"You don't have to be a millionaire to support the causes you care about." This was what Amy Pirozzolo, head of donor engagement at Fidelity Charitable, had to say about charity during the Christmas season. In the USA, a recent survey by Fidelity Charitable found that 54 percent of parents believed starting a family increased the priority of “giving” in their lives, with 82 percent of those parents saying that children had an influential impact on the types or numbers of organizations they support.

I do not think the Indian results will be any different.

As I look through the internet, the recent trend shows a shift in belief. Many of the new generation think that Christmas should shift its focus from extravagant gifting to having more emphasis on charity. In a world brimming with materialism, this is a welcome trend. Redirecting the spirit of Christmas towards acts of kindness and generosity would foster a greater sense of community in the younger generations and might balance a few of the negative effects of digital addiction, which isolates them to some extent from the community. Instead of excessive spending on gifts, redirecting resources into charitable endeavors allows us to address pressing societal issues. The culture of giving will help make a meaningful impact on the lives of the less fortunate.

I strongly believe that sharing with the underprivileged of society should be recognized as the true measure of wealth. True prosperity lies not in amassing material possessions but in uplifting others. Generosity towards those in need reflects a richness of spirit that rises beyond its monetary value. In a society that often equates wealth with opulence, redefining affluence as the capacity to make a positive contribution to the lives of others will be a powerful paradigm shift. 

While we still have much to traverse on this path, the Millennials and Gen Z are showing us the way. We can learn a lot from them, and I have no shame in admitting that compassion is one of the top items on the list.

Being wealthy extends beyond the confines of a fat bank balance. It encompasses the richness of experiences, relationships, and the positive influence one can exert on the world. A truly wealthy individual contributes to the well-being of others, recognizing that the true essence of wealth lies in shared prosperity. 

This is how we can redefine our understanding of affluence and cultivate a more compassionate and fulfilling holiday season.



 



 

 


As YouTube became popular, leaders and coaches started their channels. The obvious question that comes to mind is why people purchase tickets to watch them deliver similar content physically. 

The answer is easy. It is the company of the speakers that adds value to the words they speak. Secondly, the event also has a similar-minded audience who derive value from each other by reflecting thoughts.

Staying in good company and having effective leaders around you can significantly impact various aspects of your life. One of the primary benefits is the positive influence on mental and emotional well-being. Being around people who exude optimism, support, and encouragement can create a constructive environment that cannot be derived from digital media.

Good company is essential for personal and career development in a professional context. Constructive peer relationships and collaborations with like-minded individuals motivate each other on creativity and innovation. The conducive atmosphere for growth and success helps ideas flow more freely, and problem-solving becomes a collective effort, increasing productivity and efficiency.

Positive energy is contagious, and when we surround ourselves with those who uplift and inspire, it can profoundly affect our mindset, which, in turn, contributes to reduced stress levels, improved mood, and enhanced overall mental health.

A strong leader often provides direction, guidance, and a sense of purpose. They embody the values and principles they expect from their team members. When individuals are in the company of competent leaders to look up to, it fosters a sense of trust and confidence within the team. This trust is crucial for establishing open communication channels where team members feel comfortable expressing their ideas and concerns. 

Furthermore, staying in the company of effective leaders also provides valuable learning opportunities. Leaders, by their experience and expertise, impart knowledge and insights that contribute to the professional development of their team members. Mentorship from a seasoned leader can be instrumental in helping individuals navigate challenges, make informed decisions, and build essential skills for career advancement.

Staying in good company and under effective leadership also has positive social implications. Engaging with a community of supportive and encouraging individuals fosters a sense of belonging and shared purpose. This sense of community is essential for personal growth and contributes to a fulfilling and meaningful life.

The benefits of staying in good company are multifaceted, from improved mental well-being to enhanced professional growth and a positive social impact. The effects are much beyond the words that they say. 

 



When the BBC reported in 2019 how International Rights Advocates had sued technology firms Alphabet, Apple, Tesla, Dell and Microsoft seeking damages for the damages of the families of child miners killed or injured in the Democratic Republic of Congo, the world’s attention shifted for a moment to the terrible human conditions in which cobalt is mined.

Cobalt is used to make lithium-ion batteries—which power smartphones, laptops and electric cars, the emblems of the modern world. The International Rights Advocates said the tech companies knew of the conditions where cobalt was mined.

