Mr. Jagadeesh Hiremath addressed the Deshpande Fellows on 13th June about the different corners of entrepreneurship. He is basically from technical background having 14 years of work experience in Tool engineering and Manufacturing. With the experience in the implementing stage, he has worked in Human Resource Development (HRD) sector also. His worked in different parts of Karnataka and also for sometime in western and Middle East countries. He has successfully handled various projects on CAD/CAM/CAE software tools.Mr. Jagadeesh is interested in History, explained Capitalism in his own way of taking an example of Cow and a farmer. He had a successful academic background, did Diploma in Tool and Die making from NTTF, Dharwad on a merit basis and later completed Post Diploma in Management. He said how the non-business families think conservatively about starting the Business. He too faced similar situations at home from his parents when he wanted to start a venture on his own.
Though strong criticism, he took a risk of starting a venture, but which made him to land up in a loss. Meanwhile he got an opportunity to go to abroad for a job. While he was working abroad, his strong desire of starting a venture on his own again started pulling him towards it. But he realized its not possible to live there without a job unlike in India. He is an ethical person who wanted to start a business without exploiting ecology, but very quickly he had to realize he was not a successful entrepreneur as he faced several failures in his career. In his very first business, by the time he realized he is in a loss, many of those whom he believed cheated him in the financial part. According to Mr. Jagdeesh, finance is blood for any organization.
He faced terrible experiences when he didn’t have any money with him from which he learnt that no one shares problem. A job at Saudi Arabia fetched him a salary of Rs. 4500/- per month from which he had to save and repay back the creditors for Rs. 50000/- which he incurred loss from business. The new job gave exposure to Research and Development of households and also to software technology. By the time he cleared all the debts, he had enough network to again think about starting a business. He came to north India and started a business and again landed up being in loss. This is when he realized his strengths were in Technology, designing and producing tools but not in accounts and management.
He realized how his arrogance became a hindrance to his overall development. Due to this his ideas were not given much importance, but the same were used by others and got recognition. He feels innovation is steroid for a business. Caliber, logical way of thinking, common sense, analytical thinking are some of the important aspects he gives importance in his life. Inner strength comes only through over period of time by thinking and thinking over the same aspect.
His arrogance was noticed and criticized by his colleagues and officers in his work. On absence of his manager, he was deputed for the same position where he had to get things done from others. Though he was good at execution and implementation it was not sufficient, he realized managing is also important, he failed to do so. He said honesty, sincerity and hard work are very precious to acquire in life. He believes all good things happen only because of good inner motive and ethics. For an organization to achieve success, group of members should come together to work for a common goal.
At present he is the member of TIE, social networking organization. From his own experiences, he found the thin layer that differentiates an executive, implementer, manager and an entrepreneur. For his present business, recession has also contributed for a downfall, which he strongly feels; it’s a temporary situation and will definitely come out of it. Finally he concluded saying passion is what derives one to be an achiever.
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