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This year, we had the opportunity and pleasure to meet at Business Days, one of most experienced entrepreneur as well as a best selling author, motivational speaker, workshop leader and EntrepreneurSHIP coach and mentor. The Founding CEO of EPIS, Shakti Holistic International and EPSG Fund, he has over 20 years work experience with several Blue Chip organizations such as IBM, Sun Microsystem (Oracle) and Siemens as well as founding companies and investment funds in a variety of different industries, Mr. Mru Patel

1. First of all, thank you very much for your time, please tell us, who is Mru Patel?

Mru Patel: I was born and raised in Kenya, East Africa until the age of 15 when my family moved to the UK, largely due to educational and security reasons as we were all born British Citizens. A graduate from University of Brighton (UK), he has established successful businesses in real estate, authoring and branding, personal transformation, health and wellness, business coaching and social media.

 ‘’Mru Patel is a distinguished and highly acclaimed Life Coach, Entrepreneur and Best Selling Author in UK. A philanthropist and a well travelled visionary, he has a vision to inspire generations of entrepreneurs by helping them reach success in their field as well as to improve today’s economy and society by leveraging on the entrepreneurial spirit. Backed by an experience of more than 3 decades, he is a serial entrepreneur himself and has witnessed success in whichever business he has stepped into.’’’

2. As a child, did you imagined to grow up as a successful business owner?

 Mru Patel: My entrepreneurial calling was already loud and clear before I had moved to the UK. One of the main businesses my Late father had was a metal and steel business and I used to love designing my own toys and selling them to my friends for money or trade them for better toys. I recall making a power boat controlled by battery from a small fan which I turned into a propeller for the water when I was just 12 (1972) and sold it for just 20 Shillings (then about $1 and now less than 20 cents). As I grew older I used to offer a variety of services around my community such as teaching my friends different sports, trading sports equipment and making table tennis bats for certain friends. I have always been a traveller and a true international resident – I’ve lived and worked in 4 continents and several countries, and now reside inbetween UK, Dubai and Romania.

Being born in a family surrounded by entrepreneurs experience for over 3 generations, I guess I can say it’s in my blood. With nearly a personal 30 years’ experience and businesses as an entrepreneur in start-ups, Real Estate, Blue Chip IT companies, angel investments, stock trading and investing, internet solutions, Book Authoring and publishing, coaching and mentoring and health and wellness; I have a truely international experience to assist all those with business opportunities. That coupled with working with various sectors like Public sector, retail, finance, telecoms, technology, manufacturing to name but a few, My speciality lies with coaching/ mentoring, gaining new clients and increasing revenue and my work is always results-based. I have worked with small and large corporations to increase profits and realign business plans, and have set up several investment and startups of my own.

3. Why did you choose Romania?

Mru Patel: I was in the corporate world as well as private investor for personal financial freedom development. I then had enough of the corporate world and decided to follow my passion. I could still hear my entrepreneurial spirit screaming to be unleashed.  I researched emerging markets in Europe, especially Eastern Europe- and after 8 months of detailed inspection decided upon Romania and created my own Investment Fund in Real Estate. I did the research from the mind and not the heart. I did not visit any of the countries to be influenced, tainted or swayed by its beauty, lifestyle etc.

I was responsible for deal sourcing, co-investing, operating and managing a fund I setup as chairman/advisor and have since built significant asset base, deal flow, SPVs with projects, market knowledge and contact networks.

4. Which was the hardest moment in your business?

Mru Patel: First and foremost through my mistakes i found out cash is king and clients are super kings! Managing cashflow and reserves plus savings are also very important. I was taught from my dad to have savings plans, pension plans and oher securities. However my weak side made me tap into those during hard times and even made a very large mistake to loan friends and family large amounts of that cash which they did payback making me virtually bankcrupt and lose a lot of assets worh millions. A tough mistake learnt from experience was friends or family always have written agreements and security in all cases.

I always write down on a spreadsheet all my savings, income, outgoings that are fixed and other costs. This i managed well apart from the loans mistake as highlighted. This made me then to cut costs and adapt to the current climate.

5. How did you managed to pass it?

Mru Patel: We are currently in these trying times and its how we come out of it that matters. I will lose Millions but I guess will not be totally out. As for the debts created from my generosity to friends and family…only time will tell if the intentions to pay happens or not.

6. When is the best moment to start up a business? (in college, after that moment etc.)

Mru Patel: I started when I was 12 and seriously with a company and real estate at 24, when there was NO internet and mobile phones were just very new with just 30 mins talk time I recall. No laptops and PCs were new with just 16MB capacity. So I still started with IT as it had opportunity. Its all about the idea, market research and execution. Always have a coach and mentor with experience a that will speed up the progress.

7. What do you think about our website www.think-business.eu and our motto “think|plan|start” as steps for a new business owner?

Mru Patel: Motto is good. Havent explored the site much as it was in Romanian. 

8. Based on your experience, which are the “must-have” qualities for new entrepreneurs? 

Mru Patel: From my Branded series of books G Spot 2 Success – Fast Track your Business to Success here is my view;

As the global economy evolved, the concept of entrepreneurship has also changed but its three characteristics of being an organizer, risk bearer and innovator still remain intact. A true entrepreneur is all three! He/she can’t just be a creative maverick who has a bunch of ideas but does not know how to put two and two together to make four, or as I jokingly say 22.

• Entrepreneurs are risk bearers because they face inestimable and non-insurable uncertainties.
• Entrepreneurs are organizers because they arrange various resources to work together towards a common vision. 
• Entrepreneurs are innovators because they bring environmental change through their creativity and breakthrough thinking

Again from my book – The Ten Deadly Mistakes of Entrepreneurship:

1. Lack of any viable idea
2. Poor execution
3. Lack of knowledge
4. Bad financial planning
5. Complacency
6. No motivation
7. No vision
8. Distractions
9. No investment in talent or self education
10. Negative attitude

For your free copy of the book on how to fast track your business to success register at www.mrupatel.com