Thursday, October 17, 2019

Quotes from Rashmi Bansal’s Stay Hungry Stay Foolish

"Entrepreneurs are seekers. And they are always open to change. There are different kinds of pressures operating at each stage -- you evolve and learn to cope with them." ~~ Rashmi Bansal (Book: Stay Hungry Stay Foolish)

"There’s no such thing as a failed entrepreneur. You are a failed entrepreneur only when you quit, until then you are simply not successful -- yet." ~~ Rashmi Bansal (Book: Stay Hungry Stay Foolish)

"If you are starting a business, to make money don't do it. Chances are you will fail because there will be hard times. And if your motivation is not something beyond money, the hard times will test you. You will quit and go back to your job. But if you are doing something for other than money, you will rough it through the hard times." ~~ Sanjeev Bikhchandani (Founder and executive vice chairman of Info Edge which owns

"More than monetary sacrifice, it is really the sacrifice of time when you are an entrepreneur. And that is a much more expensive sacrifice than money." ~~ Shantanu Prakash (Founded: Educomp Solutions Limited)

"Develop a thick skin if you want to follow your heart. Because chances are your family and friends might not understand or approve of your idea." ~~ Vinayak Chatterjee (Founder: Feedback Ventures)

"Have patience during difficult times. Don't lose your balance and try to carry the team with you." ~~ Madan Mohanka (Founder: Tega Industries)

"Luck is very important -- it is 50%. But that luck will not come unless you put in the effort and in the effort, a very important element according to me is a daily review of what am I doing, where I am and being ruthlessly honest with yourself. Most people blame the environment -- My belief is I can change and that we must learn to nakedly honest with ourselves." ~~ Sunil Handa (Founder: Eklavya Education Foundation/Core Emballage) 

"You are hurting the business if you keep giving bigger jobs to the original team when you know there is someone else who can do it better. As fresh blood comes in its only natural that some of the older folks who don't scale up their skills get left behind." ~~ Deep Kalra (Founder: MakeMyTrip)

"If you fundamentally believe in your business, you aren't guided by 'popular opinion'. You go by your own gut feel and put your money where your mouth is." ~~ Rashmi Bansal (Book: Stay Hungry Stay Foolish)

"Never have equal partners. You start off as equals but then one does more, one does less, one is the public face, the other is not and then slowly the whole things disintegrates. Also, there shouldn't be too many partners." ~~ Rashesh Shah (Founder: Edelweiss Capital)

"Everyone is not going to survive no matter how talented you are." ~~ Nirmal Jain (Founder: India Infoline Ltd.)

"Entrepreneurship is risky. So you should have a mindset, should be prepared to fail. If you are not prepared to fail and can't handle failure then this is not your cup of tea." ~~ Nirmal Jain (Founder: India Infoline Ltd.)

"It has to be an inner drive to succeed in what your objective is. And it cannot be money in my mind. If you want to get into entrepreneurship to make money, I don't think you will be as successful. Because ultimately there is only one thing that drives this -- passion. I will quit the day I don't have any more passion for this job. I am very certain." ~~ Vikram Talwar (Founded: Exl Service)

"Choose a goal and focus on it. It can be in the area of product, service or knowledge. Longevity of the field is important. Combine reason and intuition. If there's a tie go with the institution." ~~ K Raghavendra Rao (Founder: Orchid Pharma)

"Plans are all okay, but if you don't have the courage to make mid-course corrections and changes particularly in highly changing environments like the technology space, you will get into trouble." ~~ Jerry Rao (Founder: Mphasis)

"Breakups and shakeups are part of entrepreneurial life" ~~ Rashmi Bansal (Book: Stay Hungry Stay Foolish)

"You have to be willing to work as a partner with people. You have to be diplomatic. And understand one thing: you are not greatest, you are not the best. You are putting together the team, you are coordinating. Someone else is giving the money, someone else is actually working and it's an idea -- you are all trying to make it happen." ~~ Shiv Raman Dugal (Founder and Chairman, Institute for Clinical Research in India, ICRI)

"First is passion, if you are not passionate about what you are doing, then you are in the wrong place. Second, is courage. The buck stops with you. You cannot say that maybe, this or that. And you have to be comfortable with the choice even if it goes wrong. When you succeed, all your past and failures get wiped away." ~~ Shankar Maruwada (Co-Founder: Marketics)

"One has to have a creative streak of one need to be an entrepreneur. A strong desire to want to create something and to make that happen." ~~ Deepta Rangarajan (Founder: IRIS Business Services Ltd.)

"The single most important quality you need to have and cultivate firsthand is to get up and walk every time you fall down." ~~ Vijay Mahajan (Founder: Basix) 

"Create love and affection in your workplace. People give up their lives for what they love but no one will do it for EBITDA." ~~ Anand Halve (Founder: Chlorophyll)  

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 Hope you enjoyed reading this collection of quotes.