Behind the Metrics: The Human Story of Entrepreneurship

This Book Review was first published by Forbes India on March 9, 2026; https://www.forbesindia.com/article/life/behind-the-metrics-the-human-story-of-entrepreneurship/2992056/1

Book Review: Unseen: The Untold Story of Deepinder Goyal and the Making of Zomato by Megha Vishwanath

Penguin Business, 332 Pages

In Unseen, Megha Vishwanath tells more than the story of a startup. She traces the making of Zomato alongside the making of its founder, Deepinder Goyal, placing both within the turbulence of India’s startup ecosystem. The book follows Zomato’s journey from an idea to a platform that reshaped urban consumption. Vishwanath attempts to move beyond hero worship (though not always successfully), and instead circles a harder question: what actually sustains a company once charisma alone is not enough?

Restlessness beneath recognition

Early in the book, Vishwanath asks, “…what happens when you finally become visible to the world… and still feel unseen by yourself.” She closes with, “Strangers recognised his face everywhere. But here, where it mattered most… he had disappeared.”

Read together, these lines capture the emotional truth of entrepreneurship: a restlessness that achievement cannot settle, and recognition that does not quiet the inner noise. Even after building at scale, much remains beyond one’s grasp. Vishwanath treats this not as contradiction but as condition, the human cost of ambition. Success does not resolve uncertainty. It merely changes its shape.

This is one of the book’s quieter strengths. It allows us to see the founder not only as builder, but as someone perpetually in motion, driven less by arrival than by unfinishedness.

Talent density, not founder mythology

One of the book’s most compelling insights is that Zomato’s edge was never just its founder’s drive. It was the depth of talent Goyal cultivated. Over time, he built what can only be described as a bench of founder-quality leaders, people capable of matching his momentum rather than merely executing instructions.

The organisation that emerges is not tightly hierarchical. It is loosely networked, powered by ownership and speed. Vishwanath captures this internal architecture well, showing how momentum becomes distributed rather than concentrated.

Yet here the book leaves an unresolved tension. While Vishwanath emphasises distributed leadership, the narrative remains deeply anchored in Goyal’s judgement and instinct. One comes away reassured about talent, but less certain about institutional durability. If the founder’s presence were to recede fully, would the culture hold? 

This feels especially relevant today. As of February 1, 2026, Goyal has stepped down from the executive role of CEO to focus on new ideas. At 43, he remains central to the company’s identity, still perceived as the connective tissue holding things together. Yet the book leaves behind a productive anxiety: who sustains such a fluid organism when its most catalytic presence recedes? Would Eternal endure if, hypothetically, Goyal ever decided to disappear to the mountains?

Capital with conscience

Vishwanath is clear-eyed about the startup ecosystem itself. Funding cycles, boardroom pressures and valuation swings are described without melodrama. In Zomato’s case, Sanjeev Bikhchandani, founder of Naukri.com and an early investor, emerges as a stabilising force.

More than capital, he brought governance, perspective and restraint. His role illustrates something important: when ambition is paired with experienced counsel, growth becomes more grounded. 

Communication as leadership

A particularly valuable thread in the book is the treatment of communication as leadership. Goyal’s letters to employees are a master class in clarity and transparency, especially the one outlining the qualities that define a founder’s mindset. Ownership. Speed. Intellectual honesty. Long-term thinking.

There is no ornamental language, no managerial fog. Just shared vocabulary and shared standards. In an ecosystem where ambiguity often masquerades as strategy, these letters show how culture is built deliberately, through words that people can internalise. Institutional depth, Vishwanath reminds us, does not come only from hiring talent. It comes from facilitating that talent to continuously push boundaries.

Risk, relationships, and orchestration

The book also captures the cultural risk embedded in entrepreneurship. For those shaped by predictable career paths, leaving a firm like Bain for uncertainty feels irrational. Vishwanath does not romanticise this leap. She shows the isolation, the strain on family and friendships, and the faith required to persist when outcomes are unclear. She also honours the invisible ecosystem around founders: parents who tolerate risk, friends who absorb volatility, early employees who commit before proof.

Zomato is often criticised for not having “invented” anything. Vishwanath offers a quieter rebuttal. Innovation is not always technological novelty. Zomato reorganised information, reduced friction, and saved time. Today, when bandwidth is limited and traffic relentless, that matters. Convenience, here, is structural.

The unseen work behind endurance

Most founder biographies, whether Ronnie Screwvala’s Dream with Your Eyes Open or global accounts like The Everything Store- Amazon or Shoe Dog- Nike, often reflect on companies that have already stabilised into institutions. They emphasise systems, scale, eventual clarity, and the founder who has himself become an institution or a steward.

Unseen operates in a more unsettled space. Zomato, at 17, is neither fledgling nor fully mature. It behaves with the urgency of a startup despite its scale. Unlike many managerial accounts of company building, Vishwanath goes inward. She examines the founder’s psychology, the proximity to failure, the strain on relationships, and the role of family and friends as silent partners in risk. 

She looks into the mind of a founder, who remains in the restless start-up founder phase. That interior focus distinguishes the book. 

Conclusion

At times Unseen reads like a fast-paced corporate thriller. But its deeper contribution lies in what it says about leadership and institution-building. It shows how governance and chaos coexist, how capital needs conscience, and how communication becomes culture.

And then it leaves you with a harder truth. The real test of ambition is not how brightly it burns in one individual. It is whether it can be distributed, absorbed, and carried forward by many. That is the unseen work behind every enduring enterprise. And that, ultimately, is what this book is really about.

How next-gen scions can steward family businesses amid global uncertainties

This article was first published in Forbes India magazine, May 29, 2025. Co-author: Kavil Ramachandran; https://www.forbesindia.com/article/leadership/how-nextgen-scions-can-steward-family-businesses-amid-global-uncertainties/96070/1

Family enterprises—which underpin economies worldwide by contributing over 70 per cent of global GDP and employing nearly 60 per cent of the workforce—now find themselves at the epicentre of a transformation unlike any before. The convergence of rapid technological advances, mounting climate imperatives, shifting consumer values and geopolitical realignments have all created what strategists term a BANI environment—Brittle, Anxious, Non-linear and Incomprehensible. For family firms long defined by multi-decade horizons and incremental evolution, the imperative falls on the incoming cohort of heirs to merge institutional memory with digital fluency, entrepreneurial daring and a restless drive to convert disruption into renewal.

