'Business is not all about funding'

BANGALORE, INDIA: It is high time we shattered the myth that funding is the most important thing in starting a business, said Jeff Slayter and Kane Minkus, business gurus and founders of Rockstar System on 'Untold Secrets of Industry Rockstars'.

Slayter and Minkus were addressing the press here on Monday, on the sidelines of the conclusion of a series of Rockstar programmes, a unique training programme for entrepreneurs, organized by Future Competency, a skill-sharing organization based in Bangalore.

“There is a myth that money is all in all in a business, which is untrue. You need funds, but it is not the most vital thing. If you have talent and a strong mind, that's more than enough,” said Slayter and Minkus. They further said that the Internet has removed all barriers and it has enabled entrepreneurs to go global and be successful.

The business gurus from Melbourne are of a view that one needs to make mistakes in business to be successful. “Each mistake you commit gives you great lessons. You keep doing mistakes. You may have to go through tough times and may fail in your attempts before you eventually taste success. Failure is a stepping stone to success. Face failures with a cool mind,” they said.

About India, they said, “We have been most impressed with the enthusiasm and eagerness for learning in India. We have got great feedback and look forward to sharing our lessons with future Industry Rockstars at our events.”

For over a decade, Slayter and Minkus have been serial entrepreneurs and Industry Rockstars. Their endeavors spanned several industries, including entertainment, technology, real estate, Internet, education and retail. They managed close to $100 million of investment capital for investors and learned secrets of other Industry Rockstars from top mentors, coaches and trainers, taking risks, making big mistakes and enjoying huge successes.

Held in Mumbai, Pune, Chennai, Hyderabad and Bangalore over the last ten days, the seminars were attended by more than 2,000 business leaders, consultants and professionals.