The US court where the suit was filed dismissed it on technical grounds.

While the DRC has “clean” cobalt mining companies, people of all ages digging for the mineral with bare hands in highly polluted environments are a part of the chain.

The case succeeded in highlighting the issue of sustainable solutions. Are these solutions only for the short term, with low regard to their long-term effect on life and the environment?

Sustainable solutions are pivotal in addressing environmental challenges, aiming to balance human development with ecological preservation. However, it's crucial to differentiate between sustainability and environmental friendliness, considering both current and future impacts. Many solutions seem like eco-friendly initiatives but can have unintended consequences.

Electric vehicles (EVs) are a clean alternative to petrol or diesel-burning transport.  But EVs run on batteries made with cobalt in the polluting conditions that exist in the DRC. The EVs are manufactured on assembly lines created using fossil fuels.  Mining can destroy habitats, degrade soil and lead to human rights abuses in mining regions.

Roads resurfaced with recycled plastic have emerged as a novel way of using waste instead of just dumping it in landfills, rivers, and oceans. But roads surfaced with recycled plastic will release microplastics into the atmosphere through wear and tear.

The life cycle of a sustainable solution has unintended negative consequences.

In the 1980s, we were told to shift from paper bags to plastic to save the trees from which paper is made. With plastic waste getting out of hand, we are now told to use paper bags.  However, the production of paper bags has an environmental footprint, primarily in terms of water usage. The pulp and paper industry is water-intensive, and the manufacturing process for paper bags can contribute to water scarcity and pollution if not managed sustainably.

Solar and wind power are highly regarded for their low carbon footprint compared with traditional fossil fuels. However, the manufacture and disposal of solar panels and wind turbines involve using materials that are not easily recyclable. Then, large wind farms or solar power arrays may hurt local ecosystems.  Balancing the benefits and drawbacks of renewable energy sources is essential for achieving a truly sustainable energy transition.

Organic farming is often considered a more environmentally friendly alternative to conventional methods that rely heavily on synthetic fertilisers and pesticides. While organic farming promotes soil health and biodiversity, it leads to lower crop yields.

There may be many more examples, but I am sure experts are looking into all these aspects. Sustainable solutions are integral to mitigating environmental challenges, but their effectiveness depends on a comprehensive understanding of their broader impacts. It is essential to navigate the complexities of sustainability, acknowledging that seemingly eco-friendly choices may have unintended consequences. Striking a balance between human needs and environmental preservation requires continuous evaluation and adaptation of our approaches.

 


 

 


A few days back, I came across a video of a panel discussion on the impact of AI. One panelist said it won’t be long before we have systems that are more intelligent than humans. But should we fear machines will take over humans and start controlling us? This panellist felt this was not a probability because intelligent people do not control others. They like to collaborate and perform as a collective. He also said that he always prefers recruiting those he finds more intelligent than himself. That way, he can have a team that performs much better than his expectations. Similarly, if machines develop as more intelligent than humans, they will not try to control but find a way of coexistence. 

Prima facie, I agreed with all that he had to say. But as I thought more about it, I felt we oversimplified the issue. If the intelligent do not try to control, are we to believe that dictators are dumb? The fact that they rose to become the top leaders of a huge population (sometimes countries) makes it a paradox. 

This got me down to introspect how we, as humans, have behaved in the past. It did not take much time to feel that most of the time, humans have been short-sighted, rejoicing in short-term solutions while ignoring the long-term impact. Foresight has often been a missing critical element in our large-scale initiatives, leading to the lack of a guiding light that could have shown us the potential pitfalls and helped pave the way for sustainable progress. 

Take, for instance, the extraction of fossil fuels for our energy needs. While providing a quick solution for energy demands, after around one-and-a-half centuries, we realise that this practice contributes significantly to climate change, habitat destruction, and pollution. The consequences of these actions are not confined to the immediate areas of extraction; they ripple across the globe, affecting ecosystems and communities far removed from the source. I am not saying that humans should have never used fossil fuel, but had we the foresight and the attitude of challenging the status quo in decision-making, it could have prompted a much earlier shift towards sustainable energy alternatives, mitigating the environmental damage caused by our dependence on finite resources.

Our actions towards natural resources become even more imperative, as exploiting these resources for short-term human convenience is steering us toward the Holocene extinction.

