Apr 24 2014.
views 3754Today we launch a new column profiling young entrepreneurs. People who have dared to take the plunge and start up their own business. They speak to us about their business ideas, reasons for success and the hard graft they put in to make their enterprises a success.
Thoshan Ediriwira is a young man with a hunger to succeed. Starting out his career in the media, he has worked as a DJ and also owned Kamikaze.. Lured by the hospitality industry, Thoshan started up Kami Maki, a popular sushi bar in Colombo, in addition to Plan B Event and Venue Management (Pvt.) Ltd., the event management company he runs. He shares the ups and downs of his life as a young entrepreneur.
When did you first get the idea for your business and what did you do towards making it a reality?
I started my career in media and after 6 years or so felt that maybe I was not quite on the path to reach certain goals I had set. That was the main reason to start up my own business. To be fair, I now think I maybe was being very presumptuous at the time – but I guess I’ll chalk it down to the age. What I did was to quit my job, rent a small office and worked my fingers to the bone!
What is the single most important reason for your success?
Innovation. In any competitive field one has to be innovative and adapt. I firmly believe that change is the only constant in life. Otherwise you become a dinosaur – and we know what happened to them!
How did you come up with this idea?
My background is media - I first started work in Radio and TV. The marketing, management and advertising knowledge I gained through my media days has helped me with Plan B Event and Venue Management (Pvt) Ltd. – be it for whatever events or brands or venues we handle.
How do you balance work, life and friends?
Thankfully, it's a lot easier now as I’ve got really good staff and management who’ve been with me for a while. However, when I first started I used to work 16-18 hours a day more often than not. I firmly believe delegation is key in maintaining a balance.
What were your most difficult obstacles when starting your business?
I’d say the biggest obstacle was mental, getting in to the right frame of mind to take on such a challenge. Taking the decision to start up was the toughest. It’s a risk and you have to consider a lot of angles.
Any advice for young people who don’t have the courage to start up their business?
At the start it will only be you, but believe in your product or service fully. Then try to make that product or service all that you believe it could be. Take the step with an open mind and don’t rush in and act on whims. Most start ups crash within the first year so plan, plan and plan!
How old were you when you started your business?
I was 24 – in 2003.
If you could add a famous entrepreneur to your team who would it be and why?
In my generation I’d say Mark Zuckerburg. Becoming a billionaire at the age of 23 and being in the top 20 of the world’s richest by 29 says a bit. He had one idea and he perfected it through sheer vision.
How did you get the capital to start up your venture?
It was whatever savings I had accumulated. It wasn’t much, but it had to do.
What is your “Golden Rule” in business?
Wow, I don’t think there’s just one… but if I were to make a pick I’d say paying attention to detail. Doing the ordinary things, as best as possible.
Where do you hope to see your business in 5 years time?
On Wall Street? Well one can wish! I guess I would like to see the event management business at a point where we deal with some of the top brands, partners and names in the world. As for the venue management – I’d like to have a successful chain of franchises in Sri Lanka and South Asia. On this, the wheels are already rolling. Fingers crossed!
By Tina Edward Gunawardhana
0 Comments
NayanaTara Hemanthi Ediriwira says:
May 08, 2014 at 12:00 amCongratulations and Well done Thoshan Ediriwira! Hope you will achieve your future business plans and be successful in all that you do. Good Luck. xx