Raj Shankar's Blog, page 16

Happy Children’s Day 2016

Factual Details: 14th November every year is celebrated as Children’s Day in India. It is because 14th November is the birthday of India’s First Prime Minister – Jawaharlal Nehru. He loved children and insisted that they be given love and affection, because they were the future of his beloved motherland.

But what we miss is that there is a child inside every one of us. And it is the grown-up in us who stops the child inside us from manifestation. While all of this may seem abstract and philosophical, ask anyone who is towards the end of their life and he or she is bound to speak about the innumerable things they wanted to do, but never did. Why? Because they let the grown-up voice in them get the better of themselves.

The only way to truly live life is to live like a child, with that childlike attitude. It is a life of curiosity, joy, experimentation, and fun. A life without inhibitions, without prejudice, without fear of failure and without a need to comply to others beliefs. I strive hard as a teacher to embed this lesson into every class I teach and at every level. Let us allow the child in us to live all through life.

Happy Children’s Day!

Books and Me: Strategy Rules – Five Timeless Lessons from Bill Gates, Andy Grove, and Steve Jobs

Book Title: Strategy Rules – Five Timeless Lessons from Bill Gates, Andy Grove, and Steve Jobs

Strategy Rules Book Cover

Author: David B Yoffie and Michael A Cusumano

‘How To’ books in management are aplenty! Over time one tends to grow tired reading them. Rightly so – but this book may be an exception. There are many reasons for this:

Because you are a fan of either of the three CEOs mentioned in the title
Because you believe strategic thinking as a skill can be learned
Because you are a fan of strategy as a subject

Whatever be the reason, you are bound to find something of interest. While the five lessons (timeless according to the authors) may seem obvious, the better part of the book is how they link it to specific actions one can take to strengthen them. The five lessons are:

Look forward, reason back
Make big bets without betting your company
Build ecosystems and platforms – not just products
Exploit leverage and power – play judo and sumo
Shape the organisation around your personal anchor

Every lesson has a dedicated chapter that provides number of examples from the lives of these master strategists. It then distills them into four principles each (20 principles in all) that one can ‘learn’ and ‘practice’. The authors’ having tracked these CEOs and their companies over time have an advantage in presenting this subject. It is also very different from the usual books on strategy that makes everything look so abstract. The book is good reading for entrepreneurs and business owners. Aspiring leaders will find number of tips and techniques to practice strategic decision making skills.

Overall an easy to read book, with simple to understand and easy to learn principles (distilled) which can help every one of us to learn and practice strategy. While it does look easy, on close study, one is bound to find contradictory lessons and practices. It is in digesting them that one can become a good strategist. The easy looking lessons have simple yet profound principles to learn and practice. It requires the same amount of courage, presence of mind, perseverance, and passion like the CEOs studied.

Every entrepreneur will find some definite take aways from this book. The last chapter also highlights that while all of the CEOs were strategic and successful, each of them had their own method. Their strength was in finding out their method early and aligning everything else to it. It is probably the biggest lesson every entrepreneur must learn and do: Find who you really are? Find what your method to business is? Find what your method to leadership is? Align all your activities around it. Then you will find success and happiness!

Isn’t that what people aspire for, eventually! Entrepreneurship is after all living your dreams. Try it. I am sure reading this book will inspire finding yourself, at the very least.

Happy Reading!

Brand or Business – which one first?

During a recent conversation with an entrepreneur in the food sector – I was intrigued by the entrepreneur’s firm belief in what he was trying to do. Just like all other entrepreneurs he seemed to have his undeniable logic in place. Here is the essence of it.

Food businesses probably experience the largest failure rate. While all of them had a strong economic sense underlying the business, most did not build a brand. He felt that this could be a primary reason for failure. If people don’t recognise the brand and return to enjoy the food, there can be no business. Hence economics of making surplus should come only after having established a trusted brand. He felt that this was important. So, he has gone about building the brand first – a fairly well recognized name in the local market. He is about two years in the business and is approaching break-even only now. But because his brand is fairly well recognised and has a high return rate amongst customers – he feels its only a question of time before he starts reaping the fruits of his efforts and belief. In fact he is almost on the verge of raising money as well. He hopes to use the money to expand his small but well recognised brand.