The Shrinking Horizon

At the heart of the disruption challenge lies the brutal acceleration of product and corporate lifecycles. A report by Innosight showed that in 1965, the average tenure of a company in the S&P 500 exceeded thirty years; by 2016 it had fallen to twenty-four and is forecast to contract further to twelve years by 2027. For successor generations accustomed to inheriting legacies built over lifetimes, this shrinkage demands a marathon-sprinter’s mindset: heirs must deploy rapid experimentation, continuous skill-building and lean decision loops to stay ahead of digital-native rivals, even as they preserve the family’s enduring values.

Bruce Lee used to say, “Empty your mind, be formless, shapeless, like water,”—advocating a state of perpetual readiness, adaptability and strength. And he was not talking only about martial art! 

Future-Focused Strategy in Action

Consider two of India’s most venerable family business groups. The Tata Group, founded over 150 years ago, has become as much a technology and services conglomerate as it is a steel manufacturer. Its digital arm, Tata Consultancy Services, invests billions in cloud computing and artificial intelligence to offset the gradual commoditisation of legacy offerings. Mahindra & Mahindra, similarly, has pivoted from tractors and utility vehicles to become a global player in electric mobility, forging partnerships with tech firms in Silicon Valley to accelerate R&D. Heirs at Tata and Mahindra did precisely what the moment demanded. Those were essential moves to catch up with rapid technology shifts and establish footholds in adjacent markets.

Today’s successors confront an entirely new mandate: they must trust their own capabilities and provide steward leadership to drive transformation within their families. By leading from behind, they shape outcomes across multiple fronts. Family governance, business strategy, entrepreneurship and wealth management are among the areas that demand fresh perspectives.

 

Each circle in the chart ‘Nextgen Leadership’ represents a core dimension of successor stewardship:

• Strategist - As a custodian of the future growth of the business, a successor has to envision the emerging environment and chart the family firm’s horizon by scanning technological trends and market shifts to align capital allocation with emerging value pools.

• Professional Manager - They must facilitate practice of professionalism as a value by benchmarking and introducing best practices such as clear KPIs and process rigour alongside family executives, and elevate operational performance.

• Serve Society- Business families have all along been connected closely with the society they live. Nextgen must help shape philanthropy, ESG and community partnerships to reinforce the family’s and enterprise’s social  relevance and long-term reputation.

• Value / Heritage Custodian - As family stewards, younger generation must lead by translating founding values and principles into actionable norms, ensuring that legacy values guide strategic and cultural choices.

• Groom Nextgen - They should not wait for the seniors to groom them; rather the initiative must come from them since they are the change makers.

• Family Governance Custodian - Nextgen must take upon themselves the responsibility to enforce transparent governance in the family. They will thus be living by example the principles and policies of high quality family governance. 

• Wealth Creator / Protector- Younger generation understands the significance of structured wealth management more than the seniors. They must help balance bold investment in growth areas with prudent risk buffers and diversification strategies to preserve intergenerational capital.

In sum, whereas the previous cohort sprinted to catch the wave of disruption, today’s successors must surf the entire storm.

Governing with Agility

Amid relentless disruption and ever-accelerating change, robust governance becomes the linchpin of resilience. Effective governance now demands far more than static rules—it requires a learning culture that reconceives the family’s role in business. Central to this is comprehensive family education: each member must grasp how the family’s identity and purpose interact with a swiftly shifting environment. Traditional models built on extended-family norms no longer suffice; in nuclear or geographically dispersed families, notions of fairness and togetherness must be re-negotiated. Accordingly, family policies, processes and practices should be revisited collaboratively, with formal forums to debate and codify new charters that foster harmony and mutual accountability.

Equally important is the recalibration of governance vehicles. The Family Business Board remains the enterprise’s guardian of strategy and risk, while the Family Council safeguards cohesion by enforcing the charter and resolving disputes. The Owners Council, however, assumes an expanded remit: it must incubate entrepreneurial initiatives through transparent venture-financing guidelines, clear ownership stakes and performance-linked rewards—effectively treating new ventures as corporate-venturing projects. In all bodies, respected independent directors are essential to uphold rigour, test values of trust and transparency, and temper the inevitable interplay of logic and emotion. In practice, many group structures will evolve into holding-company frameworks, with each subsidiary managed as a strategic business unit under its own performance matrix. This architecture recognises that heirs often seek both individual agency and collective purpose—and it ensures that “I-Me-Mine” ambitions remain anchored within a unified family vision.

Generational Duality

Interwoven with strategy and governance is the delicate balance between senior-generation stewardship and next-generation dynamism. The former brings deep institutional memory, extensive networks and a long-term orientation that has underpinned stability for decades. The latter embodies fluency in digital ecosystems, comfort with ambiguity and a restless pursuit of new value pools. When harnessed constructively, this generational duality can become a formidable competitive advantage. The story of Lavanya Nalli, who transformed and expanded her family’s ninety-year-old silk business into a thriving e-commerce platform within five years, exemplifies how next-generation initiative can amplify a legacy brand’s reach and relevance.

However, generational tensions can turn unpleasant and acrimonious if roles and expectations are not clearly defined, underlining again the need for next-generation heirs to act as steward leaders. They cannot afford a narrow, self-righteous stance in such a dynamic world. They must recognise that their future is at stake and that it is their responsibility to ensure continuity and change simultaneously. Leadership and ownership succession remain among the trickiest challenges in the life of any family business. Cyient, a multi-technology company, has successfully undergone major changes in its business portfolio during and after the transition of leadership from Mohan Reddy to his son Krishna. Cyient has been adapting proactively to disruption.

Impact and Purpose

If governance forms the backbone of resilience, then a compelling social and environmental purpose defines the family firm’s licence to operate. As regulatory regimes tighten carbon-emissions norms and stakeholders demand rigorous ESG performance, heirs can no longer defer sustainability to a later date. Too often, family enterprises underinvest in low-carbon strategies even as climate-related liabilities mount. 

Successors must therefore educate the wider family on the business case for embedded sustainability—aligning priorities, capital allocation and executive incentives with long-term ecological stewardship. Moreover, a unifying purpose binds the family together; without it, cohesion frays and the risk of fragmentation rises.

Heightened scrutiny of corporate conduct and social impact are reshaping brand narratives. Younger consumers prize purpose-driven enterprises, and family firms enjoy an inherent credibility if they can demonstrate consistent community support and ethical probity. Next-generation leaders must therefore embed social and environmental impact at the strategic core—transforming purpose from a peripheral concern into a driver of resilience, reputation and sustained growth.

The FAMILY Framework for Resilience

Underpinning all these practices is a holistic FAMILY framework, integrating six mutually reinforcing pillars (see chart ‘Family Framework’). This framework operates not as a static checklist but as a living operating system—one that demands rigorous discipline, continual upskilling in new domains and regular recalibration. At its heart lies the proactive agency of the next-generation, ensuring a genuinely future-focussed orientation (see chart ‘Dynamic Family Framework’). 

