DEFINITION OF 'ENTREPRENEUR'

An individual who, rather than working as an employee, runs a small business and
assumes all the risk and reward of a given business venture, idea, or good or
service offered for sale. The entrepreneur is commonly seen as a business leader
and innovator of new ideas and business processes.
.

Meaning
An entrepreneur supplies risk capital as a risk taker,
and monitors and controls the business activities. The entrepreneur is usually a sole
proprietor, a partner, or the one who owns the majority of shares in
an incorporated venture.
According to economist Joseph Alois Schumpeter (1883-1950), entrepreneurs are
not necessarily motivated by profit but regard it as a standard for measuring
achievement or success. Schumpeter discovered that they
1.

greatlyvalueself-reliance,

2.

strive for distinction through excellence,

3.

are highly optimistic (otherwise nothing would be undertaken), and

4.

always favor challenges of mediumrisk(neither too easy, nor ruinous).

Entrepreneurship is the process of starting a business or other organization.

The entrepreneur develops a business model, acquires the human and other
required resources, and is fully responsible for its success or failure.
Entrepreneurship operates within an entrepreneurship ecosystem
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25 Common Characteristics of Successful Entrepreneurs

Regardless of your definition of success, there are, oddly enough, a great number
of common characteristics that are shared by successful businesspeople. You can
place a check beside each characteristic that you feel that you possess. This way,
you can see how you stack up. Even if you don't have all of these characteristics,
don't fret. Most can be learned with practice and by developing a winning attitude,
especially if you set goals and apply yourself, through strategic planning, to reach
those goals in incremental and measurable stages.
1. Do what you enjoy.
What you get out of your business in the form of personal satisfaction, financial
gain, stability and enjoyment will be the sum of what you put into your business.
So if you don't enjoy what you're doing, in all likelihood it's safe to assume that
will be reflected in the success of your business--or subsequent lack of success. In
fact, if you don't enjoy what you're doing, chances are you won't succeed.
2. Take what you do seriously.
You cannot expect to be effective and successful in business unless you truly
believe in your business and in the goods and services that you sell. Far too many
home business owners fail to take their own businesses seriously enough, getting
easily sidetracked and not staying motivated and keeping their noses to the
grindstone. They also fall prey to naysayers who don't take them seriously because
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they don't work from an office building, office park, storefront, or factory. Little do
these skeptics, who rain on the home business owner's parade, know is that the
number of people working from home, and making very good annual incomes, has
grown by leaps and bounds in recent years.
3. Plan everything.
Planning every aspect of your home business is not only a must, but also builds
habits that every home business owner should develop, implement, and maintain.
The act of business planning is so important because it requires you to analyze
each business situation, research and compile data, and make conclusions based
mainly on the facts as revealed through the research. Business planning also serves
a second function, which is having your goals and how you will achieve them, on
paper. You can use the plan that you create both as map to take you from point A to
Z and as a yardstick to measure the success of each individual plan or segment
within the plan.
4. Manage money wisely.
The lifeblood of any business enterprise is cash flow. You need it to buy inventory,
pay for services, promote and market your business, repair and replace tools and
equipment, and pay yourself so that you can continue to work. Therefore, all home
business owners must become wise money managers to ensure that the cash keeps
flowing and the bills get paid. There are two aspects to wise money management.
1. The money you receive from clients in exchange for your goods and services
you provide (income)
2. The money you spend on inventory, supplies, wages and other items
required to keep your business operating. (expenses)
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5. Ask for the sale.

A home business entrepreneur must always remember that marketing, advertising,
or promotional activities are completely worthless, regardless of how clever,
expensive, or perfectly targeted they are, unless one simple thing is accomplished-ask for the sale. This is not to say that being a great salesperson, advertising
copywriting whiz or a public relations specialist isn't a tremendous asset to your
business. However, all of these skills will be for naught if you do not actively ask
people to buy what you are selling.
6. Remember it's all about the customer.
Your home business is not about the products or services that you sell. Your home
business is not about the prices that you charge for your goods and services. Your
home business is not about your competition and how to beat them. Your business
is all about your customers, or clients, period. After all, your customers are the
people that will ultimately decide if your business goes boom or bust. Everything
you do in business must be customer focused, including your policies, warranties,
payment options, operating hours, presentations, advertising and promotional
campaigns and website. In addition, you must know who your customers are inside
out and upside down.
7. Become a shameless self-promoter (without becoming
obnoxious).
One of the greatest myths about personal or business success is that eventually
your business, personal abilities, products or services will get discovered and be
embraced by the masses that will beat a path to your door to buy what you are

