Today we have with Prateek Bhardwaj who is a businessman, entrepreneur, inventor and founder-director of Joint Employment Test. Here are some interesting facts about Prateek, like his inspiration for new inventions, his motivation to start his business and memorable moments of his journey.
What ignited the spark in you to start a new business venture or to make significant changes in an existing businessIJ How did the idea for your business come aboutIJ
Possibilities, Possibility of achieving what i planned and visioned made me to start and carry on this path. Its been a self-motivation, there were no role models, no mentors, or advisers. Every envision of possibility, like I visioned we can make aircraft parts and can export to other countries, we visioned we achieved. Most of my businesses and business ideas came from real life experiences and examples.
What was motive behind your education venture the Joint Employment TestIJ
JET Exam is actually a solution to a dangerously growing problem of joblessness, complete absence of proper guidance to get proper job and already established mentalities of people. Since from my school days i felt bad about people standing in queue for just entering an exam center for IIT or any job exam for which they paid fees, just to get chance of sitting in the entrance exam. After shifting to online exams a complete lack of proper exam centers and students have to travel hundreds of kilometers only to attend two hours of exam.
No one on college days knows what to do to get a job, even they do not know what they want to do, they just see few available sources in front and fear any unknown or less known possibility, seriously hampering their chances for better future, i met many students who attended more than 71 written job exams in an year without preparation just because his parents told him to do so.
We heard that you have developed an anti-cheating software Aryabhatta IV, How can it help to reform education system in IndiaIJ Please explain about itIJ
Aryabhatta IV is fourth generation of our online exam software, which deletes any possibility of hacking examination process, and completely ending any chance of exam center people involvement in any case of cheating, it uses very smart artificial intelligence technology who silently monitor and predict student behavior to analyze situation and report exam controller immediately to take fast action.
In a vast country like India it is very difficult, most times impossible to manually control millions of candidates in thousands of exam centers.
You have been an aircraft designer and some of your aviation portfolio was selected by MIT USA. How do feelIJ Please share some of your experience or journey with aviation industry.
Aviation is very natural in me, even before watching any real aircraft i knew inside me aircraft exists, and what possible design of aircraft will be, long before starting college i was able to read engineering drawings of aircraft on my own. On my first ever aircraft flying, i didn't need any type if instruction, even instructor was worried when i tried few professional pilot skills.
How did you help Ratan Tata for Tata Nano NxtIJ
It all started when newspaper was filled with news of failure of Nano, while watching a documentary on TATA Nano on National Geographic channel, I listened to Ratan Tata's interview how he got inspiration to build Nano, according to him he got inspiration to build a Nano, when he saw an Indian family of five people travelling on scooter in Mumbai in rainy day, but in his marketing and car design, he gave image of Nano as a teenager car, which completely moved this beautiful car away from its real customers. I emailed Mr. Tata several times with detailed suggestion, errors and solutions of issues.
What three pieces of advice would you give to college students who want to become entrepreneursIJ
Do not be entrepreneurs, There is big difference in what you think and what a real entrepreneur is, You people actually want to be industrialists. First understand difference between entrepreneur, businessman and industrialist.
If you had the chance to start your career over again, what would you do differentlyIJ
I do not think that will make any difference, only delays in implementations i did, i want to delete.
What would you say are the top three skills needed to be a successful entrepreneurIJ
I repeat to people understand what entrepreneur really means.
What have been some of your failures, and what have you learned from themIJ
I take a lots of risks and chances eventually all times i am aware of risks involved, but i let them go.
How long do you stick with an idea before giving upIJ
Forever, One of my website project stalled 31 times and work is still going on it for 32nd time.
How many hours do you work a day on averageIJ
There is no schedule, but i am workaholic. I sleep at 3-4 AM and wake up at 7 am.
How has being an entrepreneur affected your family lifeIJ
Too much and not at all, when family (typical Indian family) want an ideal boy with a regular school life, then college, job and at the moment a wedding it is completely opposite, when they think to unknown perspective, everything is normal.
