WIN's Entrepreneurial Initiative -- An Invitation

[Worldwide Indian Network]

	   This is an invitation from the Worldwide Indian Network (WIN) 
	to all Indians to explore with us the possibility of developing 
	effective and successful businesses.  Our goal is to lay the 
	foundation of an organization within WIN that will facilitate 
	communication and collaboration among people of varying skills 
	and resources.  We intend to foster an entrepreneurial spirit 
	among participants leading to the formation of new business 
	enterprises.

	   During the past half century, Indian politicians have talked 
	themselves into oblivion.  Nevertheless, in each election they 
	continue to get mandates from the people to lead the country in 
	the same direction.  Meanwhile, Japanese workers have built an 
	industrial marvel from a heap of ashes.  Today, Japanese 
	productivity is 12 times that of India, and its per capita gross 
	national product (GNP) is 105 times greater.

	   Following Japan's example would be a good way for India to 
	industrialize herself.  We have the main ingredient -- India has 
	the second largest reservoir of trained manpower in the world 
	(behind the United States).  What we seem to lack is an 
	entrepreneurial tradition which enables us to take risks, and a 
	spirit of cooperation which will make teamwork possible.

	   Henry Ford is the idol of many businessmen; 66 million people 
	around the world drive Ford cars every day.  Conrad Hilton is 
	another idol of many businessmen; 110 thousand people around the 
	world sleep in Hilton Hotels each night.  What we do not know is 
	how many Fords and how many Hiltons failed to realize their 
	ambitions.  Statistics show that 6.0% of start-ups in the United 
	States fail in the first two years.  And only 62.4% of new 
	businesses are still in existence ten years later.  We 
	definitely don't want to fall into the wrong side of that 
	statistic.

	   To this end, we need an organization that will bring together 
	individuals with complementary skills and a common interest in 
	establishing businesses.  Unless one has the right combination 
	of technical and managerial skills along with a sufficient 
	amount of money, the odds are against successfully establishing 
	a solo business.  If one has technical and managerial skills but 
	lacks financial resources, one will need an investor to support 
	any potential venture.  At the same time, investors and venture 
	capitalists need to draw upon people with technical and 
	managerial skills.

	   In addition to the satisfaction we entrepreneurs would 
	achieve for ourselves in establishing businesses, we would also 
	contribute something to our country.  The formation of 
	businesses creates jobs; in turn, the creation of jobs fuels 
	economic growth and prosperity.  A healthy economy can relieve 
	the misery and anguish of people by providing them with decent 
	jobs and can enable them to prosper by offering affordable goods 
	and services.

	   Productivity -- efficiency or output per person -- will 
	definitely take an upward turn once we form businesses.  First, 
	when a person owns his own business, he will be completely 
	committed to its success: he will have a heightened sense of 
	responsibility, he will allow himself no excuses.  Moreover, a 
	creative person, when working for someone else, is not always 
	free to explore his own sense of creativity.  As a business 
	owner, that same person is free to decide the best way to 
	accomplish his objectives.  He will then act with creativity, 
	good judgment, and with full awareness that the success of his 
	business depends primarily on his efforts.

	   Consumers have an enormous amount to gain if productivity 
	improves.  Efficient production leads to better goods at lower 
	prices, and lower prices mean people can have more: more food, 
	more clothes, more leisure, more variety, more of everything 
	money can buy.

	   Each time the Government of India has devalued the currency, 
	the leaders(?) have come up with a very persuasive argument for 
	the illiterate masses: "Exports will improve substantially," 
	they claim.  But the facts prove otherwise.  From 1979 to 1993 
	the rupee has lost three-quarter of its value -- it has 
	depreciated from Rs 8.076 to Rs 31.364 to a dollar.  During this 
	period the cumulative current account deficit of India amounts 
	to $64.11 billion.  In the same fifteen years, the yen has 
	doubled in value -- it has appreciated from Y219.140 to Y111.198 
	to a dollar.  Japan's cumulative current account surplus for 
	this period amounts to $764.47 billion.  What the demagogues in 
	India fail to realize -- or lack the courage to face -- is that 
	the key to improved economic conditions is PRODUCTIVITY.  Only 
	when productivity increases, do employment, incomes, and exports 
	rise.  Productivity growth is the engine that drives the long-
	run improvement of living standards.

	   Two kinds of investors -- those who invest their skills and 
	labor, and those who invest their money -- will compose this 
	organization.  Hopefully, each participant will contribute both 
	kinds of investments.

	   Those who invest their skills and labor will benefit in many 
	ways.  First, they will eliminate the middleman -- the employer 
	-- and receive the total benefits of their labor.  If the 
	employer pays an employee one dollar he does so only if he makes 
	at least two dollars out of the employee.  Moreover, because the 
	entrepreneurs will be their own bosses, they will derive greater 
	personal satisfaction from their work, and they will have 
	control over their own destiny.

	   The investors of money will also benefit in several ways.  
	They will receive a higher return on their savings.  If a bank 
	pays 5% interest, it is certainly making at least that amount 
	for itself.  By eliminating the middleman -- the bank -- and 
	investing directly in businesses, the investors receive the full 
	benefit of their savings.  Furthermore, they will own a portion 
	of a business, rather than simply giving money over to a bank 
	for the bank to invest.  Thus the investors will have direct 
	control over their money.

	   Finally, the channeling of funds from individuals who have 
	savings to others with productive investment opportunities will 
	be a tremendous boost for the economy and to the parties 
	involved in the exchange.  Each investor will have the great 
	satisfaction of knowing he is promoting the economic success of 
	India.

	   If you are willing to help your fellow Indians in forming 
	businesses, please send an e-mail to win at neu.edu.  Use the word 
	BUSINESS in the subject line, and your e-mail address (in small 
	letters only), home zip code, full name and telephone number(s) 
	in the body using the following format:

	bhalder at lynx.neu.edu : 02128 : Mr Biswanath Halder H617-567-0667