Mindset of an entrepreneur

When I completed the book I thought about having one final chapter wity ‘learnings’. But I decided to let readers ‘find’ the messages for themselves. Or choose to simply read each chapter as a story.

Well, now a kind reader has written in with his interpretation of the ‘common factors’ which lead to success. Here goes:

Dear Rashmi,

As I was reviewing the notes I had jotted down while reading “Stay Hungry Stay Foolish”, I felt that I should drop you this note. In each chapter, I had noted down the salient points mentioned by the entrepreneur being interviewed and I compared the notes across chapters, I could see common themes running across stories.

This reminded of another interesting book I read a few years back – “Creativity” by Mihalyi Csikszentmihalyi. In this book, Mihalyi tries to discover the common elements amongst “Very Creative” people. For that he has interviewed some 85 people from various fields including science, arts, philosophy and others. It is a very well written book and does a nice job of identifying the common patterns. However, Mihalyi did not include any “Creative” people from the business field and I have always felt that this topic (i.e. a deep dive on the attributes commonly found in entrepreneurs ) needs to be addressed. Your book comes pretty close to it. I was wondering if you would consider writing a sequel, that addresses this topic. You have a considerable head-start based on the work done for Stay hungry. A book like that should be able to attract international readers as well.

By the way, I am joining IIM A’s PGPX program starting in April. Was glad to

know that you are an alumnus.

Cheers,

Vinayak Bhat

P.S. – My notes on the “Common themes” mentioned in Stay Hungry:
1. Emphasis on the passion for the chosen field and view of monetary gains as a valuable by-product
2. A mentor/God-father who believed in the entrepreneur and offered a generous helping hand at some point
3. Failure and some times a near death situation on one or more occasions. Staying power to see through difficult times
4. Strong emotional and often financial support from spouse.
5. Emphasis on choosing right partners and the need for convergence of values and attitudes amongst partners
6. Average of 6 to 8 years to stabilize
7. Ability to adapt and make mid-course corrections
8. Lot of exposure in the early stages that helped them prepare for the eventual phases
9. Long association with trusted partners
10. Luck!

About

Rashmi Bansal is a writer, entrepreneur and youth expert.She is the author of two bestselling books on entrepreneurship. ‘Stay Hungry Stay Foolish’ features the stories of 25 MBAs who left lucrative jobs to follow the rough road of entrepreneurship. The book created a new record in Indian publishing by selling over 300,000 copies and has been translated into 8 languages.

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