BOOK SUMMARY: STAY HUNGRY STAY FOOLISH

(Written by Rashmi Bansal and published by Center for Innovation Incubation and Entrepreneurship- CIIE at IIM Ahmadabad) Rashmi Bansal is a writer, entrepreneur & youth expert. She is economic graduate from Sophia College and MBA from IIM Ahmadabad. She is the co-founder & editor of the Just another Magazine. She writes on the youth, career & entrepreneurship. This book includes the story of 25 IIM graduates who chose the path of entrepreneurship. These are the stories of those persons who look beyond the salaries and placement. The author has divided the contents of this book into 3 parts. BELIEVERS In the believers part the author described the story of those who chose the path of entrepreneurship because they knew that it is the right path for him. They worked for several years and continued till they get the success. OPPORTUNISTS In this part the author described the story of those people who had no plan to become an entrepreneur but when the opportunity came, they seized it. ALTERNATE VISION This part consists of the story of those who choose entrepreneurship so as to create the social impact and for their self satisfaction.

CHAPTER WISE SUMMARY

1. BOOK OF JOB (SANJEEV BIKHCHANDANI, NAUKRI.COM) This is the story which tells us how a person can start even when he has no resources and keep it going in very difficult situation to build the trust among the people. ROCK WITH IT, ROLL WITH IT (SHANTANU PRAKASH, EDUCOMP) This story tells us that being an entrepreneur we have to go ahead, and we should never stop and we should never think about what the others say. A good entrepreneur is one who is always ready to take a risk. There is no business with only profits and no risks. THE CAT WITH NINE LIVES (VINAYAK CHATTERJEE , FEEDBACK VENTURE) This story tells us that management education provides a perspective, it doesn`t force a person to work for anybody else. Management education is just a degree. A good entrepreneur is the one who doesnt think about the fruit and always does whatever his/ her heart says/ inner voice says.

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SOFTWARE COW BOYS (ASHANK DESIA, MASTEK) This story tells us that the work of an entrepreneur is not just to start the business, but to take the risk. If you are failing in starting the business, you should not quit it because the thought of failure is your own thought its not a reality. GIVER OF ALL THE GOOD THINGS (R. SUBRAMANIAN, SUBHIKSHA) This is the story which tells that an entrepreneur should not think of himself as an owner but as an employee of the company and always be ready to do the work with other people. A good entrepreneur should always be ready to learn from anywhere. The larger the company you work in, less will be the knowledge and exposure. So , always work with smaller ones for more exposure. SWEET SUCCESS (NARENDRA MARKUMBI, SHREE RENUKA SUGAR) This story tells us that for an entrepreneur the money does not motivates but the size of what you build- the scale does. You get success when you achieve whatever you want. AT YOUR SERVICE (CHENDER BALJEE, ROYAL ORCHID HOTELS) This story tells us that if you have a desire to do something different, you can do it. But always try to find out the work you like most. If you will enjoy your work you will definitely get the success in life. SUCH A LONG JOURNEY (MADAN MOHANKA, TEGA INDUSTRIES) This story tells us that that you should always have a vision and ability to acquire it. If you believe in any product, dont give up, it will take time but will succeed. THE ALCHEMIST (SUNIL HANDA, EKLAVYA EDUCATION FOUNDATION) This story tells us that luck is very important but it is just 50%, it will not come unless you put an effort and should not blame the environment but the ability to change. YEH HAI YOUNGISTAN MERI JAAN(VARDAN KABRA, FOUNTAINHEAD SCHOOL) This story tells us that in starting, you may face many problem but you solve the problems by out of box thinking. There is no correct time to start because every time the risk will be involved. So, be always ready. TRIPPING ALONG (DEEP KALRA, MAKE MY TRIP.COM) This story tells us that an entrepreneur can start at any point when he gets the opportunity. One can use the education as a noose or as an insurance. If you have many motto in your life, leaving even one is not an option. BLOOM & GROW (RASHESH SHAH, EDELWEISS CAPITAL)

