STAY HUNGRY STAY FOOLISH

RASHMI BANSAL

ABOUT THE AUTHOR

Rashmi Bansal is an Economics graduate from Sophia college Mumbai and an MBA from IIM-Ahmedabad . She is a writer, entrepreneur and youth expert. She is the co-founder and editor of JAM( Just Another Magazine ).

STAY HUNGRY STAY FOOLISH

The book is all about the inspiring stories of 25 IIM Ahmedabad graduates who choose to tread a path of their own making.. This book would inspire the youngsters to dream the forbidden and achieve the impossible

CONTENTS
THE BELIVERS
THE OPPORTUNISTS

THE ALTERNATE VISION

THE BELIVERS
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 made it big!

THE BOOK OF JOB

Academic
MBA/PGDM, Indian Institute of

Management Ahmedabad, India 1987- 1989. BA, St Stephens College Delhi, India 1981- 1984.

Professional Experience
Co Founder and CEO at Info Edge

Delhi, India -1990 - Present ( 21 years) Product Executive at HMM Ltd. Delhi, India -1989 - 1990 ( 1 year ) Junior Account Executive at Lintas India Ltd. Mumbai, India -1985 - 1987 ( 2 years)

THE BOOK OF JOB

I could see my future , had I continued as a manager in the corporate sector. If I was lucky, at the end of 5years Ill be a senior product manager, in 8 years I'll be marketing manager in 25 years I might be the CEO somewhere. All this if I am really good. I used to ask myself: is this what I want in life? I didnt want to sign complex agreements, have somebody breathing down my neck and be under pressure for growth. I was comfortable, leading an uncomplicated life. Entrepreneurs are Seekers Persistence is a quality that you have to have, to be successful Entrepreneur

ROCK WITH IT ROLL WITH IT

Academic MBA/PGDM, Indian Institute of Management Ahmedabad, India 1986- 1988.

ROCK WITH IT ROLL WITH IT

Entrepreneurs are smart people, they manage the risk-reward equation very well. With an IIM Ahmedabad degree, the risk is not much. You can always go and start something. If it doesnt work out, somebody will give you a job Its all about being an eternal, insane optimist. I never had the dilemma: Am I doing the right thing? Should I just shut this down and go to take up a job? Never ! Being an entrepreneur is the art and science of creating value.

THE CAT WITH NINE LIVES

Academic
MBA/PGDM, Indian

Institute of Management Ahmedabad, India 1979- 1981. Bachelor's Degree St. Stephens College

THE CAT WITH NINE LIVES

In looking back it seems, we were in step with the turning in the economy The truth is, it all just happened. In hindsight, you can call it strategy. What management education does is provide you a perspective. But it doesnt force you to work for anybody else. Its an education degree, thats all.

SOFTWARE COWBOYS
Academic
MBA/PGDM, Indian Institute of

Management Ahmedabad, India 1977- 1979.

ASHANK DESAI MASTEK

SOFTWARE COWBOYS
When Mastek has its IPO, software was not known to

brokers. Many of them asked, Do you make floppy disks?! The other strategy was to divide the project into many micro steps so that every delivery gets some money. In time some banks started giving credit against invoices. The IT industry is like sitting on a tiger. You have to keep reinventing yourself. When you are sitting on a small market, you have to be good at many things. Ultimately when you are running a company, you have risk, you have responsibility to make it successful. So the bucks stop at you. So to that extent, there is a difference between executive and owner.

GIVER OF ALL GOOD THINGS

Academic
MBA/PGDM, Indian Institute of

Management, Ahmedabad, India 1987- 1989.

R SUBRAMANIAN SUBHIKSHA

GIVER OF ALL GOOD THINGS

If we would have known how difficult retailing is,

we would have never got into it. Operationally, its a very challenging business, the pain factor is very high. But the pain factor is what we love so much. Thats what make to so difficult for competition to come in very easily. I dont think I look at myself as owner of a company. I look at myself as a manager for the company. I am as amenable to rational logic as I would be if I were an employee.