Dynamic Family Framework

 Disclaimer: Generated using AI

In conclusion, the nextgen in family enterprises has the responsibility to take on the role of the nerve centre of renewal. Externally, they need to reconceive their business models through the lenses of digitalisation, sustainability and global agility. Internally, they must drive an agile governance and talent ecosystem that unites generational wisdom with new-economy dynamism. The FAMILY framework—with its emphasis on future orientation, governance agility, meritocratic culture, purpose fidelity, financial prudence and generational inclusivity—offers a practical roadmap.

Stewardship in today’s turbulent seas means more than preserving tradition: it requires embracing change as a source of renewal. As Bruce Lee taught, true mastery demands speed, fitness and an unencumbered mind ready to flow like water. Only by dancing on a globe in rough seas—ever ready to pivot, learn and hold fast to enduring values—can family businesses convert the pressures of disruption into engines of sustained growth. In this new era, those who master the art of agile resilience will not merely survive; they will redefine what it means to endure.

Legacy in Action: Continuity, Storytelling, and Archiving at the TATAs

This Book Review was first published in the Economic Times, December 13, 2024; https://economictimes.indiatimes.com/news/company/corporate-trends/legacy-in-action-continuity-storytelling-and-archiving-at-the-tatas/articleshow/116273631.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

In Jamsetji Tata: Powerful Learnings for Corporate Success, R. Gopalakrishnan and Harish Bhat provide an intimate view into the Tata Group’s legacy, revealing the values and vision that have helped this family enterprise endure across generations. This book benefits from the insider perspective of authors who have “lived” within the Tata ethos. Throughout the book, three core principles stood out to me for their relevance to family businesses everywhere: continuity, storytelling, and archiving. Through these pillars, the Tata Group has not only survived but has actively contributed to India’s growth story for over a century.

Continuity as the Backbone of Purpose

In family businesses, continuity is the anchor that keeps purpose alive. The Tata Group is a compelling case in point, where continuity is not a passive inheritance but a deliberate practice. Jamsetji Tata envisioned an institute of higher education in India and his son, Dorabji Tata, carried this vision forward by establishing the Indian Institute of Science, a foundation for India’s scientific advancement. Later leaders, like Naoroji Saklatwala and Ratan Tata, stayed true to Jamsetji’s goals by expanding the group’s initiatives in healthcare, education, and rural outreach, including regions like the underserved Northeast.

What emerges through Jamsetji Tata is an argument for continuity as more than tradition; it is an evolving legacy that serves as both compass and anchor. Without continuity, iconic Tata projects like the Cancer Research Institute or the Northeast Initiative could have easily become fleeting ventures. Instead, they are legacies, continually renewed by successive leaders. The Tata story suggests that if family businesses seek to last, their purpose must be deliberately preserved and adapted across generations.

The Role of Storytelling in Building Legacy

Gopalakrishnan and Bhat show that in Tata’s journey, storytelling has played a central role in transmitting values and keeping the organization’s mission alive. In business, it’s easy to lose sight of purpose, but stories—especially those that explain the “why” behind values—make those principles memorable and accessible. Storytelling within Tata has preserved a cohesive narrative, reinforcing the organization’s commitment to community, integrity, and resilience in the face of adversity.

Consider the story of Mithapur, a drought-stricken settlement in Gujarat that Tata helped turn into a thriving township. In today’s era, where discussions often revolve around work-life balance, the dedication that went into transforming Mithapur may seem almost unimaginable. Tata’s story in Mithapur illustrates what’s possible when companies invest beyond profit, in places that need development. They offer insights into the ethos of purpose-driven enterprises and inspire budding entrepreneurs to envision business as a force for societal good.

As the spouse of an entrepreneur, the story of Dorabji Tata and his wife Meher Bai, who pledged their entire wealth to save Tata Steel, resonates deeply with me. I know how tough these decisions are. Tata’s stories don’t merely showcase business achievements—they reveal the spirit of sacrifice and conviction that make up the core of the organization’s legacy. And, storytelling isn’t just a tool for marketing but a way to instill values that resonate across generations and communities.

Archiving as a Pillar of Organizational Memory

Perhaps the most understated yet powerful aspect in Jamsetji Tata is the emphasis on archiving as a tool for continuity. By meticulously preserving letters, speeches, and records, Tata has built a repository that keeps its past connected to its future. This archive doesn’t just record facts; it captures lessons, insights, and the reasoning behind key decisions, providing a resource for current and future leaders alike, cultivating a living memory.

For other family businesses, the Tata archive is an inspiring model, underscoring how documenting history and values can build a lasting legacy. Preserving history this way is more than nostalgia; it’s a strategic resource that reinforces Tata’s purpose, ensuring that its ethos remains as powerful today as it was a century ago.

A Blueprint for Family Businesses Seeking Enduring Success

Taken together, continuity, storytelling, and archiving create a framework for sustaining purpose over generations. Gopalakrishnan and Bhat’s account is both a tribute to Tata’s rich history and a guide for family businesses grappling with the challenge of building a legacy that lasts. This book invites business families to consider how they might nurture a shared purpose, disseminate stories that resonate across generations, and preserve the lessons of the past for future growth.

Through their insider perspective, Gopalakrishnan and Bhat reveal that in a world often consumed by the pursuit of growth and innovation, Jamsetji Tata is a timely reminder that true legacy is not merely built, but carefully tended—through continuity in purpose and values, storytelling, and preservation. The authors offer an enduring truth: success may be measured in quarters, but legacy is crafted across centuries.

Two is Company

This Book Review was first published in the Business Standard on March 25, 2024; https://www.business-standard.com/book/two-is-company-124032500642_1.html

Book: An Uncommon Love: The Early Life of Sudha and Narayana Murthy

Author: Chitra Banerjee Divakaruni

Price: 799/-

Pages: 352

Year: 2023

Publisher: Juggernaut Books, India

Chitra Banerjee Divakaruni's latest, a non-fiction, "An Uncommon Love: The Early Life of Sudha and Narayana Murthy," unveils the captivating narrative of two eminent figures, Sudha Murty and Narayana Murthy. It offers an exploration of their formative years. Divakaruni's adept narrative style, characterized by poetic simplicity and robust character portrayals, particularly resonates with aficionados of profound storytelling.

Departing from the world of mythological heroines, the book unfolds the ordinary yet remarkable lives of the Murthys before the establishment of Infosys, portraying their journey as an allegorical epic awaiting narration. Vividly depicted are the everyday trials and triumphs of a working couple, encapsulating the essence of support, sacrifice, and solidarity, compelling readers to root for their success.

