STAY HUNGRY STAY FOOLISH

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 entrepreneurship and hosts the popular blog: Youth Curry. and

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.

Contents
THE 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 entrepreneurial bent of mind at any age.

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

The Believers

THE BOOK OF JOB

Sanjeev Bikhchandani (PGP 89), naukri.com : 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, naukri.com became the first dotcom to IPO on an Indian stock exchange.

Learning
Sanjeev had many challenges in his way! He was often offered with mouth-watering jobs but stayed firm upon 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.

ROCK WITH IT, ROLL WITH IT

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..

Learning
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 that thing about which one is passionate. The risk-reward situation is completely in favour of the entrepreneur. Do something which is able to make a contribution and fundamentally change something that generates 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.

Learning
Feedback would not have been posible without one element, i.e. FAITH!.The company faced a little low profile. There 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

SOFTWARE COWBOYS

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.

An average business requires 6-7 years to stabilize.

GIVER OF ALL GOOD THINGS

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.

Learning
For every business 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.

SWEET SUCCESS

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

AT YOUR SERVICE
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 love 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

SUCH A LONG JOURNEY

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, one would always face several hurdles and challenges but if you have a passion to succeed in life, then one will survive any tough challenges of life an emerge as a winner. One also need to have patience during difficult times and never lose hope like Madan.

THE ALCHEMIST
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.

YEH HAIN YOUNGISTAN MERI JAAN

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 mind for being successful in any business. One should be always clear about what one wants in life. If one wants to start any business then one needs to be passionate about it and needs to work hard for success. One may worry about hard times, at the beginning but when they do come, everyone finds a way through them, the only thing is that one needs to be creative.

TRIPPING ALONG

Deep Kalra (PGP 92), makemytrip.com : Deep went into business the way every entrepreneur dreams it will happen: a venture capitalist offered him $ 2 million to start up. But with the dotcom bust he had to invest his life savings and buy back his own company. Makemytrip.com is today Indias leading travel portal.

Learning
For young entrepreneurs, they should choose their field very carefully. During the course of ones life one should plan their funding carefully. They also should hire the best personnel in ones business and one should not hesitate in hiring better people then oneself. They should promote an honest and open working atmosphere

BLOOM AND GROW

Rashesh Shah (PGP 89), Edelweiss Capital In a world dominated by the likes of J P Morgan and Merrill Lynch Rashesh Shah set up a large and successful homegrown investment bank in a single decade. But it wasnt a straight path to success - there were many bumps and detours.

Learning
hardships are part of business but one must be able to overcome them in order to succeed in life.

ITS ALL ABOUT MONEY

Nirmal Jain (PGP 89), India Infoline : Nirmal shut down his information services business in 1999 and put all his eggs in the internet basket. His gamble paid off and today India Infoline is one of the countrys biggest online trading platforms.

Learning
Entrepreneurship is a very risky business One who is entering this business must be prepared to fail otherwise one cannot survive for long in any sort of entrepreneurship business. One should ideally work in a large organization before starting any business of their own, as experience always helps. One needs to have leadership quality to succeed in life.

ITS NEVER TOO LATE

Vikram Talwar (PGP 70), EXL Service :

After a long and distinguished career with Bank of America, Vikram Talwar could have spent the rest of his years playing golf. Instead he chose to set up a company which is today one of Indias largest BPOs.

Learning
Working with a partner requires huge amount of sacrifices. If you want to get into entrepreneurship, an inner drive in succeed is what required. EXL, started with three partners, then it was sold, then the customer turned in bankrupt and then it was bought again. So here, beginning again with everything was difficult. The main problem was with partner(s). However vikram got rid of his ego and then their business kept moving.

DRUG BARON

K Raghavendra Rao (PGP 79), Orchid Pharma : Raghavendra Rao has built up a $300 million dollar pharma company in 13 short years. The son of a working class railways employee, he now dreams of making Orchid Indias first $1 billion pharma company.

Learning
During the life ,one should choose any one goal and then focus on it. One should dream big and think ahead in life. One should also believe in dignity of labour. In order to succeed in life, one should be passionate about their goals in life.

wherever I worked, even when I held zero shares, my attitude towards the work and the project has been absolutely the same.

THE BANKER WHO BLINKED

Jerry Rao (PGP 73), Mphasis : A career Citibanker, Jaitirth (Jerry) Rao was bitten by the entrepreneurial bug in his late 40s. He built up a large and profitable company (Mphasis) but recently sold out to EDS because business is about passion as well as knowing when to let go.

Learning
After college one should be instrumental in choosing the company for a job because choosing a good company can give one invaluable lessons within a short period of time. While going through hardships in business, one should think about their strengths and not about their weakness.

ICH BIN EIN ENTREPRENUER

Shivraman Dugal (PGP 76), Institute for Clinical Research in India (ICRI) : Shivraman is someone who is always looking for the Next Big Thing. After a string of interesting jobs he set up one of Indias first private colleges with a foreign tie up (Wigan and Leigh) and is now pioneering clinical research education in India.

