Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Paritosh Pathak, Founder of Paritosh Pathak International LLP., located in Gurgaon, Haryana, India.
What's your business, and who are your customers?
Our business is about helping business owners, senior executives, and people at large – creating breakthroughs with the power of strategic networking. Mass research done by Carnegie Institute proves our ability to build, maintain and leverage relationships to lead people. This single ability is 85% responsible for our financial success. This one side of the ability is not really being taught through in the world with the zest and passion that it should be. That's the gap we are trying to fill.
We look at networking in 3 different aspects: Skill (looping in the Skillset), System (implementing the right systems of networking), and Strategy (implementing the right strategies of networking). We train and coach people in these three areas to help them create success. Our target audience and customers are business owners and senior executives in organizations - and among those who understand the importance of relationships - how vital they are for a business's and an organization's success.
Tell us about yourself
I never intended to get into this business. It was purely an accident. I was working with KPMG when I became friends with someone who was running a networking platform. Out of curiosity, I went in and attended one meeting. This meeting flipped a switch inside, and I just knew at that moment that this is the space I want to be in for the rest of my life. It felt like this is what I was looking for as a new chapter in my life. So I started by buying the franchise of the organization and setting up the platform - which was a very difficult journey. I went through over 363 rejections to get the 1st member in. But then I built a couple of chapters for that, and due to some philosophical differences, I went out of the franchise and became a trainer and coach.
Even when I was running the franchise I used to feel that people did not use the networking platforms the right way. Every day I would see people making mistakes and I used to think that one day I would launch my own program and help people cover these gaps. This opportunity came sooner than I expected, but it did. The motivation to continue doing this comes partly from the personal transformation that has come because of networking.
One of the most precious case studies of the work that I have is my own journey. We have built an enterprise today in an area that wasn’t believed to be trainable or coachable. We’ve got a global enterprise running with work spanning across continents. It has all happened through the power of networking. But this is a small part of it. A big part of the motivation comes from being able to enable and empower other people and watch their success stories unfold in front of your own eyes.
Today we have clients who joined our programs 10-12 years back. They are still in touch with us and continue to share their stories of how they are creating success since their transformation through the programs they have done with us. This and the core belief that we human beings are capable of achieving far more than what we think we can. This work is far deeper than the world sees networking to be – it is more than going to events, coming back, and following up. In order to become a Networker, we first have to change the relationship we have with ourselves. That changes everything around us. So all this put together is the power we have that motivates us.
What's your biggest accomplishment as a business owner?
We used to think that the biggest accomplishment was turning networking into a science. I lived many years of my life thinking that that's truly our achievement. But now I know that this was not perhaps the most valuable one. The most valuable achievement I consider today is staying on the path and not giving up. We have been in the business for the last 12 years, and out of these, 7-8 years were extremely hard. People weren't ready to accept the work we do, that this is a science. That it can be trained and coached on being able to not give up. Building something truly unique from that is what I consider to be the biggest achievement in our business. Then of course, other things that "proof is in the pudding" – when it comes down to the results that people create, that's just amazing!
What's one of the hardest things that come with being a business owner?
This is a very interesting question – The hardest thing that comes with being a business owner is working with how alone you are in your business. Every day you see business as a single entity, you can see the different moving parts. There are very few people in your team who are able to understand the business from that perspective. It could be because the brain works differently, or they haven't been in the business long enough. But it can get quite lonely at the top. That's one part. The other part is to change that.
Building a team that can understand the business from that perspective. Surround yourself with the right kind of people with whom you can share your ideas, people who can be honest with you, people who can call a spade a spade, and who can give you the right advice. More than anything, who can understand what you are going through – is a hard part. So it is the business owners who work on these two parts who feel far more satisfied and happy in the journey that they are in. Unfortunately, a lot of business owners don't realize that they are going through this. They go to the office, they work, and they do things. It could be because they haven't been taught the power of having a strong circle of influence, or it could be that they have just believed that they have to do it alone. That is extremely challenging.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
Here are the top 3 advice I would give to anyone looking to launch their own business in their current days:
- From the very 1st day, do not fall into the expert trap. This means that if you are a trainer or coach and you are starting a business, then don't work like a trainer or coach. Work like an entrepreneur whose product is training and coaching. Experts often tend to work for their own gratification rather than for profit. This is the biggest reason that too many entrepreneurs are struggling today. They are going out there and saying that they want more work, but the objective of a business is to create profits. In being good at what you do, you have a technical capability, and you have confidence. So from the get-go, understand how you can convert that into profits. Do not lose sight of this.
- Don't look at feeling successful, but look at becoming successful. In the short term, a lot of entrepreneurs want to do things that make them feel successful. It could be about getting the right kind of office, or about having a nice, sexy website, etc. You got to be very clear about what success means to you and do not be fooled by these emotional traps of what makes you feel good. Just completely focus on what makes your business good. It is okay for you to take time, it's okay for you to take challenges, and it's okay to even struggle. I'm not glorifying struggle here. You don't have to struggle unnecessarily. But sometimes, it's part of the game. It is okay to do that. But understand what a successful business means and do not lose sight of that.
- Always remember that you will never have one business. You will always have two. One will be the business of your product or service that you are running. The other one is going to be the human enterprise, which is you. You are also a business. Your business is going to grow as far as you grow. If you have mental barriers, fears, limitations, or limiting beliefs – then they are going to come and impact your business. So while building your product or services business, make sure you also build yourself, invest in yourself, and have your own mentors, advisors, trainers, and coaches. You go to retreats, take some downtime, and go on holidays. All of these, while intangible, are equally important for your success. So grow your human enterprise.
Where can people find you and your business?
Website: https://www.paritoshpathak.com/
Facebook: https://www.facebook.com/pathak.paritosh
Instagram: https://www.instagram.com/paritoshpathakint/
LinkedIn: https://www.linkedin.com/in/pathakparitosh/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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