SWEET SUCCESS
ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1992 - 1994.

NARENDRA MURKUMBI SHREE RENUKA SUGARS

SWEET SUCCESS
You keep thinking about how to grow the business. Of

course, you have a lot of ideas, and not everything succeeds. In fact, I think very few stories are written about the failures as long as the successes are But big enough, I think things take care of themselves. n every business, the more you know about the I grassroots, the better. am an entrepreneur because I want to create I something. It's not the money that motivates but the size of what you build, the scale. t is always difficult to switch off. Mentally you are I always there and that's hard for the family. Partly maybe personal style. Also because it's your own business, you are that much more connected.

AT YOUR SERVICE
ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1970 - 1972.

CHENDER BALJEE ROYAL ORCHID HOTELS

AT YOUR SERVICE
hen things are tight you monitor every expense. W

Only when business is doing well inefficiencies creep in. e compete with the big names - the Taj and Windsor W Manors of the world.

SUCH A LONG JOURNEY

ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1965 - 1967.

MADAN MOHANKA TEGA INDUSTRIES

SUCH A LONG JOURNEY

When I went into this venture of Skega I didn't realize

that this may have a repercussion on the family. Maybe, had I known that the family would break because of this venture, I wouldn't have taken it up at that time. So I don't know whether it was a good or a bad decision. But once I took it up, I never gave it up. f you believe in a product, never give it up. You will I succeed. It may take time, it will cost money. We are concerned about Chinese competitors, but we have one advantage - our product requires software and hardware, both. The Chinese can compete with us on the hardware, they will take some time to compete with us on the software. So we think we have a lead on them.

THE ALCHEMIST
ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1977 - 1979.

SUNIL HANDA EKLAVYA EDUCATIONAL FOUNDATION

THE ALCHEMIST
To take a 23 year old fresher from IIMA and throw

him into a sick unit, required a lot of guts and density of learning is very high. If I had spent 19 months in Hindustan Lever, as a management trainee, I would not have learnt even one per cent of what I have learnt in 19 months as an executive of a sick unit. I have always felt that the way to judge a manager is, after thirty years, judge where his subordinates are. If they are happy and successful and doing well in life, part of the credit goes to that person.

YEH HAI YOUNGISTAN MERI JAAN

ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 2002- 2004.

VARADAN KABRA FOUNTAINHEAD SCHOOL

YEH HAI YOUNGISTAN MERI JAAN

Education, as a business model is feasible, no doubt

about it. Except for the capital expenditure which makes life very difficult. For a preschool there's no problem.

ADVICE TO YOUNG ENTREPRENEURS

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 dont have to be born with it, you can develop an entrepreneurial bent of mind at any age!

TRIPPING ALONG
ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1990- 1992. St. Stephens College,

Professional Experience
Co Founder and CEO

at makemytrip.com, India -2000 Charter Member of TiE (The Indus Entrepreneurs) and on the Board (since 2006) Head - IT Infrastructure(YES BANK)

DEEP KALRA

TRIPPING ALONG
The MBA is a wonderful degree. You can either use it

as a noose, or you can use it as insurance. I would always tend to use it as insurance. My motto for my team is borrowed from JEFF BEZOS work hard, have fun, create history. But two out of three is not an option! I have only taken in capital from guys who I think can add value to us.
Investor philosophy of

Deep
When it comes to investors, and even when it comes

to your own people, loyalty is important but competence matters more.

BLOOM AND GROW

ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1987- 1989. University Of Mumbai(Bachelors Degree)

Professional Experience
Founder, Chairman, CEO, MD of

EDELWEISS Capital (1995Present) Director and Member of Audit Committee of Rediff.com India

RASHESH SHAH EDELWEISS CAPITAL

BLOOM AND GROW

Very few people speak about it but there is a clear

change in the social status. Entrepreneurship is messy compare to what things would be if you were working for an MNC bank. When you are the CEO and shareholder, you want to avoid raising money because your equity goes down. When you wear only the CEOs hat, all you want is to grow as fast as possible. We always differentiate between a plan and an aspiration. There is always a short term plan but there are always long term aspirations.