While his logic seemed in place, what got me thinking was his strong message that food businesses must build a brand before building the business. Is this really true? What did he mean by the brand? He said – a promise. He said – consistent delivery of services. He said – trust. He said – great experience. I think they are all right. His logic therefore seems very well placed. He said, ‘If I can win customers first and keep them coming back for my food, it is fairly easy to start making money. But if I focus on making profits and breaking even quickly – sustaining the food business seems an unsurmountable challenge.’

The reason for sharing this message here is because many times when we teach entrepreneurship in class, we attempt to make building enterprises a rational process. Probably this is yet another example of why it may not be true. But the entrepreneur was also humble enough to accept that learning the tools and techniques from books and classes is what gave him the confidence and kept him sane through the tough times. His key to sustaining and thriving is – read one hour everyday.

Knowledge is important. How you acquire it is immaterial. Isn’t that wisdom?

Happy Thinking!

Books and Me: Brick by Red Brick – Ravi Matthai and the making of IIM Ahmedabad

Book Title: Brick by Red Brick – Ravi Matthai and the making of IIM Ahmedabad

Author: T T Ram Mohan

Books on leadership are dime a dozen. While many of them preach the virtues of leadership, most of the remaining discuss the ‘how-to’. Rarely does one comes across a book which discusses threadbare institution building and the role of the leader in such detail. This book is one of those rare ones.

Entrepreneurship brings firms into existence. But it is Leadership that turns them into institutions. This book is one such brilliant exposition of institution building. It is a double whammy because the leader in this story (Ravi Matthai) was entrepreneurial too. As the first full time Director of the now famous Indian Institute of Management Ahmedabad (IIMA), he exemplified both organisational entrepreneurship and leadership.

This book is a must read for every leader. In a country like India where the education sector is looking for reform, we need more leaders like Ravi Matthai. We do not want imitators but people who can draw lessons from his illustrious life and adapt them to their respective contexts.

The book clearly displays the deep interest and research that the author has put in to produce such a non-hagiographic account. Without deifying, the author highlights why Ravi Matthai may have been an exception in the education sector in India. The author brings out a balanced view of his personality making the story both inspiring and insightful. Leaders (current and future) in the education sector must read it for the sake of the future of this country. Faculty have innumerable lessons to draw from the book.

Though this book had been suggested to me earlier, it was only this week that I actually picked it up. It was in response to my search for something light after all the heavy reading and writing I had engaged in. But what began as a slow start in the evening ended up consuming much of the night and early part of next day. I wanted to get to the end. I wanted to know it all. The writing kept my interest alive and left me wanting to know more about the protagonist. I learned how one can lead a complete life, a passionate one and be consumed by it, till the very end. I finished the book inspired and will definitely make it to the Vikram Sarabhai Library soon to read more – works about and by Ravi Matthai.

Leadership is a big challenge today across the world. Our institutions need entrepreneurial leaders, most chronically needed (probably) in educational institutions. The system is crying for renewal. Many more visionary leaders such as Ravi Matthai are needed to resurrect the prized Indian Education system. It is urgently needed considering the fact that we would be educating the maximum number of youth over the next few decades. Who will be their inspiration?

Read the book. Be inspired. Inspire.

India’s Demographic ____________ (what)?

Indians have a fascination for records. We seem to do anything to become record holders! Let me not say more. But last week there was news that we have created a record which is very difficult to beat – Only 1 in every 6250 can get to be a peon!

23 Lakh young (mostly) Indians applied for 368 ‘peon’ positions in a state government. Representative News Link: http://www.business-standard.com/arti... (So many newspapers and periodicals have news items on this). Please read.

RECORD: 6250 applicants for every peon position. This includes graduates, post graduates and PhD holders! Embarrassing?

