ED CASE – 1

NAME: PRATIK VILAS DETHE

ROLL NO: 20MBAMKT113
DIV-B

SUMMARY:

This is a case based on life of a young dreamer who became successful with his smart attitude
and hard work. He started his own business at very young age of 17 when he had a idea to
became an entrepreneur. The age where most of the children waste their time, he started honing
his skill in making ice cream in Mysore. He didn’t waste any time and keep selling his ice cream
after college, during weekends and even in holidays. After his operation suspended by health
department instead of stopping, he obtains proper permit and keep doing hard work. He was
smart to add his friends and family into the business, the people he can trust and with his efforts
at the age of 26 he became the major distributor of specialty ice-cream. There were people who
though that his success is just a good luck and it was an accident that he became successful in
this field. But Deepak was focused on his work and keep thinking how to grow his business.

Facts:

 Deepak Joshi was 17 years old when started his business.

 He learned about creating different ice-cream flavors at Mysore.
 After demand increased above his capacity, he started to hire help and buy new
equipment.
 His friends and family joined his business.
 At age of 26 he became major distributer of specialty ice cream.
 Deepak was always careful about expenses and tried to avoid debts.
Analysis:

Q1) Identify the entrepreneurial characteristics of Deepak Joshi. How do they match the
characteristics described for successful entrepreneur?

Ans: following are some characteristics of Deepak Joshi,

 Creativity: This is the most important characteristic that Deepak have, because in this
field of ice-cream production the main thing required is to be innovative and creative so
that you can attract the customers to your product. Because of his specialty in ice-cream
his product got sold and die to that he became a major distributer of ice-cream.

 High energy: Deepak is working in this business since he was 17 years old and during
this period he never tried to relax. He even sold ice-cream during weekends and
vacations. So, we can easily see this characteristic in Deepak that he is very energetic
person.

 Calculated risk taking and risk sharing: Deepak was always careful with his expenses
and always tried to avoid debt. Even he has a chance of expanding his business he still
thinks carefully about every step before taking any action.

Q2) Take the position regarding the decision Deepak facing on whether to expand into the
chain of ice cream parlor.

Ans: In my opinion Deepak should take a step further and expand his business. There could be
some financial challenges but Deepak have a lot of experience in this field and he should use this
experience to go and expand his business. Every business has its own risks but it should not stop
him. He should calculate all the factor and create a plan and according to it he should take
actions, because it is his dream and he should get out of his comfort zone and start working for it.

Q3) Based on what you know about Deepak and what you believe his characteristic to be
Would you say his success was due to luck or persistence? Explain. How does luck pays
Role in new venture?

Ans: Based on Deepak’s characteristics He is a very hard-working person he started his business
on his own. Before taking any step, he always thinks about the consequences and because of that
he became a successful entrepreneur. He is very persistence due to which he became successful
but luck also plays a part in his success. Luck plays a crucial and significant role in Life,
Investing and even Startup Success. There are so many entrepreneurs who go with there hunch
and got lucky and became successful entrepreneurs. There are some factors which are not in the
hands of protractor so it all depend on luck. In Deepak’s case he was lucky to have good friends
to work with. As an entrepreneur Deepak quickly realize that there are no guarantees of success.
The journey of owning a business shows that despite the best research and planning, there are
unavoidable twists of fate that can raise your business to the next level or just as easily bring it to
its knees. So luck also plays a big role in the success of a business.