Simple and sociable. Far from the usual image of a chairman. Who would have thought that this down to earth man is the one who brought the world-renowned Outback Steakhouse chain of restaurants to Southeast Asia?
Prasoon Mukherjee is a business magnate, investor and philanthropist and a first-generation entrepreneur. At the early age of 26 years old, he started his first business in
trading crude oil. Just like any other entrepreneurs, he had his ups and downs but it didn’t prevent him to chase success. In 1995, Mukherjee established Universal Success Enterprises (USE) and ventured into energy trading, his first initiative as an entrepreneur. So how did he eventually become engaged in the restaurant industry? The chair of the (USE) Group fell in love right away with Outback when he dined in one of its restaurants in the US. This lead him to acquire a franchise of Outback Steakhouse and in year 2000, opened its first outlet in Southeast Asia.
With extensive years of experience being an entrepreneur, Balikbayan Magazine didn’t miss to ask for tips to aspiring entrepreneurs. In fact, these tips are very much applicable to everyone entrepreneurs or not.
01 Don’t Be Afraid To Take Risks.
One advantage of being a first-generation entrepreneur is being a risk-taker. Mukherjee remembers that he experienced failures along the way but these only helped him become better. “It’s liked being a child who has no fear. If he falls down from the bed, it will hurt. If a child didn’t fall, he will not learn how to get down from the bed.”
Entrepreneurs who take the risk might also fall down and fail but every time they fall, it teaches them to hold on to the other side – or strive to achieve success.
02 Success Comes From Giving.
One of the things we can admire from Outback SEA Chairman is his culture of giving. He learned this value from his mom. He can remember that even though they don’t have much, his mother still gives something to the needy. That’s why he believed that success comes sharing a part of your business, a part of your profit to the people. This is also one of the reasons why he loves working in Outback because the company shares the same mission.
Don’t restrain yourself when given a chance to help because there’s a larger community that needs help. Generosity generates blessing. Need a proof? Just take a look at how successful Outback Steakhouse is all over the world.
03 Never Walk Away From Your Commitment.
Don’t make promises if you cannot keep it. Cliché as it may sound but this is also true when it comes to business.
“Trust is the last thing in business. Once you lose trust, you lose everything.”
*Bonus Tips for Entrepreneurs:
01 Do enough research before venturing in any business.
02 Keep the company as low debt as possible. It doesn’t matter if the growth is slower because in time you’ll reap the rewards.
03 To keep the business in balance, don’t be hesitant to hire better people than you—people who can tell you that you’re wrong because this will help your business become better.