Former CEO of Infogain
Mudit: Why don’t you just share a little bit about your journey in life?
Answer: Sure. But before we go there, on a lighter note, congratulations to your team for digging up all those videos from the internet. Oh, my God, I’d forgotten some of these. And thank God. The second point is, Thank God all the predictions that I made were true. These were made about six years ago when I was trying to recall. Congratulations to your team for doing that. Now, let’s get to my journey.
As I like to say, I’m like any other person you might meet, just the next-door neighbor. That’s who I am. I started my life in Bombay, coming from a family that, unfortunately, lost most of its wealth when I was very young. I lost my dad at a young age, which had a deep impact on me and my family. We faced harsh times, and I wasn’t even sure if I was getting an education. Fortunately, I had a strong mother who served as a mentor and a driving force. She ensured that I kept progressing, and I started working at the age of 12. I worked through school and college, eventually earning my degree and an MBA. I also had the opportunity to study at Oxford for a month, learning to trade oil. Later, I joined IBM and learned about technology and technology sales.
At some point in this journey, I developed a desire to become an entrepreneur, likely influenced by my background in oil trading. I explored various business ideas, some of which, in hindsight, I see were too early or overly ambitious. For instance, in 2003, I attempted to establish a payment gateway system in India, and in 2004, I had the idea of setting up 10,000 ATMs in India. Looking back, I realized I should have opened a hospital or diagnostic center, which would have been more financially successful. Eventually, I made the bold decision to leave my high-paying job at IBM and move to the United States, believing that something magical would happen in Palo Alto for my technology endeavors.
In 2011, I took an even bigger leap by investing in a small publicly listed company in India with undifferentiated assets, which I later merged into Info Edge. Last year, we sold the company for nearly a billion dollars, achieving unicorn status. So, it’s been a rewarding journey, and I’m proud of what I’ve accomplished. But it doesn’t define me completely. I have two children, a boy and a girl, and I’m grateful for their friendship. My wife is passionate about acting and directing, and she has found her calling in the arts and charity work. We all enjoy good health, making us a happy and content family unit.
Mudit: Did you always want to do business, or do you think it just happened to you by accident? How was it?
Answer: No, certainly not. In the early stages of my career, I focused on establishing myself and seeking financial security. During my time at Accenture and IBM, I was driven by the need to succeed within a structured organization, not necessarily aiming for entrepreneurship. However, as I progressed in my career, a realization dawned on me. I thought, if I were to pass away without attempting entrepreneurship, I would feel incomplete and regretful. That’s when I knew I had to embark on this journey. This decision was driven by my inner desire rather than an accident.
In retrospect, I recognize a few key factors that shaped my path. First and foremost, the willingness to be a perpetual learner and embracing the mantra of “be a learning machine in a machine learning age.” I realized that learning and constant reinvention were essential. I was aware that I might not be the most talented, so I needed to work harder to compete with those more naturally gifted in various areas. In my journey, I have also identified some essential tools, such as the “2H 4E 2P” framework:
2H (Be Honest and Be Happy): Honesty and happiness are foundational. Honesty in your actions and happiness to maintain a positive outlook on life.
4E (Have Energy, Energize Others, Build an Edge, Learn to Execute): Energy is crucial; both having it and inspiring it in others. Building an edge, a unique skill or approach, is necessary. Lastly, learning to execute, putting ideas into action, is key.
2P (Be Passionate and Persevere): Passion fuels your journey, so focus on something you genuinely care about. Perseverance helps you push through the inevitable challenges.
In my experience, every seven to ten years, it’s a good idea to consider changing industries or roles. This pattern of reinvention allowed me to adapt and succeed in different domains. I also emphasize the importance of being adaptable and constantly reinventing oneself in a rapidly changing world.
Mudit: When you work as an employee, right, like at Accenture and IBM, it takes a different mindset. Do you feel that the same entrepreneurial mindset helped you, or was there a shift?
Answer: Working as an employee in established organizations like Accenture and IBM demanded a specific mindset. It required adhering to structures, hierarchies, and set rules. The approach was more about following processes and achieving predefined objectives. In such roles, success meant making valuable contributions within the established framework.
When transitioning to entrepreneurship, there was indeed a mindset shift. The entrepreneurial journey required a shift from being a part of a well-defined system to creating and managing your own business. It’s a move from structured environments to a realm where you need to define your path, take calculated risks, and establish your systems and processes. You become the ultimate decision-maker, and the weight of the entire enterprise rests on your shoulders.
In entrepreneurship, you need to handle various aspects of the business, from financial stability to managing a team, making strategic decisions, and adapting to market changes. It’s more about taking calculated risks, embracing uncertainty, and being resourceful.
The entrepreneurial mindset, driven by a desire to innovate, grow, and take ownership, was instrumental in making this transition successful. However, it was a learning process, and the experience of working in structured organizations certainly provided a foundation for understanding business dynamics and leadership.
In summary, the shift from being an employee to an entrepreneur involves embracing more independence, adaptability, and a willingness to take risks, all while keeping the entrepreneurial spirit alive.
Mudit: I heard you talk about reinventing yourself and the importance of being a learning machine. Can you share some of those tools that you mentioned had a role in your life?
Answer: Certainly, let me elaborate on some of the tools and principles that have played a significant role in my journey:
To Edge 42 (2H 4E 2P): 2H (Be Honest and Be
Happy): Honesty is essential, both in your actions and dealings with others. Being honest with yourself and maintaining happiness are the cornerstones of personal well-being. Being unhappy or dishonest can lead to self-destructive patterns.
4E (Have Energy, Energize Others, Build an Edge, Learn to Execute):
Have Energy: Maintaining physical and mental energy is vital. Without energy, it’s challenging to drive yourself or inspire others. Energize Others: It’s not enough to have energy; you must also motivate and energize those around you. Build an Edge: Develop a unique skill or approach that sets you apart from others. Learn to Execute: Ideas are only valuable when executed effectively. Focus on putting plans into action.
2P (Be Passionate and Persevere): Passion fuels your journey, so focus on something you genuinely care about. Perseverance helps you push through the inevitable challenges.