabh Srivastava
“Believe in your dreams, share it with your family and sell it well to them. Make them a part of your dream and make them believe in it too. They’ll eventually be there for you and support you.” – Arti Kochhar.
What are some of the key challenges specific to women?
- Women do not voice out their opinions until they feel 100% sure about it whereas men are forever willing to dive into the work even if they are as little as 60% confident about their abilities. Women set too high standards for themselves.
- Be confident and make sure you get up and restart, each time you meet failures. Women often give up after falling once.
“Be blunt and direct. And never give up learning.” – Heena Handa.
How should entrepreneurs prioritize allocation of resources to launch/scale?
- Consult someone who can mentor you and guide you and give a third person perspective on the allocation of resources to your priorities.
“Don’t get caught up in internal priorities but focus on external priorities.” – Ritvik Lukose
Post lunch discussion Session:
The participants were asked to share their top three challenges and offer three unique solutions to overcome their challenges.
- Educational limitations and inadequacy of information.
- Gender inequalities in the form of a general lack of trust in women in the business.
- The value one adds to a family business is often questioned.
- Fear of rejection and the constant need to seek approvals.
- Lack of clarity in one’s visions.
- Going on guilt trips for having to balance between family and work choices.
- Financial dependence on the family.
Action plans to overcome the challenges:
- Demand transparency from the family in business matters. Be aware of the taxes. Keep a tab on whatever happens in the company.
- Increase your knowledge on the family business and keep reading up on it. Re-educate yourself. Find online courses and forums that will help you do so.
- To get your dreams validated, consider seeking funds from alternate sources instead of banking on the family. That helps in ensuring that you and your dreams are being taken seriously by the family.
- Take ownership of neglected areas in your family business and make yourself accountable for it. Take responsibilities in the workspace for all actions. Prefer to hire your own staff in the department so that they are answerable to you and work on developing the entire team. Be professional and draw a salary.
- Develop an ecosystem that you can thrive upon.
This session ended with each participant being given a commitment form.
The next Session for CruciBOLD YFLO Delhi cohort will be held on Jan 11th at Indian Habitat Centre, New Delhi.