Interview with Mr Pawan Yadav | Head – Digital strategy & Business acquisition | Elate Digital marketing
We always strive to bring meaningful and powerful stories from India and around the world to empower and motivate our growing community. As part of this endeavour, we invited Mr.Pawan Yadav for an exclusive interview with us. Let’s learn more about his incredible journey, his background and his advice for our growing community.
Tell us a little bit about your start-up and your journey, please;
My research work on Entrepreneurship started in 2006, and as an outcome of the same, I published series of books on Entrepreneurship and related works. Post developing the competencies on Entrepreneurship, I designed and launched my own unique and integrated workshop i.e. “Entrepreneurship Development Program (EDP)” which touches upon skills required to become a successful Entrepreneur. This opened a new domain for me where I ventured with many Startups, for managing Pitch Deck, Angel Investing, Business Planning, and Consultancy, to move Startups to the next level. Almost a year back, I turned this passion into a profession and founded my own Start-up – Thought Power. So far I have delivered 500+ hours sessions and given consultancy to 26 plus start-ups informally and now formally.
How did the idea for your business/startup come about?
I started my own venture in 2003 after my graduation as a Mechanical Engineer from Army Institute of Technology (AIT), Pune but it didn’t work well, and finally, I closed down it in the next two years. To unravel the threads of failure, I did extensive research to know the reasons behind the downfall. So my failure became my source of motivation to dig out deep before re-initiating the task. During this journey, I took corporate experiences with many Global Brands like MTS Group, Kennametal, TATA, FIAT, CHRYSLER, and MAHINDRA. I also did extensive market research on Entrepreneurship, developed connections, and learned a lot from other’s experiences. Being an Author, my few creations are like Bootstrapping A Software Company, Business @ Cloud Level, Building up Green Businesses, Hello Identity- It’s my Turn Now, and India Looking for Young Authors.
What was your key driving force to become an entrepreneur?
Entrepreneurship is not a destination, it’s a journey of Persistence, Patience, and Perspiration. To be an entrepreneur, one should have the desire to initiate, upgrade and adapt. These all things I learned over a period of time, thus these became my key driving forces.
How did you come up with the name for your business/startup?
Attitude is a cluster of positive thoughts and Entrepreneurship is a derivative of positive attitude. Therefore, I have coined the name of my Start-up Thought Power.
What service(s) or product(s) do you offer/manufacture?
Under the Banner of Thought Power, we offer Workshops on Entrepreneurship and extend our consultancy on Pitch Deck, Angel Investing, and Business Planning, to move Start-ups to the next level. Even we have become a business accelerator for many existing businesses also.
Why should people choose your product/services?
We do not conduct only workshops but firmly believes in handholding, to expand businesses through Market Research, Business Planning and Strategies, Angel investing, and finally connecting Start-ups with prospective clients. This unique approach is our core value proposition. In nutshell, we give the right and cost-effective solutions and extend our support for implementing them practically on the ground.
I have received many awards for my philanthropic work in the field of Entrepreneurship and recently received an appreciation letter from the PMO of India for contribution to Skill India Development Program.
Apart from this, Indian Achiever Forum has awarded me the ”Shiksha Bharti Award” under the category of Indian Achievers’ Awards in recognition of my contribution towards the development of the Entrepreneurship Ecosystem through my Books on Entrepreneurship, Entrepreneurship Development Program (EDP), Consultancy and Mentoring to Start-up Founders / Aspirants.
How do you market your business, and which tactics have been most successful?
In the last decade, digital marketing replaced many traditional aspects of marketing a business. Thus, I did my PGEP from IIM Calcutta on “Digital and Social Media Marketing Strategies” to get aligned with upcoming trends and technologies. So my marketing is a mix that includes personal connections, traditional styles, and digital platforms to get cutting edge in this thriving marketing scenario. This lead to the formation of my own start-up in the Digital Domain – “Digital Persistent”, four months back.
What risks are you facing?
Risks are blessings in disguise and I personally consider them as opportunities. Yes, sometimes outcomes might not be good but these give us certain lessons, experiences and motivate us to adapt and upgrade.
Did pandemic (COVID 19) affect your business? if yes how?
Yes, COVID 19 touched upon every facet of life and businesses are one among them. Traditional ways of doing a business taken over by digital technologies. The sooner, we adapt to it, we would be able to bounce back with the same quantum of business. It’s a matter of time.
Have you considered any alliance/partnership/funding?
Yes, alliances are the organizations of like-minded businesses. So, I firmly believe that alliances and partnerships can accelerate your business in quantum. I have not taken so far any funding support.
What are your responsibilities as the business owner?
Being a business owner, I always look forward for expansion opportunities through a collaborative approach. One should always keep watch on all aspects of business whether it is revenue, profitability, competition, or upcoming trends in technologies. Thus, I always remain in learning mode to sustain and grow my business.
How many hours a day do you work on average & can you describe/outline your typical day?
I work almost 8 -10 hours a day. I always prioritize my work, a day in advance and try to follow the same. At the end of the day, my efficiency comes closer to 70% only. Still, there is a scope for improvement.
What is your greatest fear, and how do you manage fear?
Being an entrepreneur is itself a biggest fear for an entrepreneur. Because you have to hunt daily and learn daily. The moment one stops hunting and learning becomes the biggest fear to sustain and grow.
What comes first for you money or emotions?
As per me, both money and emotions are equally important because the former satisfies your belly and the latter becomes fuel to drive you. So there should be a perfect blend of both and being an entrepreneur one should know to balance it.
Tell us about your early life & How has being an entrepreneur affected your family life?
Being from a defence family, to be an entrepreneur never appreciated. My family would like to see me settled. So first I settled myself for basic needs as per Maslow’s law and then I took the risk to venture myself into this profession of entrepreneurship. Now the family is much comfortable to see my little growth. But overcoming with an initial mind-set of the family was very much challenging.
What piece of advice would you give to college graduates who want to become entrepreneurs?
I would like to say that the path which you are planning to choose is not a straight one. It’s full of ups and downs. So get ready for a thrilling journey. But trust me if you ready to leave your comfort zone and ready to face hardships with courage for at least two years, the sky is the limit. But please acquire skills and knowledge before jumping into it. Do extensive market research on your idea. Find the right mentor who can advise you during its course.
Please share with us a unique challenge you faced in your early career?
The biggest challenge for any start-up is acquiring trust and creditability for the product or service being offered. One can manage the funds but getting the first client is the biggest challenge. The first client can make you or break you.
How did you discover your passion?
During my engineering days, I was public relations secretary and got feedback from friends to opt for Entrepreneurship as a career opportunity. This might be because of my communication style.
With so much going on, how do you start the day to keep your passion alive?
Desire to learn and desire to grow is an intrinsic phenomenon to generate passion. If this trait doesn’t exist in me then this field is not meant for me.
We know that you are continuously engaged in helping others achieve their goals. Why do you do that?
My organization’s growth is directly proportional to the growth of other organizations with whom I am involved as a consultant. This is the only way of our existence.
What advice would you give students and young professionals who want to have a successful career?
My simple advice to be successful in your career, try to identify your passion and convert it into a profession. Rest all like satisfaction, success or recognition will fall automatically in place.
Brutnow Media is committed to bringing stories from the startup ecosystem, stories that reshape our perspective, add value to our community and be a constant source of motivation not just for our community but also for the whole ecosystem of entrepreneurs and aspiring individuals.
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