Just finished reading Rashmi Bansal's book 'Stay Hungry Stay Foolish'(ISBN 978-81-904530-1-1) released during the IIMA Entrepreneuers meet organized by CIIE.
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'Stay Hungry, Stay Foolish' is the story of 25 such IIM Ahmedabad graduates who chose the rough road of entrepreneurship.
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Many of the 25 IIM-A alumni profiled in the book were present at the meet.
The book was released during the entrepreneur's meet and I am not sure if its available for sale yet. But highly recommended. The book is divided into 3 sections
- The Believers: IIM-A graduates who took the plunge straight out of IIM-A
- The Opportunists: Who saw an opportunity and capitalized on it
- The Alternate Vision: Social Entrepreneurs who cared about things beyond money
The book is written in a conversational format with the author thinking aloud before having a conversation with an entrepreneur followed by the conversation and a page of advice from the entrepreneur.
The sheer breadth of advice from entrepreneurs proves one big point, there is no consistent formula for success. There are examples and counter-examples of every strategy in the same book.
- There is no other way but to learn from one's own mistakes
- It pays to ride a wave in an upturn but then belief in one's ideas is as important to see through the trying times
- Bootstrap is good but sometimes there is no other way to scale up without a high leverage investments backed by a VC/PE fund
- Jumping straight into the rough is good but so is gaining some experience and building a nice nest egg before taking the plunge
- Its good to have equal partnerships with your co-founders but sometimes there needs to be a first amongst equals for smooth functioning
- You can plan really well and execute it with mathematical precision but sometimes the best of plans can be bested on first contact with the market
- Maintaining independence of your venture ('my baby') for long through the rough road is good but knowing when to let go even when the going is good is needed many times
- Government can be a very conservative regulator and prone to knee-jerk policy actions based on emerging events which can kill entrepreneurial ventures but sometimes they are the only ones who are willing to try out something new providing the much needed lifeline to ventures thinking ahead of their times.
- Small is beautiful but without scale the actual vision cannot be realised
- In all cases IIM-A alumni network helped a lot
Definitely a recommended read for students, as once one of my teachers at my alma mater put it succinctly 'acchi chhokri and achhi naukri is not the only goal in life for everyone'(apologies to women reading this but it applies equally well the other way around).
good job
The hungrier you stay the more foolish you remain. These are the words of the great Lennihan. These are not just words but the truth. A survey conducted across the country showed the same. Thanks for this informative post mate.
this is great
Out of all the blogs I have been reading this week, regarding the same subject, this one is actually very enlightening. Thanks you!
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Book worth to be read
Thanks for the post.I too have read this book and was influenced by it.The story of IIM showing all the faces of their life and their thinking.
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Must be an enjoyable read
Must be an enjoyable read Stay Hungry Stay Foolish by Rashmi Bansal. loved the way you wrote it. I find your review very genuine and orignal, this book is going in by "to read" list.
do what to do
In every centures have books which change the comman man into extraordinary. The book 'stay hungry ,stay foolish' ia one of them.
I need email address and contact # for the enterpreneur with pro
I need email address and contact # for the enterpreneur with prom dresses. I have given the book to someone to read and did not get back. The email addresses are at the back page of the book. It is a great inspiring book.
I was so excited to read this book.........
It is really important that we are living in the era of people like Reshmi bansal...
The title "Stay Hungry" striked my mind so much that without second thougth i bought this book.....
Even people dont need to have entrepreneurship mind to read this book.
Hats off to Reshmi Bansal......
Siva
Available here?
Tarundua, just wondering if this book is available in the States? Tried to search for it on Amazon.com but couldn't find anything. I'm thinking of getting it as a gift for a friend, who was from IIM. Thanks you so much for the synoposis...
THE BOOK
hey its the best book i have read in recent times... its a must read for dreamers like me....... gives a confidence that every goal can be achieved if u have the right kind of attitude towards it.....
good book
i bought this book 3 days back in landmark chennai. its good and recommended for budding entrepreneurs like me.
Needed Stay Hungry Stay Foolish in Hyderabad
Is this book available in any book shop in Hyderabad, I checked with crossword but everytime they are giving lame excuses like the book is out of stock and will be available from next week but the next week never comes.
My mail ID is bhatiahemjeet@gmail.com
Regards,
Hemjeet Singh Bhatia
Thanks
This really is such a good post to read. Stimulating me to read much more of your posts. Keep up the good work. Hoping to see a lot more excellent posts from you shortly.
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Stay Hungry Stay Foolish
Hi Hemjit,
The book is available in Shoppers' Stop too. Grab your copy and enjoy reading it.
its available in odessey
its available in odessey
You can get the book here
You can get the book here http://www.flipkart.com/stay-hungry-foolish-rashmi-bansal/8190453011-sthungfool
Where i can get "Stay hungry Stay foolish"?
Can anyone let me know where i can get "Stay Hungry Stay Foolish" by Rashmi Bansal.It reached market?
Regards,
Marimuthu.A
its available @ Stand book stall, Manipal centre Bangalore
available @ Stand book stall, Manipal centre Bangalore.
- Sep 21. Rs100/=
Strand Book Stall
Hey!
I found the book at Strand Book Stall in Manipal Center, Bangalore.
The Book
Hi, There
I have the books if you want it do let me know..
I need the book
I need the book
Need the book
Hi.. I am from Bangalore.. Is it possible for you to lend the book to someone in Bangalore?
My email id is kumarpal.shah@gmail.com do let me know..
Stay Hungry Stay Foolish
Can You please let me know where to get...??!
Or Give me your contact number..
Thanks and Regards,
Marimuthu.A
Thanks for sharing this
Thanks for sharing this blogs keep it up buddy
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The Book
Hi, There
I have the books if you want it do let me know..
hey i need the book ......
hey i need the book ...... can u mail me at frnd.vikas@gmail.com.
thanks
Hi
Even I am looking for one..but not available..Let me know if you can lay your hands on it.
thanks
You've got good teachers
Congrats !!
Yawn!
Why on earth everyone is after Social networking can't they come-up with better paradigm ?
Fact is India does not provide conductive environment for start-up. Name one successful start-up from India that has managed find name in India let alone rest of the world.
Indian are good at tech-support and data entry. Mind you I do mean to disrespect any talented and passionate programmers. They are after all behind success of many companies.
We have moved back to Vally after last bout with India's hopeless IT infrastructure.
Manoj
Yawn! Yawn!
"Why is everyone after social networking ?"
Its called riding the wave.
"Name one successful start-up from India that has managed find name in India let alone rest of the world."
There are a lot of startups coming out of India some successful ones which survived and flourished from the earlier dotcom era are Infoedge(naukri), People Interactive(shaadi) for instance. The book above mentions a few more startups who made it big.
"Indian are good at tech-support and data entry. Mind you I do mean to disrespect any talented and passionate programmers. They are after all behind success of many companies."
Sure indians are good at tech support, data entry and programming ? whats the point here ?
"We have moved back to Vally after last bout with India's hopeless IT infrastructure"
It is possible to find reliable Internet in India, which is sure expensive but that is more than compensated by lower living expenses in general. That sounds like an increasing trend, not so well funded companies setup shop with adequate presence of founders in India to build version 1 of their web application using brilliant but a bit naive indian hackers. In the growth phase they start hiring the so-called 'senior' valley based team in the US to build credibility as a US company. Communication issues hit the now remote Indian team as founders/newly hired sales/marketing spend more time in the US. Guess who gets axed, blaming it on infrastructure. Moral of the story with a few exceptions is as a startup its hard to divide your engineering between valley and India so choose either but not both when you grow bigger.
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