selling. But how can this happen if no one knows who you are, what you sell and
why they should be buying?
Self-promotion is one of the most beneficial, yet most underutilized, marketing
tools that the majority of home business owners have at their immediate disposal.
8. Project a positive business image.
You have but a passing moment to make a positive and memorable impression on
people with whom you intend to do business. Home business owners must go out
of their way and make a conscious effort to always project the most professional
business image possible. The majority of home business owners do not have the
advantage of elaborate offices or elegant storefronts and showrooms to wow
prospects and impress customers. Instead, they must rely on imagination, creativity
and attention to the smallest detail when creating and maintaining a professional
image for their home business.
9. Get to know your customers.
One of the biggest features and often the most significant competitive edge the
home based entrepreneur has over the larger competitors is the he can offer
personalized attention. Call it high-tech backlash if you will, but customers are sick
and tired of hearing that their information is somewhere in the computer and must
be retrieved, or told to push a dozen digits to finally get to the right department
only to end up with voice mail--from which they never receive a return phone call.
The home business owner can actually answer phone calls, get to know customers,
provide personal attention and win over repeat business by doing so. It's a
researched fact that most business (80 percent) will come from repeat customers
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rather than new customers. Therefore, along with trying to draw newcomers, the
more you can do to woo your regular customers, the better off you will be in the
long run and personalized attention is very much appreciated and remembered in
the modern high tech world.
10. Level the playing field with technology.
You should avoid getting overly caught up in the high-tech world, but you should
also know how to take advantage of using it. One of the most amazing aspects of
the internet is that a one or two person business operating from a basement can
have a superior website to a $50 million company, and nobody knows the
difference. Make sure you're keeping up with the high-tech world as it suits your
needs.. The best technology is that which helps you, not that which impresses your
neighbors.
11. Build a top-notch business team.
No one person can build a successful business alone. It's a task that requires a team
that is as committed as you to the business and its success. Your business team may
include family members, friends, suppliers, business alliances, employees, subcontractors, industry and business associations, local government and the
community. Of course the most important team members will be your customers or
clients. Any or all may have a say in how your business will function and a stake in
your business future.
12. Become known as an expert.
When you have a problem that needs to be solved, do you seek just anyone's
advice or do you seek an expert in the field to help solve your particular problem?
Obviously, you want the most accurate information and assistance that you can get.
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You naturally seek an expert to help solve your problem. You call a plumber when
the hot water tank leaks, a real estate agent when it's time to sell your home or a
dentist when you have a toothache. Therefore, it only stands to reason that the
more you become known for your expertise in your business, the more people will
seek you out to tap into your expertise, creating more selling and referral
opportunities. In effect, becoming known as an expert is another style of
prospecting for new business, just in reverse. Instead of finding new and qualified
people to sell to, these people seek you out for your expertise.
13. Create a competitive advantage.
A home business must have a clearly defined unique selling proposition. This is
nothing more than a fancy way of asking the vital question, "Why will people
choose to do business with you or purchase your product or service instead of
doing business with a competitor and buying his product or service?" In other
words, what one aspect or combination of aspects is going to separate your
business from your competition? Will it be better service, a longer warranty, better
selection, longer business hours, more flexible payment options, lowest price,
personalized service, better customer service, better return and exchange policies
or a combination of several of these?
14. Invest in yourself.
Top entrepreneurs buy and read business and marketing books, magazines, reports,
journals, newsletters, websites and industry publications, knowing that these
resources will improve their understanding of business and marketing functions
and skills. They join business associations and clubs, and they network with other
skilled business people to learn their secrets of success and help define their own
goals and objectives. Top entrepreneurs attend business and marketing seminars,
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workshops and training courses, even if they have already mastered the subject
matter of the event. They do this because they know that education is an ongoing
process. There are usually ways to do things better, in less time, with less effort. In
short, top entrepreneurs never stop investing in the most powerful, effective and
best business and marketing tool at their immediate disposal--themselves.
15. Be accessible.
We're living in a time when we all expect our fast food lunch at the drive-thru
window to be ready in mere minutes, our dry cleaning to be ready for pick-up on
the same day, our money to be available at the cash machine and our pizza
delivered in 30 minutes or it's free. You see the pattern developing--you must make
it as easy as you can for people to do business with you, regardless of the home
business you operate.
You must remain cognizant of the fact that few people will work hard, go out of
their way, or be inconvenienced just for the privilege of giving you their hardearned money. The shoe is always on the other foot. Making it easy for people to
do business with you means that you must be accessible and knowledgeable about
your products and services. You must be able to provide customers with what they
want, when they want it.
16. Build a rock-solid reputation.
A good reputation is unquestionably one of the home business owner's most
tangible and marketable assets. You can't simply buy a good reputation; it's
something that you earn by honoring your promises. If you promise to have the
merchandise in the customer's hands by Wednesday, you have no excuse not to
have it there. If you offer to repair something, you need to make good on your
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offer. Consistency in what you offer is the other key factor. If you cannot come
through with the same level of service (and products) for clients on a regular basis,
they have no reason to trust you . . . and without trust, you won't have a good
reputation.
17. Sell benefits.
Pushing product features is for inexperienced or wannabe entrepreneurs. Selling
the benefits associated with owning and using the products and services you carry
is what sales professionals worldwide focus on to create buying excitement and to
sell, sell more, and sell more frequently to their customers. Your advertising, sales
presentations, printed marketing materials, product packaging, website,
newsletters, trade show exhibit and signage are vital. Every time and every
medium used to communicate with your target audience must always be selling the
benefits associated with owning your product or using your service.
18. Get involved.
Always go out of your way to get involved in the community that supports your
business. You can do this in many ways, such as pitching in to help local charities
or the food bank, becoming involved in organizing community events, and getting
involved in local politics. You can join associations and clubs that concentrate on
programs and policies designed to improve the local community. It's a fact that
people like to do business with people they know, like and respect, and with people
who do things to help them as members of the community.
19. Grab attention.
Small-business owners cannot waste time, money and energy on promotional
activities aimed at building awareness solely through long-term, repeated exposure.
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If you do, chances are you will go broke long before this goal is accomplished.
Instead, every promotional activity you engage in, must put money back in your
pocket so that you can continue to grab more attention and grow your business.
20. Master the art of negotiations.
The ability to negotiate effectively is unquestionably a skill that every home
business owner must make every effort to master. It's perhaps second in importance
only to asking for the sale in terms of home business musts. In business,
negotiation skills are used daily. Always remember that mastering the art of
negotiation means that your skills are so finely tuned that you can always
orchestrate a win-win situation. These win-win arrangements mean that everyone
involved feels they have won, which is really the basis for building long-term and
profitable business relationships.
21. Design Your workspace for success.
Carefully plan and design your home office workspace to ensure maximum
personal performance and productivity and, if necessary, to project professionalism
for visiting clients. If at all possible, resist the temptation to turn a corner of the
living room or your bedroom into your office. Ideally, you'll want a separate room
with a door that closes to keep business activities in and family members out, at
least during prime business and revenue generating hours of the day. A den, spare
bedroom, basement or converted garage are all ideal candidates for your new home
office. If this is not possible, you'll have to find a means of converting a room with
a partition or simply find hours to do the bulk of your work when nobody else is
home.
22. Get and stay organized.
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The key to staying organized is not about which type of file you have or whether
you keep a stack or two of papers on your desk, but it's about managing your
business. It's about having systems in place to do things. Therefore, you wan to
establish a routine by which you can accomplish as much as possible in a given
workday, whether that's three hours for a part-time business or seven or nine hours
as a full-timer. In fact, you should develop systems and routines for just about
every single business activity. Small things such as creating a to-do list at the end
of each business day, or for the week, will help keep you on top of important tasks
to tackle. Creating a single calendar to work from, not multiple sets for individual
tasks or jobs, will also ensure that jobs are completed on schedule and
appointments kept. Incorporating family and personal activities into your work
calendar is also critical so that you work and plan from a single calendar.
23. Take time off.
The temptation to work around the clock is very real for some home business
owners. After all, you don't have a manager telling you it's time to go home
because they can't afford the overtime pay. Every person working from home must
take time to establish a regular work schedule that includes time to stretch your
legs and take lunch breaks, plus some days off and scheduled vacations. Create the
schedule as soon as you have made the commitment to start a home business. Of
course, your schedule will have to be flexible. You should, therefore, not fill every
possible hour in the day. Give yourself a backup hour or two. All work and no play
makes you burn out very fast and grumpy customer service is not what people
want.
24. Limit the number of hats you wear.

