The Joys and Pangs of Running Your Own Business

On Saturday, 1 October, 2016 WE- Women Entrepreneurs’ Wing of WZCC hosted a session on The Joys and Pangs of Running Your Own Business. The event was attended by 40 members and guests, at Yiamus. Homai H Mehta, Chairperson, WE, gave a brief introduction to WE, the Women’s Wing of the World Zarathusti Chamber of Commerce (WZCC). She explained that WE did not just stand for Women Entrepreneurs but also for Women Empowerment. Professionals were as welcome as entrepreneurs to join WE, as opportunities for networking, mentorship and professional development were open to both. Behroze Daruwala, Chairperson of Women Entrepreneurs’ Wing – International Board, gave a brief introduction to Mr. Edul Daver, WZCC – Global President. She also stated that WE was established in 2012 to help women entrepreneurs and professionals to unleash their potential and excel in their business or profession. Mr. Edul Daver went on to outline WZCC’s vision for the next two years. He quoted, “Entrepreneurship is pursuit of opportunities beyond resources in our control.” He emphasised that it’s a two-way street for WZCC members, who have to give to receive. Everyone has to work hard with creativity, innovation and calculated risks. The first speaker, Nazneen Katrak, MD and Founder of Mustang Socks, was introduced by Homai Mehta. Mustang Socks was founded in 1987 by Nazneen and in 2004 Lubeina Shahpurwala joined her as Co-Founder. Today, Mustang manufactures more that 1 million pairs of socks every month and has 36 distributors across India. Nazneen started her business with an amount of Rs.500/- the balance Rs.500/- she borrowed from her Aunt. All she had was her belief in herself and in what they were doing. Today, they have tie-ups with some of the largest International Brands, Retailers and E-Retailers like Amazon, FirstCry and Hopscotch. Fifty percent of the workforce at Mustang is comprised of women, who are paid equal wages as men. Dolly Dhamodiwalla, immediate Past Chairperson and Committee member, WE, introduced the second speaker, Nainaz Shroff who is the Pioneer, ‘Innovator and Creator’ of the first wines in the world to be enjoyed with hot & spicy Indian foods. She achieved this status at a young age of just 21. She has been awarded for the INNOVATION of these wines which are termed as “TAYLOR& SHROFF Wines – Best Served Poured on Ice”.She makes five types of wines: WHITE, RED, APRICOT, CHERRY and GINGER. Nainaz has created her company’s own independent identity in the International Wine & Spirits industry, in the category of NEW WORLD WINES. Nainaz traced her journey as a young student on scholarship in the UK to her current status as Managing Director of Taylor and Shroff. It was interesting to hear how she converted a college project into a full-fledged wine-making business. Nainaz’ achievement is an inspiration for many young entrepreneurs trying to make their mark in the world of business. What makes her success even more remarkable is that she is able to hold her own in a male-dominated industry. After their address, the two speakers interacted with the audience in a question and answer round that was lively and educational. The evening concluded with a vote of thanks by Percis Dubash, Secretary, WE.