Five mantras that today’s entrepreneurs should learn from traditional businesses

The words ‘startup’ and ‘entrepreneur’ may generate quite a bit of buzz these days, but many often overlook that the business leaders of the small ventures of today could learn a great deal from their more traditional peers. The phenomenon of startups shutting down as fast as they bloom is probably “fine” in the western world – however, India and Indian entrepreneurs are just coming to terms with this new normal. The recent issues of founders being held liable for organisational dues have somewhat shaken the aura of glamour and excitement around the running of a startup; however, what needs to be understood is the fact that India is a land with more than 60 million MSMEs, which have powered the unorganised economy and job market sans venture funding and media glitz.