As Sri Lankan entrepreneurs we also need to look at other markets apart from Sri Lanka to earn foreign revenue. And as entrepreneurs it’s vital to develop a sense of urgency and a vision of opening up new opportunities outside Sri Lanka to reach out to investors, connect with Sri Lankans abroad to pick on opportunities and work on innovative business models.
Dhanushka Fernando – Founder / CEO,
Finez Capital Ventures,
By : Sabrina Zavahir
Entrepreneurs are constantly powered by their visions and passions. They have been the engine for creating new job opportunities while assisting in generating revenue, evolving in continuous innovation, enhancing efficiency and improving business models and processes.
Entrepreneurship can be considered the cornerstone of the unrestricted enterprise structured systems implemented around the globe. Global CEO – connected with Dhanushka Fernando – Founder / CEO, Finez Capital Ventures, on income generation, economic growth, and contribution to sustainable development goals with an entrepreneurial drive.
Q: The plague which was experienced a few years ago with gray areas still being experienced may have laid a platform with waste to great swathes of any chosen industry. This also fueled an extraordinary surge in startups and new small businesses, as those laid off from affected firms were forced to explore new opportunities. How do you see Sri Lankan Entrepreneurs connecting to this thought sense?
First of all if you an entrepreneur it’s important to develop an entrepreneurial mindset to see any challenge as an opportunity. As challenges only can fuel new thinking and innovation to do better. Even during Covid industries such as healthcare, technology, and online relating etc saw a massive boom. Even in Sri Lanka there was a surge in online delivery related businesses and innovative healthcare related businesses. Therefore it’s important for any entrepreneur to look at adopting to new technologies and always keeping ahead of the curve when it comes to businesses.
As Sri Lankan entrepreneurs we also need to look at other markets apart from Sri Lanka to earn foreign revenue. And as entrepreneurs it’s vital to develop a sense of urgency and a vision of opening up new opportunities outside Sri Lanka. Reaching out to investors to connecting with Sri Lankans abroad to pick on opportunities and working on innovative business models.
World is moving irrespective of all the issues and if you are an entrepreneur you need to learn the art and science of evolving with these changing times and circumstances.
Q: Regardless of how anyone can structure or define a definition of entrepreneurship, certainly it isn’t easy. I am sure you can share your expertise regarding the optimistic approach toward this mission of being successful!
Well success in entrepreneurship shouldn’t only be measured with the amount of profit or revenue one would make but rather through the impact one would leave behind. So for me entrepreneurship is about adding value. Adding value to your customers, adding value to your team members, adding value to the community and society as a whole through your operations.
This requires to rethink our value models and purpose any business venture to serve the greater good, specially in a society like Sri Lanka where I believe entrepreneurs have a key role to play towards the betterment of our country.
Once you understand this there is great support you would gain too from all the stakeholders around you.
Q: It’s been given to understand that entrepreneurs play a key role in any economy, using their skills and initiatives that are necessary to anticipate needs in expediting productive new ideas to market. In your perspective, what sort of industries should be focused on considering a Sri Lankan market of course to boost sales turnovers?
Right now I would say export oriented industries as long as they can repurpose the business models and have products and services that can be competed internationally. Specially agriculture, value added crops and also KPO and BPO related industries have bigger opportunities in this regard.
Therefore in developing business models it’s important to study these areas and obtain guidance to from more experienced and seasoned businessman and also entrepreneurs. And reaching out to Sri Lankans living abroad too to understand the market conditions in other countries.
Research and partnerships also plays a big role when it comes to reaching out to other markets.
Q: There might have been certain strategies that worked well early in the business that isn’t so useful at present. How should a business founder make that swift change considering a sustainable transformation?
It’s vital for any business to adopt to the changes in the market very fast. As the market and environment for business changes at a rapid pace around us, I would say learning and unlearning plays a key role in this regard. What we knew five years back is not relevant at present with so much technological and environmental factor changes and advancements. So it’s important to constantly learn and keep one’s self ahead of the curve when it comes to entrepreneurship and business.
Also business strategies adopted should be measured and evaluated constantly and tweaked to suit market conditions. And at the same times it’s vital to have the right team around you to drive the business forward. Another important strategy to master is delegation and getting your team to stick to one common purpose to fuel growth overall.
And also keep on innovating and challenging the norm and develop a sound entrepreneurial mindset.
