Creative Entrepreneurship: How To Rake In The Moolah?
Setting up your own business is gratifying, and creative entrepreneurship is more so. Though it takes people some time to make money out of an art or a product, big bucks definitely lie in creative entrepreneurship.
At the Young Turks Conclave, a panel was dedicated to analysing how creative entrepreneurship is working out in India. Neha Kirpal, founder of India Art Fair, Vijay Nair, founder of OML, Ankur Jain, founder of Bira 91, and singer Jasleen Royal joined in the conversation with Parmesh Sahni, head of Culture Lab at Godrej.
“I started the business very early on, so the concept of other people putting in their money to run your business was very alien to me,” Vijay Nair, OML
Funding is generally what really takes any business to the next level and grows its capacity. So do creative entrepreneurs use different matrix to get funding or is it the same as any other business?
Neha said since nobody in our country saw art as a medium to generate enterprise, it was a completely different and challenging ball game for her. “Earlier, you weren’t an enterprise if you were to do anything with arts. So mainstreaming arts, making a structure for arts to enter the entrepreneurship field was very difficult and therefore, our starting point was different.”
Bira 91 is undoubtedly one of the most popular beers in town. Talking about it, Ankur said, “Especially in our case, because we are a real business with a real product, so our challenge was to demand genuine traction. Anything that is creatively inclined and consumer focused needs to have a human feeling. At the end of everything, it is about human needs and loving your product.”
While for Neha making art a medium to earn money was a challenge, for Ankur generating popularity was most important. Vijay said when he entered the business of event management, he had no clue how funding worked.
“I started the business very early on, so the concept of other people putting in their money to run your business was very alien to me,” Vijay Nair, OML.
One would agree that there is no dearth of singers in the country. But for one singer to surpass a million and become a voice of its own is rather tough. Jasleen Royal talked from her own experience and said, “As a single person, the bare minimum money you need to raise is yourself to present your skill set or product. For me, it has largely been by bartering like going to tours with other people etc,” said Jasleen.
With the start-up ecosystem becoming stronger and wider by the day, a large pool of people trying out different and unique ways in entrepreneurship is also coming along. This is only changing the game and making it more expansive in terms of the talent that we have and what we can do with it.
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