Learn to grow

Extracts from a Press note regarding the Entrepreneurship Development Program for Budding Entrepreneurs prepared by Dolly Dhamodiwala:

Though normally such a program would be of a much longer duration, EDII had specially structured it for six days in view of the time constraints faced by most business people. It was a residential program at the sprawling EDII campus.

A group of 27 enthusiastic entrepreneurs including a few aspiring entrepreneurs from diverse businesses such as home based food processing, ready-made garments and retail trade, to medium sized enterprises in the manufacture of dyestuffs, seals, refractories, electrical components and sterilizers, participated.

Despite the diversity in age, experience and businesses, all had a common aim — to learn how to make their business grow.

The program was designed by Prof D. M. Parikh of EDII in association with Dhamodiwala. There were five sessions per day during which the basic elements of a systematic business growth process were introduced. These included a review of the factors affecting the business, such as marketing, production and finance. An analysis of these factors — audit — helped the entrepreneurs understand the present performance of their business, its future potential, the competencies required to tap the full potential and to chalk out a clear-cut growth/change plan based on this analysis.

Clockwise from top left: Speakers Phiroze Kharas, Rus­­­­­­­­­­­­­­had Gin­­­walla and coordinator Dolly Dhamo-d­iwala

The sessions on financial management included an introduction to investment decisions, evaluation of the project and working capital management to guide the entrepreneurs in assessing the financial viability of their projects. A special session was devoted to sources of finance for Micro, Small and Medium Enterprises (MSMEs) in India and information on the various promotional and developmental schemes of the central and state governments for MSMEs.

The program ended with a valedictory session during which two speakers were invited to share their business experiences with the participants: Phiroze Kharas, chairman of WZCC Bombay and chairman, Ecoplast made an in-depth presentation on his experiences of starting and shaping Ecoplast, a plastic film manufacturing unit. Later Rushad Ginwalla of Ahmedabad gave an interesting account of his experiences in starting a chain of restaurants, Mirch Masala.

There were two industry visits. One was to FluidPack, a unit set up by a first generation entrepreneur for manufacturing machinery for the pharmaceutical industry. The other was to Havmore Ice-cream, a more than 60-year-old ice cream manufacturing unit.

On the last day the entire morning session was devoted to stress management conducted by Dr D. M. Pestonjee, ex-professor, Indian Institute of Management, Ahmedabad.