ITS ALL ABOUT THE HONEY

ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1987- 1989.

Professional Experience
Founder, Chairman, CEO, MD of

INDIA INFOLINE Ltd., (1995Present) NIRMAL JAIN INDIA INFOLINE Ltd.

ITS ALL ABOUT THE HONEY

If you are an artist like M F HUSSAIN or a player like

TIGER WOODS your individual skill only matter, and not how good a team player you are or how good team you can build. The analogy applies to business as well. Do you want to be TIGER WOODS, the golfer or Captain of Team India?
You always run

a risk, its a game of probabilities. You have to be sporting.. however good you are, you may get out for a duck.

ITS NEVER TOO LATE

ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1968- 1970.

Professional Experience
Co-Founder, Executive

Chairman, of EXL Service. Director of SPICE Enfotainment Ltd.

VIKRAM TALWAR EXL Service Ltd.

ITS NEVER TOO LATE

It was fun of the whole thing, more than anything else

that drove me. It was creative aspect of my nature I love to cook, for example. I find that creativity. Corporate life isnt creative it was more mundane, routine At the end of the day, I had given my personal word to a lot of people who had come along with me. People had left good jobs to come work with us. You cant just walk away.. And of course there was desire to leave behind legacy. Working with a partner requires a huge amount of sacrifice, understanding and tolerance. Its like a marriage at the end of the day. I mean worse than marriage.

DRUG BARON
ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1977- 1979. University of Hyderabad(Bachelors Degree)

Professional Experience
Chairman and Managing Director of

ORCHID Chemicals & Pharmaceuticals Ltd.

Director of BEXEL

K RAGVENDRA RAO Orchid Pharma

Pharmaceuticals Ltd.

DRUG BARON
We started as a public limited company right from the day of the organization. Because I went and told them, I committed to this, this is my plan and this is what I have. Wherever I worked, even when I held with zero shares, my attitude towards work and project has been absolutely same. There is no point in merely saying we are all a family. We have to believe it, we have to show it, we have to behave, we have to walk the talk.

THE BANKER WHO BLINKED

ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1971- 1973.

Professional Experience
Former Vice President,

General Manager of India Operations and NonExecutive Chairman of MPHASIS BFL

JERRY RAO MPHASIS

THE BANKER WHO BLINKED

I should have started 3-4 years earlier. If you think

about it, it could have been much bigger if we had started in 95. But thats life. You start when you get your break. You must not loose focus on cash If you dont have cash, you are up against a wall. You end up raising money at the wrong time or walking away from the business. Plans are all okay, but if you dont have the courage to take mid-course changes and corrections, particularly in highly changing environment like technology space youll get into trouble.

ICH BIN EIN ENTREPRENUER

ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1974- 1976.

SHIVRAMAN DUGAL ICRI

ICH BIN EIN ENTREPRENUER

rofessionals are better than entrepreneurs for P

running the running business. Because an entrepreneur is too much in love with his creation. When you love something, you are blind to everything which is wrong in it orking at other companies in my early career W helped me.. to understand how an employee thinks. It also taught me the value of systems and how important it is to employ people who are better than yourself. Or your organization will never go anywhere.

FOR LOVE, NOT MONEY

ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1994- 1996. Bachelor Degree, Indian Institute Of Technology, Kharagpur.

Professional Experience
Co-Founder, CEO, Director of

MARKETICS TECHNOLOGY INDIA Pvt Ltd.

SHANKAR MARUWADA MARKETICS

FOR LOVE, NOT MONEY

Culture is a set of daily behaviors exhibited by an

organization. The senior guys walk the talk, others will follow. Because an organization, especially in the beginning, is nothing but the reflection of the founders. Marketics mission statement: e will have globally W delighted clients who will benefit from us being the world's best professionals in what we do. In doing so we will have fun and get rich . t's a different kind of thrill when a client says, our I Y work has actually saved us. Your work has given us a great idea. The closest example I can think of is what patients tell doctors. o you want to stay happy but small or do you want D to grow? These are two different paths and you have to choose one. We made the choice to scale up.

