What can budding entrepreneurs assimilate from successful entrepreneur and Former MD of Religare, Sunil Godhwani. Nuances of corporate social responsibility and innovations to be pattern of right business model!
“I wish to build the next Amazon”, “Once I graduate, I will establish my own practice”- current paradigm that resonates with many ambitious young Indian graduates. For the youth of India, the model start-ups are companies like Facebook and Amazon, and model entrepreneurs are the likes of Arun Alagappan, Sunil Godhwani, and M G George.
The scenario was very different in the 1990s, as working in a private company or a startup back then was considered as the “loss of talent”. Today, in contrast, the nation is brimming with entrepreneurs. Such is the wave that as per the recent survey by Randstad Workmonitor, about 83% of the Indian workforce would like to be an entrepreneur. This has significantly changed India’s industries such that the nation now ranks amongst the top 5 start-up communities in the world.
The current Indian business model is driven by innovation, inspirations and willingness—all key traits of a successful entrepreneur. The private sector in general, is now more simplified, owing to exemplary visionaries, advanced technology and solution-centric methodologies. Of late, reorganization is also been considered as a good choice by entrepreneurs, businessmen, for making the company all the more robust and nearly indefectible.
There are a few notions that the current crop of investors, entrepreneurs and startup gurus need to get a hang of. For instance, breaking and segmenting business or simplifying businesses to create more value and more fluid operational facets. The notion of value creation, however, seems to be a rather illusive concept – considering that it requires years of experience to understand and implement. Thus, it won’t be a stretch to say that the current business and startup crop could use a mentor to guide them through the nuance of the industries.
That said, there have been few successful examples in reorganization of businesses in India, with one substantial contribution coming from Sunil Godhwani in the year 2016. A modern day maverick, Sunil Godhwani has been pivotal in mentoring new businessmen and entrepreneurs across the country – post his stellar career in the finance industry. Godhwani, who previously led Religare has been rather active in startup circles mentoring founders and investors.
Furthermore, Sunil’s simplified management and business building was apparent from his stint at Religare Enterprises ltd, where he took major decisions into segmenting and restructuring the financial giant to create more ‘value for stakeholders’.
“Innovation is the key principal to achieve anything in life, therefore a person who can learn to scrutinize his own decision or aspirations, would be acknowledged as the one who is truly free and a visionary,” advises Mr. Sunil Godhwani to the young ambitious entrepreneurs. Godhwani further stressed upon segmentation and building value, “Strong institutive grasp means the ability to see around the corner”.
Evaluation and strategy involved in reorganization of the existing operating business of Religare, in general, goes to its Former Managing director, Sunil Godhwani. “We grew to this level under the holding company model – to simplify the structure, unlock value,” stated Mr. Godhwani during the reorganization of Religare.
With the current business mood shifting more towards corporate social responsibility, as a mere profit-making capitalism is not admissible in Indian context. Thus, simplification and catering to every member equivalently has become one thing that the Indian entrepreneurs and visionaries are adapting to. The next challenge before Indian entrepreneurs is not to make the next Amazon, but to go beyond profits, and consider about our families, and our employees, to think of the society at large.