An IIM alumina at work passed on the link for the review of this book even before it was officially released…and I though it was interesting…I went to Crossword to buy it 2 days after it was released and the book was out of stock!!
We decide to gift the book to a friend who was moving out of Mumbai…..so I finally got my hands on the book…..but then since it was a gift….I looked at it for 10 mins and then had to give it to the rightful owner….and the book flew to Delhi with him….
I told my office librarian to get it for the library and forgot about it….
Three weeks latter…I see the book in the newly acquired books section…..and I finally finally get to read it….
I am still in the beginning of the book….but I love what I have read so far!
Stay Hungry Stay Foolish is a compilation of stores of 25 IIM graduates who have become successful entrepreneurs…..
Rashmi who is herself an IIM A Graduate divides these entrepreneurs into three
1) The Believers – The people who took the plunge straight after MBA!
2) The Opportunists- Did not plan to be entrepreneurs but when opportunity knocked they seized it!
3) The Alternate Vision- Use entrepreneurship to create a social impact or for creative expression
Interesting classification eh! If I ever become an entrepreneur….I can only fall in one of the last two categories….It is too late for me to be a Believer!
I have read just one story out of the twenty five yet…but I actually had goose bumps while reading it….Rashmi writes well..you actually feel you are sitting across the table and are in conversation with the man…Some snippets….they book is much better than the snippets…so read it !
I hope to write more snippets as I read more of the book! Till then happy reading and commenting…
Snippets : Sanjeev Bikhchandani (PGP’89) : The Man Behind Naukri.com
· Entrepreneurship was not one of the options for Sanjeev…it was the only one
· Sanjeev at the age of 12 had more or less decided that he wanted to start a company of his own
· Sanjeev did not have business in his blood…his father was a doctor with the government job and mother was a housewife!
· He did not know what internet was and got introduced to the concept of “WWW” for the first time in 1993(wow!…was difficult to believe…)
· People warned Sajeev that ‘naukri’ sounds very down market….it sounds like nauker..but he went with his gut…and today it is one of his biggest assets!
· Entrepreneurship is about dozens of small leaps of faith taken everyday….
· The secret is that you and your company should be the ’go to ’person for that industry….10cm of editorial coverage is worth 100cc of paid advertisement
· Naukri.com common sense approach for their sales force ….A sales person costs the company 10,000 bucks….and a mobile phone…conveyance..office space …and use of computer…so if the salesman can recover 25,000 for the company he was productive…so all they did was hire more sales men..and opened more branches
· Currently the company had a diversified portfolio…jeevansathi.com, 99acres,allcheckdeals,naukrigulf,brijj.com,asknaukri,siksha.com
· Advice from the Wise
o If you are starting a business to make money…don’t..cause there WILL be hard times
o Get great people…sell them the vision..the idea and share the wealth…be generous with the stock.