Learning
One of the main weakness of graduates of IIM is that they dont know the importance of HR.

One has to learn to work systematically with different people.

Emotional, one shouldn't be. One has to learn to work in a team with all kinds of people. One should be cooperative while working in a team And one should also enjoy while workingrather than worrying about retirement!

FOR LOVE NOT MONEY

Shankar Maruwada (PGP 96), Marketics : He entered entrepreneurship by accident and his first venture folded up. But Shankar and his team used that failure to get it right the second time with Marketics, an analytics company which recently sold out to WNS for an estimated $65 million.

Learning
To do a business, one has to have two things in them. First, one should be passionate about the business one is doing. If one isnt passionate about the work they do, then they are in the wrong place. Second, one should have courage the to take the decisions. Decisions taken by one may turn out to be wrong but one must have the courage to at least take them. In business world, one has to play multiple roles, one has to be egoistic as well as humble.

MILLION DOLLAR SEAMATRESS

Ruby Ashraf (PGP 83), Precious Formals : Ruby turned her hobby of designing clothes into a flourishing business. Her company Precious Formals, is one of the leading suppliers of prom dresses in America.

Learning
If one is capable of dreaming big, then one must also have the courage to turn their dreams into reality. There is no formula to be successful, everyone who is successful has gone through failures in the process. The success of an individual depends upon how hard one works and how bravely one overcomes hard times. One shouldnt be demotivated by failures in life because failure is just an opportunity to learn and to improve oneself and be ready for a bigger challenge in life.

ORDER OF PHEONIX

Deepta Rangarajan (PGP 89), IRIS : Deepta worked with American Express and CRISIL before starting IRIS, a financial information management service.

Learning
One should work in any organization for a small period before actually starting a business. . Certain important of aspects of entrepreneurship like decision making can be learnt by working for a while in an organization. So experience is needed One has to be open and flexible while doing a business

HEALTH IS WEALTH

Cyrus Driver (PGP 2000), Calorie Care : Cyrus quit his private equity job in Singapore to launch Calorie Care, Indias first professional, calorie-counted meal delivery service. His own battle with weight prompted the idea for the business.

Learning
For young entrepreneurs, for doing business, one must be financially sustainable. You must carefully plan how one is going to be financially sustainable.

You must have some alternate source of income. It is good to be a consumer of the product which one is planning to launch because then one is relived from the burden of endless market research. You will know what one is selling in the market.

THE ART OF LIVING

Venkat Krishnan (PGP 93), GiveIndia : Hes worked with a newspaper, a television channel and as principal of a school. Venkat then launched GiveIndia, to promote the culture of giving in India. He is an entrepreneur but his mission is one with a difference.

Learning
you should have the courage to start a business because entrepreneurship is not easy and it is risky as well.

you should just try and experience the joy of giving at the first instance.
You should give their time, money and skills for those who need them and want to improve their lives. Things should be done with great satisfaction. Commercial success is not needed. You should never start a business for the sole motive of earning profits.

SMALL IS BEAUTIFUL
Anand Halve (PGP 77), chlorophyll : After two decades in advertising Anand set up a brand consultancy called chlorophyll. He believes small is beautiful because in the quest for size and scale you lose out on the joy of creation. This is an alternate model of entrepreneurship. .

Learning
To set goals for yourself in life, one should follow their hearts and not mind as only hear can answer meaningful questions of life. Money is not an end in itself, one shouldnt do business if one wants to earn money only. One should create love and affection at the workplace. Before starting any business, one should define Dos and Donts

A SENSE OF OWNERSHIP
S B Dangayach (PGP 72 ), Sintex : He is not the owner of the company but in every other sense works like an entrepreneur. The man behind the iconic Sintex water tanks believes in constant evolution and creation of new products. And after 34 years with one company he is still passionate about it.

Learning
You should do only that business which is likely to give one satisfaction. You should do only that thing in business, which one likes the most. You should follow their conscience. You would be successful in life if you follow their conscience.

BASIC INSTINCT

Vijay Mahajan (PGP 80), Basix : An IIT-IIM graduate, Vijay has devoted his life to addressing issues of inequality and social justice but through management techniques. He pioneered the concept of microfinance in India through an organization called Basix which gives loans to the rural poor.

Learning
There are two qualities which an individual must possess. First, one should have the quality of rising up every time one falls down. And second, one should have the quality of learning and improving from their mistakes. Entrepreneurship is not just a personal trait but also it is also a social construction and it is important for an entrepreneur to build a socially interactive environment at business.

CONCLUSION
This book has enhanced me to a great extent. Things we often think is not always correct! Say for eg. I am interested in entrepreneurship. I thought if one has an idea, a big idea, then one must aspire to own a big company. But its not so, experience, creativity and learning should also be part of your job. That is the basic element for success. Because success is satisfaction and not money. This is beautifully portrayed in the story sweet success. Overall its a good book for students who are interested in pursuing their career in entrepreneurship and for young entrepreneurs!