Their story reminded me of the scenes from Basu Chatterjee’s 1976 classic Choti si Baat, starring Amol Palekar and Vidya Sinha. A simple boy. In love with a simple cotton saree-clad girl. Enjoying small things such as holding hands, walking on the roads, and eating at Poona Coffee House. “With her [Sudha] by his [Narayana] side, he felt he could take on even the toughest challenges” (p85).

You want them to succeed. You cheer for them. You feel for them. Sudha and Narayana Murthy's early life experiences together are relatable and Divakaruni captures them in the most endearing manner.

The narrative poignantly addresses the dilemma faced by individuals who find themselves overshadowed or relegated to supporting roles, despite possessing substantial capabilities and accomplishments—a sentiment to which Sudha Murty's journey lends credence. It would have been easy to portray Sudha Murty as the victim, as someone who had to give up her career to support Narayana Murthy’s passion, and it would have been largely true. However, it would do grave injustice to Sudha’s resilience and commitment to personal growth, exemplified through her writings, contributions to the Infosys Foundation, and her subsequent foray into public service [the recent nomination to the Rajya Sabha]. Divakaruni maintains a fine balance that never lets Sudha’s character slide into being inconsequential.  Rather she serves as a beacon of inspiration.

Another aspect that touched a chord with me was the challenge of imparting values amidst prosperity, as Sudha navigates the complexities of instilling humility and “living withing one’s means and not trying to keep up with the ‘neighbours’…the importance of being practical in matters of spending, recognizing wasteful behaviour, and getting good value for your money” (p309-310) in her children. This segment will resonate deeply with individuals who have experienced economic scarcity and now grapple with the task of nurturing similar sensibilities in their offspring.

On the professional development side of the couple, of notable significance is the portrayal of Narayana Murthy's evolution from a socialist idealist to a compassionate capitalist, alongside the inception of Infosys, underscoring the fervour, altruism, and perseverance that culminated in its establishment.

Unlike conventional biographies of business luminaries, which frequently overlook the intricacies of personal challenges and emotions, Divakaruni's portrayal transcends superficiality, reveals the interplay of relationships among its seven founders and elucidates the philosophical underpinnings of the compassionate capitalism intrinsic to Infosys's corporate ethos. Furthermore, the narrative sheds light on Sudha Murty's sacrifices and her steadfast support of Narayana Murthy's endeavours, emblematic of the pivotal role spouses play in each other's professional pursuits.

The exemplary financial stewardship demonstrated by the Murthys underscores a vital lesson for startup founders and business owners: the importance of judiciously managing company and investor funds. In an environment rife with instances of poor companies- rich promoters, the Murthys' narrative serves as a beacon of integrity and foresight, illustrating the enduring value of principled financial management for long-term sustainability. By assimilating these invaluable insights, aspiring entrepreneurs can play a pivotal role in cultivating a culture of accountability and integrity within India's corporate landscape, thus fostering a legacy of responsible entrepreneurship and sustainable growth.

I am reminded of an incident when I accompanied my brother to the optician, a family friend, shortly after his graduation from an IIT. Upon learning of my brother's employment at a multinational corporation, the optician remarked, "We heard so much about you. That you are so good in studies and all. And you still didn't get a job in Infosys?" This anecdote encapsulates the profound impact of the Murthys' creation, Infosys, on the national consciousness. It was a pleasure to delve into the lives of this extraordinary couple, whose visionary leadership catalyzed the information technology wave in the country, capturing the imagination of a nation and leaving an indelible mark on the annals of Indian business history.

In sum, "An Uncommon Love" is a testament to Divakaruni's narrative prowess and her ability to unravel the complexities of human experience. Through meticulous storytelling and emotional depth, the book illuminates the transformative journey of two icons, offering readers a compelling narrative of love, sacrifice, and resilience amidst the backdrop of nascent entrepreneurship in India. 

Of Sultan, Succession, and Family Businesses

It is no secret that I am a Bollywood aficionado. Until a few years ago, I claimed that I watched 95% of all released Hindi movies. That statement no longer holds as I have gotten busier, and the number of movies released yearly has also increased. Like many other things, I cannot keep up and often prioritise. Though, I make it a point not to miss any top releases. I even watched Lal Singh Chaddha on the big screen (please imagine the cringing emoji)!

"Kisi ka bhai kisi ki jaan" was released on Eid this year, as most of Salman Bhai's movies do. I had a serious conversation with myself. After much deliberation, I decided to give it a miss. I guess the decision itself was a no-brainer. The question troubling me was, "Will I still qualify as a Bollywood junkie if I gave it a miss?" Guess some questions are best left unanswered.

For old-time's sake and all the Salman Khan movies I have enjoyed, I decided to revisit Sultan. I must say that I thoroughly enjoyed watching it. I keep re-watching a few movies, especially when I am short of time and know precisely what I want to watch. Somehow, while Chak De and Dangal are top of the list of movies I have watched the maximum number of times, Sultan never made it to that list. I shall correct this miss now.

So, I started watching Sultan. The movie starts with a boardroom scene. Aakash Oberoi (Amit Sadh), son of billionaire industrialist Gyan Singh Oberoi (Parikshit Sahni), was struggling to convince investors to support him for another six months. Aakash was convinced about the potential of Pro-Takedown Wrestling. However, Cricket seemed to be the only sport that pulled the public in India. He had only six months to prove himself. Here, a scene caught my attention, which I missed in 2016, when I watched it in the theatre, as I missed the movie's first 10-15 minutes. Also, my family business antenna is much more sensitive now.

Back to Sultan. It is a conversation between the father and the son in the Pro-Takedown arena.

Aakash tells his father, "Dad, you were right. This sport has no future."

[Lesson 1: The older generation has the experience and should not be written off, even if they do not have fancy degrees.]

Gyan replies, "There is a future. You just cannot see it."

[Lesson 2: Once the next-gen admits their older generation was right, they are again proven wrong. At this point, the older generation comes all out to support the venture by the next-gen.]

In a contemplative mood, Aakash replies, "You know, this sport is a hit worldwide. Westerners are crazy for it."

Gyan counters, "We are not Westerners. This is the problem with your generation. Everything important seems 'cool' to you."

[Lesson 3: Understand the local market.]

A confused Aakash asks, "What are you trying to say, Dad?"

Gyan explains, "I am trying to say that this sport does have a future in India. But not in the hands of Westerners. India is a country with different values. It is a country where own people, relationships, and patriotism are valued. When an Indian really beats a white man in this stadium, that is when all your seats will fill up."

