NewsPR held an event at West Delhi for the entrepreneurs with an aim to help them with funding, motivation, provide guidance for managing their start-ups in a better manner and how to utilize the funding in the best possible manner. The event was attended by a lot of entrepreneurs, angel investors, and one of the notable names of the corporate banking sector – Mr. Dhinendra Lohmor. The event included a lot of people talking, sharing their views and experiences with all the attendees and discussion regarding the latest advancements that have been brought into being for the start-ups especially. Post the event, Mr. Dhinendra Lohmor was interviewed as well. Read the excerpts from the same in the following post.
Question: Hello. How relevant are such kinds of events? Are they simply a recreational therapy for the entrepreneurs or do they actually make a difference?
Dhinendra Lohmor: (Laughs) Yes. Yes, these events are very beneficial for every stakeholder of the whole ‘start-up’ sector. Be it investors, be it entrepreneurs, be it the successful ones or the unsuccessful ones; everyone gains something; some motivation and guidance if not anything else. These events promote the cultivation of a healthy competition amongst the entrepreneurs of the same field and help them in meeting possible investors. Further, the people that are still struggling get motivated and find proper resources as well.
The recreation is something that is inherent in the world of start-ups. You are always working and always enjoying. This is something that attracts the people.
Question: How can we actually EMPOWER the entrepreneurs apart from funding?
Mr. Dhinendra Lohmor: Money matters. But if you don’t know how to spend it; all of it will be consumed without generating much results. Empowerment includes imparting learning, training the minds, guiding the motives and intentions and making entrepreneurs understand which ideas generate profitable deliverables and which ones need a rest. Empowerment means inculcation of a sense of security in them; telling the entrepreneurs that taking some time off for chasing the ideas that keep popping in the head is justified and that the jobs are not ALWAYS the life-savers.
Question: How can the emerging entrepreneurs find RIGHT support?
Mr. Dhinendra Lohmor: When I started angel investing, I had a notion that money can solve all kinds of problems faced by the entrepreneurs and can thus right investment can bring really astonishing results. But when I started working with the entrepreneurs, I realized that they need a support system as well. The foremost source for support is your circle; the people around you. Negativity will only halt your process. Stay in touch with the successful entrepreneurs; read success-stories; follow the other entrepreneurs and stay motivated. Nobody became a hero overnight. It takes perspiration, aspiration and huge amount of determination to generate jobs and maintain them in the crazy world of technology.
Question: How do you plan on empowering entrepreneurs?
Mr. Dhinendra Lohmor: Of course the path starts with the investment. Then, I and some other associates and colleagues are planning to hold events, seminars and launch an online portal for helping and guiding the emerging entrepreneurs in all spheres. We will be always in touch via various channels. Further, honouring the successful entrepreneurs for their works and contribution is something that will keep them involved and charged; which is of the utmost importance. These and a lot many things are being done and a lot many will be done later as well.
Question: How should the unsuccessful entrepreneurs find the STOP button? How can they know that the current idea needs to be abandoned?
Mr. Dhinendra Lohmor: That is actually a very good question. Though you can never tell the fate of anything; I mean a few decades ago, people didn’t even know that internet would be available like the way it is today. But yes, it is important to recognize the difference between a hiatus and block or pause. I mean we can’t keep on trying and waiting for a chick to come out a snake’s egg.
Keeping an eye on the works of other contemporaries; following the technology related to the idea you are pursuing and talking about the developments to your mentor always helps.