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Critical components for creating an e-nterprise
Our M&M Bureau
Mumbai : ``In the new economy, entrepreneurs need to develop a different mind-set as many rules are being rewritten. And enterprise building requires foresight, planning and thorough management discipline,'' advocated Mr Pravin Gandhi, director, Infinity Ventures at the `TiEcon India 2000' seminar. While inagurating a session on creating an enterprise, Mr Gandhi also stressed the need for great ideas in the Internet era. ``You need to have real passion to succeede in the new economy. To build an enterprise, you also need to develop a good team work in your establishments,'' added Mr Gandhi.According to Mr Abhay Havaldar, director, ConnectCapital, entrepreneurs should invest in manpower to survive in today's tough world. ``If you are a good venture capitalist, you must invest in people. Never compromise on the manpower. Also, estabilish tight credit and collection methods from the beginning,'' recommended Mr Havaldar. Highlighting the need for brand-builing exercises for dotcom enterprises, Mr Neeraj Roy, managing director, Hungama.com said that Indian entrepreneurs should build the brand on the Web with real world associations. ``Do not spend on mainstream advertising. You can build an enterprise without advertising. But keep a sharp focus on content,'' said Mr Roy. According to Mr Roy, the essence of the marketing process is in building the brand on the Web. Roy's success formula for start-ups: Do a CAT-scan of the environment
Make sure you are the first so that you have a leading edge over others.
Choose the right brand name.
Build on the Internet like Lego.
First evangelize the concept, then sell and expand the category.
And finally, most important of all, don't worry about the competition!
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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