stay hungry stay foolish 003

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About Author Rashmi Bansal is a writer, entrepreneur and youth expert. Rashmi is co-founder and editor of JAM (Just Another Magazine), Indias leading youth magazine in print and online. She writes extensively on youth, careers and entrepreneurship and hosts the popular blog: Youth Curry. Rashmi is Consulting Editor for Cracking Careers, the careers show on business news channel UTVi.

She mentors students and young entrepreneurs in colleges across India. An economics graduate from Sophia College, Mumbai and an MBA from IIM Ahmedabad, she lives in Mumbai and can be reached at rashmi at jammag dot com.

About book

ContentsTHE BELIEVERS People who knew entrepreneurship was the Chosen Path. They took the plunge straight after their MBA or after working barely a couple of years. And they persevered until they made it big.

THE OPPORTUNISTS These entrepreneurs did not plan to take this path but when opportunity knocked they seized it. Their stories go to show that you don't have to be 'born with it', you can develop an

THE ALTERNATE VISION These individuals are using entrepreneurship to create social impact. Or as a platform which allows them creative expression.

The Believers


Sanjeev Bikhchandani (PGP 89), : Sanjeev is Indias most successful internet entrepreneur. For close to a decade he struggled on the sidelines but never gave up on his Big Idea. In 2006, became the first dotcom to IPO on an Indian stock exchange.

Sanjeev had many challenges in his way! He was often offered with mouth-watering jobs but stayed firm upon Learning his decision of having his own business. He faced lot many problems like financial crisis, but he did not quit. He JUST believed in his BIG IDEA! Entrepreneurship is what you can't afford to have ego. Entrepreneurs are seekers, always open to change. One should not exaggerate in their business plan. One should under commit and over deliver. Persistence is THE BEST QUALITY! If one wants to achieve high aims in life then one needs to let go several things. CREATE RATHER THAN FIND OPPURTUNITIES.


Shantanu Prakash (PGP 88), Educomp : Despite a regular middle class upbringing, Shantanu went into business while doing his BCom. The entrepreneurial streak continued after the MBA from IIM Ahmedabad. His company Educomp is today the leading provider of digital content for schools across India..


Shantanu had faced many difficulties like clashes with his partner, in getting highly qualified people,and most importantly he cannot balance his personal and professional life till date. However, he loved the challenges and never gave up!. One should choose anything that one wants, either take up a job or become an entrepreneur, but one should choose that thing about which one is passionate. The risk-reward situation is completely in favour of the entrepreneur. Should do something which answers the qoestions like is the oppurtunitybig enough, are you able to make a contribution and fundamentally change something that generate value?

THE CAT WITH NINE LIVES Vinayak Chatterjee (PGP 81), Feedback Ventures : Vinayak quit his job at Ponds because he didnt see the point of selling soap for the rest of his life. Originally set up as a market research company, over the years, Feedback Ventures morphed into Indias leading infrastructure advisory and engineering firm.

LearningFeedback would not have been posible without one element, i.e. FAITH!.The company faced a little low profile. Ther was a time when they had to shut it down. Its beecause of bad planning and wrong decision. So if you are honest with your purpose and have clear purpose, people are going to support you in society. Do whatever your inner voice says you are good at, just dont attach any value systems to it. One should find purpose by listening to ones inner voice and means would follow.

Shouldnt worry about the fruits, just work hard in life.

Narayan murthy: it has taken me 25 years to become an overnight wonder


Ashank Desai (PGP 79), Mastek : In the early 80s, much before IT was a buzzword, Ashank Desai set up Mastek along with a couple of friends. Mastek was the first company to focus on India as a market and is today one of the top 15 IT companies in the country.

