Saturday, February 28, 2009
This is an excerpt from a conversation someone had with Min Bahadur, owner of Bhatbhateni supermarket/dept. store chain concerning the Young Entrepreneur's of Nepal. I'm reprinting it here...
Last thursday was talking with Min bahadur gurung, owner of the Bhat bhateni chain of supermarkets and an inspiring entrepreneur life story. Few pointers from the ever optimistic and ever humble (rags to riches) entrepreneur.
Background:Min Bahadur Gurung, from remote village in Khotang started his venture with $1135 opening a small grocery store and now he is a multimillionaire with retail super market chains “bhatbhateni” in Nepal.
a) It is “THE” best time to be an entrepreneur in Nepal (he says history has proved that a lot of big companies in the world are the ones who started right after a big war /civil war.)
b) Hydro Power and agriculture are fields he would personally invest in anytime.
c) wants a group of young professionals to start things off. and Old investors like him, are ready to back young group of capable professionals to start business (again, he sees lots of opportunities).
d) wants young people to dive in to the nepali market where anything and everything is up for grabs right now, and everything can be innovated. His idea of biggest social service in Nepal is to give fair employment to as many Nepalis as possible. He hires about 900 people right now, and planning on employing about 50,000 people directly in retail and agriculture business.
e) Patience. Min waited 9 years before he turned his small grocery store into a retail store.
f) Honesty. Min emphasizes entrepreneurship is about relationships. Therefore honesty is a must specially in matters of money. Have a honest relationship with your financial institutions, your creditors, debtors, co-workers, employees.
g) share. If you share much, you gain in business in Nepal.
h) Bhatbhateni is coming to a area near you (big expansion plans)