Top 5 business secrets for beginners!

Often, people think! What is the secret behind a successful entrepreneurship of a virgin, newly arrived company. Here are the five top secrets for you….

Secret 1: Enjoy it, what you are doing.

When you start a business, what will you have in your mind? Thinking big, as like Google, Microsoft… bla…bla…
Do you think that these fellows thought that their companies will lead the world one day. No, they enjoyed what they did. They use to invest more time and came up with many remarkable ideas. when you enjoy things, you will feel less stress, then your mind will be free to think like a kid.

Secret 2: Create Something That Stands Out.
Whether you have a product, a service or a brand, it is not easy to start a company and to survive and thrive in the modern world. In fact, you’ve got to do something radically different to make a mark today.

Look at the most successful businesses of the past 20 years. Microsoft, Google or Apple, for example, shook up a sector by doing something that hadn’t ever been done and by continually innovating. They are now among the dominant forces.

Secret 3: Create Something That Everybody Who Works for You is Really Proud of.
Businesses generally consist of a group of people, and they are your biggest assets.

Secret 4: Be a Good Leader.
As a leader you have to be a really good listener. You need to know your own mind but there is no point in imposing your views on others without some debate. No one has a monopoly on good ideas or good advice.

Get out there, listen to people, draw people out and learn from them. As a leader you’ve also got to be extremely good at praising people. Never openly criticize people; never lose your temper, and always lavish praise on your colleagues for a job well done.

People flourish if they’re praised. Usually they don’t need to be told when they’ve done wrong because most of the time they know it. If somebody is not working out, don’t automatically throw him or her out of the company. A company should genuinely be a family. So see if there’s another job within the company that suits them better. On most occasions you’ll find something for every single kind of personality.

Secret 5: Be Visible.
A good leader does not get stuck behind a desk. I’ve never worked in an office – I’ve always worked from home – but I get out and about, meeting people. It seems I am traveling all the time but I always have a notebook in my back pocket to jot down questions, concerns or good ideas.

If I’m on a Virgin Atlantic plane, I make certain to get out and meet all the staff and many of the passengers. If you meet a group of Virgin Atlantic crew members, you are going to have at least 10 suggestions or ideas. If I don’t write them down, I may remember only one the next day. By writing them down, I remember all 10. Get out and shake hands with all the passengers on the plane, and again, there are going to be people who had a problem or have a suggestion. Write it down, make sure that you get their names, get their e-mail addresses, and make sure the next day that you respond to them.

Of course, I try to make sure that we appoint managing directors who have the same philosophy. That way we can run a large group of companies in the same way a small business owner runs a family business – keeping it responsive and friendly.

When you’re building a business from scratch, the key word for many years is “survival.” It’s tough to survive. In the beginning you haven’t got the time or energy to worry about saving the world. You’ve just got to fight to make sure you can look after your bank manager and be able to pay the bills. Literally, your full concentration has to be on surviving.

Obviously, if you don’t survive, just remember that most businesses fail and the best lessons are usually learned from failure. You must not get too dispirited. Just get back up and try again.

Keep the Spark Alive !!

Inaugural Speech for the new batch at the Symbiosis BBA program, Pune 23^rd June, 2008 

By Chetan Bhagat

Good Morning everyone and thank you for giving me this chance to speak to you. This day is about you. You, who have come to this college, leaving the comfort of your homes (or in some cases discomfort), to become something in your life. I am sure you are excited. There are few days in human life when one is truly elated.  The first day in college is one of them.  When you were getting ready today, you felt a tingling in your stomach. What would the auditorium be like, what would the teachers be like, who are my new classmates - there is so much to be curious about. I call this excitement, the spark within you that makes you feel truly alive today. Today I am going to talk about keeping the spark shining. Or to put it another way, how to be happy most, if not all the time.

 

Where do these sparks start? I think we are born with them. My 3-year old twin boys have a million sparks. A little Spiderman toy can make them jump on the bed. They get thrills from creaky swings in the park. A story from daddy gets them excited. They do a daily countdown for birthday party – several months in advance – just for the day they will cut their own birthday cake.

 

I see students like you, and I still see some sparks. But when I see older people, the spark is difficult to find. That means as we age, the spark fades. People whose spark has faded too much are dull, dejected, aimless and bitter. Remember Kareena in the first half of the Movie Jab We Met vs the second half? That is what happens when the spark is lost.   So how to save the spark?

 

Imagine the spark to be a lamp's flame. The first aspect is nurturing - to give your spark the fuel, continuously. The second is to guard against storms.

 

To nurture, always have goals. It is human nature to strive, improve and achieve full potential. In fact, that is success. It is what is possible for you. It isn't any external measure - a certain cost to company pay package, a particular car or house.

