Startups

The downward spiral

~ Rishi ~ Leave a comment

As usual, over the weekend I tried to catch up with newsletters and articles to make sense of the world over the past week or so. Over the past few weeks, I had been following the narrative of things going wrong in business, and as I read some of those articles, that gnawing feeling came back – something’s not right with how things are in the business world.

Over the past few months, there has been constant reporting and scrutiny of how big tech companies, which at one point of time were hailed as superlative, are now being called out for wrongdoings. It’s been the same with startups too. And with companies in other established industries.

Well, one of the reasons for this level of outrage could be the disconcerting factor of how the current situation has resulted in small companies and businesses folding up, traditional setups destroyed, while tech-led businesses and large corporations have flourished.

Another could be the fact that after years of hoping that the online economy would open up channels of equality and grounds of fair play, we have realised that it is after all still the same old place, with people having better access to resources winning over those with less. And hence the backlash.

Or it could be just the fact that people have finally woken up and realised that all is not right with the world that we live in and they need to call out and correct the wrongdoings.

Whatever it may be, what I have realised is that without a doubt, there has been a constant churning for the worse. Companies that began with a heart of pure gold (or so they claimed), have compromised on their values. Leaders who espoused equality and fairness, have squandered the opportunity to abide by what they said initially. And startups which came into being to solve a problem and be different than the others, have disintegrated into being a newer version of those ‘others’.

In my mind, it all boils down to one aspect – it’s the human(s) leading the charge who have led this downwards spiral. The founders, the leaders, the executives, people who were tasked with leading the new wave and rising above others, haven’t been able to fulfil the potential that was expected or promised.

Having built a business myself, I know it’s not easy to be in those shoes. When one is in the saddle, every small bump has to be negotiated. Hurdles at almost every step have to be crossed. More so, if you are a startup or a company out to prove yourself in a new market. And there’s constant pressure. From your known ones, people who have invested in you or the company, from the customers et al.

And while your intention is to navigate all of these in the most ideal way possible, there are times when you fall down. When you have to take a detour to avoid a wide ditch. In times like those, you have to decide. Decide to do the right thing for everyone, without knowing what’s the correct answer. Taking a leap of faith sometimes.

As long as your heart is in the correct place, things would turn out to be fine. It’s when you allow those moments to move you into a different zone, one which you aren’t comfortable with, that things go wrong.

When investors advise you to adopt a different strategy contrary to what you wanted to do, for the sake of the market. Or competitors demand you to be more aggressive, forcing you to adopt practices not consistent with your values. That’s when the fault-lines appear and if not taken control over, lead to a crack, large enough to cause a chasm.

The trouble is, in a lot of the successful cases recently, these chasms have led to superior growth, opened up new vistas for the business, and led to the belief that the decision taken in those trying times was right. And as nothing succeeds like success, the new thought becomes the de-facto.

And then the downward spiral begins. Feeling reassured by the success and by the belief that things are fine, the chasm grows. Practices and policies get diluted. Things begin to change for the worse. Chasing numbers or growth or glory, decisions are taken that move away the company significantly from where it wanted to be, at the start. And that’s why the current backlash.

It’s not that the world is replete with these examples. There have been quite a few cases where the leaders have refused to budge and succeeded despite odds stacked against the right way of doing things. But they are far and few in between.

Perhaps, it is time for us to think about our responsibility individually and as we grow up in life and work, to resolve to do the right thing whenever we are leading the charge. Even if it means that we will take time to succeed. Or that we have to call out and correct the wrong-doing.

Because, the downward spiral isn’t something worth living for in the long run!

Risky Propositions.

~ Rishi ~ 1 Comment

I just finished reading the book ‘Startup Nation’ – a good read, with insights on how Israel has come to be known by this name. The more I read the book and the authors description of how Israel has embraced innovation and risk-taking, the more parallels I drew from it to be applied to life in general.

Starting up is exciting. For the promise of what can be achieved and from the excitement for the ‘new’. However, beyond this excitement lies a lot of hard work and persistence. And the ability to take risks and fail without worrying about what will people think!

‘New’ is a risky proposition. But our life moves forward only when we take some sort of a risk. Be it the first steps we take as a toddler without the knowledge that we may fall, or when we learn new things by doing stupid experiments at home, or the time we leave our homes to achieve something bigger in the outside world, or when we get into a new relationship. If not for such endeavours without a worry in the world, our life would be monotonous and uninteresting.

In fact, the more I read the book and re-applied that to our life, I realised that ‘do the new’ should be an important mantra for all of us to measure how much we are moving forward.

Because if we don’t, someone else will. There are enough intelligent people, willing to try out new things. And they will move the entire ground to a different coordinate. The same ground, where we were standing proudly just some time ago. And then re-starting will be even more difficult.

And this is true for each and every aspect of life. Be it personal aspects where for example, if we don’t try and build new relationships, we will be left alone and people will move on. Or in professional aspects, where carrying on with the notions and practices that succeeded for us earlier may not result in the same outcomes now.

Yet, we push back. We resist the new. We hate change. We look at excuses to not adapt. And by doing so, we pull ourselves back. We discard the risky proposition in favour of the one which is known/comfortable. What we forget is that comfort breeds complacency also. And that leads to obfuscation.

But how do we do something new regularly and continue to move forward? Rather than being focused on risks, how do we focus on making things happen and looking to succeed? In whatever we want to do.

I think the answers lie in practicing with small baby steps. Doing small things which aren’t as risky to do, as per our psyche. And as we go along, building our confidence to try out even more new things and progressing from there. And as we go along, we would have dug a new tunnel, where none existed.

And that would be our personal startup, focused on whatever we want it to be…

The people angle in business

~ Rishi ~ Leave a comment

Business is in fashion across drawing rooms these days!

Reading news of companies and platforms raising millions and billions of dollars has sure got the average Indian interested. There are regular discussion happening over these topics across age groups and everyone wants to know how do these hotshots get built…

Over the past few months, I am in the process of building up my new business. During this time, I have often thought about what makes a business venture successful and how do entrepreneurs succeed. And specially how to build once such company!

I must confess when I started out, I thought it was all about hard work and some luck. But as my journey has progressed, I have realized it’s all about how to manage people…

People management is the mantra to run a business successfully. If I can manage people and build a great team that shares my passion and belief, the business will scale and do well. The execution of the idea shall be as planned and success will be a formality.

Even in jobs, if someone is a good people manager, he or she will automatically do well and excel in the chosen field. Most successful managers I have read about seem to have this trait in common…

In fact, I was reading an article about how Richard Branson, one of the greatest entrepreneur of our time, has scaled up his empire. He mentioned one very simple thing – “I hire good people, leave them to run the business and trust them to do their best. It frees up my mind and gives me time to think about the future.”

A great example of great people management leading to greatness for the founder and group companies!

However, most people neglect this aspect when they are figuring out things in their professional life. They treat others with contempt or neglect the human angle and in turn this gets ingrained in their behavior, leading to future fallibility.

If we also become as steadfast about the all important human aspect as Richard Branson, more companies and empires as vast and efficient as Virgin can be built!