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HIGH PERFORMANCE ENTREPRENEUR PDF

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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 .


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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.

Along with Tech Mahindra, it is one of the new darlings of stock market — its IPO was oversubscribed a whooping times. Ashok Soota is another face of Mindtree. I usually avoid books on running a business etc — the types of steps to win, 7 Golden rules of customer Service etc. Also, I picked this book because I like and respect his thinking. His interview has appeared in Knowledge Wharton. You have the multitude of small- and medium-sized organizations which come and go.

But coming back to the idea of being an entrepreneur — one of the toughest challenges for an entrepreneur has to be coming up with a startup team.

Any thoughts on how you select the best startup team once you have decided you want to be an entrepreneur? Bagchi: You know, when we look at a startup team, we have to look at it on two levels.

One is the core team, and then the larger startup team. When one looks at the core team that is co-opting for other people who are founders, along with the entrepreneur himself or herself, I think three or four things are very critical. First and foremost, what is very critical, extremely critical, is a shared view of the future and a shared vision of the future.

Many times it is taken for granted when friends jump into entrepreneurship. Just because you are close friends, you think you have a shared vision. What is in it for us, individually and collectively? So that is very important. Number two, and the next important and very critical thing, is complementarity. If there are two friends who are trying to do business together and both of them are extremely good at the same thing, they probably should not be doing business together.

So, the startup team must have a high degree of complementarity. If somebody is good in marketing, the other person had better be complementary in terms of finance or in terms of, let us say, delivery or in terms of managing people.

The High Performance Entrepreneur | Entrepreneurship | Brand

When that complementarity does not exist, that is the first signal to step back and probably bring in that talent. Sometimes entrepreneurs hesitate to do that.

In a high-performance entrepreneurship, mental insecurity does not exist. The control orientation is less. And do it early on, so that you guarantee an enormous amount of success right up front. So, look for complementarity.

I think the third element that is very critical is mutual trust. I always say, if you look at the 10 co-founders of MindTree, we come from three different national origins. We come from three different professional backgrounds.

Some of the founders had never met each other physically before we started the company. But if you look at my own personal domestic issues — if tomorrow I am not there and I need things to be handled, you know, [for example] I need my daughters to be taken care of, I can just blindly trust these other nine co-founders.

That trust is very important, because trust, in my opinion, is not a warm and fuzzy thing. Trust is something that reduces cycle time. The other important reason why trust is critical is that the high-performance entrepreneurship is like running a marathon. When that pain — the inevitability of that pain comes in — unless you really trust each other with your lives, that is where things will fall apart.

Interestingly, a study indicates that globally, most startups fail within the first year of their coming into existence, not for technical reasons, not for managerial reasons, but they fail because the founding team goes different ways. When the trust is there, then you will not second-guess intentions. When you make mistakes, there will be no blame. When you have the trust, you know that the other person is doing his or her best under the circumstances. Collectively you bounce back, you learn.

So in summary, I think it is very critical to look for shared vision, look for complementarity, and look for abiding trust. What was your own experience like raising money from venture capitalists? Bagchi: You know, I have a slightly different view on this, and my view is that people think that raising funds is the most difficult thing and put a lot of energy behind it. The resources are chasing ideas. If you look at the example of MindTree, we raised money from two continents, from venture capitalists in the United States and venture capitalists in India.

They could be American institutional investors, they could be British, they could be Japanese, and they could be anywhere. So investment today is available if the idea is right, cross-border.

Entrepreneurs put in enormous amount of effort in trying to chase money instead of refining the concept, instead of focusing on the market research, instead of trying to test market the idea. I would say that we lived that — it took us about a year to refine the concept of the company. Our wives thought it was a crazy idea. We just stayed put. We wrote the alpha version of the business plan.

We then discussed and debated the issues ad nauseam.

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We did not take the idea to venture capitalists. It took us three months to refine several versions of the business plan before we started talking to three or four venture capitalists. Another interesting thing that we did, which is what I have suggested in the book, is to be very careful about the color of money.

The issue is not money; the issue is choosing the investor right, because it has got huge downstream consequences. Is this the kind of fund that we should be taking money from? Will we be comfortable sitting around the table? Do these people look like they really, really have a long view of time?

So, independent of the valuation, the first thing you want to look at is culture match. Second, you want to ask: Will these people, apart from just putting money on the table, will they add any significant value in the management process?

Are these the people that will actually help us to build the steps of governance through which the company can become high performance some day? So we did all that homework and then finally we zeroed in on two venture capitalists, one in India and one in the U.

