World Zarathushti Chamber of Commerce (WZCC) was established in Illinois, USA, in December 2000, to keep alive the spirit of Zarathushti entrepreneurship and professionalism, to facilitate trade and commerce and to guide start-ups on developing and implementing a Business Plan – the key attribute for business growth and success.  WZCC today has fifteen chapters worldwide, with three in India – the Mumbai Chapter, started in 2003, has the largest membership.

We know of the legacy the earlier generations of Parsi entrepreneurs provided, in terms of housing, health care, education and facilities for the underprivileged. Can our community afford to remain apathetic to creating wealth through entrepreneurship? Most innovations today come from entrepreneurs because in large organisations, innovation disrupts established processes.

This article is about creating wealth and happiness by developing a successful business, which, at the end of its term, can leave a worthy legacy for the next generation.

Entrepreneurs create jobs which provide livelihood and security. Hence, developing entrepreneurship has become a global priority. India has the third largest start-up ecosystem in the world – the number of start-ups in India in 2018 was 50,000, with the projected annual growth estimated at 12% to 15%.

More often, a Business Idea comes to mind when one is working for a corporate or company. That is when one learns what customers need beyond what is provided by the existing product or service. The other opportunity is learning the advances or changes in technology related to the product or service being currently provided.

One of the challenges for a start-up is making a viable business model, be it as e-commerce or otherwise. It’s crucial that the business idea is unique, in the sense that it is original, different or new, that will get a foothold in the market and benefit the customer or society.

Every business needs to define its Vision and Mission: A ‘Vision Statement’ is a perceived unique characteristic and a broad objective to which the organisation is committed to sustain organisational growth in the long term. A ‘Mission Statement’ is a set of commitments that best describe what the organisation will do to ensure growth and profitability. It also states commitments to stakeholders, the environment, laws and regulations that apply to the business.

It’s important for a start-up to understand the difference between a ‘Natural’ leader and a ‘Management’ leader. Natural leader tends to put his personal ideologies above those of the group, his outlook and orientation are “centric”; he sees other team members working under him rather than with him. For a start-up to thrive, he needs to become a Management Leader who specialises in the work necessary to achieve desired results.

The study and practice of Management during my career with a Corporate was of great advantage in building the Company – Ecoplast Ltd., to a renowned firm in the plastics industry. This inspired me to author the book, ‘Learning To Succeed’, which explores the finer nuances of management and guidelines for its implementation.

WZCC has formed a ten-member Business Advisory Committee to mentor start-ups and help them get funding for the resources that are critical for starting and growing the business. The book could help start-ups prepare a realistic and achievable Business Plan based on the format provided and approach the Business Advisory Committee for guidance and mentoring to secure funds.

To obtain a free copy of the book contact the WZCC Mumbai office, email: wzccindia@on-lyne.com or Call (022) 23532522 or (+91) 9619165444. (Charges for non-members: Rs.300/- + courier).