Mid-day Restaurant Awards 2019: Taste for business

'Get out of your comfort zone'

Rojita Tiwari
Founder, Drinks and Destinations

There's no set formula to becoming a successful entrepreneur, especially in a field like mine. However, there are a few key questions to ask: Are you passionate about what you do? Do you have the patience of a saint? Are you prepared to make sacrifices? Ready to jump out of your comfort zone? You know you have found your calling when you start losing sleep over it. Make a plan of action for the next few months or a year, and follow it rigorously. Find someone who inspires you and take guidance. Also, be aware of your competition but never follow in their footsteps. Be original. Lastly, keep upgrading your skill set. I'm often asked about why I chose this field. But it's the other way round. I began writing for a beverage magazine by accident; the stories inspired me to dig deeper. Soon, I began to immerse myself in the world of wine and spirits. Travelling across the world to find these stories is what keeps me going.

'Be passionate'

Pankil Shah
Co-founder, Neighbourhood Hospitality

Our first venture, Woodside Inn Colaba, taught me the most. I was 26, and everyone is afraid of failure at that age. The drive came from passion and the willingness to learn. Till date, I have not stopped doing that. I look forward to going to work every day, no matter how tough it is. So, my mantra is to be passionate about what you do. I take the steam off with yoga thrice a week. It is important to develop a balanced mind and not react negatively in every situation, as it can be more detrimental than helpful. You acquire this balance when you have been through a hard time. In the last 11 years, we have struggled, but when we look back, it has been amazing. Even when we opened The Pantry seven years ago, we were trying to push our philosophy of fresh, local, organic and seasonal food. And I recall how patrons would demand for Italian or Swiss cheese over Pondicherry cheese!

'Chase success'

Anurag Katriar
CEO, deGustibus Hospitality

Very often, entrepreneurs try to run their businesses solely on Excel spreadsheets. That's a huge mistake. The F&B business is experiential and requires a different approach. Numbers are an outcome of what we do and not vice-versa. For example, just like how you cannot tell an artiste to produce a great canvas within a limited cost, you cannot ask a chef to produce spectacular dishes within a budget. The job of the chef is to use the best ingredients and correct cooking techniques, and marry it with creativity. A great product at a higher price is more likely to succeed than a mediocre product at a cheaper price; and I am not even factoring the adverse impact a poor product can have on your brand. On the business front, I advise players to keep the fixed operating expenses to the minimum.
My mantra: chase success.

'Be agile and dynamic'

Keshav Prakash
Founder, The Vault Collection

Four years ago, I followed my passion, and from being an adman, I became the co-founder of a whisky-centric import house representing over 30 small and independent distillers from around the world. I relied on a well-planned overall structure and business model and answered important questions to understand what my vision should be. For example: was I creating a new market or snatching market share from a potential competitor? My wife, Anjan, and I were foraying into something that was new. We followed our gut. I would tell rising entrepreneurs to define the ethos of their company and stick to it unless they are shifting the goal post, which by the way should not be set in stone unless the model proves itself in the beta phase. Never be shy of being agile and dynamically responsive to a market based on initial learnings. We stuck to our mantra of building the culture of fine spirits appreciation and continue to provide access to craft spirits to a defined audience.

'Be yourself'

Moina Oberoi
Founder, MO's Superfoods

Success is ambiguous but I connect to one of its many synonyms: realisation. My success philosophy is to realise what it really means and start walking towards the truth. If it's the wrong path, introspect and try another route but do not entertain fear and doubt. From running a bohemian garment business in 2005 to photography, food writing, working in business development for a wine company, marketing for an organic food venture to serving as an assistant GM for a restaurant, I was often made to feel I was wasting my time, career and life. When I launched MO's Superfoods, each of those skills and experiences and the network I had built came to use. To be successful is to simply
be yourself.

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