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It's difficult for most business owners not to take a hands-on approach. They try to
do as much as possible and tackle as many tasks as possible in their business. The
ability to multitask, in fact, is a common trait shared by successful entrepreneurs.
However, once in a while you have to stand back and look beyond today to
determine what's in the best interest of your business and yourself over the long
run. Most highly successful entrepreneurs will tell you that from the time they
started out, they knew what they were good at and what tasks to delegate to others.
25. Follow-up constantly.
Constant contact, follow-up, and follow-through with customers, prospects, and
business alliances should be the mantra of every home business owner, new or
established. Constant and consistent follow-up enables you to turn prospects into
customers, increase the value of each sale and buying frequency from existing
customers, and build stronger business relationships with suppliers and your core
business team. Follow-up is especially important with your existing customer base,
as the real work begins after the sale. It's easy to sell one product or service, but it
takes work to retain customers and keep them coming back.

Mr C V Jacob
Chairman
Synthite Industries Ltd
Born in 1933, in an Orthodox Christian family at Kolenchery, Mr. C V Jacob
started his career in Cardamom trade and auctions. In 1951 at the age of 18, he
12

took up the family business of civil engineering contracts. Realising the scope for
further expansion, on his initiative, a partnership firm was set up in 1954 which
took up several prestigious civil engineering contracts in Sabarigiri and Idukki
hydro electric projects. He specialised in tunneling and bridges which helped in the
progress of the firm. His Engineering works in the early days of his career include:
1.

Interconnecting tunnel in Sabarigiri Project between 1961 to 1964.

2.

Access tunnel to Moolamattom underground powerhouse between 1964 and

1966.

3.

Diversion tunnel at Anairangal dam between 1959 and 1960.

4.

Bridges at Kalarkutty Hydro Electric Project.

5.

Several works in National Highway and a 600 feet long Ramamangalam

Bridge across Muvattupuzha river etc.

He made his maiden entry into the industrial-front through Arborites (P) Ltd., in
1965, for manufacture of urea-formaldehyde resin. In 1967 he established Slabs
and Aggregates - a fully mechanised quarry and granite crushing unit, first of its
kind in Kerala, for the production of granite aggregates which employs over 200
workers.
Though destined for civil engineering construction, he pioneered into Spice
oleoresin industry in 1972 and established Synthite Industrial Chemicals Ltd, now
renamed as 'Synthite Industries Ltd'. Spice Oleoresin was a non-traditional product
for export at that time. Started in a small way it has today become a conglomerate
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with a group turnover of Rs. 700 crores. Currently, Synthite contributes 50% of
India's export of spice oils & oleoresins and this share is equivalent to 35% of the
world demand. Synthite has a portfolio of 500 products from spice oleoresins,
essential oils, natural food colours, functional food ingredients, flavours etc. It is
this industry which has projected India's image to the world in spices and its value
added products. Synthite has won National Awards for outstanding export
performance during the years 1976-77, 1977-78, 1978-79, 1983-84 and 1990-91
from the President of India, and export awards and rolling trophies of Spices Board
regularly from 1976 onwards.
Synthite has been constantly evolving to meet the world demand through its strong
R&D base viz. C.U. Varkey Centre for Research and Quality Assurance. This R&D
centre is recognized by the Department of Science and Technology, Government of
India. It is Mr.Jacob's philosophy and vision that prompted the group to set up
different processing plants close to the raw material growing centres to optimize
the cost of production.
Accordingly the following units were established:
1.

