This picture was taken at the Landmark bookstore at Mumbai airport

Readers still hungry for 'Stay Hungry'.

Well, now a kind reader has written in with his interpretation of the ‘common factors’ which lead to success. Here goes:

 Dear Rashmi,

As I was  reviewing the notes I had jotted down while reading “Stay Hungry Stay Foolish”,  I felt that I should drop you this note.  In each chapter, I had noted down the salient points mentioned by the entrepreneur being interviewed and I compared the notes across chapters, I could see common themes running across stories. 

This reminded of  another  interesting book I read a few years back – “Creativity” by Mihalyi Csikszentmihalyi. In this book, Mihalyi tries to discover the common elements amongst “Very Creative” people. For that he has interviewed some 85 people from various fields including science, arts, philosophy and others.  It is a very well written book and does a nice job of identifying the common patterns.  However, Mihalyi did not include any “Creative” people from the business field and I have always felt that this topic (i.e. a deep dive on the attributes commonly found in entrepreneurs ) needs to be addressed. Your book comes pretty close to it. I was wondering if you would consider writing a sequel, that addresses this topic. You have a considerable head-start based on the work done for Stay hungry. A book like that should be able to attract international readers as well.

By the way, I am joining IIM A’s PGPX program starting in April. Was glad to

know that you are an alumnus. 

Cheers,

Vinayak Bhat

P.S. – My notes on the “Common themes” mentioned in Stay Hungry:
1.     Emphasis on the passion for the chosen field and view of monetary gains as a valuable by-product
2.     A mentor/God-father who believed in the entrepreneur and offered a generous helping hand at some point
3.     Failure and some times a near death situation on one or more occasions.  Staying power to see through difficult times
4.     Strong emotional and often financial support from spouse.
5.     Emphasis on choosing right partners and the need for convergence of values and attitudes amongst partners
6.     Average of 6 to 8 years to stabilize
7.     Ability to adapt and make mid-course corrections
8.     Lot of exposure in the early stages that helped them prepare for the eventual phases
9.     Long association with trusted partners
10.  Luck!

dear Rashmi

My name is Eva Reubsaet and I am a young Dutch entrepreneur. Twelve years ago my parents moved the production of memorial stones from Poland to India. After visiting more than sixty granite companies in the South of India, they have found an excellent partner in Tamil Nadu. From that time onwards, we are very committed to our partner and have established a good relationship on both business and private level.
 
When I was sixteen, I travelled for the first time to India to visit the granite factory and to meet our partners. I made a round trip through South-India on my own, but the last couple of weeks I stayed at the house of our partners. As a tourist, you mainly visit popular sight seeings described in travel books, but our partner showed me also another India.
 
I visited textile companies, hospitals, business schools, shopping malls, steel companies, and many more organizations. I realized that Dutch and Indian companies could benefit from each other and that they should invest in partnerships. 

The economic developments in India have always inspired me. Back in The Netherlands I went to the University of Maastricht to study International Business. After completion of my Bachelors, I decided to continue my Masters in India. I studied my MBA at the Bangalore Management Academy, and graduated in October 2009.
 
During my studies, more and more companies in The Netherlands contacted me about possibilities in India. During my first project, I advised and supported a Dutch calendar production company who would like to outsource part of their production to India. I executed a market analysis and brought them into contact with Indian offset companies.
 
This project was the start of my consultancy firm, Booming India. Together with my team we trigger Dutch companies to think about India. We offer workshops and we assist companies during the complete project of doing business in India. Our website, www.boomingindia.biz is a strong media tool to inform companies in The Netherlands about the developments and possibilities in India.
 
I lived in Bangalore for one and a half years. I love the country, culture and people. As a young entrepreneur I feel really excited to do what I love to do. To create win-win situations for companies both in The Netherlands and in India. Your book and the entrepreneurs have inspired me to fulfil my dream…

Thank you and the entrepreneurs for the inspiring stories!

Hello Rashmi,
 
I am Saurabh, I have recently read your novel “Stay Hungry Stay Foolish” and that is how i got your mail id. I found that novel very inspiring and motivating.
 
I have plans to start my own magazine (Business Magazine), and i wish to see your help coming in my entrepreneural journey, as you have your own magazine(JAM) and you also provide consulting. As of now i dont have any prior experience in Magazine business.
 
My aim of launching a new Magazine is not to earn money but to make people aware about the new ideas that can certainly change their lives. I wish to add value to the lives of the middle class, and Upper middle class people which will further pull up the lower and lower middle class segment by creating Job opprtunities.
 
A brief introduction about myself:
Name :Saurabh 
Age: 25
Native Place : Noida
Work Experience ; 2.5 Years Tata Consultancy Services
Currently : Doing MBA from Pune
As a matter of fact, I have already taken my name out of placements…
 
Please contact me, I need your Help !
 
Thanks,
Saurabh

My response: Saurabh, it’s good that you have a goal in mind and even though it may seem distant and unattainable today – like climbing Mount Everest – it is certainly possible. If you keep two things in mind:

Remember, you cannot climb Mount Everest without the right training and equipment. And you cannot climb it in a day! Apply that principle to whatever your choose to do in life and you will find success. All the best!

This list also includes authors like Paulo Coelho, Ian McEwan and titles like ‘Superfreakonmics’. So I don’t know whether to be offended or flattered

Coincidentally, on the same day I got sales figures from my publisher for the past 6 months (July-Dec 2009). We crossed the 1 lakh mark back in June 2009, and since then the book has sold another 50,000 copies.

So it looks like ‘silly’ is selling, and what’s more important, making people think about what they really want to do with their life.

