Letters / 'a better position to launch my next business venture' - letter of motivation [4]

Hi all,

I have been able to write this essay for my applications. I can't read it again and again and hence I need some new perspectives on it. Also, it is quite lengthy so I need to make it concise. Kindly help.

I am not confident of the flow too. Any help would be appreciated.

Thank you.

Letter of Motivation - Business Venture

If anyone were to ask me what drives me, I would say the desire to simplify and innovate. Particularly, the automobile as an invention has always been my subject of interest. My dire lust for automobiles shows the mechanical engineer assimilated in me. When I studied about Wankel engines in my coursework, I was forced to think hard about how simplicity can lead to big innovations and that is when I developed a deep desire to provide simpler solutions by innovating. Simple ideas have given rise to many mechanical marvels today. I believe there are a lot of possibilities waiting to be tapped into and I envisioned these to be a dream come through one day as I see myself applying this mechanical aptitude to greater use.

My long term dream is to have my own automobile manufacturing company which manufactures cars entirely based on customer needs. In the next 10 years I see myself as an owner of car dealerships. To fulfil my dream I had to take the risk of quitting my job and take a tiny step into venture building. After getting some good experience at XXX, I moved out of the company to start my own venture: ZZZ. I, along with a friend of mine started our entrepreneurial journey with this company. ZZZ was our attempt at solving and simplifying the car buy experience in YYY. We aimed at providing a one stop solution to all car needs. When we started off with car consulting, the business idea appealed to everyone. Though the idea was very novel in YYY, after a point we were sliding two steps back for every step forward.

During our research phase, we were approached by ABC, a USD c. 100 million structured private equity fund to understand the car modification industry in YYY. ABC was in the process of acquiring BCA, a leading car modification company based in YYY and we submitted a report within one month to assist ABC with its due diligence work.

The whole experience of building a new company was incredible. I had to assume the roles of a founder, designer, marketer, social media expert, accountant and even the receptionist of our company. I wrote articles, understood the back end of website development and even made business plans to pitch the idea to prospective investors. The key learning was that it is not only the skills you have that matter but how quickly and efficiently one is able to apply those skills. It is here where I felt the need to hone my skill set and study the program that would help achieve this.

My inclination towards technology led me to do my undergraduate studies in Mechanical Engineering from the well known CCC. As a student, I excelled in my academics by clearing my engineering with a First Class. I had a penchant for analysing the lessons taught in the classroom from a practical approach and this helped me to develop a clear understanding of various theoretical concepts.

Despite the demanding academic commitments, I was very active in various extra-curricular activities. The concepts that I learnt in the class room were put to use when I became the Drivetrain System Head of my college's formula student racing team known as CCC. We were a group of students from diverse branches of engineering, who designed and fabricated a formula style race car for the international engineering design competition known as Formula Student Germany (FSG). FSG is the most rigorous and stringent competition as compared to similar competitions held around the world. To compete against the best teams in the world was in itself a feat. As a team, we exceeded all expectations and were awarded the best improved team among 78 teams from 19 different countries in 2009. Designing the drivetrain system of the car required a thorough understanding of the various engineering concepts and the project helped me to develop a meticulous and organised way of researching, designing and developing a system. This experience, I am sure will help me in all of my future projects.

In addition to assuming various technical roles, I was also the Publicity manager in 2009 and Marketing executive in 2010 for CCC. The entire project of designing and fabricating the race car and logistics to transport the team and the car to and from Germany was funded through sponsorship to the tune of USD 20,000. By rising from a volunteer initially in CCC, to becoming the Drivetrain system head, I have had the opportunity to experience the entire gamut of an organisational structure and have come to understand the roles and responsibilities at each level.

Through my involvement in CCC, I have developed important skills for a techno-management role. As Publicity Manager and Marketing Executive, I interacted with many investors and entrepreneurs and benefitted greatly from their expert opinions on various marketing concepts and strategies. Interacting with them and explaining the project was a challenging task as it required in-depth understanding and analysis of various parameters such as the technical features of the car, the market potential and penetration, risk analysis for investor's money, and time frame for return on investment.

I was also one of the few students from my college, who had the opportunity to participate in the international FSG competition for two consecutive years. The experiences of the competition were invaluable and interacting with students from diverse backgrounds and understanding their mindset and attitudes have helped me to develop a broader perspective in my thinking. I was impressed by the meticulous way of working of my German counterparts and it inspired me to imbibe those qualities in my own methods. This also led to learning German from the Goethe-Institute.

After my undergraduate studies, I joined as an Analyst at XXX where I was a part of the BBB unit. My role in the company was valuations of capital equipments using sales comparison, discounted cash flow method, direct capitalisation method, depreciated replacement cost method and in-depth research of various equipments. Working in XXX has given me an opportunity to meet key people of various leading organisations and learn from them the complex thinking process that goes into decision making of various natures. My manager always pushed me into learning different aspects of businesses. Apart from my regular work I also had the opportunity to attend various meetings with key decision makers of various companies; this experience was very exciting and knowledge imbibing. I had the opportunity to work on assignments of companies like *companies*. Not only did it cover different kinds of industries, learning different aspects of decision making was invaluable.

I am confident, courses like Business Feasibility Planning and Decision and Risk Analysis would put me in a better position to launch my next venture. I am sure that I will be able to learn from as well as contribute to the stimulating and intellectual environment of your university. This program, I believe, will act as a spring board to launch my career as a business leader in the field of Automobiles.