Herbal Isolates (P) Ltd., Vadavucode , Ernakulam established in 1984

2.

Synthite Industries Ltd, Fragrance Division, Maradur, Tamil Nadu instituted

in 1986 for the extraction of floral concretes and absolutes. Attached to this unit,
floriculture nursery was initiated to distribute saplings to farmers. This enabled
employment to 1000 village workers. Marigold cultivation was introduced in
India in a commercial scale for the first time, creating employment for 14000
farmers in approximately 15000 acres of land.
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3.

Sijmak Oils (P) Ltd., Chelambra, Malapuram Dist. a sick industrial unit was
taken over and re-established in 1992

4.

Synthite Industries Ltd, Harihar Division, Karnataka was commissioned in

2001 for the processing of chilly.

5.

Synthite Industries Ltd. Spice Ingredients Division. Synthite Taste Park,

Pancode. Established in 2006

6.

Synthite Industries Ltd, Khammam Division, Andhra Pradesh started in

2008 for deseeding of chilly.

7.

Synthite Industries Ltd, Ongole Andhra Pradesh in 2013

In addition, the following institutions have been established by Mr. Jacob

1.

Synthite Properties and Investments (P) Ltd. established in 1993, built a

centrally air conditioned Housing Project, first of its kind in South India and now
its civil construction and housing projects.

2.

Riviera Suites, Cochin, an apartment hotel first of its kind in Kerala was set
up in 1998.

3.

Synthite Exports Private Limited, established in 2000 for export of traded

items

4.

A five star property in Cochin named Ramada Lake Resort & Spa,
Kumbalam in 2008

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In addition, the following diversification were also made

Synthite has partnered with Aromco UK, a leading sweet and confectionery flavor
manufacturer, to form Aromco India. The new company offers an outstanding
range of sweet and savory flavor profiles, in liquid, emulsion and powder form
designed for use in all applications. Synthite has also established a Joint Venture
with Omega Savory Technology, Austria to form Symega which is focused on the
manufacture of savory ingredients and seasonings for the food industry.
Synthite Industries Limited was accorded ISO 9001 certification with HACCP in
August 1994 - the first food company in India to obtain the same. In the year 2005,
Synthite Lab received NABL accreditation. Its facility is now certified with ISO
22000, ISO 14001, OHSAS 18001 & PAS 99, FSSAI
As part of the backward integration programme Vanilla Plantation was initiated by
the group under Mr. Jacob's leadership.
Besides the co-generation of electricity and steam by its own agro waste as fuel the
group has established wind farms in Tamil Nadu for exploiting non conventional
wind energy for power generation.
Excellent industrial relations and labour management
The group provides employment to more than 2000 people directly and meets the
livelihood of thousands of farmers in rural areas indirectly. He maintains excellent
relations with employees at all levels and for the past 39 years the group has not
lost even a single day for labour unrest. This has been made possible by
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implementing sound social security schemes in all the group companies. He has
been one of the first to implement the pension scheme in the private sector
covering all the employees from the lowest paid to the highest in the early 90's.
His social awareness and commitment to the poor prompted him to establish
Synthite Silver Jubilee Charitable Trust on 11.11.1997 to commemorate the silver
jubilee year of the company. Now this trust is rechristened as 'CVJ Foundation'.
This trust carries out the following activities :
1.

PARPPEDAM - a housing scheme

2.

SPANDANAM - Heart surgery

3.

PRAKASHAM - Cataract surgery scheme

4.

VIDHYADHANAM - scholarship scheme for deserving students

5.

SURAKSHA - An insurance scheme for the BPL people

Under the Parppedam scheme, the Trust constructs houses for the poor who do
not have houses of their own. Preference is given to widows, handicapped and the
physically weak persons. More than 70 houses have been built under this scheme
since its inception spending more than Rs 70 lakhs
Spandanam: This scheme is intended to help heart patients who can not afford to
meet hospital expenses to undertake bypass surgery.
Prakasham: Cataract surgery - The trust in collaboration with Ophthalmology
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department of Malankara Medical Mission Medical College Hospital conducts free

cataract surgery and implants lens free of cost.
Vidhyadhanam: Extending financial support to economically weaker students
with high merit and rank for professional education. The scholarship is given to
deserving candidates in the disciplines of Engineering, Medicine, Agriculture,
Chemistry, Food Technology and Art.
Suraksha: Medical Insurance for people below poverty line. In assocaition with
United India Insurance Company, the Trust introduced a Viswa Arogya Medical
Insurance Policy for the people Below Poverty Line in Aikaranadu Gramma
Panchayath. Under this scheme, over 1600 families comprise 7000 people were
covered. As per the scheme, each family is eligible for medical insurance up to
Rs.30,000/- per year. This scheme is the first by any private sector undertaking in
India.
Community project (Drinking Water Scheme)
The Trust has undertaken a drinking water scheme in Kakkanchery in Malappuram
District. and in other drought prone areas in the State to supply drinking water to
the poor
Substantial amount is set apart by the Trust every year to carry out such charitable
programs under the above schemes.
He has received the following awards:
1.

'Udyog Patra' award from the Vice-President of India in 1978

2.

'Vyvasayasree' award from Ernakulam Chamber of Commerce and Industry.

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3.

Appreciation award from Fragrance and Flavor Association of India 1997

4.

For the sake of Honor Award , Rotary 2000

5.

