The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.
August - 2012 - issue > In My Opinion
Beginning a Successful Entrepreneurial Journey
Ashok Soota
Founder & Executive Chairman -Happiest Minds
How to begin a successful entrepreneurial journey? How to transform an idea into a successful enterprise? Most businesses are founded on the basis of an idea. The idea could be a new product, a new service, a new business model, or capitalizing on new technologies. As in case of Happiest Minds the technology we focus on is cloud, mobility, social media and analytics. There has to be something new in the sense that it triggers an opportunity.
David Thomson in his book "Blueprint to a Billion" says that probability of an idea being converted into a business which reaches $1 billion is one in 20,000 for global companies. Even if we were to define success much more moderately, for example- the ability to do a successful public listing, the probability would still be less than one in 1000. So you can see there are challenges which have to be overcome as you start.
There are five important factors for success, a few things to avoid and things to focus on.
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