Recently, I wrote a post (link to the original post) about my boss and how he trusted me and trained me to take a leadership role to resolve a crisis.
I loved watching your comments, reactions and disagreements to the story. Engaging with any case study at this level brings a deeper understanding. I want to take this opportunity to highlight this comment I received on email.
SP is a ‘senior professional’ whose opinion I really respect. As you will read further, SP disagrees with my boss’ (referred to as “PC” in the post) method. Other readers have also reached out to me and discussed their thoughts about this anecdote. As a teacher, I am thrilled that the story invoked such a strong reaction. I also completely understand where SP and other readers are coming from, but I also wanted to clarify PC’s stance.
Here is an excerpt from my conversation with SP on email:
SP: In handling issues of routine crisis, I would have appreciated PC’s approach. However, in the present case, you were dealing with a chemical plant where any failure on your part could have led to dangerous life and death consequences for many. The Bhopal gas tragedy immediately comes to mind. A boss could not have taken the stand that PC did, i.e., hope that you would find a solution. He was playing with the lives of people. I am sorry to disagree with this example since I’ve been both, a post-graduate with an MSc in Chemistry who knows the hazards of chemicals, and an IPS officer who has faced many life and death critical situations!
KAPIL: Thank you very much SP Sir! You have really taken interest and gone through the story considering all issues within and around the story. Your opinion and apprehensions are absolutely in place. In fact, two of my close associates also brought up the question of the hazards and the risk to the lives of people. I now realise that I should have added a paragraph to clarify that this project had no such risks.
Anyway, let me take a moment to explain this to you, sir… This story is related to a chemical plant where there are no such risks about high-pressure reactions, poisonous gas leaks etc. The worst scenario could have been huge spillage and loss of slurry from filter pans (the big circus-like equipment that occupied an entire floor) which were open to the sky. It could have resulted only in huge financial loss and there was no danger to human lives at all.
Both PC and I were well aware of this, and it was true for everyone working in the plant. The only risk was from handling of concentrated sulfuric acid which was stored in closed tanks and brought to the reactor after adequate dilution. Another occupational hazard of this plant is the exposure to fluorine gas which can cause harm to human bones in the long run.
Sir, as I write this to you, I got to brush up on my chemistry and chemical engineering which I have almost forgotten. It was nostalgic! For over the last 30 years, I have been largely a business and management professional. But, I do hope that my reply clarified any apprehension you had. As an author, I should have touched upon this aspect of the story!
This was a part of a longer discussion we had. It goes to show how a good case study can open itself to so many learning moments.
If you recall the story, PC himself called me within an hour to check on me, without knowing if I had solved the situation or not! When I told him that I was successful, his few words of confidence (“I knew it!”) motivated me. It kept ringing in my ears for years to come!
As a writer, while communicating the stakes of the situation, I might have caused an unintentional misunderstanding where some of you imagined a tragic alternate ending! Rest assured, the stakes were only financial!
Let me know your thoughts on such anecdotes that I will continue to share, and let’s keep the conversation going.
This story is a true event, but I have changed the real names and places in the story for the sake of the characters’ privacy.
In 1975, I was working as a young chemical engineer in chemical process plants. My then- Project Chief deploys a somewhat unpleasant strategy to train me— one of his favourite engineers. In hindsight, I see it as practical training in leadership and troubleshooting!
I was a part of a project team of 20 engineers from various functional disciplines. We were handling a turn-key chemical project in western India. There were also around 30 plant operators, 20 office staff, and approximately 80 contract workmen. The entire project team consisted of 150 people who were being headed by our Project Chief. I shall address him as PC for the story.
PC was a renowned professional with over 4 decades of rich experience in project execution, plant operations, troubleshooting, and general management. His general management and administrative skills were extraordinary, and he was often a sought-after person for counsel and advice by many. Although he loved all his team members immensely, he was a hard taskmaster at the same time! He knew the art of practising a creative fusion of aggression and affection – or practising “tough love” if I may say so.
On this particular night, I was on project duty managing a 12-hour shift (from 8 PM to 8 AM) as a Shift In-Charge. Undoubtedly, it was a big responsibility but then I was well trained and had several years of experience in similar roles.