 

Most of us are from middle class families. To us, having material landmarks is success and rightly so. When you have grown up where money constraints force everyday choices, financial freedom is a big achievement. But it isn't the purpose of life. If that was the case, Mr. Ambani would not show up for work. Shah Rukh Khan would stay at home and not dance anymore. Steve Jobs won't be working hard to make a better iPhone, as he sold Pixar for billions of dollars already. Why do they do it? What makes them come to work everyday? They do it because it makes them happy. They do it because it makes them feel alive. Just getting better from current levels feels good. If you study hard, you can improve your rank. If you make an effort to interact with people, you will do better in interviews. If you practice, your cricket will get better. You may also know that you cannot become Tendulkar, yet. But you can get to the next level. Striving for that next level is important.

 

Nature designed with a random set of genes and circumstances in which we were born. To be happy, we have to accept it and make the most of nature's design. Are you? Goals will help you do that.

 

I must add, don't just have career or academic goals. Set goals to give you a balanced, successful life. I use the word balanced before successful. Balanced means ensuring your health, relationships, mental peace are all in good order.

 

There is no point of getting a promotion on the day of your breakup. There is no fun in driving a car if your back hurts. Shopping is not enjoyable if your mind is full of tensions. 

 

You must have read some quotes - Life is a tough race, it is a marathon or whatever. No, from what I have seen so far, life is one of those races in nursery school, where you have to run with a marble in a spoon kept in your mouth. If the marble falls, there is no point coming first. Same with life, where health and relationships are the marble. Your striving is only worth it if there is harmony in your life. Else, you may achieve the success, but this spark, this feeling of being excited and alive, will start to die.

 

One last thing about nurturing the spark - don't take life seriously. One of my yoga teachers used to make students laugh during classes. One student asked him if these jokes would take away something from the yoga practice. The teacher said - don't be serious, be sincere. This quote has defined my work ever since. Whether its my writing, my job, my relationships or any of my goals. I get thousands of opinions on my writing everyday. There is heaps of praise, there is intense criticism. If I take it all seriously, how will I write? Or rather, how will I live? Life is not to be taken seriously, as we are really temporary here. We are like a pre-paid card with limited validity. If we are lucky, we may last another 50 years. And 50 years is just 2,500 weekends. Do we really need to get so worked up? It's ok, bunk a few classes, goof up a few interviews, fall in love. We are people, not programmed devices.

 

I've told you three things - reasonable goals, balance and not taking it too seriously that will nurture the spark. However, there are four storms in life that will threaten to completely put out the flame. These must be guarded against. These are disappointment, frustration, unfairness and loneliness of purpose.

 

Disappointment will come when your effort does not give you the expected return. If things don't go as planned or if you face failure. Failure is extremely difficult to handle, but those that do come out stronger. What did this failure teach me? is the question you will need to ask. You will feel miserable. You will want to quit, like I wanted to when nine publishers rejected my first book. Some IITians kill themselves over low grades – how silly is that? But that is how much failure can hurt you. But it's life. If challenges could always be overcome, they would cease to be a challenge. And remember - if you are failing at something, that means you are at your limit or potential. And that's where you want to be.

 

Disappointment's cousin is  frustration, the second storm.  Have you ever been frustrated? It happens when things are stuck. This is especially relevant in India. From traffic jams to getting that job you deserve, sometimes things take so long that you don't know if you chose the right goal. After books, I set the goal of writing for Bollywood, as I thought they needed writers. I am called extremely lucky, but it took me five years to get close to  a release. Frustration saps excitement, and turns your initial energy into something negative, making you a bitter person. How did I deal with it? A realistic assessment of the time involved – movies take a long time to make even though they are watched quickly, seeking a certain enjoyment in the process rather than the end result – at least I was learning how to write scripts, having a side plan – I had my third book to write and even something as simple as pleasurable distractions in your life  - friends, food, travel can help you overcome it. Remember, nothing is to be taken seriously. Frustration is a sign somewhere, you took it too seriously.

 

Unfairness - this is hardest to deal with, but unfortunately that is how our country works. People with connections, rich dads, beautiful faces, pedigree find it easier to make it – not just in Bollywood, but everywhere. And sometimes it is just plain luck. There are so few opportunities in India, so many stars need to be aligned for you to make it happen. Merit and hard work is not always linked to achievement in the short term, but the long term correlation is high, and ultimately things do work out. But realize, there will be some people luckier than you. In fact, to have an opportunity to go to college and understand this speech in English means you are pretty damm lucky by Indian standards.. Let's be grateful for what we have and get the strength to accept what we don't. I have so much love from my readers that other writers cannot even imagine it. However, I don't get literary praise. It's ok. I don't look like Aishwarya Rai, but I have two boys who I think are more beautiful than her.. It's ok. Don't let unfairness kill your spark.

 

Finally, the last point that can kill your spark is isolation. As you grow older you will realize you are unique. When you are little, all kids want Ice cream and Spiderman. As you grow older to college, you still are a lot like your friends. But ten years later and you realize you are unique. What you want, what you believe in, what makes you feel, may be different from even the people closest to you. This can create conflict as your goals may not match with others. . And you may drop some of them. Basketball captains in college invariably stop playing basketball by the time they have their second child. They give up something that meant so much to them. They do it for their family. But in doing that, the spark dies. Never, ever make that compromise. Love yourself first, and then others.

