Blaise Noronha, Founder and CEO of Mercato Minds Pvt Ltd, emphasizes that passion alone is not enough to create a successful business. While enthusiasm and belief in one’s product are important, he says entrepreneurs must also understand the reality of running a business and plan carefully.
Blaise shared that many entrepreneurs assume that prior experience, skills, or confidence will automatically lead to success. However, real-world entrepreneurship often brings unexpected challenges. Customers may not understand technical language or strategy, and assumptions do not always work. It takes time to identify the true pain points of both entrepreneurs and customers before meaningful solutions can be developed.
He stresses the importance of research and data. Many entrepreneurs, especially first-time founders and women, hesitate to invest time or money in market study. Blaise points out that proper research reduces stress, lowers financial risks, and helps in making informed decisions. Data-driven planning, he says, is essential for long-term success.
One of the common mistakes he observes is resistance to accepting market intelligence. Entrepreneurs often ignore industry size, consumer behaviour, and competition until they face setbacks. Ironically, many avoid small investments in research but are willing to take large loans and risk capital without a clear plan. This mindset, he says, is a major reason businesses fail.
Blaise also highlights that businesses need regular evaluation, just like people get health check-ups or service their vehicles. Assessing strengths, weaknesses, and opportunities periodically ensures sustainable growth and prevents costly mistakes.
Regarding women entrepreneurs, he notes that most enter sectors like clothing, jewellery, and food. While these industries have potential, success depends on understanding local consumer preferences, supply chains, and market ecosystems. He also identifies other promising areas for women, such as training institutes, marketing and sales services, food consulting, branding, digital marketing, and daycare services.
In conclusion, Blaise Noronha advises that entrepreneurs move beyond passion alone. Businesses should be built on careful research, understanding of market size, realistic expectations, and structured planning. Learning from data and preparation, he says, is far better than learning through failure.