Learning Ashank Desai had overcame many challenges. Initially they did not even have a computer in their office. They faced financial crisis too. He had no experience of software exports but still, he could make that up. They had faced many problems like economic crisis, changes in customer requirements, technologies, low scope in Indian market, but it was the mutual trust of partners which hold the company. So, If you want to start a business, then bringing together a right team of people becomes very important. One requires a team which feels a trust for each other. One should always think big and behave as if one has already accomplished your greatness. Once one gets into any work, one should never think of quitting as one of the options. Though one

An average busines s requires 6-7 years to stabilize .


R Subramanian (PGP 89), Subhiksha : He quit his job at Citibank 15 days after joining, feeling restless to do something more. That something is today Indias largest grocery chain - Subhiksha. Subramanian famously rebuffed offers from Reliance Retail as he believes the best is yet to come.

For every Learningbusiness risk taking is important.

Business in retailing is tough yet lovable. Experience makes man perfect! If one wants to slog and do physical work in the real world, it would make more sense to work in small companies because smaller the companies, better it is for a new recruit. The larger the company, lesser are the chances of one seeing the bigger picture of the real world. The experience one gets from joining small companies would make all the difference


Narendra Murkumbi (PGP 94), Shree Renuka Sugars He shut down the first company he started after graduating because a Rs 5 crore turnover was notlarge enough. His second venture Shree Renuka Sugars is today a Rs 1000 crore company, and has changed the lives of hundreds of sugarcane farmers.

Learning Narendra thought out-of box. To raise capital for Shree Renuka Sugars, he sold shares to farmers. He tried to do anything related to sugar. Very unusually his mother joint is business. He still stays in rented flat because of his ambition of makin his company big. But his biggest achievement was he pioneered in business of bio-pestcides! In this competitive world, it would be difficult for one to start of off on your own right away. Through the course of life, one might learn things the hard way, but one should never give up because success doesnt mean that you should be at the top, it is the distance one has covered from where one started

There is no old business. There are only old ways of doing business


Chender Baljee (PGP 72), Royal Orchid Hotels :

His family owns Baljees, Simlas most famous hotel. Yet as a young management graduate, Chender decided to carve out his own niche. It took him 35 years but today Royal Orchid is a Rs 150 crore hospitality business. .

Learning To do a business, first YOU must identify the kind of work one wants to do. If YOU loves what one is doing then success comes naturally. One must learn the work one wants to do. If YOU enjoys the work done by them then one wont find it a compulsion and success would follow automatically


Madan Mohanka (PGP 67), Tega Industries : In the 1970s it took Madan seven years to get government approval for a foreign collaboration. But he persevered with his dream of excellence in engineering and today, Tega Industries is the worlds third largest company designing solutions in the field of mining equipment.

Learning While starting a business, YOU would always face several hurdles and challenges but if you have a passion to succeed in life, then you will survive any tough challenges of life an emerge as a winner. you also needs to have patience during difficult times and never lose hope like Madan. For young entrepreneurs, If you are planning to open a new business, then you needs to have at least 50 percent more capital as a stand by, than what one thinks. This extra capital would be needed during difficult times.


Sunil Handa (PGP 79), Eklavya Education Foundation/Core Emballage As the force behind the LEM (Leadership and Entrepreneurial Motivation) course at IIMA, Sunil Handa has inspired countless students to become entrepreneurs. From a hard nosed businessman to an educational entrepreneur, his is a fascinating journey.

Learning If one wants to start a business then one should first get some experience by taking up a job for two or three years and then start a company. The experience one gets would be helpful in the business one starts thereafter. In a business if one is able to develop people then it would benefit the company as the company would not require the services of trained or expensive recruits. You should recruit raw people and develop them as over a period of time some of them will turn into gold and be the biggest assets of the company.


Vardan Kabra (PGP 2004), Fountainhead School : In 2004, Vardan Kabra turned his back on an offer by multinational P&G to pursue his dream of starting Fountainhead School. He represents a new generation of young MBAs who are giving up seven figure salaries for the kick of being an entrepreneur.

Learning : One should have possess a creative mi