Everything was running smoothly from 8 PM to 12.30 AM but then suddenly after 12.40 AM or so, we noticed some abnormality in the plant. Certain operating conditions and control parameters were showing abnormal deviations. We felt as if the entire plant was getting out of our control! We experienced abnormal vibrations and sounds coming out from the Control Room floor. You could say it was similar to what one would hear during a bumpy ride or turbulent flight. Clearly, it was indicative of some major issues brewing that needed to be identified. I felt anxious, worried, and somewhat helpless! I was handling dangerous chemicals, for god sake!
I consulted my team members, pooled their opinions but I could sense that everyone was looking at me for help and advice. They were right in doing so. After all, I was their boss, and it was my responsibility to ensure that the plant gives an optimal performance during my shift. At a personal level too, I tried to analyse the problem and thought of several turn-around strategies but then I was not able to pinpoint the problem; forget finding the solution!
Frustrated and perplexed, I dialled the residential number of PC, my boss. It was the last step to take. I was hoping that he would give me an instant solution. But then the way our conversation unfolded compounded my problem!
These conversations are etched in my mind because of the night unravelled. I will list the series of brief conversations we had.
THE FIRST CALL AT 1:10 AM:
Anxiously, I called him and despite the unusual hour, he was typically calm.
PC – Hello! Tell me, Tandon… What I can do for you?
KT – Sir, there is a serious problem in the plant! (I narrate the problem to him.) I am not able to fix the same… What do you suggest we do, Sir?
PC – Sorry Tandon…I cannot help you! This is your job!
To my shock, he did not even let me protest. He had abruptly disconnected the call. I went back to work trying to work out something to report!
THE SECOND CALL AT 1.30 AM
After a few futile efforts to set right the plant’s condition, I again called PC with growing anxiety. But this time his tone had changed. He was mildly annoyed.
PC – Hello, PC speaking.
KT – Sir, I am not able to fix the problem!
I am sure he could read the desperation in my voice, but before I could say anything more, he cut me off…
PC – I was under the impression that you were a first-class Chemical Engineer!
He disconnected the call again. I kept wondering about how he could reprimand me at such a crucial juncture! I needed a solution urgently!
THE THIRD CALL AT 1:45 am.
You could imagine how totally helpless I was to keep calling him for within the hour. I swallowed my pride and called PC again. Hoping to get through him, before the problem worsened.
PC – Sorry Tandon! I have no help to give you.
And before I could put in a word, he disconnected the call again.
I was at my wit’s end! This was not training! This was a real-life problem with real consequences! How could he take the matter so lightly! How much longer should I play along with being insulted and ridiculed? I was looking up to him for help, and he kept refusing me so callously!
For the very first time, I was feeling terribly annoyed at PC. I was seething with rage but then there was nothing I could do! I thought of this popular quip: “The boss may not always be right, but he always is the boss.”
PUSHED TO A “DO OR DIE” SITUATION
It was 2.10 am and the problem stared at me. I decided not to call PC again and thought of the predicament before me. It seemed like it was a do or die situation.
I called my Assistant and told him to get me a large cup of steaming hot coffee and requested him to leave me alone in my cabin. He promptly obeyed my instructions, closed the glass door behind him and left.
For a few minutes, I closed my eyes, tried to analyse the situation with a cool mind, and gave full focus to the problem as if I were an Einstein or a Newton! Soon, before the coffee cup was empty, I had clearly thought of 3 specific remedial actions.
I jotted these points of action on a piece of paper, called the main plant operator and handed over these directives to him. I told him to initiate the action plan. After that, there was nothing left to do but the whole team to wait and watch. In the next ten minutes, he did exactly what I told him to.
It took 30 more minutes, and to our utter surprise, the plant was returning to normalcy. Indeed, it was a great moment for all of us! We cheered!
Around this time, my phone began to ring. It was none other than PC calling me back!
THE FOURTH CALL AT 2.50 am:
I received the call with confidence and joy.
PC – How is the plant now, Mr Tandon?
KT – Plant is perfectly normal, Sir!
PC – I knew it!
