Agenda of Development

I am impressed with our voters. How much ever it may seem that there is cast combination game in our elections, at the macro level, it is still about development issues. Recent results in Delhi, Rajasthan, and MP etc. are glaring examples. Our fellow citizens know what they are doing - master plan of some of those in BJP to camouflage the communal issue as a terrorism issue backfired. People have gotten over with the communal issue. It is actually very nice that Sharukh Khan mentioning he doesn't feel like a minority. We need more Muslims openly condemning terrorism - this will totally defeat communal politics. We need more dalits opposing cast based reservations - this will totally defeat cast based politics.
Let us not forget the fact that BJP had stormed to power in MP, Rajasthan etc. in last elections based on bijli-sadak-pani issue. We all need development. We all know we want to get over with the issue of communal politics. Only people who are getting exploited - politically labeled minority communities, can make this happen - they have a huge role to play to bring our politics back into development agenda.

Jai Hind.

My Country, My People

Last few days have been a show of failed leadership in our country. It's surprising to see that our leaders don't have an appropriate response for an attack on our country. Our leaders have left us in shame. Where are the bygone days of Subhash Chandra Bose or Bhagat Singh? Where are the days when we did nuclear tests? Where are the days of of Kargil?

Here is a Dy CM who calls an attack on the nation a small incident. There is a CM who dares to take a picnic like tour to the ground zero. Here is a Home Minister who says terrorists had left before he reached spot. There is a Prime Minister who gives a speech which is depressing! Hey, what are we? Where is our courage? Who in this country is saying "bring 'em on".

We are better than this. Let's go get those who attacked our country and who killed our people. Let us punish all these lazy dumb politicians who don't understand what an attack on our country means. Today, let us stand united, in the name of India, to protect our country.

Jai Hind.

You don't have to have a written business plan!

I want to be clear here - you don't have to have a written business plan to be successful in life. Sportsmen like Tiger Woods, Pete Sampras, Shumacker, Sachin Tendulakar or showbiz successes like Madonna, Tom Cruise, Amitabn Bachan or politicians like L.K. Advani, Obama etc. you name it - am sure didn't have a written business plan to become successful. I would agree some of them might have had professional managers or advisors to manage their ongoing businesses, but not until they figured it out.


However, you need to have a strategy - a plan to win. It could be written or it could be in your mind - but you gotta have it. You need to think about it. You can raise money if you can successfully convey your talent or ideas in some form of communication - need not be a business plan. But, in the business world, business plan has become a norm of communication - your idea to create wealth, how you are going to implement your idea, who will be with you etc. If you can successfully do this with 6-10 slide presentation, go for it. If you can do this over a whiteboard, go for it! But you gotta have it.

Dream and then plan to achieve it

One of the hardest jobs for many entrepreneurs is to write a business plan. But a good entrepreneur knows a good business plan wins 50% of the battle even before it begins. Dreaming about what you want to do, what you want to be, is the first step and the most important step, but charting out a map to get there is the second step to become successful.

A "business plan" is a plan to get to your target. It is a description of what you are planning to do to win. It is true that you can't always reflect what you have in your mind onto a paper. However, if you are not able to write a business plan, you can't build an organization or a company. You can still be successful as an individual, but effectively communicating the plan to get to your objectives can enable you to build a successful organization, a successful company.

I view many successful actors, politicians, artists etc. as successful individual entrepreneurs. Amitabh Bachan wouldn't have written business plan, but I am sure he had his plan charted out pretty well. Whereas, Vinod Khosla, when he started SUN, had an excellent business plan (described as one of the best business plans by John Doer). Both are successful in their own right.

In my experience, writing a business plan which communicates your path to win is essential to build a great company. It is also true that you probably don't end up doing what you planned. However, as the Chinese proverb says, if don't have a plan, you can't deviate from it.

Whether you want to be successful individually or want to build a great organization, one must have a plan to win. But if you want to build a great organization, you must communicate the same by putting it in writing. You never know someone would always guide you through uncharted territories. And yes, the moment you are committed, providence changes too!

