It’s a jump
few attempt – from being an employee to an entrepreneur. 4Ps B&M’s pawan chabra analyses new-age Indian ‘employeepreneurs’
When Fortune documented in January 2008 how a bunch of 13 employees of Google quit their jobs to set up their individual entrepreneurship firms, the news didn’t raise many eyebrows. Well, the West always had gazillions of cases of employees turning into entrepreneurs; the surprising part now is, ‘employeepreneurs’ have just started showing up in bigger numbers closer to home too!
Drawing up on the numerological charm might have been topmost in the mind of Pramath Raj Sinha, Founder and Managing Director, 9.9 Mediaworx, when he inaugurated the company on the 9th day of September (but of course, the 9th month) last year! Not many know that Sinha was the first Dean of a business school we know famously as the Indian School of Business.
It was only after spending around 14 years in the ‘employee’ world that Sinha came out with a plan to start something on his own growing out of his own past experiences. 9.9 Mediaworx deals with research, offshoring, niche print magazines, and even television & filmed entertainment! “There are people in the industry who cannot think of a magazine less than a circulation of one lakh or cannot think of anything other than a news channel targeting mass,” opines Sinha explaining his niche focus, “There is still a lot of room to grow in the traditional and modern media in India!” And Sinha’s gone about this like clockwork, acquiring the famed Jasubhai Digital Media – a classic case of a startup acquiring a 40 year old!
If Sinha’s on a niche war-path, not far behind is Jignesh Maniar, once the Creative Director at O&M, who quit the agency to start his own venture – an advertising agency called ‘ON’ – which “doesn’t” wish to get big clients! “ON will target the mid-sized clients who are often ignored at big agencies, and the client base has a huge potential to bank upon,” confidently spouts Jignesh. But what was the killing reason to jump into the ‘employeepreneurs’ club? “The booming economy and the available opportunities made me start on my own,” divulges Jignesh.
And if you thought that the fast growing specialty eye care company EYEQ belonged to a multinational, we should share that its founder and current MD, Rajat Goel, started this chain in March 2007 after he’d quit running his 16-year mile in the global behemoth Bausch & Lomb. While working in Bausch & Lomb, Rajat knew that there was a huge opportunity in specialised eye-care, especially in the rural and semi-urban areas of India; and thus was born EYEQ. How well was the concept received in these segments? Rajat confessed to 4Ps B&M, “When I started with the venture, at one point of time, I felt that it may fail completely!” But as the most boring cliche of the business world goes, fortune favours the brave! And fortune did favour Rajat, who now “plans to open a total of 100 hospitals in the next three years with a turnover of over Rs. 200 crores!”
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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
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