He spoke these three words, and he cut the call again. But this time, my fury had melted. Clearly, PC had been awake at this hour and worried too! He trusted me and pushed me so that I could rise to the occasion!
CASE ANALYSIS: LEADERSHIP PIPELINE
Let us look back and pick out important learnings from this experience.
While I was feeling furious on him for not helping (spoon-feeding) me – he was looking at a much bigger picture! He was busy thinking as to how to use the crisis at hand to create another competent leader and problem solver in his team.
All the drama he played during those three telephonic chats was an intentional act on his part to pull me out of my comfort zone and position me as the smart leader/manager who leads from the front and sets an example to his team members.
Second, IT was “leAding by example”:
He was not acting out in anger as I initially thought. While I was tensed under pressure, struggling to solve the plant problem, PC was also not sleeping!
The stakes were high! If I had failed the chemical slurry would have to be thrown out and the plant would have suffered a colossal loss in both production material and costs!
He still did not buckle under the pressure and resort to micro-managing my actions. He put faith in my intelligence and was ready to check-in with me within an hour. His appreciation in the end, not only made me forget my anger but I also gained respect for him as he unlocked my inner potential!
A TRIBUTE TO MY LEADER!
PC is no more with us. He died long back. But his memories are all fresh in my mind even today. I have been narrating this story to my students for the last 10 years in my classroom sessions.
Today, I thought of publishing this story in my blog as a tribute to him!
If there was a choice presented to me to hire an efficient or an effective manager (with the condition that I am not allowed to choose one who is both efficient and effective) – I shall reject the efficient and choose the effective…. Want to know, why? Read on…
As a manager, you must be effective first and then efficient. Before I explain the meaning of these terms, let me give you few examples. John, the Production Manager at a bakery in Nasik, is busy rolling out buns even though he has the pressure of dispatching bread loaves against an order which is already delayed. Then, there is the example of Priyanka, a young entrepreneur managing her popular boutique in South Mumbai. She is busy with production planning for the next quarter while there are 7 serious customer complaints pending for over last 4 days. Even a routine E-mail has not been sent to these customers acknowledging their concerns! Finally, think of this example— a young student called Rohan has his accountancy examination tomorrow morning but he is putting his efforts on improving his English vocabulary. He believes that good English is necessary for his professional future.
None of the protagonists in the above examples (John, Priyanka, or Rohan) are wrong. They are faced with multiple urgent tasks to do. All of them are intelligent, hardworking, efficient, and sincere professionals. They are also focused towards their goals. But then the way they fix their priorities at any point of time is certainly wrong.
If I were to properly advise them – John should have been rolling bread loaves and not buns. Priyanka’s priority should have been attending to customer complaints first and doing production planning later and Rohan should have given preference to preparing for his tomorrow’s examination rather than focusing on improving his English vocabulary.
Now, let me get back to the terms I introduced earlier – effective and efficient. Being effective means that you clearly know what is necessary and important for you to do at any time. However, being efficient means working in the right manner so that you complete the work using minimum resources. In fact, efficiency has to do with economizing on resources and/or to bring down the cost of production or the cost of doing work in any manner whatsoever – like minimizing resources, improving production cycle, reducing down-time, cutting wastages and pilferages to a minimum.
Therefore, I urge you to always remember:
“While effectiveness is doing the right things, efficiency means doing things in the right manner.”
By the way, this is the bookish definition of these two extremely powerful words in business management commonly found in most management textbooks. However, this choice continues to perplex accomplished professionals and students alike!
I have always wanted to write down my thoughts and experiences and share them with young people. This December, I took the leap of faith: I started blogging!
I was pleasantly surprised to receive 500+ views per day last week! The website has received over 100 comments since its launch. I have received so many encouraging emails. I am so glad to have the support of students who have reached out to help me navigate and spread the word on social media too! I never expected to be so motivated by your views, likes and comments on all of these different platforms! I am over the moon!
As this year wraps up, I find myself filled with joy and gratitude. So, I wanted to take this opportunity to thank my students, colleagues and well-wishers. I hope that my writing continues to engage and inspire you.
Dear Readers, I wish you a Happy and Prosperous New Year!
