The Hindu Business Line : `Entrepreneurs must develop credibility in early years'

Mr V. Rajagopal, Chairman, Celebrity Group, Chennai, addressing students of the Department of Management Studies, Sathyabhama Deemed University, in Chennai. - Bijoy Ghosh

Chennai , Oct. 3

One of the most important lessons for a young entrepreneur is to build one's credibility in the early years. In the initial stages, there would be more disappointments than successes, but he or she should develop strength of conviction, said Mr V. Rajagopal, Chairman, Celebrity group, while speaking to over 350 MBA students of the Department of Management Studies, Sathyabhama Deemed University, last week.

Participating in the ongoing BL Club lecture series in Chennai city colleges, Mr Rajagopal, a former Indian Police Service officer, who quit the service to start a garment export company, drew from his own experience to illustrate the theme of his talk: `How to be an entrepreneur.'

"Despite all the failures that you may face, you need to develop a sincerity of purpose and integrity of approach," he stressed. Only this would stand the entrepreneur in good stead and ensure the firm's survival in the long run. Businesses are finally all about people; "this was my single biggest learning," he said. It was important to support the people who were with you in the early years. And one had to play fair, said Mr Rajagopal. Only then would trust build up. "The currency of trust has to be constant. You need to be focused on keeping your mind fair and create conditions that benefits the organisation in the long run," he elaborated.

Another important learning for an entrepreneur in the early years is to respect the source of capital and earn its trust. If bankers or others funding an enterprise got a whiff that their money was being wrongly used, the next time around they would not trust the person, explained Mr Rajagopal. "An enterprise without resources cannot succeed," he added. Speed of decision-making would be crucial. He told the young and attentive audience: "If you are convinced there's an opportunity find the resources and go for it; you will make mistakes but if successes outweigh the mistakes, then you're okay."

He said that there would be a romantic side to the success of entrepreneurship and everybody would applaud, but nobody would sympathise when the chips were down. Contracts would be enforced and deliveries would have to be made. He cautioned the students that anything that would happen in one's life, tragedies or otherwise, would affect the core of an entrepreneur. "Nobody goes through life unscathed but one has to be physically fit and mentally strong to take it."

Talking frankly about the ups and downs, Mr Rajagopal traced his journey from quitting the prestigious IPS to his plunge into the garment business, starting as a job worker to an exporter to some of the biggest apparel brands globally and to the launch of the Indian Terrain menswear label. His talk was followed by a lively question-and-answer session with the students, who peppered him with several questions on entrepreneurship, ethics and values that an entrepreneur should develop.

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