When Harsh Mariwala, Chairman of Marico Ltd started ASCENT Foundation, a peer-to-peer networking platform for entrepreneurs, his aim was to create an ecosystem where like-minded entrepreneurs can come together to share their professional experiences, challenges, highs and lows and can also manage to get solutions.

All of these, not by visiting consultants or advisors but by mutual discussions and also support from peer. Mariwala simply wanted to be an advisor or hand-holder who could help them solve problems and tackle challenges

In a recent conversation with Entrepreneur India, Mariwala shared five tips that could entrepreneurs embrace success.

Stand Out

As compared to when Mariwala started his career in the early 90s, businesses today are operating in the highly competitive environment.

And hence, he advised entrepreneurs to create right products or services to win through innovation in business ideas or models, which will help them stand out in the market.

Integrity

Mariwala stressed that entrepreneurs should think big, but at the same keep their feet on the ground evaluate the situation they are in.

Human Resource

A lot of veterans, including Mariwala, dislike the fact that entrepreneurs think they are the jack of all trades and want to do everything by themselves.

Instead, he suggested that entrepreneurs should invest in the right talent and delegate work to them.

Failure

Entrepreneurship is a risky and rough path and hence you are bound to experience some setbacks.

So, when it comes to failure, he recommended them to deal with it through resilience and perseverance.

Technology

With technology changing so fast, companies who fail to adapt to the change are likely to be irrelevant after a point of time and the businesses will suffer.

And hence, instead of looking at technology from a disruption point of view, he asked entrepreneurs to look at this change as an opportunity and work with grit to achieve their entrepreneurial goals.