I wanted to take a moment to shine a light on one special response that I received by email. It was by none other than Mr. Subhash Ghai! The Showman needs no introduction! We already know him from his marvelous blockbuster hits like Taal, Ram Lakhan, Pardes, Khalnayak.. the list goes on!
Here’s what he wrote:
“Kapil Tandon- ‘A man who refuses to give up’ (the interview) says it all about him… from his learnings to teachings (of) human wisdom and universal truth. Whistling Woods is blessed to have a mentor like him for the real growth of our young students… as a person and professional as well. Thank you Kapil ji. God Bless You.”
SUBHASH GHAI, Hindi film director, producer and screenwriter
SG Sir, I am so elated to have received this response from you. Thank you from the core of my heart. I want to take this opportunity to wish you a happy and prosperous new year! ~Kapil Tandon
Kapil Tandon, sitting in his balcony garden. 2020.
Professor, Consultant and Mentor – Kapil Tandon talks about his life experiences, and what keeps him going strong at 72 years…
The following interview was conducted by Rohan Vachani who was a student of Kapil Sir for 8 consecutive semesters during his undergraduate and postgraduate programs in media studies and business management.
Currently, Rohan works as a Freelance Event Curator & Manager. He is also associated with his family confectionery business in Dehradun (his hometown) and collaborates with his father in the family business “Chocolate Corner” as Manager – Brand Building & Communications.
Rohan Vachani
Speaking of him, Kapil Sir fondly remembers, “Rohan, because of his eclectic interests, was always one of my favourite students. I used to keep him in mind while formulating my teaching and mentoring strategies.”
Give us a brief overview of your life! What made you who you are today? What has kept you going?
I was brought up in a joint family involved in the business. My thinking was certainly influenced by my father and other three uncles who could think and talk of nothing else but business. Consequently, I developed a liking for business. Business jargons like planning business, projects, growth, profitability, and development sounded familiar and natural to me.
I always loved being with people, talking to them, understanding them, and appreciating their capabilities and skills. Managing or running an institution or an enterprise always fascinated me. All this drove me to pursue further achievements and provided me with much-needed inspiration. Studying engineering and management followed by many years of working with the corporate world developed an intense desire to begin my venture. I started my own FMCG company as the main promoter and enjoyed my entrepreneurial journey for over 14 years. Later, I decided to exit for family reasons, dominantly because both my sons were not interested in business and wanted to settle abroad.
Do you think studying business can make you a better entrepreneur?
We often talk that an entrepreneur needs an MBA or a base skill in finance or marketing. But it is not so. These are all the skills which can be bought in the market and the successful entrepreneur builds these resources into his/her team. So, my answer to your question is, no, I don’t think it is crucial to have a degree to be successful in the business world!
So, what sets a businessperson apart is their mindset! Think about it, typically, the main functions that an entrepreneur must perform are— to organize, to be able to take risks and to innovate! Those who work with a positive attitude and mindset can overcome many doubts, fears, and apprehensions.
A passionate entrepreneur embraces every challenge and accepts change and can adapt as and when it is required.
Should business and family mix? What role did your family play in your success?
Family support is essential to every successful entrepreneur, or at least it makes the journey easier. Starting a new business with an established family business by your side is certainly a great advantage! It acts as effective insurance or fallback option (or call back in case of any problem).
However, parents, siblings, spouses — all of them have something to say when we start a venture. Sometimes they can be supportive, and sometimes they may be restrictive and too careful against risks.
In my case, I was quite lucky as my family was generally supportive of my going for the entrepreneurial venture of my own. The proposal was for starting a venture in Lucknow – my home place in Uttar Pradesh (U.P.) with the support of my joint family. However, my wife was not in favour of moving to Lucknow from Mumbai. According to her, this move was likely to pose cultural adjustment problems, like adjusting to the culture of U.P. and even adjusting within a joint family. Both these apprehensions eventually came true and affected our life in several ways.
Do you regret anything, or do you feel if you missed out on something?
With my venture, I had undertaken the blending, packaging, marketing, and distribution (through market intermediaries) of packed tea. We had created our brands of tea and were managing the entire value chain right from sourcing the tea to its packaging, then the marketing and sales (including debtor-management, collections of receivables etc.).