Jaycees Business Entrepreneur Award 2003

6.

Akshaya Award 2003

7.

Kerala Managemnt Leadership Award 2005

8.

'Sesqui Centenary International Award' from YMCA South West India

Region

9.

Ethical Business Person - Instituted by GTK Memorial Trust & The Alumni
Association of St. Thomas College, Palai 2010

10.

"V.C Padmanabhan Memorial Award" for "Business Excellence leading to

development of Society at large" instituted by Manappuram Foundation in the
year 2012

Widely travelled in Europe, USA, Canada, Japan and other industrial nations, he
has attended the following conferences:
1.

Expo '70 (Japan).

2.

Anuga Fair, Germany.

3.

International Federation of Essential oils & Aroma Trades (IFEAT) held in

Cannes, Washington, Delhi and Vienna.

4.

American Spice Trade Association (ASTA) conventions.

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He is one of the promoters and a member of the governing body of the following:
1.

Secretary, St: Peter's College, Kolencherry since 1987.

2.

Executive Member and advisor to, Malankara Orthodox Syrian Church

Medical Mission Hospital, Kolenchery.

3.

Chairman, Special Committee, MOSC Medical College.

4.

Director, Cochin International Airport Limited.

5.

Vice - Chairman, Mar Baselios Christian College of Engineering and

Technology, Peermade.

6.

Advisor to Govt. Higher Secondary School, Kadayiruppu.

7.

Advisor to Elijah Institute of Management Studies, Thrissur

8.

Manager of St: Peter's Senior Secondary School, Kadayiruppu since 1974.

9.

He served as Vice-Chairman of Spices Board.

Member of the following institutions:

1.

Institute of Food Technologist's, USA.

2.

American Spice Trade Association.

3.

Indo American Chamber of Commerce.

4.

Indo German Chamber of Commerce.

20

5.

Indo French Chamber of Commerce.

6.

Indo- Australian Chamber of Commerce

Mr. C V Jacob has played a significant role in the establishment of Cochin

International Airport Ltd. He serves as its Director and Chairman of the
construction and Audit Committees. Civil engineering construction is a passion for
him and that flair in him expedited the completion of Nedumbasserry Airport
ahead of time.
His contribution to the education sector in Kerala has been commendable. The
latest being the commissioning of the infrastructure for Mar Baselios Christian
College of Engineering and Technology, Peermade and Malankara Orthodox
Syrian Church Medical College, Kolenchery which were completed in record time.

The achievements of the institutions outlined above are an indicator of his

leadership ability and commitment to the society.

It was the time when the people in Spices Board and the Union Commerce
Ministry were emphasising the need to export value-added spices. Mr Jacob seized
the opportunity and he hasn't looked back since then.

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KADAYIRUPPU, a village in Ernakulam district, has found a place in the world

spices map. Over 40 per cent of the spices oleoresins and spices oils exported from
the country originates from this village, thanks to the vision of an industrialist, Mr
C.V. Jacob, who belongs to this place.
His manufacturing unit, Synthite Industrial Chemicals Pvt Ltd, located deep inside
this rural environment, has contributed to the development of the area. As a result,
Kadayiruppu is well-connected by wide asphalted roads suitable for plying trailertrucks carrying containers, apart from telecommunication, education and medical
facilities.
The company, started in 1972 with an annual turnover of Rs 25 lakh, has a
combined turnover of over Rs 200 crore today. It gives direct employment to over
800 people while another 10,000 are indirectly benefited.
It has a Fragrance division at Marudur, again a village near Coimbatore in Tamil
Nadu, and Harihar division at Kumarapattinam in Karnataka.
Synthite has the distinction of being the first food company in the country to be
granted the ISO 9001 with HACCP in 1994.
The leadership of Mr Jacob has steered the company to the top rung of exporters of
spices oleoresins and oils, winning certificates of merits and trophies for
outstanding export performance in 1976-77, 1977-78, 1983-84 and 1990-91 from
the President of India. Synthite has constantly won the Outstanding Exporter's
Award of the Spices Board every year from 1976 till today.

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After his matriculation, Mr Jacob was not interested in higher education. He joined
in the family's cardamom plantation at Kallar in Idukki district. After a brief stint
there, he started off his career as a civil contractor along with his brother and
brother-in-law and undertook major civil construction works of Sabarigiri and
Idukki hydel projects and many others of the KSEB. From the construction field,
he moved out to set up Arborites Pvt Ltd, a unit manufacturing urea formaldehyde
resin, along with his friend.
It was the time when the people in Spices Board and the Union Commerce
Ministry were emphasising the need to export value-added spices so as to increase
the forex earnings from spices exports. Mr Jacob seized the opportunity. Realising
the tremendous potential, he set up the unit in his native village on a 10-acre plot,
adjacent to his 34-acre plantation and he hasn't looked back since then.
The growth has been splendid. What is significant is that he has been managing the
company single-handedly, of course, with the support of the right technology and
technical experts. Even now, at the age of 70, he is active in the business, but much
of the responsibilities have been transferred to his sons and sons-in-law.
It is probably the only company in State without a trade union. The workers are
provided interest-free housing loan and all are covered by LIC pension scheme to
which 70 per cent of the premium is paid by the company.
Just 2.5 km from Kadayiruppu, Kolenchery has a medical college, an arts and
science college, besides the higher secondary school at the village, all run by the
Malankara Orthodox Syrian Church. His contributions to these institutions' growth
have been immense.

