'No mother tells her child, Beta, entrepreneur bano'

The hotel where Kanwal Rekhi’s talk had been scheduled had a mini traffic jam of sorts, so the entrepreneurial guru calmly hopped off his car outside the hotel and walked past the chaos unnoticed. Once on the stage, the millionaire-philanthropist held the attention of the audience by infusing self depreciating humour and frank insights. And once off it, he was mobbed like a filmstar.
What is your view on the entrepreneurial scene in India today?
It’s wonderful! There are a large number of people who’re opting for entrepreneurship today and that tells me that attitudes of people in India are changing. No mother tells her child, “Beta, entrepreneur bano.” (Son, become an entrepreneur) They still want their children to have good jobs, get married and have children. And while there is nothing wrong with that, it’s important to have budding entrepreneurs as well.
Where do Indian entrepreneurs lag behind?
They don’t think big. Most of them aim for their companies to grow to Rs 5 crore or Rs 10 crore at best. They need to think beyond India and aim higher. The sky is the limit. There is a lot of potential in the smaller cities, not just the metros.
What are the challenges for today’s Indian entrepreneur?
I don’t think the Indian environment holds you back any more. In this liberalised, globalised country, the market is inviting. There is plenty of funding – be it from venture capitalists, angels and many more sources. So I don’t think entrepreneurs in today’s India have anything to complain about.
Which are the sectors that have most potential?
The interesting part about India is there is opportunity everywhere. There are so many inefficiencies in the way the system functions that an entrepreneur can spot opportunities in many of them. For instance, in the food business, about 1/3rd of the fruits and vegetables go waste. That’s an opportunity waiting for an entrepreneur right there.
What are the lessons that Indian entrepreneurs can learn from their US counterparts?
The US has a longer tradition of entrepreneurship and the heroes there are all entrepreneurs. American entrepreneurs have typically focused on the top of the pyramid – the wealthy – across various geographies.
Indian entrepreneurs can focus on the bottom of the pyramid with world-class working solution at low cost that can reach not just across the country but also other developing economies.