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You have to focus on the fundamentals. You have to do your homework right. And you need to ask yourselves the deep questions that the VCs expect you to ask before you go to the VCs.

Once you do that … it is not ideas that are chasing resources; it is resources that are chasing ideas. In the Indian context, especially, a lot of companies may not face this situation of going to a VC, because they either have family wealth, or they are owned or controlled by business families.

Do you think that kind of a structure is conducive to the development of high-performance entrepreneurship? Bagchi: Yes and no. One is that the fact that you basically have the power of inheritance. It gives several advantages: You are not answerable; you are able to get off the ground quickly and so forth. But that also innovates many things including others, it innovates a spirit of shared wealth creation, and it also is something that brings along high-control orientation.

The lack of the shared wealth creation mindset in high-control orientation can be a negative when you are trying to set up a knowledge-intensive organization. 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. While his helicopter was flying over huts, he found cable-television antennae on top of these huts. But here is a country where a billion people could fly.

If you cease to be problem-forward in your orientation, you will see opportunities everywhere. So, here is a man who is seeing a billion poor people. No, he is not seeing a billion poor people.

High-Performance Entrepreneur

He is seeing a billion people who can fly. Captain Gopinath was actually at Wharton, and he told this story in his own words to the listeners of Knowledge Wharton podcasts. But coming back to the idea of being an entrepreneur — one of the toughest challenges for an entrepreneur has to be coming up with a startup team. Any thoughts on how you select the best startup team once you have decided you want to be an entrepreneur?

Bagchi: You know, when we look at a startup team, we have to look at it on two levels. One is the core team, and then the larger startup team. When one looks at the core team that is co-opting for other people who are founders, along with the entrepreneur himself or herself, I think three or four things are very critical. First and foremost, what is very critical, extremely critical, is a shared view of the future and a shared vision of the future. Many times it is taken for granted when friends jump into entrepreneurship.

Just because you are close friends, you think you have a shared vision.

Subroto Bagchi

What is in it for us, individually and collectively? So that is very important. Number two, and the next important and very critical thing, is complementarity. If there are two friends who are trying to do business together and both of them are extremely good at the same thing, they probably should not be doing business together.

So, the startup team must have a high degree of complementarity. If somebody is good in marketing, the other person had better be complementary in terms of finance or in terms of, let us say, delivery or in terms of managing people. When that complementarity does not exist, that is the first signal to step back and probably bring in that talent.

Pdf high performance entrepreneur

Sometimes entrepreneurs hesitate to do that. In a high-performance entrepreneurship, mental insecurity does not exist. The control orientation is less. And do it early on, so that you guarantee an enormous amount of success right up front.

So, look for complementarity. I think the third element that is very critical is mutual trust. I always say, if you look at the 10 co-founders of MindTree, we come from three different national origins. We come from three different professional backgrounds. Some of the founders had never met each other physically before we started the company. But if you look at my own personal domestic issues — if tomorrow I am not there and I need things to be handled, you know, [for example] I need my daughters to be taken care of, I can just blindly trust these other nine co-founders.

That trust is very important, because trust, in my opinion, is not a warm and fuzzy thing. Trust is something that reduces cycle time. The other important reason why trust is critical is that the high-performance entrepreneurship is like running a marathon. When that pain — the inevitability of that pain comes in — unless you really trust each other with your lives, that is where things will fall apart. Interestingly, a study indicates that globally, most startups fail within the first year of their coming into existence, not for technical reasons, not for managerial reasons, but they fail because the founding team goes different ways.

When the trust is there, then you will not second-guess intentions. When you make mistakes, there will be no blame. When you have the trust, you know that the other person is doing his or her best under the circumstances.

Collectively you bounce back, you learn. So in summary, I think it is very critical to look for shared vision, look for complementarity, and look for abiding trust. What was your own experience like raising money from venture capitalists? Bagchi: You know, I have a slightly different view on this, and my view is that people think that raising funds is the most difficult thing and put a lot of energy behind it. The resources are chasing ideas. If you look at the example of MindTree, we raised money from two continents, from venture capitalists in the United States and venture capitalists in India.

They could be American institutional investors, they could be British, they could be Japanese, and they could be anywhere. So investment today is available if the idea is right, cross-border.

Entrepreneurs put in enormous amount of effort in trying to chase money instead of refining the concept, instead of focusing on the market research, instead of trying to test market the idea. I would say that we lived that — it took us about a year to refine the concept of the company.