· Exhorts entrepreneurs to acquire business skills
"No business is small, so there is no need to feel small. What is important is that entrepreneurs acquire business skills. If they do this their business will surely be a success." This was the advice which noted international industrialist Dr Dhananjay Datar offered to entrepreneurs in a presentation to entrepreneurs in a gathering organised by Shashwat Group and Chintamani Creations in Badlapur, in Maharashtra, India.
Dr Dhananjay Datar, chairman and managing director of Al Adil Trading well known as Masala King - narrated to the gathering of entrepreneurs his own journey as a businessman and entrepreneur which was exciting and inspiring. He explained with examples the capabilities and skills necessary to strike success in the initial stages of a business and to guard its reputation. He stressed that being successful in business is not the monopoly of any community and a Marathi entrepreneur has an equal opportunity to be a successful businessman.
Dr Datar said cordial and friendly attitude is a key to success in business, so it is important to keep one's temper in control and respect everyone's feelings. The youth of today makes brand-driven purchase decisions and it is important to do business in such a manner that you build a strong brand, he said.
"Anybody can buy products; it is the selling of products that is an art. Therefore, every entrepreneur must be a good salesman. Also, one should not feel shy when doing anything necessary for the business," Dr Dhananjay Datar said, adding he had carried sacks of raw material and finished products in the early stages of his business.
Dr Datar added that rate of profit is more important for a business than its turnover. Whatever the business, the entrepreneur must protect its brand value, he added. If this care is not taken even a business with high turnover can bite dust, he said. "A loan is a tonic which can give strength to a business but it is also important to repay loans on time and guard your reputation," Dr Datar said.
There must be fire in the belly of an entrepreneur. If that happens there is nothing and no one to stop a business from being successful, Dr Datar said. He explained, that being educated is not an imperative for success in business. Even an uneducated person can be a successful businessman he said, adding that there are many such examples in Dubai.