[Lesson 4: Appeal to the emotions of people.]

Of course, the rest of the movie is about how Sultan (Salman Khan) goes on to win the Pro-Takedown Wrestling championship. And how Gyan is proud of his son, Aakash.

The scene that I have narrated above seemed so natural. I could visualise family business leaders having such conversations with their scions. It is common for them to oppose an idea if they do not understand it. However, it is also common for parents in India to go all out to support their children once children have jumped into something. The investors come on board because of the family's reputation and connections. The next generation faces steep media scrutiny as they are constantly compared to their successful parents. The previous generation's experience is readily available and invaluable (Gyan suggested to Aakash that he should get Sultan to compete).

Furthermore, a peer group that can extend support when needed (like getting sponsorship for Sultan from Kukreja, a friend). In short, a rich resources basket. The movie also depicts how the next generation is conscious about losing money, living up to expectations, and making their own mark. It is not easy for them.

The reason the scene between Gyan and Aakash struck a chord and stayed with me long enough for me to write this piece is that I have been watching season 4 of the popular HBO series Succession. Even though the first three seasons were nowhere close to how Indian business families are, in my humble opinion. Watch out for another article on the series "Succession" and Indian business families. Coming soon!

As Gyan said, "We are not Westerners." It is time our producers, directors, and scriptwriters came up with an indigenous "Succession" series. I hope someone is listening. Bollywood!

Efficiency is the name of the game

This book review was first published in the Financial Express on June 27, 2022, https://www.financialexpress.com/lifestyle/book-review-the-ambuja-story-how-a-group-of-ordinary-men-created-an-extraordinary-company-by-narotam-sekhsaria/2573658/

Book: The Ambuja Story: How a Group of Ordinary Men Created an Extraordinary Company

Author: Narotam Sekhsaria

Price: 699/-

Pages: 368

Year: 2022

Publisher: Harper Business, India

Once upon a time, there was a boy, named Narotam. He was born in a Marwari family in Chirawa, Rajasthan. His family took him to Bombay (now Mumbai) when he was three. There, he was adopted by his grandfather’s younger brother who did not have a son of his own. This practice was a way to ensure the continuity of lineage in a patrilineal society. Destiny had plans for him. This is his story and the story of the company that he built.

Ordinary is relative

Narotam and his family were ordinary. Ordinary compared to the Bajaj’s who were their neighbors. But living in the same building as the Bajajs, who owned and managed one of the biggest business houses in the country then and now, cannot be ordinary for sure. Similarly, Narotam had an ordinary upbringing. A boy next door. He struggled at school yet finished at the top of the class. Was aimless and non-ambitious yet went on to study at some of the top colleges in Bombay.

Joining the civil services or getting a job in a bank or a multinational company was the dream career for those joining the workforce in the India of 1960s and 1970s. Not so for a lad growing up in a Marwari household. Working for someone else was unthinkable. So, he joined his family’s typical cotton trading business. He proved his mettle in various ways. Whether it was getting orders from Finlay, having the foresight to buy extra for his customer when prices started to rise and the customer was holidaying, being fair even when he could have made much more money, and making, maintaining, and tapping into social networks, were at display in the way he functioned.

Nothing that he did was extraordinary. Just ordinary things done well to achieve extraordinary results.

Bigger shores beckoned

Narotam’s “dil” wanted more. Forty years back, entrepreneurship was not a buzz word. Nor was ease of doing business. The Ambuja Story is not the usual start-up story that we are used to reading in the twenty first century.

Narotam grew up in a family of traders. The DNA needed to manufacture is very different from that for trading. After spending a decade being a trader himself, to set up a manufacturing unit for a commodity product about which he knew nothing, could not have been easy. And it was not.

The book brings out the vulnerabilities and the many uncertainties faced by the founder. It also shows how he adapted at each step of the way. He recruited the best, treated them with respect, and retained them. Did not compromise on quality of the plant, even though he placed his trust in newcomers, rather than well established players. Financial management, credit policy, and high ethical standards were all consciously made a part of setting up Ambuja. While there are many learnings from the story, the three that I would like to highlight here are efficiency, innovation, and brand building.

Efficiency: Cement is a commodity. There is little scope to differentiate the product itself. But there is ample scope to differentiate on efficiency. Efficiency in processes, tweaking the plants to enhance productivity, dust management systems, and each person doing their job well, are just a few examples. The company has efficiency written all over it.

Innovation: Innovation does not mean usage of artificial intelligence and machine learning to solve problems with digital solutions only. Innovating, doing things differently, to achieve better or cost-efficient solutions such as transporting cement through sea when no one else was doing it in India, and making small changes to the plants to achieve big impact, played a big role in making Ambuja profitable from the very beginning.

Branding: In a product where it was difficult to charge a premium, the investment in brand building from the very beginning, like it was a consumer product, helped Ambuja establish itself even in the presence of existing giants. Ambuja kept building and improvising on its branding as they grew. The results were all too visible.

Values and responsibility

Being born in a Marwari family, I have often heard about and witnessed philanthropy without anyone knowing about it. Left hand should not know if the right hand is giving. Such beliefs leave an indelible mark on everyone around. It was no different for Narotam. He writes of how the values and spirituality kept him “calm and centred even in the most turbulent of times. The values of ethics and compassion that he [his father] taught me steered me in everything that I did in my career” (Pg. 134). The Ambuja Cement Foundation has been way ahead of its times in adopting impactful corporate social responsibility projects and transforming the lives of communities around which they operate and going beyond those communities.

Resilience

An entrepreneur starts when he spots an opportunity. But the time at which he/she should exit is also important. Exit does not only mean selling the business. It could also mean redefining the role of the founder to ensure continuity beyond him/her. The confidence that the company would survive beyond the founder is what makes them long-lasting. Even without planning for it, Narotam had built a company that did not need him on a day-to-day basis when he had cancer.

Conclusion

There are many books on industrialists and entrepreneurs. Not many of them go into so much detailing regarding the thought process on each aspect of setting up and running of the business. This book is focused on the building of Ambuja, easy to read, comprehensive, and depicts the trials, turbulations, and triumphs at each step.

Old Economy vs. New Economy – Indian family businesses adapt well to the digital world

This article was first published in Family Capital on October 5, 2021, Co-author: Ramachandran, Kavil; https://www.famcap.com/2021/10/old-economy-vs-new-economy-indian-family-businesses-adapt-well-to-the-digital-world/ 

Family businesses evoke the memories of a Bajaj scooter or a Godrej lock, in India. Though now they dominate even the sunshine industries like pharma, telecom, biotechnology and information technology with firms like TCS, Wipro, Sun Pharma, Biocon and Airtel being the largest players in their respective industries. Yet, when we talk of new age industries like e-commerce and analytics, we often think of the Flipkarts, the Swiggys, and the Microsofts, all of them either private equity backed startups or non-family firms. Family firms are not yet known in a big way in e-commerce and the next generation wave of technology viz. artificial intelligence, analytics and machine learning.

