Meet Parag Shah | Chief Mentor Of MIDAS | Founder & Director Of FLAME University | Philanthropist

Parag Shah is the chief mentor of MIDAS, an institution that gives a holistic approach to entrepreneurship and offers all the facets of entrepreneurial education. He is also founder & director of Flame University, an aspirational destination for students and faculty, to push the design and nature of studies and to create a societal up-gradation phenomenon particularly in the fields of liberal education and leadership.

He built the first Institute in India which has integrated 4 Crucibles of Entrepreneurship viz. Effectuation, Product Development, and Innovation, Critical Thinking and Writing and Incubation.

He is also the Managing Director of Oxford Golf and Country Club, ranked the best Golf Course in India and 1st in Asia as well. His passion for his work is reflected in the series of successful ventures he has initiated including a chain of Photofinishing Labs, becoming India’s biggest distributor for Nestle in their Vending machine operations, launching several Real Estate projects, and building and developing over 30 million Sft of space and venturing into education by starting FLAME.

Mr. Shah has completely changed the way Entrepreneurship education is done by combining Strategy, Critical Thought, and Innovation in his Entrepreneurship Courses. Prof. Shah is a passionate educationist and a teacher.

Today we got a chance to interview him, lets know more about him & learn from his inspirational journey.

We hope this can inspire you to become a successful person too! It is worth listening to a successful entrepreneur or to people who share their success stories. We can significantly learn many things from their experiences, by listening to their story.

Excerpts from our exclusive interview with Parag Shah:

Q1) Tell us a little bit about your journey, please;

My childhood was quite ordinary. I was an average student and hardly excelled in academics. I failed in my 12th science, but I repeated and passed with 75% in commerce. My father wanted me to be a doctor like he was, but I always wanted to do business.

The initial phases of my professional life were full of ups and downs, more downs than ups. With no prior work experience and a new business to look after, it was challenging to survive in those days. But with perseverance and hard work, things took a turn for the better, and I met better people, better business partners. And now, proudly, I am helping young entrepreneurs grow and make the best out of their business.

Q2) What was your key driving force to become an entrepreneur?

Entrepreneurs are self-motivated individuals who strive to do something new and unique on their own. My constant desire to create something new and bring in a fresh new perspective to things drove me towards entrepreneurship from the beginning. Even at a young age, I was not scared to take up a challenging problem, be it organizing a cricket tournament in a small town like Daund despite all odds. I was driven by the need to succeed, build a business of my own and control my own destiny.

Q3) How did you come up with the name of MIDAS?

MIDAS is an acronym for “Management, Innovation, Design, Arts and Social Sciences”. We wanted to build an institution that gives a holistic approach to entrepreneurship and offers all the facets of entrepreneurial education. Along with this was also the story of King Midas and his golden touch. We aspire to be that golden touch every entrepreneur should get to fulfill his dream.

Q4) Why should people choose your School of Entrepreneurship?

At MIDAS, we do not believe in the concept of teaching. We believe that we must get people who have succeeded and, even more importantly, people who have failed to come and share their experiences with budding entrepreneurs. It is like saying Shah Rukh Khan can coach the Indian Cricket Team and Dhoni can train actors. Just as this won’t work, we believe that Entrepreneurship must be taught by people who have been entrepreneurs and not Professors who have been teaching theoretical frameworks.

As an entrepreneur and a passionate educationist, helping others is genuinely making me alive and happy. So far, I have mentored over 400 students, and my goal is to create 10,000 successful entrepreneurs in India. I guide my students and clients to find success, happiness and live their life to the fullest.

Q5) What risks are you facing? 

Challenges and risks are part of our lives, and sometimes these challenges and ups and downs make us grow or find our path. At MIDAS, we believe that anyone and everyone can become an entrepreneur if they have the proper guidance, mentoring, and exposure. We believe that to become an entrepreneur, it is not necessary to have a specific educational background. MIDAS is different from the current education system. At MIDAS, our focus is on learning by doing.

Q6) What are your responsibilities as the business owner?

As a business owner who has now moved out of the day-to-day activities, I now like to focus more on building a larger picture for the organizations I have created and how we as a team can achieve it. For me, these organizations must make an impact in the business ecosystem. And while I enjoy my corporate sojourn, I also look forward to my teaching and mentoring sessions with budding entrepreneurs at MIDAS.

Q7) What is your greatest fear, and how do you manage fear?

My greatest fear has been not staying relevant.

The world around us is changing constantly and it’s important to keep up with the times. An entrepreneur has to always ensure his  solution or product is relevant to a current problem or demand

Q8) What comes first for you money or emotions?

Money will always be the by-product of your business. As an entrepreneur, you are responsible for the success as well as the failure of the business so it’s important to focus on becoming a person who will create a successful business. This requires you to be empathetic and aware of your emotions. Hence, for me, it will always be the emotions that come first.

Q9) What piece of advice would you give to college graduates who want to become entrepreneurs?

I would advise entrepreneurs to surround themselves with people who are more competent than they are. There is always something or the other you can learn from such people. And successful people like to share their experiences with young entrepreneurs. I see so many successful entrepreneurs who are surrounded by Yes men who feed into their egos. An entrepreneur must look for continuous growth.

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