And that, to me,  matters more to me than what any critic has to say!

Mam,
This is Ramesh hailing from Theni, a small town in Tamil Nadu. Actually I read your book “STAY HUNGRY STAY FOOLISH” and I want to tell you about me. My father is an agriculturist and mom is a home maker. I did my schooling in Theni and I did my engineering in Coimbatore.

My plan was do some business as I was not aware of placements after graduation. I started thinking of what can I do and decided to start a a KPO and BPO on my own. I needed about Rs 1 lakh to start but I had had only 50K so I called my friend and he said he can can invest only 25K

We signed the agreement but then he didn’t start and he took his cash back. I felt very much dissappointed and started looking for a job so I can get capital to invest in business. So I am going to work for 2 years and now I am also planning to do my MBA in some reputed bschool.

Actually even Rs 1 lakh I think would be less, we need around Rs 3 lakhs so I thought of getting one project with that Rs 1 lakh and then use the money we earn to buy more PCs, get some more projects etc But then I did nothing. So please suggest what can I do.. 
thanks
Ramesh R L

My response: Ramesh, you are on the right track but at the first sign of hardship what do you do? Give up. In the industry you plan to enter you can very well work from a cybercafe for first few months (saves cost of buying PCs). You can do projects based on your technical knowledge sitting at home in your pyjamas and thus generate the required capital (Rs 1 lakh is less than $2500!).

But I think it may be better for you to work a couple of years, get practical exposure, gain some confidence and then revisit the idea you have in mind. Money is only one issue; more importantly who is your client, what is your service and why should he choose to work with you??

Think about it and meanwhile keep your eyes and ears open for someone who can join you in your enterprise. Two heads which complement each other are generally better than one …!

Then he asked: Along those lines, do you have any thoughts or advice for younger folks?

This was my response:

I think the biggest issue I see with young people today is that they have taken this whole thing of “I’ll get into the right college” as the end of their ambition. They try very hard, and they struggle, and they get into the college of their dreams like an IIT or IIM or whatever. Or, on the other hand, they don’t get into the college of their dreams. Either way, they don’t see that that’s just the first point. That’s the steppingstone for their whole life.

Even if I get into the best college, I still have to find the way forward. I have to find something where I really am able to give my best, where I am able to achieve what I am meant to achieve in my life. Not only achieve in terms of reaching a certain designation or salary or whatever, but to really wake up every day in the morning and feel charged up to go and do what I’m doing—to feel I’m making a difference. I’m not saying all of them have to become entrepreneurs. But to really be alive, to be looking to learn and grow continuously—that, I feel, is not happening as much as it should.

If you graduate today, you have to first go through the grind. The first 3-5 years is always going to be a learning experience. Just because you are from a good college, you can’t insulate yourself from the world. If you are in marketing, you will have to go on the street and be a salesman—which is a way many companies in the past trained you. If you join Hindustan Lever, you actually go to the villages to be an assistant salesman.

Be an entrepreneur if it’s really your kick, but get 2 years of experience in the field where you want to join. Start your enterprise, or go work with a smaller company. We have IIM students who are working with small companies where they get the responsibility of becoming a CEO. Do something like that where you get overall experience.

If you are in a job then also give it your best. Don’t just go out like a robot everyday and do your bit and come back. Do more than your bit. Take the initiative, have the energy, know that you can make changes happen. Not immediately, not today, but over time, yes, there are many ways in which you can influence your company, your team, and your boss. Don’t just accept that “this is the way the world is, and this is the way it’s going to remain; I just have to take my salary cheque and go home”. Then you are not going to be happy.

You can read the rest of the interview here.

Poster of Hindi book launch

The Hindi edition of Stay Hungy Stay Foolish published by Prabhat Prakashan was launched on 26th September 2009 at Reliance Time Out (Ambience Mall, Gurgaon).

Sanjeev Bikhchandani (naukri.com), Shantanu Prakash (Educomp) and Shivraman Dugal (ICRI) were some of the entrepreneurs from the book who attended and interacted with the audience.

A big thank you to my friends Dharmaraj Iyer and Haridas for taking the pains to put up some videos they shot at the event on their blog. Click here, and take a look.

http://www.harmonyatwork.in/blog/2009/09/stay-hungry-stay-foolish-launches-in-hindi-rashmi-bansal/

Launch of SHSF Marathi Edition

The Marathi edition of ‘Stay Hungry Stay Foolish’ was launched at Crossword, ICC Towers, Pune on August 8, 2009.

The publisher is Ameya Prakashan, and the translator is Vidula Tokekar. Who, interestingly, is an entrepreneur herself. The book was released by Indira Parikh, former dean IIM Ahmedabad and one of faculty members whom almost student fondly remembers (esp those who took ERI).

The Chief Guest was Vivek Sawant, MD of the Maharashtra Knowledge Corporation. Click on pic above to read Indian Express coverage of the event.

 One of the touching responses to the Marathi edition came from Waman Jog, an ’80 year young’ retired engineer who does voluntary work for an NGO, Students’ Welfare Association located in Pune. He wrote:

Recently at random I picked up Marathi translation of your book ‘Stay Hungry Stay Foolish’. After reading that book I was so much impressed that I donated a copy of the book to the institution as I felt that it is a MUST for all the students.

Not only that I told my grandson and granddaughter in law, who are both IT engineers and also my granddaughter who is studying E & TC in COEP at Pune, that they must read that book.

Wonderful to see that age is no bar, when it comes to the appeal of ‘Stay Hungry Stay Foolish’