Colour Yarns’ Uma Kannan tells students of VHNSN College how to turn ideas into business propositions
“Turn your passion into a idea and a viable business proposition, capital will follow as honey attracts the bees” said Dr Uma Kannan, Director, Colour Yarns Ltd, Madurai, and Executive Member, Intach, Madurai Chapter.
She was addressing a meeting of the Business Line Club of the Department of Management Studies, VHNSN College, Virudhunagar, on “Passion to product” recently. The event was sponsored by Tamilnad Mercantile Bank, Tuticorin.
The objective of learning is not to be limited to employment. With the right combination of passion, hard work and commitment, it should enable the learner to succeed in turning one’s passion into a viable business proposition and become an entrepreneur, she said.
A painter may have a passion to paint. By repeatedly painting, he turns his passion into a skill and ultimately into a profession, Uma pointed out. “Passion is an inner drive towards something of interest. It is a magical tool and one should learn to use it,” she added.
Failure is inevitable, at times, and is not always bad. The right approach would be to learn the lessons from the experience. Assess whether the idea can solve a problem and research its scope to deliver. The present century gives one a lot of scope to explore and succeed, Uma said.
Citing her own passion for Madurai malli, the jasmine flower of the region with a unique size and fragrance, and how it gained the geographical index tag, and her interest in value addition in terms of new designs and access to a wider market, she said the process of turning passion into ideas, in themselves valuable resources, and then into a viable business, has certain key aspects.
These include a good education, personal growth and grooming, conceiving of a good business idea, working on the idea with passion, adjusting to one’s work life, keeping the fire burning within, not giving up the effort, tweaking the game plan to take on hurdles along the way, remaining focused and working to stay on the top, she explained.
“The key is to remain focused. Multitasking is not always a sound approach. The idea may be new or seek to change the way a thing works, like Apple introducing touch screen in mobile phones,” she said.
“Be like a postage stamp and stick to one thing until you reach your destination,” she emphasised.
Earlier, N Surendran, Chief Manager, TMB, explained the role of the bank in supporting education and self-employment among youth. Dr P Sundarapandian, the college Principal, and R Ayyam Perumal, Head, Department of Management Studies, were present.