Reliance Industries Chairman Mukesh Ambani has some serious advice for aspiring entrepreneurs: treat investor money like your own, and look for immediate returns.
Ambani, who was speaking at the Nasscom Leadership Forum on Wednesday, also stressed the importance of having the right team as a "non-negotiable" among other considerations.
Citing the business lessons taught by his late father Dhirubhai Ambani and the founder of Reliance Group, he said it's important to actively seek out problems to solve.
"It's not solving problems, but it is finding the problems. Once you find the problem, then you solve it," he said. "The first piece about entrepreneurship was taught to be my my father after I returned from the US...he told me if I want to do a job, I have to be a manager...an entrepreneur will figure out what to do."
Ambani also noted that entrepreneurs should also try to create "societal value" and not fear failure.
"You have to solve a problem that actually does good in some way. That has to be the objective and financial returns are actually a by-product," he said, adding that he had personally failed many times before succeeding.
With agency inputs.