In my instance, I think that it would have been a better idea to start as a producer supplier or purely as a marketing outfit (without any manufacturing) rather than undertaking the management of the entire value chain. That would have given more and quicker success!
What do you want to tell the coming generations?
I would strongly recommend entrepreneurship to all young persons. Now more than ever, the world needs entrepreneurs of all kinds who think and act entrepreneurially, who can transform opportunity into reality, and create social and economic value for themselves and others.
Aren’t entrepreneurs the true creators, innovators, and the leaders of the world? They can give back to society as directors and trustees. They are the people who are prepared to take risks to create high value and jobs which support the economy! Anyone can become an entrepreneur but not everyone survives the journey. A small percentage of students choose to become entrepreneurs, while the rest take the safer path of becoming employees for someone else’s business organization. Of course, there is nothing right or wrong about that decision, but isn’t it thrilling to make a mark of your own? I urge the youth to give themselves and their business ideas a real shot! If it works, it will transform your life exponentially!
Any dreams yet to be pursued?
For over last 10 years, I have been doing what I love– teaching, mentoring, guiding, and motivating young students! This is precisely what resonates with me, and creates positive vibrations for me… I am also guiding young and grown-up students to design and implement their success blueprints for whatever they want to do in life – including starting their entrepreneurial ventures.
I strongly feel that all smart young men and women should come forward and invest their efforts, resources, and time to start their venture. This will give them a happy, fulfilling, and prosperous life plus a great feeling knowing that they have contributed to the nation’s GDP.
People are important. They constitute the most important resource – the human resource. Organizations, events, and/or projects succeed or fail because of the people involved. So, for an entrepreneur, connecting with the right people becomes crucial!
Then, how can you become a better judge of people? Of course, the obvious values are those of intelligence and sharp judgement. You need people who can anticipate, to see around corners and make sharp decisions. In a partner and employee, it is also ideal to find someone who demonstrates loyalty, integrity, and a high energy drive. You can bank upon someone to get things done and who has a balanced ego.
Giving connects two people, the giver and the receiver, and this connection gives birth to a new sense of belonging.
Deepak Chopra
Of course, it is easier said than done. Let me share what I have learned about people, and these can be applied in life. Every management lesson, in the end, is also a life value.
YOU’LL DO BETTER IN GOOD COMPANY
Make a list of people you like, and you want to emulate – also the people who create positivity in you, motivate you to do better and bigger things in life. Create an eco-system of such people and personalities and spend time with them – both work time and playtime. There is no point wasting your time in a suffocating environment filled with persons with a negative mental attitude (NMA). This will, for sure, never help you grow into the person you want to be.
CHOOSE THOSE WHO IMPROVE YOUR MOOD
Surround yourself with such friends and persons who have a constructive and positive impact on you. Cut those from your circle of influence, who possess a negative mental attitude (NMA) and/or not supportive in furthering your initiatives. Do not keep friends and associates who do not add value to your eco-system or, for that reason act or behave like an autocrat who does not care for the opinions and suggestions of others.
BE HONEST IN YOUR DEALINGS
Always present yourself to others as you are. Let others see you – who you are. When you are being original, everyone will accept you at your face value and there are fair chances that others will enjoy your company. At the same time do not worry as to what other persons talk about you. What matters is the presence of supportive people in your life. The naysayers simply do not matter. They do not think they can do so they hate seeing other people succeed. But remember, it is your life.
Welcome, all kinds of suggestions and feedback from wherever it comes. Be an active listener (as opposed to being a selective listener) – especially when it comes to listening opposite or confronting perspectives and/or criticism or any kind of negative feedback. This is the acid test to know – whether you are on the right track or not. Never be so happy with the status quo that you always, as a rule, resist changes. Embrace changes if the situation so demands. Sometimes the change may introduce you to a better way, a better person, or a better lifestyle.
