BY ROBIN GHOSH
( FORMER CHIEF ECONOMIST, BENGAL CHAMBER OF COMMERCE AND INDUSTRY)
KOLKATA, 1 MAY 2023:
This is a breathtaking story. This is a story of adventure and entrepreneurship.
This is a narrative about Ashis Mohapatra, an IIT Engineer and MBA from ISB from Odisha.
Rejected 73 times, his startup now earns Rs. 125 crores. His company OfBusiness is now valued Rs. 44000 crores.
You will be lured to know what has been his success mantra? His belief is to chase the unthinkable and make everyone do the same.
The other weapon he has been using is the profit per transaction mantra. Unknown to most entrepreneurs and investors this metric is an excellent yardstick to govern and manage your business.
What is profit per transaction? Profit per transaction is the amount of profit your company makes on each transaction. If your company is making Rs.100000 in profit and 100 transactions, your profit per transaction is Rs.1000.
Ashis is a successful entrepreneur. His model of business is also very pragmatic. It is quite unique and innovative.
To understand his thought process, it will be interesting to observe one of his discourses.
Countering a question- what kind of Happiness entrepreneurs should look for – Ashis answers: I will put it this way .First stage when your venture accrues maiden profit.The second stage is when you find your profits are growing.
The third stage is: after happiness is delight. And what do you mean by delight-and delight means when people look out at your P&L and say Wow.
This is basically ‘aha” moment.This is what entrepreneurs are striving for and this comes when Ashis says this comes when the entrepreneur ticks three boxes
1. Ventures need to grow continuously
2. Profits are substantial
3. Nobody is able to copy what you have been building for.
What emerges is a trinity Growth, Profitability and Compliance – co – terminus with each other.