Why is this happening in India? Why is everyone blaming everyone else? Whose job is it to create jobs? I’m surprised we still think the Government can create all the jobs! If we don’t allow our industries to grow, there are never going to be enough jobs ever. I will be surprised if the common man does not understand this.

We keep hearing “Demographic Dividend” – I hope this above record provides a clarion call to everyone in this Nation that if we do not do something about the youth, there is going to be chaos and social instability. We will become a sick society and this so called “Demographic Dividend” will turn into “Demographic Liability”. So if we have to do something about this, at least two things come to my mind:

A) Make it easier for entrepreneurship

We have been doing pretty badly in most world ranking with regards to doing business. Be it the ‘Doing Business’ reports or the ‘World Innovation’ rankings or any ranking. While Indians do very well as entrepreneurs and intrapreneurs outside the country, why are they not able to perform within the boundaries of our nation? Lets do something about it.

We need more entrepreneurs. We need more of our youth turning into job creators. Even if they provide employment for 10 people each I think they need to be celebrated, because there will be trickling down of wealth. Lets make it easier to be entrepreneurs in this country.

B) Make education more responsible

While many people are not even getting educated, the ones who do, are not learning much as they pass through the education system. Our Universities and Institutions are slowly becoming ‘degree-holder’ manufacturers. Our universities themselves need entrepreneurship. They need innovation. They need entrepreneurial academics. Lets become them if we can, else move aside and let the ones who can do it, do it.

The time has come to make education responsible. People need to be told that if they cannot display certain basic skills they will not get their degrees. They must be encouraged to experiment. They must be encouraged to become entrepreneurs. Teachers must inspire innovative ideas and initiatives and not kill them as they arise. This is not just the responsibility of the student alone, but the teacher, the administrators, the policy makers, the politicians and the entire ecosystem.

There is need for entrepreneurship in every sphere of Indian society. Be it the Government, the University, the Professions, etc. Lets breed entrepreneurship. As a teacher I encourage every student I meet to try their hands at entrepreneurship. I am happy some of my students have turned entrepreneurs and created jobs.

Think how you can encourage entrepreneurship in your role (parent, teacher, boss, policy maker, administrator, etc). Do whatever it takes!

Only ideas have changed the world. What is your idea? Make it see the light of day. Change the world.

A small wee bit!

It’s Monday, not Sunday! So what?

In recent times I have been infrequent in my posting on the blog. Its not that interesting things are not happening in life, but just that excuses seem to have taken greater control. Hence I decided that I will write from last Sunday (yesterday). But for some reason, I had enough excuses to not pick the computer and type those words. As I was reflecting over this, I told myself “Since you have decided to write every Sunday, let me start next Sunday.” But on closer objective viewing I soon realised that it has been the same excuse which has kept me from writing over the last few weeks / months.

So, I decided to fight over this excuse inside me. I told myself I will start today, even though it is Monday and not Sunday. I can always go back to Sunday from the coming weekend. At least I would have started and hopefully this will bring back the old discipline and routine to writing.

I see this in almost every individual I meet. Even the so called successful ones fight this problem almost every day. They win over their excuses and make things happen. And that seems to make the difference between those who do and the ones don’t. So, my urge to every entrepreneur and/or entrepreneurial individual I meet is – win over your excuses to doing. There will be a hundred forces which stop you along the way, but don’t be stopped. Just thrive. Just push that little bit. That is all it takes to be happy. The fact that you tried.

There is nothing greater than trying. The sports season is at its peak on the campus I stay – so in true sportsman spirit – lets play for playing is the only thing.

Lets not try to be perfect for there is no such thing in the world. Think about it. But more importantly start actioning your thoughts.

Lets start!

Dr APJ Abdul Kalam passes away

We just finished dinner and were walking towards our hostel rooms. One of our friends exclaimed saying “APJ No More?” – all of us in unison said, “If it is a message on whatsapp, please ignore.”

I came to my room and saw three more messages pop up on whatsapp. I immediately opened my laptop to check. I went through a number of articles to make sure what I was reading was true. Sad, but its true! The man who was here on our campus just a few weeks back and enthralled us with his energetic speech and inspired us to work hard, is no more. And what an end? True to his spirit of service, discipline, sacrifice and energy, he died with his boots on. He passed away as he was delivering a lecture at IIM Shillong.

