Video India! India’s Entrepreneurs Face Tough Struggle
Vishwaprashad Alva is an entrepreneur in India that quit a high-paying job with General Electric’s India healthcare division to develop and start up his own business, Skanray Technologies. But getting the company started and off the ground has proved to be an especially brutal process.
Although it can be quite tough to be an entrepreneur anywhere in the global economy, India itself presents special obstacles including an intricately complicated bureaucracy, crumbling roads badly in need of repair, power grids, diverse cultural pressures that penalize entrepreneurial risk-taking, and corruption. Mr. Alva says even thugs demand bribes to go away, but he refuses to pay, as well as many other Indian entrepreneurs making a difference for themselves and others.
Entrepreneurship is a critically vital component to India’s economic growth as the nation of 1.2 billion tries to reduce poverty through a successfully expanding economy.
Check out this video about India’s Struggling Entrepreneurs
Video Business Success! Wayne Rogers on Entrepreneurship
Most of us will quickly recognize Wayne Rogers as a successful actor and the former star of MASH. Here he explains that entrepreneurship is a creative process, in addition to how to fix a broken business model. Much welcomed advice that many sometimes struggling entrepreneurs can use in their journey down the road to entrepreneurial success.
How I Built It: Wayne Rogers
Entrepreneurs: Innovation is the Key to Creating Wealth
“Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth”–Peter Drucker
To be an effective business, Peter Drucker correctly observed the business must always innovate, and once any business failed to perform the task of innovation over a period of time it would fail to be successful (i.e. General Motors, etc.), and yet most executives are marginally satisfied if at all with their businesses current levels of innovation, and of course many are disappointed with the level of improvements that result from their efforts.
In the course of developing innovative ideas successful Entrepreneurs stay keenly aware and very careful that they aren’t just innovating for the mere sake of innovating, since this never results in very profitable endeavors, or it might seem that actually current levels of innovation aren’t really innovations, rather just only small incremental improvements on existing ideas, products and services.
Profitable innovation happens most frequently within well defined parameters of problem solving, and without these parameters the innovation would simply be about creating just new ideas, and yet we must realize that innovation, or at least commercially successful innovation is actually more than that, it is about creating new value, and with the new value the potential for the creation of new wealth.
In taking the innovation one step beyond the creation of new technologies one has to determine why many innovative creations don’t work right away, but sometimes take many years and multiple efforts before success is achieved, and when we focus on what was missing in the process, many times it’s as simple as getting the idea to spread and become viral to a point where the innovation becomes very successful when finally combined with another different innovation.
This is true and has been repeated many times when Entrepreneurs are able to create networks that are able to combine different innovations that together synergistically exploit results that solves real problems, meets critical market needs, and therefore become successful as a group called a value network, or a value chain, which is usually taken for granted or purely neglected by many managers and executives, but changes here can result in profitable, innovative solutions for both entrepreneurial organizations and their customers.
A businesses value network is the collection of business functions, systems, and processes that are designed to deliver the greatest value to its customers, and the value network becomes a critical mechanism for the process of innovation, and also becomes a key part of the business strategy because it creates systems that include the creation of a natural barrier to
entry for competitors, make the business more competitive in the marketplace, insure profits and good economies, and most importantly insulates the business from losses in a bad market similar to the current state of the global economy.
Instead of building a value network, many businesses look only to marketing its traditional 4P’s (Product, Price, Place, Promotion) to navigate the through hard times or to squeak out an extra dollar of profit, and while the 4P’s are a useful tool, by themselves they frequently do not go far enough, so the creation of a value network serves not only much the same basic function as the 4P’s, but actually takes it several steps beyond, and the good news is the 4P’s can be fairly easy to replicate, however replicating systems and processes are much more complex, as such, the value network becomes intertwined with overall corporate strategies.
Entrepreneurial Strategy is a combination of the many things Entrepreneurs do, for example, for Wal-Mart, McDonald’s or Southwest Airlines to compete on price, all of their
processes have to work together and all the small details have to exist to support their one driving goal, which is to provide the lowest prices for their many customers, and of the features of these three companies, part of their 4P’s including the warehouses, and the airplanes, are all fairly easy to replicate. Yet, the way their processes, capabilities, and personnel integrate and execute is what makes each of these extraordinary companies unique and very successful, even in the worst of economic environments like the current global economy.
Finally, a clear understanding of entrepreneurial innovations and how when taken in and of themselves they do not function to solve problems and create new strategies for entrepreneurial success, but when combined with other innovative ideas and processes they create value, success and wealth beyond anything that could be accomplished with the single innovation by and of itself.






