There are things they teach you at business school. And then there are other things. So many of India's most successful enterprises are family-led concerns that there is a whole school of thought emerging— they must be doing something right. So, what is it?
Suggests Pratish Sanghvi, co-founder of the last mile delivery service company Grab.in: "Business schools today, in their quest to create individual stars of the future commercial ecosphere, often forget to instill the fundamental lessons that segregate the successful entrepreneur from the rest. While traditional businesses and family enterprises often start training the younger members of the family from a very young age, they are often not allowed to handle the significant matters. It is a bottom-to-top approach which is followed, in contrast with the B-school curriculum, which, from the very beginning, only trains students to become CEOs and managers, without giving them basic knowledge of the groundwork. As a result, in the real world, the powerpoints and blueprints prepared by B-school grads fall flat on their face as they are impractical and made by considering only what Case theory 101 ordered, not the ground reality."
He goes on: "Another observation in B-school learnings today is the lack of attention to detail. Generations of business tycoons have grown up listening to stories of how JRD Tata (its first chairman) used to throw a fit even if there was one chink or a spot in the cutlery or plates on Air India’s flights. While these maybe ignored by B-school students as ‘redundant information’ or minor issues, the attitude of delivering an impeccable experience to the customer develops only when you have a strong sense of identification with the business and the desire for perfection."
According to a recent study by OnStartups, 48.1 per cent of entrepreneurs state that they grew up in a family business.
Sanghvi finally asks, “Can a three year B-school training impart a business acumen equivalent to a lifetime of learning from a business family?”
“The answer can be a triumphant yes, if only that education goes far beyond academic restrictions and focuses more on practical lifesaving tools,” he adds.
On Father's Day, startup founders on their dads
Does daddy know the best? We asked this question today, on the occasion of Father's Day.
Raghav Chandra, co-Founder UrbanClap
“My father is my oldest and greatest friend and support pillar. I remember him helping me through my first startup—he travelled down for days to help hiring and operations, sharing the burden and stress. He always seemed to be the one I took for granted. That in itself is the greatest sense of support.
Neha Bagaria, founder and CEO, JobsForHer
"My father is an entrepreneur himself and I was pretty sure I would walk down that path as well. He was always on board with my career choices. He supported me, pushed me and motivated me to strive harder to achieve my career goals. His best advice has remained with me in my entrepreneurial journey—Always look five years into the horizon when making any big decisions. Don't focus on the short run; instead, keep a broader perspective. Even with your career, it doesn't matter if you have taken a break for a few years. What's a few years of break compared to the long span of a person's career?”
Vishwavijay Singh, co-founder, SaleBhai.com
“My father is a very honest man, and he has always advised me to be one myself. The best advice he gave me was not to be deterred by poor short-term results, as there is always a silver lining that we cannot comprehend immediately, but becomes apparent over time. One practical advice that has served me well is to always combat stress with action instead of letting it drive you into passive despair. Not only does being active de-stress you, it also helps you focus on dealing with it positively."
Sunil Gupta, founder and director, ExportersIndia.com
"My father strongly advocated that experience is the greatest teacher. A pillar of strength, he taught me that ‘We never lose. We either win or we learn.’ This mantra kept me going in trying times and I turned failures into stepping stones for success. My father, an epitome of simplicity, inspires me each day to keep everything in life simple, because pretentiousness—be it in processes or thoughts—only makes it harder. Simplicity is hard to attain, but it leads to success in personal and professional spheres of life; this is what I have experienced following my father’s advice."
Gurinder Singh Bhatti, chairman and MD, ESS Global
"My father had a small establishment in Amritsar and I still remember I used to help him in his business at the young age and used to do the collection for him. He guided me to be honest and be fair towards the work you do as you need not to speak loud, your work speaks for you. He taught me to be competitive in a healthy way rather than following the competition and be the follower. Aim for setting the new trends and be the leader."
Vivek Kejriwal, founder and CEO, OneWay.cab
“My father taught me: 'I can only advise you. It' up to you to take decision. If I stop you, out of respect you may obey me; next time you will do things of your own without asking”.
Shreenidhi, co-founder, Flintobox
"When I was in my sixth grade, I had to shift to a new city. It was a terrible feeling for me to leave everything behind—my school, my friends, my cozy little room and so many little things that I had grown comfortable with. It was the first time I was shifting to a new place and starting things from scratch. To console me, he (father) used to say, 'You’ll never forget your ‘first times’ whether you like them or not. And the more of these you experience, the more you get out of your life'.”
Lot's of learnings there! But how many of these founders also went to B-School? The debate goes on...