His life and his living was truly his message for us. I think we must all learn from his example. To live life as a service to others till the very end. I think the biggest respect we can pay him will be to take responsibility to live our life purposefully. I share with you his message that he gave to us on 20th June 2015.

4 things to stay motivated and achieve in life:

Have a great aim (not small one)
Gain knowledge
Work really hard
Persevere till you reach

(from my notes that I had made during his talk) – I hope we can do all the above.

Peace and Prayers for his soul to rest in peace.

Thanks Dr Kalam for ensuring that we are perennially inspired.

The elusive ‘Focus’

As a perpetual student and researcher (now doctoral scholar) I always look for ways to learn about focus. As a teacher I talk a lot about focus to my students. As an advisor / consultant, I try to help my clients bring focus to their initiatives.

‘Focus’ seems to be a magical tool to maximise output. But most often it is elusive and misses our grip. The price we pay for losing focus is large, especially over a lifetime. This is one thing I hear from every successful scholar I interact with. It is the same secret shared by every entrepreneur I meet. Today I want to share with you an excellent episode that I observed over the past week which is an example of what ‘focus’ means.

Background: Becoming a doctoral student has enabled me do what I love most – be with books and read them voraciously. I spend all the time I can in the wonderful library of my institute. With thousands of books, magazines, journals, handbooks, encyclopaedias, research reports, online databases, information banks, audio-visuals, etc., the collection humbles me every time I enter this temple.

Episode: Recently, there was a young boy who had joined one of the courses offered by the institute. He over the past few days routinely visited the library every evening after classes. He spent about two hours every day at the same place. He used to come in with his laptop, settle near the section containing CDs/DVDs (movies, talks, etc) and systematically download information on to his laptop. It almost became a ritual. Without any distraction from people moving around, he continued with his task. It seemed in about a week, he had accomplished copying all the data available on CD/DVD form in the library. He simply disappeared after that.

Learning: Develop ‘focus’ by developing: Goal + Ritual + Repetition.

1. Goal: Set a clear goal. (He wanted to copy only CD/DVD movies onto his laptop)

2. Ritual: Set a time everyday to do the activity. (He sat every day after class at the same time)

3. Repetition: Persevering till goal is reached. (He kept coming till the act was completed)

While the episode might seem funny to some, it clearly has lessons for life in it. If one can set clear goals, all other aspects / distractions can be easily / naturally ignored. Once a time slot is allocated for an action (however mundane), it enables progress. Because of clear goal and time allocation, perseverance is possible (measuring your way to completion).

Though the episode is not important, just try to apply the same to your most important task. While copying movies from CD/DVD was probably that young boy’s goal then, what is your’s now?

If you are a researcher / scholar – are you clear about what you should read and complete by when? are you sure when (every day) you are going to do just that and nothing else?  are you persevering to get back to the act everyday?

If you are an entrepreneur – are you clear about what your current experiment is? Are you sure about what actions you should engage in everyday (sales/product development)? Are you repeating the action every day at an appointed time? Are you measuring yourself against some set goal and persevering to reach it?

Developing focus is not easy. If it was, every one of us would have been manifesting our talent’s maximum. But sadly, focus differentiates the successful over the crowd. Being entrepreneurs or entrepreneurial academics is almost the same thing – both require focus – focus on what one wants to achieve in the immediate term, medium term and long term. Set a specific time every day to engage in the act. Measure and persevere to get back to the act at the appointed time.

I do not know who this boy is. I probably will not recognise him the next time I see him. But I thank him from the bottom of my heart for he clearly taught me through his actions, what focus meant, how it can be achieved and what to do when it is done. Just disappear from here to the next!

FORMULA: Goal + Ritual + Repetition = Focus 

Think about it!

