First acquire a set of skills, young entrepreneurs told

Arjun Ranga from N R Group shares his experience

Managing Partner, N R Group, Arjun M Ranga on Wednesday asserted that budding entrepreneurs should acquire a set of skills before taking a plunge.

Delivering the keynote address at a talk on ‘Startup Charcha,’ organised at Sri Dharmasthala Manjunatheshwara Institute for Management Development (SDM-IMD), here, Ranga said, “At a time when global competition has become common, the beginners should be capable and agile to change with market demands.”

Ranga said one should be aware of the industry and derive experiences from others. Besides, he or she should be capable of reading into consumers/ customers mind. It is only then one can taste progress and achieve success in the realm.

‘Passion key factor’
One should be also driven by passion, said Ranga who added that, “Passion is the key driving factor that eventually leads to success.”

Continuing, Ranga said, “There should be a continous approach for looking at inventions, as it is imperative with the fast changing technology that is also proving cumbersome.”

In the case of inherited business, the entrepreneurs should display social responsibility by maintaining family ethics and managing employees. Most importantly, the entrepreneurs should love to face challenges, that may help him or her realise their dreams.

At any given point of time, he or she should not lose courage and aim at the target. Financial discipline also counts at pressing times, Ranga added. He recalled the growth of N R Group named after his grandfather N Rangarao, who laid the foundation for the business empire in 1945.