Completed reading Stay Hungry Stay Foolish.Actually,I completed reading the book one week back but I didn't updated the highlights of the book.
After reading the book, I feel like joining IIM-Ahmedabad and also feeling like joining a small company for a job rather than a bigger one.
Here are some of the important points from the book.
Sanjeev Bikhchandani's (Founder of naukri.com) advice to young entrepreneurs is - If you are starting a business to make money,don't do it.Chances are that you will fail,because there will be hard times.And if your motivation is not something beyond money,that time will test you.You will quit and go back to your job.But if you are doing something other than money,you will rough it through the hard times.
Vinayak Chatarjee(Founder of Feedback Ventures) says "What management education does is provide you a perspective.but it doesn't force you to work for anybody else.It's an education degree,that's all"
Vinayak,when his company was in huge losses, went to Deepak Parekh and cried "Sir,I really need some help".Then Deepak looked straight in the eye and said, "you will be able to get out of this mess if I bail you out now?" Five minutes later Vinayak walked out of the office with a cheque in his hands.
Vinayak says that "that is the debt that I can never repay in my life.The financial debt is cleared, we are debt-free today, but it is a very humbling experience".
- If you are honest to your purpose, you've never cheated anybody and you show clear focus, commitment, there are people in society who will go out of their way to back you.
- Don't get too concerned about peer pressure.You may be successful or may be unsuccessful, but at least you will have the pleasure when you see yourself in the mirror to say "I did what my inner voice told me".
Ashank Desai(Founder of Mastek)
He says "I don't know whether we made sacrifices. Ultimately all of us do what we do, because we like it. Yes, if you take a normal family life, ours was definitely not balanced.I took my first holiday 15 years after starting Mastek".
Sundar,a core team member of Mastek, says about entrepreneurship "don't just think about it, don't just wish for it, jump into it and do it, of you are really serious".
- Remember if the startup fails, it is your idea that failed, not you.
Advice from R.Subramanian(Founder of Subhiksha)
If you want to do something in the real world, sell products to people, impact consumers, it makes more sense to work in real life companies, smaller the better. Don't join a Hindustan Lever or a Coca Cola. Join smaller companies because you will get far more exposure.
Narendra Murkumbi(Shree Renuka Sugars--Rs.1000 Crore Company)
- He says "I don't think my lifestyle has changed that much.I am still in a rented flat.Our own flat is not going to be ready for another year.
***To Be Continued***