23

In fact, Mr Jacob is instrumental in setting up the Malankara Orthodox Syrian

Church Medical College at Kolenchery. His company had extended an interest free
loan of Rs 5 crore to the medical college, he told Business Line. He is also a major
contributor to the Mar Baselios Christian College of Engineering and Technology
at Peerumedu in Idukki.
Mr Jacob is one of the few people who had actively worked to make the
Nedumbassery International Airport a reality. He is now a Director of the Cochin
International Airport Limited (CIAL) and Chairman of a sub-committee.
He says that his company uses the airport for exporting its products to various parts
of the globe. Besides, at least 250 foreign businessmen visit Kadayiruppu through
this airport. Thus, "we are major customers of this airport."
His interest in sports contributed to the construction of an indoor stadium at the
arts and science college with Central Government support. The All-India Women's
Volleyball Tournament was held here recently.
Mr Jacob says the secret of his health is the 90-minute battle with the shuttle daily.
His schoolmates, who watched his success with envy, say it is good that he
discontinued his education after matriculation.

How Rohith Bhat has built a global mobile app business in Udupi

24

In a classic example of digital entrepreneurship in small town India, Rohith Bhat

has built a global mobile app business in the temple town of Udupi. His company
Robosoft Technologies' largest selling app has been downloaded 20 million times
worldwide. In conversation with Radhika P Nair, Bhat talks about how geography
is just incidental to developing a quality tech product company.

The Inspiration
I passed out of engineering college in 1993 and for three years I worked for a
product development company. We were building a word processor in Japanese on
the Apple Mac platform and I travelled to Japan for that. I saw the progress Japan
had made and thought why can't we make world class products for the global
market from India? I started Robosoft in 1996 as a company that develops products
for global clients.
Riding the Apple Wave
Apple was just coming to India and so we decided to build products for this niche
segment. There were not many developers in India who could build products on the
Apple platform. Apple was a great supporter.
One of the first products was an Indian language kit for the global tech giant. We
developed a meta search engine in the early 2000s before anything called Google
happened. But then the dot com bust came and busted our product dreams.

25

Thankfully, Apple was changing its operating system and that got us a lot of
customers.

Till 2006, we focused on services. In 2007 we created a product that could search
and download video, which became very popular. Then in 2008, iPhone and the
app store happened. iPhone launched with 200 apps, out of which five were
developed by us for clients. Seeing the response, we decided to create our own
apps. The unpaid version of our Camera Plus app has been downloaded almost 20
million times, while the paid version has seen almost one million downloads. We
today create products under two brands: Global Delight and 99 Games Online.

Mumbai to Mangalore to Udupi

This progress was not seamless. We launched our company in Mumbai, but
running a small start-up in a large city was difficult. India was just waking up to
Internet and email and I realised that geography was irrelevant. I decided to move
to Mangalore as it was where I grew up and did my schooling. I knew people there.
We were in an incubation centre and were supposed to give up our space at the
centre after three years. I spoke to a number of people to figure out where I could
shift. I connected with people in Udupi and they were very supportive and we
decided to move. From Udupi, we create products for the world market.
26

Looking ahead
We have built a good team and have grown so far on our own steam. We have 32
crore in revenue. Now it is time to take the next leap. We want to raise funds and in
the long term, we plan to go public.

Fragrance of success
Keeping in mind Indias slow progress in the fragrant market, Perfume Station was
launched in India in 2010. Sharing the expansion plans of the brand via franchising
is Sandeep Kapoor, CEO, York Transnational Ltd.

27

Sandeep kapoor says,

Perfume Station belongs to York Transnational Limited a Hong Kong based
company having 16 years of experience in Perfume industry. The brand has just
started its journey in India and it has been very good so far. There are some
specific country related problems in India but I think we understand the Indian
market much better now and we will travel the route with much more ease. The
brand has international presence across 15 countries including Russia, Singapore,
USA, Ukraine and Mexico. We started our first store in July 2010. I believe that in
any market if you have a proven track record then franchise route is the best since
it gives the maximum expansion possibilities in minimum time. Only one store in
Jodhpur is company owned. All the others are franchised.
We have 2 modules:
Stand alone shop with a minimum area of 200 sq. ft. This requires a total
investment of Rs 7 lakh and can be made operative in 45 days after the
location has been finalised. This works very well in all Tier II and III cities.
Kiosk model with an area of 64 sq. ft requiring a total investment of Rs 4.20
lakh and can be operative in 30 days. This is specially designed for super
markets, shopping malls and shop in shop concept in metro towns.
The important criteria for selecting a franchisee are:
Availability of required finance
Entrepreneurial attitude
Involvement in the business
28

Ours is a 100 per cent perfume store providing a vast range at affordable prices and
a perfect ambiance. The ROI is 40 60 per cent per annum depending on the
module and operating profits comes within three months of operations.
We have plans to open 15 stores by the end of 2011 and 50 by end of 2012. The
vision is to make perfumes available to the masses so that they can enjoy this
product and break the myth that perfumes is meant only for the rich and famous.

