You are a perfect example of an armchair guru. Since you have never been an entrepreneur mouthing some words to sound businesslike comes easy. Your reference to East-West is incorrect. It failed because its MD was shot dead, just like Raj Travels failed when its MD committed suicide.
It is a known fact that out of 100 start-ups set up, most will not survive year 1, year 5, and year 10. Conglomerates globally survive all major crises. So please avoid advising entrepreneurs when it is clearly not your forte.
The reason entrepreneurs rarely survive in India is the politics of the country and the fabric of its politicians. Try to resolve this side of things through your words.
11.33 AM Sep 28th 2012