Moreover, our preferential treatment of certain communities has always perpetuated a cycle of harm. We always knew that when resources are disproportionately allocated to specific groups, it can create imbalances within societies. Overexploitation will always lead to dissatisfaction, and the harm inflicted on one community eventually reverberates across others, creating a cascade of negative effects.

In the long run, preferential treatment is bound to backfire, as the depletion of resources and opportunities will ultimately impact even the privileged communities. The repercussions may not be immediately apparent, but they are inevitable. 

Even when we understand the new issues, many of our policies are framed to do the opposite of what happened earlier. This shifts the balance from one side to the other, but the holistic issue persists. This can be realised if we carefully study a few sustainable solutions lauded nowadays. One example would be incineration, where waste materials are burned in the presence of oxygen at high temperatures. Without a treatment mechanism for toxic gases, ground pollution would normally be transformed into air pollution, both harmful to the ecosystem.

Foresight demands that we consider the broader consequences of our actions, recognising that what may seem advantageous in the short term can result in detrimental outcomes for all. Knee-jerk remedial actions should be avoided at all costs. 

 


 


I was watching a video of George Carlin when some of his words caught my attention.

“The planet isn’t going anywhere; we are! We’re going away!”

As mentioned in my last blog, our planet has gone through several phases of mass extinctions during which 75-95% of living creatures have vanished from the face of the Earth. Each time our planet has rebuilt itself through mutations.

While the first two, viz., Ordovician-Silurian and Devonian Extinctions, were mainly about marine species, the Permian-Triassic extinction, often called the Great Dying, is regarded as the most significant mass extinction. The event about 252 million years ago wiped out about 96% of marine species and 70% of terrestrial vertebrates. But Planet Earth did not stop. Despite the catastrophic setback, life found a way to rebound.

The Triassic-Jurassic Extinction, which happened 210 million years ago, caused the extinction of other vertebrate species on land, allowing the dinosaurs to flourish. Fast forward to the Cretaceous-Paleogene extinction approximately 66 million years ago, where a large-scale destructive event, possibly caused by an asteroid, led to the demise of dinosaurs and many other species. Planet Earth did not stop here, either.

The planet transformed the moment of crisis to pave the way for the rise of mammals and, eventually, humans.

I am going back in history to form an analogy that underscores the importance of embracing change. The demise of the outdated, like the extinction of dinosaurs, creates opportunities for newer species and their innovative approaches. Just as mammals seized the spotlight after the dinosaurs' departure, chances are that new species are waiting down the road.

While we all must agree that plugging off our digital lifestyle and business processes may be impossible if we are to believe that we have already started our journey towards the extinction of the Holocene, the only way we can stall the event is by creating an environment of relative stability and flourishing biodiversity, as that is what the Holocene epoch was supposed to establish. The Holocene spirit encourages a long-term perspective, emphasising the importance of sustainable practices in both the ecological and digital spheres.

Drawing inspiration from Planet Earth's history and staying motivated in the face of adversity involves becoming adaptable, embracing change, and fostering long-term sustainability. By recognising the parallels between historical extinctions and contemporary environmental disruptions, we can navigate uncertainties, stay motivated, and carve a path towards the ever-evolving landscape that balances the environment and the digital world.

Finding the balance is the only way to stall our goodbyes to this world. 


 


There is a perception in the industry that, unless signed and sealed, deals done during the week should never be celebrated over the weekend. Anything can happen over the weekend to put twists in the deal. Sometimes, those can also be deal-breakers!

Watching the ICC World Cup Finals, this thought kept coming. Due to the clean sweep throughout the journey, India got into the game as the clear favorite. But the final match was of a different sort. The dominance of Indian batting was curtailed by clever Australian bowlers who took advantage of the conditions and seemed to have come into the game with thorough learnings on the strengths and weaknesses of Indian players. This is reflected in how they got Surya Kumar Jadav out by enticing him with slow bouncers while keeping two at fine leg and third man. It was just a matter of time before SKY did not connect properly and got caught by the two or the wicketkeeper!

One may argue that in a tournament where every team has played against each other in the round-robin stage, having a separate knockout stage is unfair. But I will not get into that argument. The tournament rules were made and agreed upon by all teams and are not up for debate just because the ultimate result was not as per our wishes.

What amazed me the most was the temperament of the Australian team. Despite losing the first two matches, they kept faith in themselves and marched strong into the knock-out stage. They never seemed to stop believing they could win the World Cup. Apart from their skills and years of practice, this faith got them through. 