PERFUME STATION BY YORK TRANSNATIONAL LIMITED GEARS UP

TO SPREAD FOOTPRINT IN RAJASTHAN THROUGH FRANCHISING
Jaipur, March 14, 2011: Perfume Station by York Transnational Limited, a unique
concept of a 100% perfume store announces its foray in franchising at 36th Edition
of Indias biggest Multi-City Expo & Conference FRO EXPO 2011 organized by
Franchise India. FRO Expo 2011, India's national Franchise & Retail show
embarking in Jaipur, Rajasthan on March 16th 17th at the Birla Auditorium. In its
13th year, Franchise India is credited for being the first and most successful
company in franchise solutions.
Elaborating further, Mr. Sandeep Kapoor, CEO, York Transnational Limited said,
India is a country brimming with enormous opportunities for franchising and the
market conditions are ripe for significant expansion in the FMCG domain. To
capture the opportunity available and the enormous gap, we need to bring more
minds to fulfil our vision. For our potential partners, the concept offers a high
return on Investment, continuous support from us in terms of business
development in terms of new products and brand building and an opportunity to
29

grow rapidly with us in one of the fastest growing industries in India. With our
stores running successfully in Jaipur, Jodhpur, Udaipur and Beawer we would now
be opening minimum 8 more stores in Rajasthan in this year."
Perfume Station is looking at entrepreneurs to capitalize on this lucrative
opportunity and invest in a strong and proven business model under the central
guidance and support of the experience Perfume Station management. York
Transnational Limited is a Hong Kong based professionally managed company
which has 16 Years of experience in Perfume Industry with international presence
in 15 countries including Russia, Singapore, USA, Ukraine and Mexico. It has
been nearly 10 months since the exclusive direct retail channel Perfume Station
has been created in India starting from Jodhpur. With a deep understanding of the
Indian perfume market, the product array is accessible with high value for money
within an average range of INR 250 to INR 1500 and the collections include more
than 100 SKUs with special ranges for men, women and children. The current
geographical presence is limited to 5 operational stores in Jodhpur, Jaipur, Beawar,
Udaipur and Ahemdabad with a strong logistic and supply chain management. At
present, the company is operating on standalone format however, intends to follow
both the standalone and kiosk model while penetrating more markets.
Commenting further, Mr. Gaurav Marya, President, Franchise India said, With
higher disposable incomes and living standards, India consumers have begun to
splurge with aplomb, to be upbeat with the latest. This rise in the discretionary
expenditure has led to colossal shift in average Indian consumption basket. FRO
2011, Jaipur is a massive prospect for Perfume Station to get the maximum out of
the changing trend in the Indian society.
About Franchise India
30

Franchise India is Asias largest integrated franchise solution company since 1999,
with an absolute authority on Franchising, Licensing, Retailing, Real estate and
Marketing. The company has consulted several major brands over these years like
Caf Jubilee, Sbbaro, SportyBeans, AgriMart, Peter England, Barista, Booster
Juice, Videocon, Perfect Wellness, Satya Paul, Bwitch, HCL, MGF, Quality Walls,
Tata, Gitanjali, HSBC, Levis, JK Tyres, Lakme, Ddamas, Adidas, Euro Kidz, The
Apollo Clinic, Chhabra 555, Kidzee, Motilal Oswal, and Rosebys, Next, Welhome
and more, through media, advisory and exhibitions. With its strategically formed
divisions, Franchise India has created its own niche as the pioneers of franchise
industry and a small business authority.

Bahadur Ali grew up in Rajnandgaon in Madhya Pradesh. His father died at an

early age, and he got into the poultry business. That also led him into the poultry
feed business and soya bean processing, thus opening up the larger protein
market for his company, the India Broiler Group, with a turnover of Rs 2,200
crores.

31

Chipping away to glory

Chandubhai Virani, in more ways than one, personifies the indomitable

entrepreneurial spirit that is the hallmark of Indian businesses today. , Mr. Virani
co-founded Balaji, a manufacturer of potato chips and snack products. He started
the wafer business from the canteen of a cinema hall in Rajkot in 1974. Till 1982,
the wafers were made in his house and distributed in and around Rajkot city.
Today, Balaji Wafers is today an INR 800 crore company and giving b, tough
competition to international players, especially in Gujarat and Maharashtra
markets. Balaji has already spread its wings in Goa and parts of Rajasthan and
Madhya Pradesh as well.
Balaji is today the third largest sweet and savory snacks brand in India with a 10%
market share. It commands a market share of approximately 90% in wafers and
about 70% in namkeen products in Gujarat. It also has a dominant presence
(market share of approximately 65%) in Madhya Pradesh, Maharashtra, Rajasthan
and Goa.
32

Chandubhai has affected an expansion in Balajis product portfolio by developing

innovative and region-specific products. Besides potato chips, which accounts for
40% of the production, it also offers a gamut of choices across savory snacks. The
company has adopted a value for money positioning to ensure affordability across
consumer groups it sells namkeens at price points as low as INR5 - INR30.
Balaji has manufacturing facilities in Rajkot and Valsad with a combined capacity
to produce 3,400 kg of chips per hour.
The company has a network of 550 distributors and its products are sold across
400,000 retail outlets in India. It is also interesting to note that about 70% of
Balajis workforce comprises of women.

