The High Performance Entrepreneur. 1. Subroto Bagchi August, The High Performance Entrepreneur; 3. Of all entrepreneurial activity. By Subroto Bagchi. To download The High-Performance Entrepreneur: Golden Rules internet computerized library that gives usage of many PDF file e-book. To read the document, you will want Adobe Reader computer software. If you do not have Adobe Reader already installed on your computer, you can download.
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High-Performance Entrepreneur book. Read 47 reviews from the world's largest community for readers. Difficult though setting up a business is, becoming a. PDF | On Jan 1, , Paul D Reynolds and others published High performance Conference: 13th Babson Entrepreneurship Research Conference. Cite this. To save The High-Performance Entrepreneur: Golden Rules for. Success in Today's World PDF, make sure you follow the hyperlink under and download the .
Mindtree Consulting is headquartered in Bangalore, and when it went public on the Bombay Stock Exchange in February, its stock offering was oversubscribed more than times. In the first of a two-part podcast interview conducted in Philadelphia, Bagchi spoke with India Knowledge Wharton about the principles that define high-performance entrepreneurship.
Knowledge Wharton: What sets the high-performance entrepreneur apart from other entrepreneurs? Bagchi: Actually, the book that you talked about, which summarizes my thoughts about entrepreneurship, was largely set in India. And if you look at countries like India which are highly populated — if you look at India, China, Pakistan, Sri Lanka, Asian countries where entrepreneurship is going to be very key as we look at the next couple of decades — there is no dearth of entrepreneurs and entrepreneurship in these parts of the world.
You have the multitude of small- and medium-sized organizations which come and go. High-performance entrepreneurship, on the other hand, sets itself apart by a multiple of things.
One is the size of the ambition.
The second is the sustainability. So, high-performance companies, high-performance entrepreneurships, are ones that will build unusual value for a long time, for a large number of stakeholders. And fundamentally, they differ from any other entrepreneurship in terms of size of the ambition and how much of a long view of time they are taking.
Knowledge Wharton: You referred to the fact that a lot of your book was set and based on experiences in India. Do you think that entrepreneurs need certain kinds of attributes or qualities to succeed in India that are different than what they might need in order to build a thriving business in another part of the world? Bagchi: Well, the differentiations are going away because one is seeing is that the world is truly a flat place or increasingly becoming flattened, and attributes are becoming more and more global.
Having said that, though, if you look at a country like India, I think that there are a couple of things which are very unique.
One is the fact that when you contrast India with the United States, for example, the concept of starting your business — the concept of becoming an entrepreneur — has become socially [speaking] only marginally acceptable now. When we were growing up, if you failed in your studies, then you started a business. If you did not get a job, only then it was the last recourse.
And if you started a business, then you would be low in the pecking order for people to give their daughter to you.
So business folks were the folks who married into their late thirties because nobody would give their daughters [to them]. Now, there is a societal celebration of entrepreneurship in countries like the United States; whereas in countries like India, it is not so. More than that, there is a stigma against failing. In India, it is not okay to fail.
In addition to that, the other key difference that I find is that, unfortunately, when you start a business in India, unless you are in a highly ratified business like information technology or biotechnology, where the system does not bother you, in any other business you have to work the system.
Every country in the world has corruption at some level or another. The great thing about the United States is that an ordinary individual, in the normal course of day-to-day living, does not have to deal with corruption, does not have to deal with working the system, which is a core competency that you have to have [in India], unless you are in a business like information technology or something like that.
I think if those two things were not there, entrepreneurship would take on a whole new meaning in countries like India. Knowledge Wharton: Where should entrepreneurs look for business opportunities? Bagchi: In unusual places.
And I wanted to look for such people in the Indian context. The interesting thing is that all these three people, the founders, are first-generation entrepreneurs. All of them came from middle class backgrounds, very ordinary backgrounds — they are very self-made people. Unlike organizations that are born out of larger organizations, they are people who basically came from literally nowhere and set up large, successful [businesses], and some of them even good enough to be competing globally.
Knowledge Wharton High School I was looking for where these people [got their] ideas for business opportunities. This is an Army captain who quit the Army.
Then, he got into biofarming. Once he was into biofarming, he thought that he would basically do farming on a piece of land that his family had been given in compensation because their land was taken away by a dam project by the government. And while doing that, this man used to come to the nearby city occasionally to visit his daughter. There, he met another Army colleague who used to fly a helicopter in the Army and was a very successful helicopter pilot.
He had just come out of the Army and this friend tells Captain Gopinath that he has found a job. And then he led a delegation of farmers to China. On the way to China, he read about a Vietnamese lady who had set up a helicopter company in Vietnam, because she wanted to do something for Vietnam, having fled Vietnam during the war. She had set up a helicopter company in Vietnam because she felt that was what an infrastructure-poor country like Vietnam required.