Belying anecdotal worries about the potential of family firms to withstand the rush of competitive forces in the economy post liberalization in 1991, family firms registered remarkable growth. Removal of restrictions and controls unleashed their entrepreneurial spirit. Taking advantage of the changing business landscape through the 1980s and the big bang reforms of 1991, family-firms built businesses in all industries including in areas otherwise reserved for public sector and the upcoming industries.

Family firms now face another set of challenges different from the ones they faced post-liberalization; that of disruptive technologies and digital economy. The traditional business models are being challenged and the speed of change is nerve wrecking. Some of the unique advantages that family firms possess, like long-term orientation, loyal employees and owners’ passion, may be deterrents to being agile and innovative to cater to the changing market demands. So far, the family firms have been laggards in the race. But will it be the story of the tortoise and the hare? With slow and steady winning the race?

Take the example of Tata CLiQ. In 2007, Flipkart pioneered the e-commerce market in India, with Amazon foraying in in 2013. There were many startups that tried to compete and then either shut shop, consolidated or gave up the dream to become as big as either of them. Five years back, in 2016, the Tata group made a silent entry into e-commerce with Tata CLiQ. It has neither sprinted ahead of Flipkart and Amazon, nor is it the most popular. Yet, it’s gaining ground slowly and steadily. They do not believe in offering deep discounts like the other portals do and have strategies that they know are sustainable. They have been adding more brands to their platforms, have steep revenue growths, and have acquired some well-known existing e-commerce platforms.

Would Tata CLiQ ever topple Flipkart and Amazon to become the number one e-commerce portal in India? We do not know. But what we do know is that Tata CLiQ is here to stay and will benefit from the experience, the philosophy and the resources at its disposal as a part of the Tata group. While Flipkart will have to rely on external funding, the Tata group acts as the venture capitalists for CLiQ, saving them from the pressures of finding funds. Even in the past, the Tatas started their information technology business as a division of the group holding company Tata Sons, in 1968. The company was listed only in the year 2004.

Similarly, many family firms have presence in the new age businesses, albeit in a small and no-frills fashion. Owing to the reputation of the family at stake, they may take them public only when the venture achieves a respectable size. Many of these businesses are championed by the next generation members of the family who are more exposed to the current trends due to their education or interest. The trend has made it easier for the next generation members of the family to do something of their own. It is easier for the family to invest in a member of their own family rather than trust their money with a 30 something youngster with a risky idea. Puneet Dalmia, a third-generation member of the Dalmia Bharat group started the online career portal, jobsahead.com, with funding from the family. It was later acquired by Monster worldwide. Puneet then joined the core family business but continues to act as a venture capitalist for other startups.

Like the Dalmia group, many family firms have become active investors in the startup eco system, either in their own capacity as a family or through the firm. Apart from investing in fields of online education, e-commerce, agri-solutions, investments in emerging technologies and digital space are also popular amongst the families who have been involved in traditional businesses only so far. For example, Premji Invest, the personal investment arm of Azim Premji family, has invested in wide ranging startups- from food (iD fresh foods) to data management and analytics (Data Stax) to e-commerce (Snapdeal). While the family firms may not have direct presence in many of the new age economy businesses, they do have significant stake in many of them through investments. These investments are typically in personal capacity or through the family office, without disrupting the core family business. Though being cautious about their reputation, family businesses monitor the progress closely and may impose certain strategic restrictions.

New ventures by next generation family members and investment in startups by non-family members requires robust governance mechanisms to approve the funding by the family. The buy-in from the investment committee of the family or the family office is important. The venture must be approved keeping in mind the long-term goals of the family. Professional help from wealth managers and experts from financial institutions may be needed to evaluate the financial viability of the proposed venture and subsequently to monitor it. In many cases, the socio-political clout of the proposer within the family influences the decision making, apart from the economics of the proposal. Through sound governance systems and processes the subjectivity can be minimized.

The Malaxmi Group- An Empowered Team in Action amidst a Global Pandemic

This caselet was first published by STEP on May 14, 2020; Co-Author: Pramodita Sharma, University of Vermont, USA; https://www.stepresearch.org/the-malaxmi-group-an-empowered-team-in-action-amidst-a-global-pandemic/

Headquartered in Hyderabad, a city of 6.8 million and a major technology centre of India, the Malaxmi Group is diversified Group that comprised of several small and medium enterprises (SMEs) in infrastructure, agriculture, irrigation and water management, and construction, with operations spread across India. Since its inception in 2006, founder Harish Chandra Prasad, a mechanical engineer and computer scientist, aspired to build a professional organization and hired his team very carefully to ensure a good fit with his vision of a focus on quality products and services, and values of building a sustainable business on strong ethical foundations. Rapid growth followed. By the end of 2019, the Group’s revenues exceeded $10 million with 300 plus employees. However, there was some catching up to do in terms of internal systems and strengthening relationships internally as well as externally.

Corona Virus in India

By first week of May, India had lost over 1,700 citizens to the virus and another 53,000 had tested positive. The country’s mortality rate of 1.0 per million population and proportion (4.2%) of positive amongst those tested were much lower than in many other countries. Nevertheless, in an attempt to contain the spread of this infectious virus in a populous nation of 1.3 billion with poor health infrastructure, on March 24th the Indian government imposed a complete lock down of the country without giving even one day notice. SMEs feared the devastating effect of the lockdown on them and the economy. Even Malaxmi Group had to stop all works spread across 16 project locations, severely affecting their operations.

Crisis Management at the Malaxmi Group

Malaxmi had invested in a strong team of professionals. They felt that their Group can emerge stronger in the post-covid era, if they utilise the lockdown time to revisit every assumption of the current business practices, set strong systems and processes for the future and pivot the organisation to meet the uncertainties of the future. While providing thought leadership and holding weekly meetings with the top management team, the founder empowered his CEO, Pavan Kumar Bang, to spearhead the exercise. Few proactive measures pre-lockdown and actions post lockdown include:

Vigilance and AgilityWhen stories of the Corona virus epidemic in Wuhan, China reached India in January 2020, Pavan and his team followed it closely as some of their spare part vendors were based in this region. Immediate efforts were made to look for alternative suppliers within India. By the time the borders were closed, and international travel restricted, an alternate supply chain had been established.

