It is commonly believed that entrepreneurship in India is largely confined to the students of premier institutions, limiting to IITs and IIMs. For the co-founder of Jabong Praveen Sinha, one doesn’t necessarily need an association with premier institutes, though it does give an advantage of alumni network, ease to access information etc. However, having a few key traits can surely help the aspirants to become successful entrepreneurs without any tag of premeium institute.
Being smart, open to ideas and courageous
Certainly, there is no potential substitute to being courageous, smart and determined when it comes to success. “You don’t have to be from a premier institute to succeed in life. It is all about possessing these three main attributes: First, out-of-the-box thinking. Second, being open to new ideas while implementing on the ground. And lastly, being comfortable in breaking assumptions and courageous in making decisions while maintaining the delicate balance between logic and creativity,” says Sinha.
Perseverance, Patience, Passion and action orientation
Success comes easy when you are passionate and go that extra mile for it. Being a serial entrepreneur, Praveen Sinha has been successful in all of his entrepreneurial ventures. He credits four traits that helped him in establishing a number of startups from scratch to the pinnacles of success — Perseverance, Patience, Passion, and action orientation. These characteristics make entrepreneurs “self-driven individuals who doesn’t shy away from taking ownership of the things they do,” says the maverick entrepreneur.
Every mistake is an opportunity to learn something more about yourself, your people and business — Praveen Sinha, Co-founder Jabong
Implementing ideas and hypothesis aggressively
Sinha’s first entrepreneurial experiment – AquaBrim Pvt. Ltd. which provides solutions for automation of the water management system became a huge success. The venture was established when he was styuding/doing his MBA from IIMC. “Most successful entrepreneurs started before they were ready. The truth is that you are never fully ready but you get ready while you are executing,” says Sinha. He calls an entrepreneur as the one who believes in aggressively executing his ideas and hypotheses and not just limiting himself to planning and strategizing.
An exceptional journey
From establishing Jabong to making it a million-dollar enterprise, Praveen Sinha’s entrepreneurial journey is motivating. At present, he is the managing director of alternative lending FinTech –PinCap that funds India’s economic backbone — MSMEs. Drawing conclusions from his empirical experiences and being an active angel investor, Praveen has been an inspiration for a number of young entrepreneurs across India.