COLLABORATION OVER FORCE
It may prove useful at times to organize people in non-hierarchical settings to inform, share, discuss and agree on items of importance to the company. Do not ridicule people, do not insult them either. As a basic rule of life, be friendly with people, and help them as much as you can. This is a great strategy to build rapport and to create an environment of trust and comfort. At your workplace, create an atmosphere where people (both as individuals and in teams) demonstrate the spirit of cooperation and collaboration and keep workplace conflicts at a minimum. People work on the dictum – consent and collaborate rather than following the traditional dictum – command and control. Treat everybody with due courtesy and respect – after all people will remember you for as to how you treated them.
All my family members and close friends call me a people-person. That is entirely true. I love to operate as a senior colleague and friend to all my teammates – attaching the highest importance to employee engagement, job enrichment, and enduring motivation. I strongly believe that you take care of your people and your people will take care of the business.
I see that you are working hard. I know you have been dreaming of a successful future. Your eyes, gleaming with hope and passion, motivate me every day!
Right now, you are studying and striving to build the desired skill-set in you. You may complete your graduation soon, and thereafter may pursue a post-graduation or a business management course or some other short-term or long-term professional program.
You are young and restless! It is clear to me that you cannot wait to embark upon the actual journey of life – pursuing a job or business, making a decent living, and striving for good health, happiness, and satisfaction in life! Becoming rich and purchasing all the things you have your eyes set on, rising high, accumulating wealth, buying properties, and achieving all the milestones that you have scribbled in your diary or pinned in your inspiration-board…
I wish you all the best! May you achieve all that you deserve!
But let me do you one good more, and tell you how to go about your dream encapsulated above…
First and foremost, don’t postpone your dreams! Start working on your dream project right from the last semester of your college.
Identify a good business opportunity and give your 100% to it.
Then, be prepared to struggle for about a year and a half to develop your business in small modules – relying fully on your equity and not taking any loans.
Once you take a good grip on your business – expand using the concept of financial leveraging.
Frequently, do a cost-benefit analysis to support/reject your decisions.
Use the risk log method to do risk assessment and management. You must have a mentor to back you. It could be a family member with experience of the business world or a professional consultant or a trusted guide.
All this will help you to steer your business and life journey smoothly – and help you reach your eventual goal.
I hope that you take the leap of faith and bet on you dreams! The rest will follow!
Lots of Love, Kapil Tandon
P.S.: If this excites you, drop me a mail at kapilsirofficial@gmail.com – and we shall take it forward from there. Please do not forget to mention your mobile number in your email.
It is not just the young who feel bogged down by peer pressure. Adults too are constantly trying to fit into societal expectations of them. Most of the times, we tend to exist in a default setting that we continue working on until we become unrecognizable to ourselves.
However, the best part of you is you!
You are unique, and a masterful creation of the Almighty. The sooner you realize this truth, the better.
To find the true purpose of your life or your true calling is your duty towards yourself. Pull out a paper and pen, and confront these questions:
Why have I come to this world? What is the purpose of my existence?
What do I want to accomplish? What objective drives me?
Who do I want to be? What do I refuse to be?
The thought process and self-introspection communicated in by these questions will help you rediscover yourself. You will at least be in a better position to give some definite meaning to your life. By extension, you will be living your life according to your personality, beliefs, and value system – rather than being under the constant influence of the external environment around you. You have few things that are non-negotiable for you.
Here, I am not trying to suggest that you lead an isolated and disconnected life. I simply mean that you will know the reason for why you adjust when you do give in. You will be able to stand up for yourself. I am also not suggesting that you do self-aggrandizement and always play on a false bloated ego. Such acts will certainly jeopardize your good intentions, plans, and aspirations.
“One of the greatest regrets in life is being what others would want you to be, rather than being yourself.“
Shannon L. Alder
The larger aim of these questions is that you find and maintain your originality. You must always remember as to which way you are heading and where you, eventually, want to reach. There must be a focus on your long-term vision for both your personal and professional life. The absence of such a tunnel vision may find you distracted and confused when you meet challenges. Also, you may discover that all you do may not fit in with your life vision. With self-discovery, you can work on building knowledge and skills which will increase your chances of success in the job you do or the profession you pursue.
Blend right proportions of empathy, self-confidence, and self-awareness into your personality so that the new version of you is original and magnetic!