Not only in cricket but in every aspect of life, nothing is over until it is completely over. There can always be some events, some favorable twists, that will drastically change the course and bring an expected negative outcome to a positive. There will be situations when the ball just touches the edge of the bat and misses it by a whisker on the other. Call it luck, destiny, or just probability; it will keep happening and there is no reason to lose hope before the stakes are completely lost or be overconfident before the battle is completely won.

What can be the best way to describe this than the five mass extinctions our Earth has faced over the 500 million years that life has been on this planet? In each of the extinctions, 75-95% of the living creatures have been wiped off from the face of the Earth, but the very fact that we sit today debating the onset of the Holocene Extinction proves that the 5% who got saved were enough to reconstruct the entire animal and plant kingdoms. (For those unaware of the previous extinctions and the sixth one we face, I shall share more details on my next blogs).

Why, then, should we lose hope halfway down the path?


 


In one of my earlier blogs, I mentioned how the self-employed see work-life balance as very different from those in salaried roles. While self-employed professionals and entrepreneurs enjoy autonomy and are driven by passion, finding a work-life equilibrium is challenging. Though they realize the need for a personal life, for many of them, work and life intertwine, blurring the boundaries between professional and personal. 

The passion that drives them also leads to long working hours, and in this digital era of constant connectivity, the spatial boundaries of work and home have long been erased. The constant and fierce competition in the market amplifies this pressure, making it a challenge for them to disconnect from the work world. If you disagree, you may ask them if they check their smartphones when they wake up in the middle of the night!

If we look from the perspective of the family members, there are two probabilities—either they share the passion or they do not. Even in the first situation, this passion may be a double-edged sword. Sharing the vision may not take away the feeling of being neglected due to time constraints. The unpredictability of an entrepreneur's schedule may add strain, requiring adaptability and understanding from family members. How will they feel if the entrepreneur does not land up at a function, where the family members must constantly answer queries about their absence?

Matters are much worse for those who do not share the passion.

To counter these, open communication within the family is essential to understanding the demands of self-employment and finding mutually agreeable solutions. Normally, under-committing and over-delivering help in such situations.

Along similar lines, establishing clear boundaries and effective time management can help a self-employed professional schedule dedicated family time. Proper delegation of tasks may enhance efficiency, promote a healthier work-life balance, and reduce stress.

In short, I would like to say that it is a myth that self-employed professionals and entrepreneurs do not suffer from work-life balance issues. Even for them, it is a delicate balancing act between their professional and personal lives. Both entrepreneurs and their family members play pivotal roles in achieving harmony. Proper communication and delegation can pave the way for an improved work-life balance.

Is this true for all? No. Every self-employed professional or entrepreneur must find out what works for them, but neglecting personal life is not an option.



 


Continuing from my last blog, I would like to discuss a concept prevalent in the Indian work culture. We like to think that those who work for long hours are more productive than the rest. Other than travel time and logistics, discussed in my last blog, this is one of the core reasons why we have issues with work-life balance.

Many would argue that more time spent at work leads to increased output because the worker spends longer hours doing the job. This is true in many industries, particularly in manufacturing entities where longer machine timings mean delivering higher workloads. So, if it does not justify a full shift, organizations pay (or do not pay) overtime for longer work hours.

There may be others who argue that productivity decreases as hours increase at work. There is a point of diminishing returns caused by fatigue and burnout, leading to low-quality work. Moreover, long working hours may negatively affect physical and mental health, ultimately increasing absenteeism, reducing concentration, and pulling down productivity.

When individual workers put in long hours at work, they get more time to refine or learn skills and gain expertise. This can help in professions where continuous learning is crucial. But can a fatigued person function in jobs requiring creativity and sound decision-making? Tired and stressed individuals are less likely to think innovatively and make rational choices. But again, a few would argue that the extended work hours help them with opportunities for innovative thinking and problem-solving, as they have more time to ponder complex issues.

Traditionally, working long hours has been seen as a sign of dedication and commitment to one's job, especially as a desk worker. It was perceived that this dedication inspires others and creates a positive work culture. But my observation of the Gen Y career aspirants tends to say otherwise. There are several review websites where low ratings are given to companies that have a culture of working longer than standard hours. This is a debate that will not have a definite conclusion shortly.