He thought about his army buddy and said if Vietnam needs a helicopter company to overcome its infrastructure problems, what about India? From a helicopter company he [saw] another apparition, because entrepreneurs many times see the future in pictures and in visuals. This apparition happened when he was flying low from Bangalore to Goa in his helicopter. The more practical a mindset, the more likely it is to prove beneficial for the start-up. The third prerequisite to start a corporate is to consider and explore the options available aplenty and wait for the right time to cash in on the right opportunity.
Keeping a track of the latest upgrades and developments to have taken place more recently in the domain we're planning to invest and see ourselves grow can prove more than useful in the long run. The author doesn't hesitate to point out that the aforementioned prerequisite is indeed the most crucial and a potential deciding factor for success of the business establishment. The fourth and the fifth prerequisites are closely related and can be considered as a singly knit well bound pair of requirements.
Choosing the right team is as important an aspect as defining the DNA, mission, vision, and values of our start-up. It becomes absolutely essential to ensure that our team comprises of professionals who're willing to work hard, adapt to changes without too much of hindrance, flexible and broad minded in their problem solving capabilities, willing to be open minded to consider various available options before taking or making decisions, willing to commit to work full time and possess extraordinary levels of work ethics, communication skills writing and speaking , persistence, and endurance.
A good team is the one that boasts of good mutual understanding, mental co-operation, and coordination. Once the kind of team previously mentioned takes shape, the fifth prerequisite of defining the DNA, mission, vision, and values fall into place without too many hiccups.
However, it is not advisable to completely ignore this requirement, for doing so could spell doomsday on the team's business prospects in the long run. The next prerequisite makes it to the author's list for obvious reasons as is suggestive from his views on the same.
The need to raise a question to ourselves - How is our business idea or plan different compared to the rest who're already ahead of us and ruling the roost in the market? In short, how effective will our strategy to combat stiff competition be? What are we planning to do differently to gain competitive and strategic advantage over our competitors?
What are the prospects that our strategy will yield desirable and fruitful results? As always, this prerequisite always brings along additional baggage of ifs and buts with it.
The seventh prerequisite is penning down our business model and analyzing it for visible and hidden defects, advantages, and feasibility. A gleeful glance at the business plan time and again, before and after the completion of the draft does no harm as it may lead to identification of more glitches in the model. It takes two-and-a-half hours to enter Singapore from one end and get out at the other end.
Thats the size of the country. Look at Israel. Countries like Singapore, or Israel, or Finland, are world leaders in many ways. These are developed countries. These countries are at the top-end of GDP. But they are so tiny. Theyre microscopic when you compare them to countries like India or Pakistan. Many of the African countries are significantly larger. In todays world, physical size does not guarantee success. What is important is mental size.
Nokia was created out of Finland. Its very important to understand this because I think entrepreneurs suffer from an inferiority complex. They think that the world is going to favor size. No, todays world is not about size, it is about an idea. If you have the right idea, you can take on size.
So dont be scared of size. You know, size gives you a sense of the power of incumbency, and entrepreneurship is about non-incumbency. I keep saying that in a world full of monochromatic tadpoles, if you are fluorescent it does not matter what size tadpole you are. Why Entrepreneurs Fail?
There are many reasons why entrepreneurs fail. Sometimes people fail because they dont take a long view of time. Sometimes they fail because they do not adapt. I think adaptability is very important.
You know, you fall so much in love with an idea, an immediate idea, a product or service idea. You think that that is the be-all and end-all. When that idea itself fails, since the idea has become your entrepreneurial dream, you see the enterprise fail and then you go a different path. When you look at building an organization, yes, the first idea is important, but an organization is built only as an idea of ideas. Look at Apple. When the company started out, if somebody had said that it would be a music company, Steve Jobs might have shown him the door.
But look at where Apple has gone. Apple is not about Apple 2E; it is not about the Mac; it is basically an idea of ideas, or what is sometimes called a memeplex. The enterprise called Apple is about building that enterprise called Apple, and that has nothing to do with computing. Resilience The other thing that kills you is lack of resilience. You start a company and suddenly you find that you are in the middle of a messy divorce.
You start a company between three friends and suddenly find that somebody has a huge domestic problem. The capability of large, established organizations to take these things in their stride is far greater; this is where the power of overhead kicks in.
In a fledgling organization, the capability to rise from personal adversities is relatively lesser. When we started MindTree with 10 of us, many people thought, Oh my god, this is too much overhead.
But we used to say, No, we are blessed with bandwidth. If you look at a seven-year-old run between the starting of the company and the IPO, different people among the 10 had different problems.
But because we had the collective bandwidth, when somebody dropped the stick, somebody else picked it up before it fell to the ground and ran with it.
So, resilience is a very, very important thing. It is not a sprint; its a marathon. Any of these things could lead to failure. Advice To Entrepreneurs The first piece of advice is to just do it.
No amount of simulation is equal to the act. You absolutely have to do it. The essence is in the act. Thats why the last portion of my book I had written that its like falling in love. Its also a little like having a baby.
No amount of spasm is a substitute for conception. So be seized with it, get pregnant and, for heavens sake, deliver.