MAGAS - SERVICE MEDIA
Published 2022-06-11 04:53:45
“Failures faced step by step lead to greater strength in meeting success milestones.”
Evencio Quadros might not strike one as a hugely successful entrepreneur in the strictest sense of the term, but that he has unique business instincts is abundantly clear. His daring is without question, as has been demonstrated in the way he courageously handled the immense ups and downs of business. From dealing with severe setbacks and debt commitment failures, arising from sudden administrative forms like demonetization and political changes, to galvanizing and encouraging entrepreneurship, especially in the aftermath of COVID, Evencio has been through it all, taken them on the chin, and emerged triumphant.
We recognize Evencio's qualities and wish him well as his business grows from strength to strength.
Can you tell us something about your company? What does it do and to whom do you cater?
Quadros Autotech Ltd. is the name of our company. This company basically caters to automobile needs. Presently, we are authorized dealers for Jawa and Yezdi motorcycle brands and Vespa-Aprilia scooter brands. We also operate multi-brand four-wheeler service workshops, which cater to four-wheeler service including spare parts, denting, painting, and technical advisory.
How did it all start? What was your key driving force in becoming an entrepreneur?
I remember that I got the initial sparks of entrepreneurship from my father in my school days, as he had a small business during the Portuguese rule. I could see my passion for entrepreneurship growing during my theological studies, and I was given the charge of poultry farming as a self-sustaining project for students. After my MBA studies, I wanted to begin a startup enterprise in retail. However, my father was dead against it, saying “ Business is not meant for you." But my siblings backed me up and supported me on my journey of failures and successes. It all started as a roadside two-wheeler garage in a mining-dominated village of Savordem My key driving force was creating jobs, which in turn created wealth for our community.
Can you share something about the initial challenges you faced while starting up?
Having just completed my M.B.A. in 1995 in Mumbai and having no financial support to begin a startup in Goa, I mustered up a few thousand from friends and relatives who, however, later opted out, seeing no returns as quickly as they thought they would be. I then approached a PSU Bank for a loan under the PMRY Scheme, got peanuts but survived the struggle to be an entrepreneur.
Your ability to get a large group of entrepreneurs together so quickly is amazing. What was your inspiration to motivate other Goans to get into entrepreneurship and carve out a future in Goa instead of migrating to other lands?
Getting a large group of entrepreneurs together was a big challenge especially because it was a community group.
I understand that different communities have their own platforms. This is good because their identities, cultures, and traditions are unique. Through a lot of questioning done to the migrating youth, I discovered many reasons: first it was for economic prospects for those who were educated and money prospects for those not so educated.
Goa’s identity, culture, and traditions will be lost if Goans continue migrating like it's happening now. So, to create opportunities here, an entrepreneurial mindset change is the only solution. Unless someone or some institution creates opportunities here, migration will not lessen.
In view of the fiercely competitive environment in today’s business, what do you feel are your own company’s competitive advantages; the factors that make it stand in the crowd?
Innovation and new ideas are the keys to taking on the competition, and we use these tools efficiently. Also, in this difficult time, it is important to take care of micro-managerial assets like reducing purchase costs, proper staffing, and a good human resource incentives, which will lead to higher margins. It's a good opportunity to create reserves to fight off future business wars.
Personally attending to and taking charge of branding, PR, communications, leadership accountability, and responsibility has been a differentiating factor over the last 25 years.
Knowing what you know now, is there anything you would have done differently when you first started out?
Assessing the effectiveness of various marketing and branding strategies would have provided a micro and macro view of the efficiency of these tools. This would have saved a lot of costs which were incurred due to improper assessment of our marketing strategies. Micromanagement at higher levels of decision is specifically required at a time of business expansion.
Could you tell us about your greatest entrepreneurial achievement that you are proud of?
My greatest entrepreneurial achievement has been the formation of “Goa Dimensions", which has committed members to drive it to new heights and also the beginning of Goa Global CCCI, which started during COVID times and which is an online platform. It has created value for a lot of small community businesses.
Conversely, would you care to share some of your failures and the best lessons you have learned from them?
We have had our own failures, which began mostly with external factors, beginning with administrative reforms like demonetization and GST. Now we have successfully addressed these issues and their impact, and we have come back on track to continuously grow with stronger foundations. Failures are a part of success stories. Failures faced step by step lead to greater strength in meeting success milestones.
What and why are the 3 most important things for you in your business?
Human Resource management, fiscal discipline,tod brand image. These are the key pillars of any business.
How do you define success?
Fight failures head-on and success will easily come to you.
What is your opinion, are the 5 key skills needed to become a successful entrepreneur? What advice would you give someone who is trying to become an entrepreneur?
Consistency and financial back-up in an emergency, patience in getting results, clear PR activity and a well-executed plan, hands-on knowledge of business, and the mindset of an entrepreneur are essential to being an entrepreneur.