Indore, October 24, 2013:
To provide the solutions to problems faced by aspiring entrepreneurs, ranging from finances to creative block, Indore Entrepreneur Network (IEN) of Acropolis Institute, the first ever startup chapter of the early stage entrepreneurs had organized an Interactive session with the USA entrepreneurs and Indore Start-up companies fresh entrepreneurs who are first generation entrepreneurs.
There were 27 Start-up companies from Indore interacting with ISOEL (International School of Entrepreneurship & Leadership) USA team of mentors in entrepreneurship understanding the way and mode entrepreneurial practices they have and implement. The USA mentors present during the session were – Glenn Reph, DonKiehl,Jonathan Hauck, John Trainor,Jim Andrews, Heather Valencia, Makenna Hamre, Jaimee Johnson and Katie Hatcher.
Dealing with established organizations in terms of revenue collection and obtaining the deliverables promised in the agreement is one of the biggest challenges in start-ups, claimed young entrepreneurs of the city. Over 27 young entrepreneurs with average experience of 2-3 years in various fields of business shared their know-how as well as difficulties in operating their business with established entrepreneurs from USA at the interactive session. Young entrepreneurs claimed that established brands as client give them tough time for payment. “We are into door coating and one of the clients who was supposed to pay us Rs 84 lakh just made a payment of Rs 26 lakh”, claimed an entrepreneur. In addition, entrepreneurs claimed that support and guidance are the other two prominent challenges they face in their business. Other startups from Indore claimed that initial capital was another challenge faced by them to kick start their business.
International School of Entrepreneurial Leadership (ISOEL) CEO, Glenn Ralph, who was one of the established entrepreneurs, told startups that the most important necessity of starting up a business is ‘paying customers’.
Speakers identified the need for strong networking, maintenance of a good database of people and innovation are the key aspects of scaling up various businesses.
“Remembering people and keeping them in your database is a good way of networking in your domain,” said ISOEL member Don Kiehl. Entrepreneur from Seattle (USA), Makenna Hamre, said she too was facing similar problems in scaling up the business like the Indian startups.
Indore Entrepreneur Network (IEN) convener, Atul Bharat raised concern about the challenges faced during the course of running a startup including coping up with stress and anxiety, bringing fun in the business, scaling up the business and others. He said, “Indian environment never allowed our children’s to ask “WHY” which restricted them to be innovative and creative. Wherein our youth is innovative creative and also a risk taker there he/she can givs roots to his idea in to a venture which could be scaled up to a million dollar business. It only requires all of us to support entrepreneurship and entrepreneurs so that we can build an economic independent society people and country”.
Entrepreneurship Cell of Acropolis Institute, Indore had launched first ever Indore Entrepreneur Network (IEN). It is a start-up chapter of the early stage entrepreneur’s start-ups from Indore to support the start up ecosystem in the city. The main aim of the chapter is to convert Indore into the innovation and entrepreneurship hub of M.P by attracting the cities best and brightest entrepreneurs to join this network as startups in Indore.
About USA Mentors:
Beginning in 1982, Glenn opened two dozen major markets as a Vice President for Credit Card Systems (Citibank). Then in 1986, Glenn started his own venture with two employees creating a credit card technology firm (National Bankcard Association) with IP patents and over a hundred employees in San Diego, California. Moving to Seattle in 1997, Glenn expanded a small home-based ecommerce website (Coolerguys) into a national brand exceeding $1 million in monthly sales volume through an innovative cross branding deal with Marvel Comics. Over the last ten years, Glenn has been Executive Director for a number of non-profit organizations. Today, Glenn does business consulting, serves on a number of boards and is CEO of ISOEL.
Don is a Senior SIMA® Specialist for SIMA® International. SI helps individuals and institutions discover the ways that people have been designed for productivity and satisfaction. Don has been a part of SI since 1990. He is an expert at conducting the SIMA® interview aimed at uncovering a person’s native strengths, then crafting an explanatory description of the way that individual can best make a contribution to his/her organization, family, and society. Don has been a minister, radio talk-show host and executive-recruitment researcher.
Jonathan brings to the classroom a background in commercial construction, with nearly 20 years of building elevators, escalators, and dumbwaiters. At age 40, Jonathan made a huge change in careers, which now finds him reviewing and analyzing financial reports for USA and Canadian retailers.
John in his 34 year career with the Boeing Company, John has spent the majority of time as a senior production manager in the factory assembling Boeing 777 airplanes. With a BA Ed and an MBA, John is passionate about coaching and developing people and teams to reach their highest potential.
Jim owns and operates a commercial construction company that specializes in erecting structural steel on large commercial projects in the Northwestern U.S. Prior to this, Jim operated and managed various companies and organizations that were in growth stages of their existence.
Heather is a partial owner and a Board Member of a business in Seattle called Vision 16. Vision 16 provides student housing and mentorship for students who attend the University of Washington. Heather is a key mentor for many college women. She is also involved with many NGOs in the Seattle area including Agros, Shelter for homeless and Washington Student Leadership.
Makenna is a part-time grant writer for ISOEL, and also works with a startup software company called RedRing. Makenna graduated in June 2013 with honors in Geography and Spanish from the University of Washington. She lives in Seattle, Washington and loves to run, ski, and study food policy.
Jaimee is a disputes and investigations consultant with Navigant Consulting, Inc. She has been working for Navigant for over a year and provides damage analysis for large civil lawsuits.
Jaimee graduated in June 2012 with honors in Business and a focus in Finance from the University of Washington.
Katie is a full time Music student at Eastern Washington University. She plays piano, guitar, and sings. She also loves to write her own music. She has been the music director for 3 years.
Katie loves working with and being around people. She lives in Spokane, Washington.
International School of Entrepreneurship & Leadership (ISOEL) is a nonprofit organization dedicated to the continuing education, development, and training of servant oriented, socially responsible entrepreneurial business leaders.