Entrepreneur and commitment

The following passage occurs near the beginning of Murray's The Scottish Himalayan Expedition (1951):... Until one is committed, there is hesitancy, the chance to draw back, always ineffectiveness. Concerning all acts of initiative (and creation), there is one elementary truth the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, then providence moves too. A whole stream of events issues from the decision, raising in one's favor all manner of unforeseen incidents, meetings and material assistance, which no man could have dreamt would have come his way. I learned a deep respect for one of Goethe's couplets:
"Whatever you can do or dream you can, begin it.
Boldness has genius, power and magic in it! "

This is precisely what an entrepreneur needs - dreaming is the first step. Beginning your journey towards your dreams is the second step. Figuring out your way is the beginning of third step.

Once you commit yourself to the journey, providence changes. If you are committed, let us explore the third step a little in our discussions next.

Early Stage Deal Flows

One of the Venture Capitalists in the Silicon Valley recently asked me why there are no early stage deals (arguably) in India like they do in the Valley. The reasons are clearly unclear to me.

One of the reasons could be the lack of development of culture of entrepreneurship overall. There is definitely a ‘business mentality’ in many communities in India – is it of wealth creation? Small business is not exactly wealth creation. What we see in Silicon Valley is the culture of wealth creation through entrepreneurship. It is a culture of creating value, working for betterment of human life and creating wealth. What does it take to create a culture of entrepreneurship to create wealth and value? What does it take for VC's to invest? A large section of investment community agrees that VC's are opportunistic investor (by definition?) and it is up to the entrepreneur to create or find opportunities. Or, is it? I have seen both venture capitalists and entrepreneurs working in a perfect eco system to create this culture. In many of the start-ups which succeed, it is a 50-50 partnership (give and take a small percentage here n there) between the VC and entrepreneur.

The other reason could be lack of evangelism on entrepreneurship in universities. Stanford university encouraged its faculty to participate in commercializing technologies through private industries. Entrepreneurs are rock stars in the valley. They are not looked as “money making” capitalists. To be an entrepreneur is to be cool in the valley. Not so much everywhere yet in India. We need more evangelists for entrepreneurship.

The other reason could be education – classic argument – teach students to work for others OR make students to learn to work for their own?

Whatever the reason is, we definitely need more entrepreneurship. People may say what am I talking about – there is a flurry of VC activity in India. Well, there is only Private Equity arbitrage going on right now – very few early stage deals.

Looks like I get it

In one of my earlier blogs, I mentioned 3 E's - Energy, Education and Exposure. I would like to shift my approach a little bit in this blog. We probably need H2E's - Healthcare, Education and Energy. Exposure should happen as part operations.

I have observed the average life span of people in developed countries and it astonishes me when I compare the same to that of in India. US and UK have been able to achieve this through consistently advanced programs of healthcare, good food and exercise. I think this is one of the fundamental elements that we are missing for the large population in India.

I recently learnt about the factors of production, productivity and how this relates to the GDP of a nation. A healthy workforce, empowered with right kind of education and abundant resources of energy can create wonders. I think enough has been said and done in technology to jumpstart that sector. Many people understand now how technology can change life. Many people understand how my H2E's can also change life of a nation, however, there are not enough wealth creation opportunities yet.

John Doer keeps saying Education and Healthcare sectors in the US need urgent attention. These two sectors suffer from two different problems. Healthcare is dominated by complexity of FDA, R&D and power of few providers. Whereas education is suffering from its own bureaucracy. Both have high entry barriers to innovation (there by high entry barriers to entrepreneurs).

However, it is a different scenario in India. Both education and healthcare segments are wide open and not so much controlled by the government yet. Education sector is somewhat controlled by the state governments, however there are enough opportunities for innovation.

Indian entrepreneurs must look into these segments, which can make us leap orbits and make a Great Indian Dream come true.