 

There you go. I've told you the four thunderstorms - disappointment, frustration, unfairness and isolation. You cannot avoid them, as like the monsoon they will come into your life at regular intervals. You just need to keep the raincoat handy to not let the spark die.

 

I welcome you again to the most wonderful  years of your life. If someone gave me the choice to go back in time, I will surely choose college. But I also hope that ten years later as well, your eyes will shine the same way as they do today. That you will Keep the Spark alive, not only through college, but through the next 2,500 weekends. And I hope not just you, but my whole country will keep that spark alive, as we really need it now more than any moment in history. And there is something cool about saying - I come from the land of a billion sparks.

Dhirubhai's secret of success

THE PASSING away of Dhirubhai Ambani, Chairman of the Reliance group on July 6, signals the end of an era in Indian corporate history. For the company, however, it raises some queries regarding the future of the group.

While there is no shortage of plaudits for the genius and financial acumen of Dhirubhai Ambani, his two sons — Mukesh Ambani (45), Vice Chairman and Managing Director, and Anil Ambani (43), Managing Director of Reliance — have inherited the reins of a Rs. 65,000 crore empire.

The reasons why Dhirubhai Ambani is touted as having the equity cult in the country are not far to seek. The company entered the capital market in 1977 with what was then a huge public issue of 28 lakh shares under the name of Reliance Textile Industries. Thereafter, it has approached the market on several occasions and the investing public have always responded heartily.

The stage was set in 1985 itself when the company's annual meeting was held in the Cooperage grounds of Mumbai (a football stadium) and attended by no less than 12,000 eager investors.

First to tap GDR market

Reliance was also the first Indian company to successfully tap the Global Depository Receipt (GDR) market in 1992. It is also the only Indian company to raise 50 and 100 year bonds in the U.S. debt markets. Thus, it successfully raised cheaper funds overseas with lower borrowing costs to repay higher cost Indian borrowings.

The company also successfully dabbled in the stock market; often creating controversy and there is no shortage of accusations that it `managed' the political environment and has often been seen to have influenced policy making.

In the years of the `Licence Raj' — industrial policy declarations made periodically where public sector enterprises were given preference for licences, example, availability of raw materials, foreign exchange and quotas — a phenomenon that peaked in the late 1970s and the early 1980s but died out in the 1990s, Ambani's skills were at their best. A senior industrialist, when asked what differentiated Ambani from other businessmen, said, "Everyone managed to get things done during that period; only Dhirubhai managed it better.''

Phenomenal growth An interesting fact is that the Reliance group has seen its most phenomenal growth in the last decade and a half; the period when Dhirubhai Ambani had already suffered his first debilitating paralytic stroke. Recall that when he suffered the stroke in 1986, the company's assets were a mere Rs. 1,000 crores. Then, it had three major projects going on stream — PTA (purified terephthalic acid), PSF (polyester staple fibre) and LAB (linear alkyl benzene) — all inputs for polyester — in Patalganga. The Hazira mega complex was then only an aspiration.

The secret of the success post-1986 is buffeted by the transition of power from the father to sons Mr. Mukesh Ambani and Mr. Anil Ambani with a clear cut division of responsibility between the two under the supervision of Dhirubhai Ambani.

While one face of Reliance is its project implementation skills, the second is the financial wizardry. The project implementation team is kept away from all the happenings of the corporate team. The skills of the project team are borne out by the fact that it was able to implement the mega projects at Patalganga, Hazira and Jamnagar in record time.

The financial team has, over the years shifted from raising funds from domestic equity investors to financial institutions and overseas investors. Today, Reliance enjoys a high credit rating and has no problem convincing institutional investors. The project implementation and finance teams are considered worldclass and top of the line.

Today the Reliance group is the country's largest enterprise in the private sector with revenues in excess of Rs. 60,000 crores, assets of Rs. 55,000 crores and a net profit in excess of Rs. 4,500 crores. Its sphere of activity span petrochemicals — up and down the value chain — including synthetic fibres, fibre intermediates, textiles and oil and gas. More recently, Reliance entered financial services, power, insurance, telecom, biotechnology and infocom.

Foray into telecom

The recent diversifications are unrelated and that is where Reliance will have to really pass the acid test. That the group does not lack financial muscle to power its way into these areas is a given, but each of the new areas is as unrelated to the other as it is huge. The telecom-infocom foray is a case in point. The Reliance group has committing to invest more than Rs. 25,000 crores in this sector that is beset with competition.

Reliance has a 26 per cent stake in Reliance Telecom which provides cellular services to over 3.50 lakh subscribers over 15 States. The group will also be investing in building a broadband backbone, to connect 115 cities with 60,000 kilometres of fibre. Reliance Infocom plans to have a national footprint in telecom with a presence in fixed line, mobile, national and long distance and international long distance telephony, data, image and value added services. This, however, goes against the recent international trend of choosing the more remunerative value-added services over building and renting telecom infrastructure.

Then there are new areas such as insurance and biotechnology that needed to be tackled. This is where the mettle of Mr. Mukesh Ambani and Mr. Anil Ambani will be tested or not.

Ramnath Subbu

in Mumbai

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