Sanket Bhatt from Dhinchak Mumbai. Today he will be sharing his failures in entrepreneurship, roadblocks to entrepreneurship & how he overcome them. Sanket had to struggle a lot in beginning to achieve his success. He is a leading college and youth entertainment portal of the Mumbai i.e Dhinchak Mumbai. I am sure you will learn lot from his entrepreneurship skills.
So lets get started with Sanket.
First of all thanks a lot for accepting my interview proposal. My readers are glad to have you here. Please tell us about yourself and your educational background?
Hi I am Sanket Bhatt, Founder of Dhinchak Media L.L.P Ventures. I proudly ownDhinchakMumbai.com, one of the leading college and youth entertainment portal of Mumbai. Dhinchak Productions (Previously known as Moksh WRTS) we deal in event management and event productions. Right from Sound, Lights, Video to Getting Shahrukh Khan to dance at your wedding.
We provide everything. A complete 360 degree event solutions. And my third vertical is Dhinchak Communications. thatprovides marketing solutions to Brands and Movies to help them promote in the college and college festivals.
I have completed my BMM (Advertising) in 2011 and now pursuing my Masters in Event and Sports management at Kedge Business School in France. I could not believe that I will study this far as I always believed in gaining knowledge by experience and trying something different and not just studying for marks and gaining a degree. Luckily I scored well because this field and subjects excite me and so I decided to complete masters.
What is the reason behind your success? Who introduce you to entrepreneurship?
There was no such introduction to entrepreneurship. It was the way I lived my entire life. People say I am one of the deadliest combinations in the world. My mother is Gujarati (born with an MBA degree:-P), My father is a Maharashtrian, so never give up attitude comes (Marnahaiyamarnahai. there is no other option) from his side and also I am very stubborn. I have been raised with Marwadi and Kuttchis kids and their family.
Related: 5 Roadblocks To Entrepreneurship Journey and How To Overcome It
So right from childhood I have never seen anybody going to a job and get salaries. All I heard was business. I studied in a Sindhi college till my graduation, so lots of Sindhis around me (another successful business community) Soall these small factors played a very important role in how I see things and situations and what I wanted to do.
I don’t think or recall anytime in my life that I have said when I grow up I will become a doctor or engineer or a scientist. I always said I would make companies, which will provide jobs to all these people.
How did you make your first online income? How much time did it take to make money online?
Online is a very patience games. For the 1st6 month there were hardly any people writing contentor DhinchakMumbai.com. We went to all the events and no body even knew this name and who we were, forget people working and the online revenue. But over 1 year we made brand name strong and invested all we earn from the event management into this website.
It was after 1 and half year that we received our 1st Paid Advertisement on the site. There were time, when we thought of closing the site and focus on the venture which is getting us money. But it was patience that helped us to survive. India is still yet not exploited on the online front, there is a huge potential for the all the online ventures but they should also understand it’s a long term game. The person who manages to stand till the end wins.
How do you share your success with your friends? What you suggest them about entrepreneurship?
Friends are very important. I am fortunate enough to start my ventures with my friends. Few of them left due to some constraints but they are still connected and equally care about the ventures as their own baby. I have lost my cool many a times but it were my friends who understood what I need and what is to be done at the right time and they took control over everything.
That’s how Dhinchak Survived and today it is growing at fast pace. Entrepreneurship is like a roller coaster … you just sit tight and enjoy the ride … it will be fast at some times, slow at times, steep turns and many a times a complete 360 degree flips. but that’s the fun. Entrepreneurship is a journey, its not a achievement.
What are the risks involved in entrepreneurship. Please tell us?
Well everything in life has a risk. No Risk No gains. I don’t call it risk. I called it learning. There are many things you might not know and you will learn it the harder way. I learnt many things by completely being into shit, almost broke down and lost everything I made till that day (which was a lot:P). Cried for 2 days and then got up and started working again. Yes, if you feel that you will loose everything you made because of something you didn’t know and anticipate that is a risk.
But are you ready to take that risk? If yes, then join. if no, then better search for a job. 23 penaukri. 25 pechokri. 28 pebacche. live that life like most of the people on the planet. But if you want to do something different, then risk to lenapadega boss.
What do you think about parental pressure for doing job. Most of the youth are forced for job?
Like every parent, even my parents wanted me to do a decent job and get away from business (even though they have their own companies). Because they know it’s hectic work. But I don’t believe parents should pressure their kids to take any decisions. It’s their life; let them learn their own lessons. Let them have their own experiences.
Also, I believe if you can’t sell your idea to parents toh boss customers aur clients kokyabechogey??? Start selling your ideas from your house then think to capture world.
How to recover from failures in entrepreneur. Please answer in brief?
I got some really crazy way to rise from failures. Don’t know whether it will be applicable to everyone. 1 quarter of Old monk with friends is a good way to begin recovery. Loud music, alone walks and if possible a short trip (trips means not running away from the problem). You need to recover from that sad part, until you don’t, you wont find the solution to rectify it.
But on a serious note, just try to console yourself. Shit happens. Its ok to make mistakes, everybody makes one. So what this thing failed and it didn’t work. Ideas fail, people don’t. Just try to find what went wrong and find a solution for it.
What hurdles you faced in the beginning of entrepreneurship?
Well there were lot many. Who would listen to a 16 year old guy. skinny as a stick with lose formal clothes and a engage QD cell phone with a loud ringtone and with a email ID firstname.lastname@example.org. lol!!! I was always asked “aapkesaath koi badahai? “.
Also, no investment to even print visiting cards. “Sorry I am out of cards. you can take down my number on your phone”, I have used this for a very long time until I managed to print my visiting cards. Besides these small hurdles, there was no office space. Sometimes even I travelled ticketless to attend meetings at the other end of the city (I was too stubborn to ask money from my parents:P).
But that the part of journey. Now I think, if I didn’t go through all that during that phase of my life, you guys wont be interviewing me and listening to the shit I am saying. Its just hurdles and hardships which make your story interesting. So whenever something is bad or a big hurdle is in your way, just thank god that you will another interesting chapter to share with your people.
As there is stiff competition in market for startups, how to survive in this competition?
I believe there is no competition. It just that you and other companies are working in the same direction. Try to help each other and go ahead. Well, I understood this at the very beginning. Till now my friends or competitors even forward business leads if they are not able to do certain task and similarly we also do it. Keep your focus clear.