Work from Home ProtocolsAnticipating the work from home advisory, Malaxmi decided to implement work from home one week before the Government directives. This helped the team to be equipped with laptops, internet connections and other hardware. When many others were still absorbing the shock of the new work from home reality, a 9:00 am to 7:00 pm ‘work from home’ routine has already been established for the Group and they hit the lockdown running.

Aligning Team Members and StrategyEmployees were encouraged to make a list of routine work-related activities and at least three new activities that were not a part of their routine responsibilities that each of them would take up during the lockdown period. Teams of employees were assigned specific tasks with an overarching aim to rigorously assess, ideate, innovate and consequently update the current systems and processes to help the Group beat the competition and stay ahead in the game. In addition, taking steps to build long-term trust-based relationships with key internal and external stakeholders was stressed upon. Some of the initiatives taken by the Group to achieve these include:

Process Evaluation and improvements:

• A comprehensive list of drawings, do’s and don’ts, mistakes committed and their root cause analysis, and good practices followed at project sites and all projects worked on was prepared, along with pictures. They were catalogued and stored with a semi-automated retrieval system for future reference and learning.
• Every assumption and convention of the businesses was questioned. WHY-WHAT-HOW matrices were prepared for several products and processes.
• Project proposal templates were revamped and standardized for potential customers.
• Financial statements were analysed closely to identify areas of improvement. Long overdue credits and debits were either written-off or cleared. 

Automation and Software upgradation:

• Realising that there will be uncertainty in availability of skilled workers, technologies to semi-automate several activities in construction and project execution such as plastering, tile laying and painting were identified and evaluated. Ten percent of the capital budget for the next year was allocated for procuring such tools and equipment.
• Enterprise Resource Planning software that had been bought 5-6 months earlier, but the implementation was patchy due to lack of time, training and commitment, was now being implemented meticulously.

Vendor relationships:

• Regular calls were made to all vendors, adjusting payment schedules to support those who were in dire need and delayed payments for the better endowed after discussing with them.
• Vendors were requested to conduct e-training for technical team members on issues like site level quality assessment of products, correct installation methods and do’s and don’ts while handling their respective products.
• Pictorial do’s and don’ts manuals were prepared for working with vendors and customers.

Employee training and skill enhancements:

• Senior and skilled technicians were encouraged to make videos on improving quality, increasing speed of execution and standard operating procedures for future training purposes.
• It was decided to reskill and employ existing team members in other departments. Internal job postings were done, interviews conducted, and transfers done. For example, new Quality assurance and Safety department were created with internal transfers and additional training.
• Online training programs were identified for each employee to help them be better prepared for future challenges.
• Employees were encouraged to challenge underlying assumptions and practices embedded in the Group to identify more efficient, environment friendly and sustainable solutions.

Family Governance:

• On his part, Harish started to adapt to working in a paperless virtual environment.
• He undertook peer discussions and consultations with family business experts and lawyers during this period to understand the best ways to govern the family business, steps to be taken for longevity of the enterprise and plan for succession of ownership and wealth transfer.
• He actively started to engage in treasury management and functioning of the family office too.

Key Insights

• Thoughtful visionary leaders can form organizational systems and structures to bring calm and efficiency in the storm of a global pandemic.
• Empowered teams with clear guidance and accountability can find multi-dimensional opportunities to strengthen organizational processes, systems and relationships, in a crisis.
• Paradoxically an obligatory moment of pause is an opportunity for intense activity on important yet ignored projects in the everyday rush of a growing family enterprise.

Sources: http://malaxmi.in/  | http://chiraharit.com/ | First authors’ interview with the CEO

Innovative Steps Toward Gender Equality

How corporate programs and policies are overcoming India’s entrenched cultural obstacles

This article was first published in GARP Risk Intelligence on March 6, 2019; Co-author: Nitya Bodavala

https://www.garp.org/#!/risk-intelligence/all/all/a1Z1W000004o3dpUAA

Research has shown that women make or influence 80% of consumption decisions and account for (U.S.) $20 trillion of consumption expenditure. It would make sense for companies to get this fairly large demographic on their side.

Unfortunately, in India, the participation of women in the workforce has been declining due to a deep-rooted patriarchal mindset and culture that results in large gender-based disparities at all levels; pay, availability of opportunities, and household chores being just a few. 
However, there are a few companies in India that are rising above the mindset and adopting innovative ways to make the workplace more inclusive. We discuss a few such initiatives in this article.

Leadership Programs

There is a tendency for women with high potential to stray from the leadership track mid-career. There could be a multitude of reasons, but companies should be able to recognize this and do what they can to retain these talented women. A leadership program that aids female employees in developing competencies that ready them for leadership roles is one way to go about it.

Leadership programs tend to provide networking opportunities, classroom learning, mentors and coaches for personal development and guidance, etc. This kind of personalized attention, and the knowledge that the company they are working for is rooting for their success, acts as a huge motivating factor.

In 2016, the Mahindra Group launched its Women Leaders Programme (WLP). It aims to bridge the gender gap and help female employees in middle management. It spans 18 months and “aims to create a pipeline of female leaders and change agents for the Mahindra Group.
 So far, 54 women managers have been trained through the WLP. Tech Mahindra's efforts to be more gender inclusive have been recognized by the 2018 AVTAR and Working Mother Best Companies for Women in India.

While Mahindra's WLP targets women in middle management roles, Bank of America targets those at the vice president level. Of the bank's management and executive positions, 46% are held by women. 

Its “Pathway to Progression” aims to increase retention and engagement and accelerate the women's advancement. In 2016 and 2017, 172 women participated, of whom one-third have been promoted.

The bank also has two female-specific insight programs, “Female Futures” and “Females in Finance.”

All-Women Teams

At first glance, an all-women team seems regressive. However, it makes it easier for companies to streamline a process that has the best outcome for women. It also makes it easier to monitor their progress and development.

Dr. Reddy's Laboratories, while taking stock of the ratio of men and women in each division, found a lack of women in the sales and marketing divisions. In 2016, they started SHE, or Special Hospital Executive, a sales force that consists mainly of women looking to re-start their careers. 
The company altered the work requirement of a regular medical representative to better suit these women. As opposed to having to visit 10-12 doctors a day at various medical institutes, these women form a lasting relationship with one institute. This also implies shorter working hours and less travel.

The initiative has been beneficial in that the company now has a presence in 25 medical institutes that were previously unexplored. The sales force also allows for penetration into those medical colleges that are girls-only. While there are currently 100 SHEs spread across three divisions, the company is hoping to increase these numbers.