History
The story started in 1972, when Virani and his brothers Bhikhubhai, Chandubhai,
Kanubhai and Meghjibhai migrated from a small village in Jamnagar district to
Rajkot. Popatbhai Virani, a farmer who sold ancestral agriculture land and gave Rs.
20,000 to his sons to venture into business.
Viranis invested money given by their father in farm equipments business, but
could not succeed and lost the money.Chandubhai Virani and his brothers started
wafer business from a canteen of a cinema hall in Rajkot in 1974. Till 1989, wafers
used to be made at Virani's house and distributed in and around Rajkot city. [3]
By the overwhelming retail success they inspired to set a semi automatic plant.
Instead of preparing wafers by the traditional frying method this semi automatic
plant boosted the quality, taste and more sales also. The fame of taste reached to
33

the whole Gujarat hence it was time to take over the whole Gujarat so the biggest
automatic plant of Gujarat came into the picture.
In the initial stage Balaji Group had set up their plant at Aji Vasad (Industrial Zone,
Rajkot) with their new concept of making the potato chips. The main benefit they
got is the readymade infrastructure availability due to which their cost is reduced to
larger extent. They have operated over there around 20 to 22 years.
Now Balaji Group has set up their new fully automatic plant near Metoda G.I.D.C.
which is in the area of the village named Vajdi(vad) and also outside the town of
Valsad. [4]
Warehouse / Production Capacity[edit]
Balaji's Valsad unit, which has a wafer manufacturing facility of 2,200 kg per hour,
is one of the largest potato chips-making units in Asia. The company had sourced
the entire plant from USA, Australia, Netherlands, Germany, Japan and China.[3]
Market share
Balajis share of the local potato and vegetable chips market grew to 13.7% in
2012, from 9.5% in 2008, according to researcher Euromonitor, while PepsiCos
share fell from 69.7% to 56.8%. Balaji also dominates in the western market with a
share of 70%. In its home state Gujarat, it has a share of 90%.[1]
PRODUCTS AND SERVICES
Wafers[5]
1. Plain-Wafers
34

2. Chat-Chaska-Wafers
3. Kela-Mari-Wafers
4. Masala-Wafers
5. More-Wafers
6. Simply-Salted-Wafers
7. Kela-Masal-Wafers
8. Tometo-Wafers
Namkeens[6]
1. Aloo-Sev
2. Chanal-Dal
3. Chataka-Pataka-Masala
4. Farali-Chevdo
5. Gathiya
6. Khatta-Mitha-Mix
7. Mung-Dal
8. Ratlamisev
9. Shing-Bhujia
35

10.Chataka-Pataka-Tomato
11.Masala-Shing
12.Tikha-Mitha-Mix
13.Vatana
ACHIEVEMENT
1. Economic Time recognized Balaji Group as 'Sultan of Wafers'[7]
2. international magazine i.e. Asia Pacific food online published a special
article with 'Chip Off the Old Block' tag.[5]
3. Balaji Group is also a member of Snacks Food Association.

Bibliography
www.google.com
www.askme.com

36

NAME OF STUDENT - RACHNA VASANT TANNA

CLASS- MCOM PART I (MANAGEMENT)

SUBJECT- ENTRE4RENEURSHIP MANAGEMENT

37

TOPIC- CHARACTERISTICS OF A GOOD ENTREPRENEUR

AND SUCCESS STORIES OF VARIOUS SMALL TOWN
ENTREPRENEURS

PROJECT GUIDED BY- SIR MUKUND DESHPANDE

ROLL NO- 15528

COLLEGE- MULUND COLLEGE OF COMMERCE

SEMESTER 3

ACKNOWLEDGEMENT
It gives me pleasure to present this project on CHARACTERISTICS OF A

GOOD ENTREPRENEUR AND SUCCESS STORIES OF

VARIOUS SMALL TOWN ENTREPRENEURS to the student of
M.com (Management) The subject matter is made more compact and logical.

38

I am gratefully acknowledged the valuable efforts, suggestion and clarifications

provided by many by making this project practical.

It would be rather unfair on my part for thanking my college mulund college of

commerce for having shown their faith in me.

I extend my sincere gratitude to the honorable principal MRS. DR.PARVATHI

VENkatesh for work that I am; able to present would just not have been possible
without her guidelines.

I take this opportunity to express my sincere appreciation and gratitude to my

college librarian who made the reference and data available.

I express my grateful thanks to everyone who have contributed even in a small way
towards successful completion of this project.

Last but not the least, I would like to thank my parents for providing me with such
good education and me in the completion of this project.

PARLE TILAK VIDYALAYA ASSOCIATIONS

MULUND COLLEGE OF COMMERCE
SN ROAD,MULUND-WEST,MUMBAI-80

CERTIFICATE
39

This is to certify that the project CHARACTERISTICS OF A GOOD

ENTREPRENEUR AND SUCCESS STORIES OF VARIOUS

SMALL TOWN ENTREPRENEURS by Ms.RACHNA VASANT
TANNA ROLL NO 15528 Completed in first semester of MCOM PART 2 OF
MANAGEMENT during the academic year 2014-2015 has been found
satisfactory.This report had not been submitted for any other examination and does
not form part of any other course undergone by the candidate.

Course co-ordinator

project guide/internalexaminer

Vice principal

Principal

External examiner

College seal

Date:

DECLARATION

40

I Miss tanna rachna vasant mcom management semester 2 2013-2014 hereby

declare that I have completed my project on CHARACTERISTICS OF

A GOOD ENTREPRENEUR AND SUCCESS STORIES OF

VARIOUS SMALL TOWN ENTREPRENEURS

The information submitted is true and original to the best of my knowledge.

Date :-

Place :-

Tanna rachna vasant

41

INDEX

Sr.no

Particulars

Page
no.

MEANING AND DEFINATION OF

ENTREPRENEUR
25 COMMON CHARACTERISTICS OF
SUCCESSFUL ENTREPRENEUR
MR C.V.JACOB

ROHIT BHATT

24

SANDEEP KAPOOR

27

BAHADUR ALI

31

CHANDUBHAI VIRANI

32

ACHEIVEMENT

35

BIBLIOGRAPHY

36

42

1
2
13

43