MILLION DOLLAR SEAM STRESS

ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1981-1983.

RUBY ASHRAF PRECIOUS FORMALS

MILLION DOLLAR SEAM STRESS

s an entrepreneur you don't say that have to reach a A I

particular place in five years. You just keep doing whatever you are doing. You have plans, you have goals, you know a strategy. But still one doesn't even anticipate that so much work will be done just keep you doing it. e are the only company that checks every garment W before shipping, in the US. The prom foray happened in 1996 and today Precious Formals is one of the major players in that market. At the upper end.

Order Of The PHOENIX

ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1987-1989.

DEEPTA RANGARAJAN IRIS

Order Of The PHOENIX

One has to have a creative streak if one needs to be

an entrepreneur. A strong desire to want to create something and to make that happen. hile we are not starving, we are not tremendously W greedy, we don't constantly compare our net worth with somebody else. If you have primary responsibility for caring for your family and you want to be an entrepreneur, in terms of balancing life, you could do something more cottage, maybe from home. If I had kids I would definitely re-size or re-scale the way I would be involved with the company.

HEALTH IS WEALTH
ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1998-2000.

Professional Experience
CFO, Director of MIRA

RESOURCES CORPORATION. CFO, Director & Chairman of Audit Committee, NEVADA EXPLORATION, INC. CYRUS DRIVER CALORIE CARE

HEALTH IS WEALTH

THE ALTERNATE VISION

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

A SENSE OF OWNERSHIP
ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1970-1972.

Professional Experience
Managing Director of SINTEX India.

S B DANGAYACH SINTEX

A SENSE OF OWNERSHIP
People know my integrity, people who are into

headhunting do not approach me ever. Possibly they have some report about me, some reference about me, so they are aware of what reaction they may get. have a very simple mantra which is to combine four I I . The first I is Initiative. Second I is Intelligence, s correct choices. Third is Industry, which is obviously hard work. Fourth I is Integrity. I work with total integrity. If I take up something, either I will give my whole of it, or I will not take it up.

BASIC INSTINCT
ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1979-1981.

Professional Experience
Managing Director of SINTEX India.

VIJAY MAHAJAN BASIX

BASIC INSTINCT
You go through several years of either nothing

significant happening or you actually have setbacks. For me, there have been blockages in going forward rather than going back. But I know of several entrepreneurs who have had severe setbacks. Basically they bounce back. realized that if we continued to remain dependent I on grants for our own functioning, and government loans for the community, it's going to be a very slow path. We won't be able to control anything. he kind of things that one does in an organisation T every five years, we were doing every six months. We thought ki yeh fit ho gaya. We have gone from a concept note to a local area bank in two years flat.

THE ART OF GIVING

ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1991-1993.

VENKAT KRISHNAN GIVEINDIA

THE ART OF GIVING

We also set up a ROTRACT club in the college,

which was very exciting. I would say my first entrepreneurial experience in a sense. We actually used to go and meet people, get them excited, get them to college and organize a career guidance fair entirely on our own. whenever you look into the things that make a difference to quality of our lives, we somehow think theres no need to apply scientific thought. I think if there is passion in the environment, people pick it up. I have seen it every place I have worked in.

SMALL IS BEAUTIFUL
ACADEMIC
MBA/PGP, Indian Institute of

Management, Ahmedabad, India 1975-1977.

ANAND HALVE CHLOROPHYLL

SMALL IS BEAUTIFUL
The buffer that we talk about is having enough

money in the bank to pay fixed expenses for two months you need to have it at any given point. The name chlorophyll embodies our core values: creativity and efficiency. The molecule is exceedingly efficiency because it uses every photon and its creative because it combines two unrelated things carbon dioxide and water to create something new.