Bajaj Allianz General Insurance has introduced all-women branches in 19 cities across India. They also recognize the difficulties associated with women trying to re-enter the workforce after a break and are seeking to make it as easy as possible. Women can bring their kids to work, have laundry and groceries delivered to the workplace, have flexible hours and the option to work from home.

Women in Manufacturing

The paucity of women in manufacturing is old news. The steps that some companies are taking to remedy this, however, are new and innovative.

Bajaj Auto has set up women-only assembly lines at its Pantnagar and Chakan plants. The number of women working on the shop floor has increased from 148 in 2013-14 to 355 in 2017-18.

At Dr. Reddy's, new roles in warehousing, research and development and process engineering that were previously unavailable to women, were made available to them in 2016. In addition, women were hired at all levels – entry, middle, and senior – and their families were invited for plant visits to inspire confidence about the safety of working there. 

The company found that the number of women in these roles grew, and there were fewer resignations post-maternity. Dr. Reddy's was the only Indian company to feature in Bloomberg's Gender Equality Index for 2018 and topped the list of 200 companies that were a part of the “Diversity in Corporate Asia” report by Carnstone.

Aside from WLP, the Mahindra Group also aims to break down barriers in the engineering, procurement and construction (EPC) field through Project SuryaShakthi. As part of this corporate social responsibility project, women are trained to be solar technicians who can then install solar panels.

They undergo three months of training, in the classroom and on-site, which includes financial and computer literacy, self-defense classes, and entrepreneurship skills. The growth in the solar industry, coupled with the concept of all-women installation teams, will undoubtedly contribute to change in how working women are perceived.

Knowing Your Employees

There can be no blanket policy that works for all companies and all employees; policies have to be tailor-made. To attempt to understand an employee's needs, companies could carry out studies and surveys that will help them with policy-making and ultimately yield satisfied and productive workers.

Every year, Accenture produces a “Getting to Equal” report. The 2018 report surveyed 22,000 working professionals in 32 countries in an attempt to identify factors that could affect the culture of a workplace, and further affect gender balance. The report focused on 40 factors that, if put into common practice, would increase the average number of female managers for every 100 male managers from 34 to 84. There could also be an increase in women's pay by 51%. Some of these factors are:

- The organization clearly states gender pay-gap goals and ambitions

- Leadership is held accountable for improving gender diversity

- The company has a women's network, which is open to men

- Women are encouraged to take maternity leave

- Leaders take action to get more women into senior roles

Embracing Motherhood

Forty-three percent of mothers choose to leave their jobs after having a child. Rather than look at motherhood as an inconvenience, companies should attempt to embrace motherhood and provide a supportive environment for their employees. 

They might also want to consider the cost involved with on-boarding and training new employees, versus spending a little more to keep the ones that they have happy.

Nestlé India offers 26 weeks of maternity leave with full benefits and leaves it to the discretion of the employee as to when she'd like to avail it. Upon returning, she is assured the same position or one of equal standing. All permanent female employees are allowed six weeks of adoption leave.

The company also allows for mothers to breastfeed at work. All facilities that have upward of 50 women are equipped with separate rooms for breastfeeding in private. The “Start Healthy Stay Healthy” campaign provides guidance to new and expectant mothers.

Incentivizing Inclusion

As of 2015, 79% of Pinterest's workforce was male, the majority white or Asian. The company had found that referrals were the best way to get to new talent, but employees had a tendency to refer candidates whom they identified with, that is, people similar to them. 

Pinterest challenged its employees to refer people from diverse, under-represented backgrounds. This was good news for women – female referrals increased 24% – as well as those from minority communities.

In 2017 the company's tech division was 29% women, the business division 62%, and in the workforce overall, women were 45%. For every open leadership position, the company has mandated that at least one woman be interviewed. Unconscious-bias training is a priority for employees and managers alike.

Conclusion

Accounting for and implementing policies that maximize the productivity of women at the workplace is not an impossible task, nor is it one that eats away at profits. McKinsey and Co.'s recent study on business and diversity found that companies in the top quartile for gender equality were 21% more likely to attain above-average profitability.

For a company, the difference between above-average profit and average profit can be quite large, and the cost of inclusive policies fairly small.

The CEO at home

This article was first published in ISB Spandan, Vol. 2, Issue. 2, February 2018; http://flipbook.isb.edu/pages/Spandan/Vol2-Issue2-Feb-2018/html5/index.html?page=1&noflash

“I have been inspired by her. What little success I have achieved, should be credited in large measure to my wife’s influence.”- A rare legacy- Memoirs of Basant Kumar Birla

“Please understand. If I don’t do it, who will? The buck stops at me”. 

The buck is supposed to stop at both of us with regards to our child. But it usually stops at me because you are not around!

“I will be leaving at 4am tomorrow and will be back at around midnight”. But you just came back from Uganda? Must you travel again immediately?

“Anything urgent? I am in a meeting”. Can I only speak to you when there is an urgency?

“Please sleep, I will not be able to call today. Will get free only after 11pm. It will be 2am for you”. But we have just spoken 4 words since you left 4 days back.

These are snippets of regular conversation at home between my husband and me. My husband is a serial entrepreneur. Even as one business is getting established, he moves on to the next one.

When I think of the life that we could have had if he decided to take up a regular job- foreign vacations, attending parents-teachers’ meetings and social outings together and so on- the grass definitely looks greener on the other side and I must admit that the sacrifices do not seem worth it at times.

It is said that behind every successful man, is a woman. I would say that behind every successful man is a wife who spends hours worrying about the time her husband would be back home, managing the family while he travels extensively, taking flak for his absences from the extended family and sometimes not even being able to talk on the phone while he is firefighting.

The journey of an entrepreneur is laced with passion, hence seems pleasurable to the entrepreneur. The wife need not share the same passion and it is difficult to understand the long hours, the ever-shifting goal posts, the failures and hence the opportunity costs.

The role of the wife of an entrepreneur is as important as the entrepreneur himself in the success of the enterprise. She is the Chief Emotional Officer (CEO) who works tirelessly, with patience and perseverance, to maintain stability at home, inculcating the right values in children and their overall upbringing, keeping the communication flowing, being the cheer-leader in an environment of chaos and uncertainty and listening to the stories of challenges at work that never seem to end.

The CEO at home is invisible, plays subtle and less formal roles of supporting, advising, listening and at times emphasizing on the humane aspects of business decisions. Their observations, emotional capital and intuition go a long way in shaping the big picture for the entrepreneur.

Whether a wife is a home-maker or working, it doesn’t matter. Being married to an entrepreneur is not easy, yet exciting. So cheers to the entrepreneurs’ wives and to women in general who have the uncanny ability to handle a variety of situations with aplomb.