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Entrepreneurship
Sometimes, reading Economic and Political Weekly (EPW) brings in thought provoking ideas. While reading old EPW, dated October 29, 2013 and we were shocked with skewed data on credit deposit ratios of 250 banking circles across India. We think that prosperity of Western and Southern India may be attributed to SGB’s access to capital from commercial as well as co-operative banks. Recent data from RBI quarterly is shocking from the growth of SGBs in backward areas point of view. Areas like Jaipur, Chandigarh and Coimbatore get more credit than they deposit (up to 160%) with scheduled commercial banks whereas areas like Thane get only 41% of their own deposit with the banks. The situation is the worst for Navi Mumbai circle, which is next to Mumbai, where credit to deposit ratio (CDR) is only 26%.
Collaboration for dynamic growth
It plays an important role in the growth strategy. One person can grow. But to a certain extent. For the next jump you need more brains and hands to look beyond single pair of eyes can look far. Thus we see lot many visiting cards having the designation “co-founder”. It helps.
For start-ups, besides the cash, most important decision is to shed away ego of the carrying the emblem alone. To take the message to the skies, you need to have collaborative efforts. In the collaboration, different people join hands with different skill sets which is important for the business growth in the initial stages and later as well.
As a word of caution, the founder members should have a proper founder agreement with clearly mentioning the responsibility and what each person would bring to the venture.
Further these stakeholders must declare their short term and long term plans in order to ensure that they stay for the quite some time and do not run away fast. It would be great if the members are bringing in skills that are ingredients in the making of the venture. Any friend who wants to join hands just for that can be allowed to share first line of command and should be avoided to take load of founder’s responsibility.