Entrepreneurship is always going to be a great career move! It will be a source of a happy, remunerative engagement option.
Seize the untapped potential
There are so many possibilities! You can be a Corporate Entrepreneur, a Social Entrepreneur, and/or join your Family Business! You may be itching to start a new venture from scratch in domain areas like education, healthcare, training & skill enhancement, and many more! It could be virtually any sector that creates positive vibrations in you.
There are numerous ways to get engaged with your business, all at your convenience. Like most people, you can work full-time, part-time, or organize such a model where you simply invest but stay away from day-to-day business operations.
What gets me thrilled about entrepreneurship is that there is no barrier to entry. Tech enthusiasts can become “TECHNOPRENEURS,” middle-aged mothers with semi-independent children can become “MOMPRENEURS”, educators can become EDUPRENEURS, and so on. There are endless opportunities since the vast ocean of entrepreneurship will always have uncharted spaces to explore. You can build a viable business around any one idea which you like or love!
Above all, I get excited about the young graduates (irrespective of their specialization) jumping in headlong into the foray of entrepreneurship or intrapreneurship. It is great if you are from a business family and are either interested to expand the family business or keen on marking your own identity with an independent venture of your own.
Frankly, I would even include the non-graduates and “not so qualified” individuals. Someone who is neither qualified nor has a family business to fall back on can also opt for entrepreneurship. They will have to start small, taking baby steps, and growing slowly in stages by adding various modules to their basic business idea – one by one.
Although anyone can become an entrepreneur, a small percentage of the population build the resolve to work on their business idea while the vast majority becomes employees. There is nothing good or bad or right or wrong about this. It is just the way it is! Indeed, we need both entrepreneurs and managers (employees) to perform complementary activities and contribute to the growth of an economy.
According to me, Entrepreneurship is a willingness to take risks both personal and financial in a calculated manner to ensure that the odds remain in your favour!
Here’s my advice!
For students:
If you are coming out of your colleges or universities, you must give a fair chance to entrepreneurship. You could have a stable plan of working for a few years, accumulate some money, gain relevant experience, and then try to stand on your own feet.
Alternatively, you can go for your business straight-away without working for any organization. Both options have their merits and demerits.
For the Professionals:
If you already boast of a professional degree, start with a full-time job with a reputed business organization. This kind of beginning is popularly known as the ‘corporate entrepreneurship’ model. Here you lead a stable, financially independent life earning and learning at the same time. After you have done this job for about 5 to 7 years – you can talk to employers for feedback and their impression of you. More importantly, you can negotiate your long-term association with them. Such discussions can often open doors for a more lucrative future for you. You may be offered better incentives, commission on sales, profit sharing, E-SOPs and even an opportunity to head an independent business unit or branch as an intrapreneur!
Being an intrapreneur as we all know, means working as an entrepreneur where you have no investment and share zero risk.
For the underqualified:
If you are the son/daughter of a businessperson but do not have the benefit of good education or exposure, you can safely opt for the family business. What you could also do is start a new business with suitable support and linkages from the parental business. As you go along, you can also do some part-time courses and acquire additional skills needed for your business!
For the Unemployed:
If you are moderately qualified and cannot secure a great job, there is no point in going for a job that only makes your ends meet. Whereas many may think that such persons are not so lucky – my feeling is exactly the opposite. It is like having a blank slate and writing your destiny – remembering all the times that sky is your limit!
Start your own business right away and build the dream business module by module, slowly and in stages.
With a small capital in form of equity raised from your parents, family, friends and by working part-time or through crowdfunding etc.
Avoid taking secured loans from banks or DFIs till you learn the art and science of earning and handling money.
Work on 100% equity (with few unsecured loans from family, friends, credit cards etc.) for a period of 12 to 18 months. Then go for financial assistance from banks and DFIs.
Try to gain ongoing support from a professional well-wisher (ideally a formal paid mentor with payment linked to enterprise sales turnover). This will act as a check valve and prevent the business from suffering bad decisions, ill-informed actions and inappropriate strategies!
If this excites your imagination, send me an e-mail on info@kktandon.com and we shall take it forward from there.
