by Darpan Sachdeva
With my extreme love and appreciation for the Tata family and the group as a whole , i am confident that Mr Ratan Tata is always going to be the key hold name and inspiration for all the entrepreneurs globally now and for the times to come.
Mr Ratan Tata is an Indian Business Leader, investor, philanthropist and Chairman of TATA Group. The Video down below is a tribute to the great man.We know him by his vision, ideas, Entrepreneurship skills, Quotes, Business strategies, Philosophy, ethics. His Motivational Speech inspires us every time. He has been honored with Padam Bhushan and Padam Vibhushan ,Indian national awards for his service.
Down below are few takeaways for any entrepreneur from an interview with him at the launch of seed program— Kstart, on Feb 5th, 2016.
If you were a 26-year old entrepreneur of today
Ideas come when you see a problem. Find problems to solve and then put time, energy and efforts to create ventures out of these thoughts or ideas.
In the very limited time that I have been associated with startups, I have heard ideas which I thought would never work. However, those ideas have gone ahead and done fairly well. I realized I am on the learning curve of understanding what young intelligent people around me can do.
Principles on which companies should be formed.
It is exciting if your idea can change the way people live, think or sustain themselves. For me, partly due to my involvement in philanthropy, I am particularly excited when an idea can, in addition, make a positive difference.
What qualities should one look for in an investor?
One looks for investors who have a similar sort of excitement and passion for what one is trying to do. Collaborate with an investor who is not only willing to risk his money but also participates in the journey of the entrepreneur, and use his contacts, mentorship etc. to make the entrepreneur’s vision work in the real world.
Growth v/s profitability, how does one find the equilibrium?
There is no single formula or proven science behind this. In the last few years, I have seen companies grow at rates that I never thought would be possible. The next question then is, can these growth rates be sustained. I think it should be about how you want your vision to be implemented and then closely monitor the progress at each stage.
Importance of creating a personal brand for a startup CEO
I think it is a personal choice to build your brand inseparable from a company, some people do it while others don’t.
Many founders believe that communicating too much gives away their competitive advantage. However, an active system of communication with all stakeholders is a great plus. Successful CEOs do it religiously. It is important to know that “how the world sees you is a result of how well you communicate”.
Celebrating success and defining moments
There have been several successful moments in my journey. But the one moment under the sun that clearly stands out for me was the launch of the Tata Nano. The idea came when I saw a family going on a scooter on a rainy day. They met with an accident and were lying on the road. That got me thinking about how to make a two wheeler safe — which in turn led to the concept of making an affordable four wheeler. Tata Nano is a result of that thought.
We put together a team to design and manufacture the car at a price point that was extremely affordable. We launched it at the auto expo in Delhi. It was a spectacular event.
One thing you wish you had known at 26
As a young employee at Jamshedpur, I went to my bosses with a lot of ideas, but often I wouldn’t be heard and would be told to continue doing what I was doing. In such situations, I yearned for an environment where one would be heard when one had an idea. Maybe, I did not know how to frame my question or idea. I think how you communicate is something you wish you could have done better when you were young.
- JRD Tata: who left his mark on the industry in India; was a tremendous mentor to me
- Henry Schacht: Former chairman and CEO of Cummins Diesel inspired me a lot. I learnt a lot from him.
- Amar Bose, who formed the Bose Corporation. He and I became very close. We spent a lot of time exchanging ideas.
Darpan Sachdeva is the CEO and Founder of Nobelthoughts.com. With a long time passion for Entrepreneurship, Self development & Success, Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances.To keep going and never get disheartened and learn from every adversity.