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This story tells us that an entrepreneur should not keep the fear of competition because the competition will always be there and one should have the ability to face it. If you are the CEO and Shareholder, you want to avoid raising money because equity goes down. But if you are just a CEO , all you want is to grow as fast as possible. 13. ITS ALL ABOUT HONEY (NIRMAL JAIN, INDIA INFOLINE) This story tells us to always be ready to take the risk and there is no other way to get success. But before starting on your own, you should work for any organization. Always be ready to prepare for failure because it will help to get success. ITS NEVER TOO LATE (VIKRAM TALWAR, EXL SERVICE) This story tells us that there is no certain time to start; you can start at any point of time. Never think about the money, it will never help in success. Join those companies which dont pay much money but give opportunity to learn more. DRUG BARON (K RAGHAVENDRA RAO, ORCHID PHARMA) This story tells us that firstly we must choose our goal and focus on it. Always choose that work which you like and in which you have a passion. It will definitely help you. THE BANKER WHO BLINKED (JERRY RAO, MPHASIS) This story tells us that formulation of plans is important but there should be the courage to make the correction and changes according to the changing condition. If you thinks that I am doing this business so I can sell out and then enjoy the life, you are an idiot. ITCH BIN EIN ENTREPRENEUR (SHIVRAMAL DUGAL, INSTITUTE FOR CLINICAL RESEARCH IN INDIA) This story tells us that the knowledge of human resources is very important. It may be possible, even if you have a knowledge of all the fields but knowing the behavior of HR is much more important because every entrepreneur or businessmen have to work with HR. Always do work like a professional and not an entrepreneur because in profession you work what you think right but in entrepreneurship you are blind to many things. FOR LOVE NOT MONEY (SHANKAR MARUWADA, MAKETICS) This story tells us that we should do work for love not for just money, do the work that you like, in which you have a passion. Never think about the fruit out of it. MILLON DOLLAR SEAMSTRESS (RUBY ASHRAF, PRECIOUS FORMULA This story tells us that we should have our own dreams but theres a need to turn into reality. You should always be ready for the failure to get success by the learning from failure.

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20. ORDER OF THE PHOENIX (DEEPTA RANGARAJAN, IRIS) This story tells that you should do practice before starting your own business. Because it provides you the experience how the work is done and what can be the problems you have to face. One has to have a creative streak if one needs to be an entrepreneur. 21. HEALTH IS WEALTH (CYRUS DRIVER, CALORIE CARE) This story tells that while doing an business, you have to start with small and when you feel its stable then expand it and try to find out the customer first and all other type of market research is less necessary. THE ART OF GIVING(VENKAT KRISHNAN, GIVEINDIA COMPANY) This story tells that passion is very necessary to do any work. Give your money, skill to people who need it, help improve their lives you will get more joy than anything else. SMART IS BEAUTIFUL(ANAND HALVE, CHLOROPHYLL) This story tells that for making your business big you dont try to sell the business but try to create love at workplace and always decide what you want to do and what dont. SENSE OF OWNERSHIP (SB DANGAYACH, SINTEX) This story tells that you can even make a sense of entrepreneurship by doing work for other company but your main aim should not be to earn money but to learn and provide the services. BASIC INSTINCT (VIJAY MAHAJAN, BASIX) This story tells that you should start the work as a problem solver and for providing the social welfare.

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KEY LEARNINGS

Nothing is impossible if you are passionate. Be always ready to take change. Be true to your own voice.
Define your dos and donts. Make mistakes when there is no competition. Always start small. Be a problem solver Dont focus on money but should be on learning. Stay hungry stay foolish is an amazing book which encourages for the entrepreneurial skill. This book encourages the entrepreneurs and helps us to know more about entrepreneurship. So, Always believes in dreams.

(Manju Singh, MBA, 2011-2013)