What motivates youIJ
Inner me, I have a person inside me who tells me to do things in my ear, and i do that And he was always right. But i fear him.
How do you generate new ideasIJ
It is completely random, most times i came across an amazing thing or idea that fascinates and i want to know everything about it which no one have any idea and their usual reply is to avoid any efforts, that entire journey to know and understand thing becomes an idea for me.
How far are you willing to go to succeedIJ
I was living in small city in childhood, I wanted to try base jumping, with no possibility in coming years, I tried jumping from 3rd floor of a construction site into sand. I succeed.
What is your greatest fear, and how do you manage fearIJ
All fears i have which i keep with me until i want to me keep idle, when i start i keep fears aside.
What are your idealsIJ
Sailors and voyagers of old times who sailed to unknown, coping with their fears and hopes to come back to their families after finding new unknown lands.
How do you define successIJ
We can decide what success is, most time other define success for us.
What is the best way to achieve long-term successIJ
Do - think - do - improvise - think - do - add knowledge - think - do - think.
Where did your organization’s funding come from and how did you go about getting itIJ How did you obtain investors for your ventureIJ
Until now it was self-funded, then bootstrapped, we are so good to sell just anything that comes to our hands. But for larger operations we are now learning types and ways and opening ourselves or getting funded.
How do you build a successful customer baseIJ
We give people what they need.
How did you decide on the location for your businessIJ
It is customers perspective that decide this. otherwise business can run from mind also.
Do you believe there is some sort of pattern or formula to becoming a successful entrepreneurIJ
There is a person inside everyone listen to him, he will tell everything.
If you could talk to one person from history, who would it be and whyIJ
Giovanni di Bicci de' Medici, I sincerely doubt if anyone knows him, but if you know what that person knew, you have key or say magic to get all you wanted in life or afterlife.
Who has been your greatest inspirationIJ
Unknown sailors of ancient time ships who dared to travel to unknown waters with basic navigation tools and sound mind to keep their crew calm till they find new world lands.
What book has inspired you the mostIJ
The Wealth of Nations by Adam Smith.
What is your favorite aspect of being an entrepreneurIJ
I love what I do.
What has been your most satisfying moment in businessIJ
To watch it running, growing.
What do you feel is the major difference between entrepreneurs and those who work for someone elseIJ
There is no difference (if you really know what entrepreneur is), it is you who decided to do, who doing everything with your decision.
How do you go about marketing your businessIJ What has been your most successful form of marketingIJ
I can not disclose this, It is against company policy.
In one word, characterize your life as an entrepreneur.
Perseverance.
What are some of the biggest mistakes you’ve madeIJ
Traveling to Brazil without any hotel booking, Indian immigration held me for an hour questioning everything why i really wanted to go or if my visa is real, if i do not have any reservation, I do not know dates of football matches. Even after reaching there entire Rio de Janeiro was on holiday and I was deciding where to go first with luggage Copacabana beach or Football stadium.
How can you prevent mistakes or do damage controlIJ
No mistake is serious, it is other people who turn them in serious matter against you.
What are your hobbiesIJ What do you do in your non-work timeIJ
Reading, aero modeling, para gliding, cycling, learning new languages, running, driving, riding bike, standing on dams to feel strong winds, traveling, finding new things, list is much bigger.
What makes you happyIJ
I am happy makes me happy.
What sacrifices have you had to make to be a successful entrepreneurIJ
A so-called normal life.
Excluding yours, what company or business do you admire the mostIJ
Most people do not know them, but they really makes difference in everything of every day life.
Where you see yourself and your business in 5 yearsIJ 10 yearsIJ
I will show that to you after 5 years and 10 years.
What is your biggest plus point of businessIJ
I can sell pretty much anything.
What your potential investors feel excited or fear ofIJ
I can make money more than they can imagine, from places and ways they never thought of.
What growth rate you seen IJ
We achieved at highest 3200% growth rate.
What was your investment versus profit ratioIJ
It was around 1 : 75, for every I Rs we made 75 Rs
How you achieve this rateIJ
We rely more on high technology, modern methods and artificial intelligence