10 Rules for writing science

I am currently attending a course on ‘Academic Writing’. This is for scholars who want to write academic / scholarly articles. Such work usually gets published in journals. Journals are usually read by other scholars to know, collaborate, and take forward humanity’s knowledge on a subject. As I was reading through number of books and papers, I accidentally landed up on a journal editorial which shared 10 rules for writing science. I am listing the rules as they are so succinctly put. I am sharing the link to the original article for a more detailed account on each of these rules.

Rule 1: Keep It Short

Rule 2: Keep It Compact

Rule 3: Keep It Simple

Rule 4: Use the Present Tense

Rule 5: Avoid Adjectives and Adverbs

Rule 6: Focus

Rule 7: Signal Novelty and Importance

Rule 8: Be Bold

Rule 9: Show Confidence

Rule 10: Avoid Evocative Words

Article titled “Ten Simple (Empirical) Rules for Writing Science” by Cody J. Weinberger, James A. Evans, Stefano Allesina

Link: http://journals.plos.org/ploscompbiol/article?id=10.1371/journal.pcbi.1004205

Happy Reading and Writing (eventually)!

Knowing NITI Aayog for entrepreneurs

I am currently attending��a course titled ‘Doing business with government’. Does the title of the course not sound cool enough to attend, especially in India? I am enjoying the course. Yesterday’s��session was on NITI Aayog. The speaker was one who had recently retired from the planning commission. Hence expectations were high.

He started by bringing out��the differences between the planning commission and the NITI Aayog. Fundamental differences of why the change was brought about, is it just a name change, and so many other questions were clarified during the short interaction. I thought of sharing a little from that session in today’s blog. After attending the session, I agree with the speaker that we Indians need to know more about the government and its functioning. Once we expose ourselves to the information that is shared by the government, we will be able to see opportunities. We may (probably) also stop complaining that we do not have enough information in India to make any fact based decisions.

What does NITI stand for?

National Institution for Transforming India (NITI)

NITI Aayog is a national level think-tank that replaces the ‘Planning Commission’. Is it just ‘old wine in a new bottle’? Does not seem like. While the planning commission thought for India as a whole, the whole activity was centralised. This means the assessing of resources nationally was done centrally. This activity will be continued by the NITI Aayog as well. The Planning Commission also did the tough job of allocating resources to both central and state level programs. Now this created a large power centre in the planning commission. It had the power to allocate – but this seems to have been stripped off the new think-tank, the NITI Aayog. With this, the NITI Aayog becomes a purely advisory body, a think-tank. There is now greater decentralisation of the planning mechanism with larger representation of states.

We were given to understand that the primary change between the Planning Commission and the NITI Aayog is the reduction of power to allocate resources. Other differences include: While the Planning Commission was more ‘top-down’ in its approach to planning and allocation, the NITI Aayog has been structured to be more ‘bottom-up’ in its planning, without any allocation powers. The powers to allocate is said to rest now with the Finance Ministry.

One of the big take aways from this course (i’m still mid way through the course) is that any Government is a different type of complex organisation��with conflicting priorities which requires a tough balancing act. This��makes governance very difficult, especially in a country as large and diverse as India. But as citizens of the country it is our responsibility, not to just vote every 5 years, but make an effort to visit the website of the government, read the various documents placed for public viewing and share thoughts. While doing this we may come across number of schemes, plans, programs and projects that the Government has approved for socio-economic��development. We may also find opportunities to participate in the various development projects of the Government.

Doing Business with the Government is a wonderful course for entrepreneurs – I only hope that aspiring entrepreneurs realise this and make the maximum use of the interactions. For those who want to know more about the NITI Aayog, you may please read these links:

http://planningcommission.nic.in

http://en.wikipedia.org/wiki/NITI_Aayog

Though the NITI Aayog is yet to have its own website, I am sure it will come up soon. I hope that the intent of the institution is implemented��and India realises her true potential. Look forward to learning more about working with government and public sector institutions through this course.

If any of you have any questions and inputs on this topic, please do share! India is today the land of opportunities and the government promises to offer��a few of them. Let us see if we can participate and play our part as entrepreneurs.