There is no fixed rule to tie working hours to productivity. Finding the right balance is key. Some industries or individuals may function better with longer hours temporarily to meet specific goals, but that cannot be set as a rule but an exception. It is essential to recognize the potential pitfalls of allowing long working hours, and sometimes employers should step in to force a team member to take a break.

Striking the right balance is crucial for sustainable productivity and the overall well-being of the team. Or else we are risking burnout in the long term.


 



Recently, there has been a lot of discussion on the number of hours one should work per week and the associated aspects of work-life balance. It is an important topic, but I am not sure if it is worth discussing it in a generalized context.

For work-life balance, several aspects need to be considered, and almost all are personal. It is up to the individual to decide how the balance needs to be maintained. 

Let me cite a few examples.

I have seen Mumbai housewives sitting in the local trains cutting vegetables they will cook when they reach home. The world-famous Dabbawalas exist because of the long travel time involved in the Mumbai commute and the officegoers’ need for home-cooked lunches. Does that mean that they do not have a personal life? If you say that the answer is yes, I will strongly disagree. Mumbai is known for its life and spirit. If we go by the generalized inferences, how do they maintain such a lifestyle?

While I took the example of Mumbai, even in Kolkata and other metros, many people commute more than two hours each way to their workplace. 

This brings to mind a common joke I heard back in my childhood. When a father was asked how big his son had grown, he showed it horizontally. On inquiry, he said that he only saw his son lying in bed since he left for work before his son woke up and returned home after his son went to bed at night. It seemed funny then, but thinking about it deeply, it brings up a tragic story of our workforce, where a father can’t interact with his son!

In both examples, I did not bring in the perspective of actual work. It is only the commute that has made life difficult. And why do we have such a long commute? The answer lies in the state of infrastructure and the disparity in the cost of living in cities vs. that of suburbs. 

Now, coming to the time spent at work, we need to distinguish the kind of skills the person has. The culture has changed after the COVID-19 pandemic. Nowadays, white-collar jobs often have more flexibility regarding remote work, while blue-collar jobs typically require physical presence, potentially leading to less work-life balance for the latter. It is unfortunate, but in a country like India, the blue-collar worker often needs to choose between work-life balance and having a job in the first place.

This drives the discussion towards self-employment. Self-employed individuals have autonomy but often struggle to draw a clear line between work and personal life. Salaried workers have more structured hours but sometimes face long hours in the office, which affects their equilibrium. Even if there are paid overtime, monetary benefits can’t substitute personal life.

Does that mean self-employment is the way to go because even with the long hours, one does get the satisfaction that the work done is for the betterment of their company? 

Would like to hear from you before I share my perspective on this.  

 



As we enter the season of festivals across India, the debate about how the expenses made could be utilized for poverty eradication has again started. However, I feel that the festivals also greatly help the financially underprivileged.

All festivals surpass cultural and geographical boundaries when they bring people together to celebrate, reflect, and express themselves. Beyond the cultural and social significance, festivals have the power to bring a positive change in society through their contributions to poverty eradication. While the effect may not always be immediately evident, the impact of festivals is profound in alleviating poverty and improving the lives of financially deprived people. 

Almost every festival comes with economic support from the government and large corporations that serve as economic catalysts for impoverished regions. During the festival season, we witness an increase in economic activity where local businesses, vendors, and artisans benefit from sales owing to the spike in demand for goods. This leads to the creation of jobs, even if temporary, that are generally filled by the underprivileged. In fact, in many cases, festivals like Durga Puja become a source of income for those who might otherwise struggle to find employment for the rest of the year.

Since festivals often revolve around community and togetherness, they bring together people from diverse backgrounds to share their cultural heritage. This sense of brotherhood also positively impacts poverty eradication, where those struggling economically are given support through business opportunities or even direct funding. A unique example would be the Dhakis (traditional drum players) who come down from the villages during the Durga Pujas for these 5-15 days of contracts that earn them more than they could have earned in a quarter year (if not more).  

Festivals are also a fertile ground for micro-entrepreneurship. Many would seize the opportunity to start small businesses during festival seasons. Be it setting up food stalls, selling handmade crafts, or providing transportation services, these micro-entrepreneurs have the potential to earn a significant income during these festivals. Over time, these opportunities for extra income help improve their living conditions.

As mentioned earlier, the positive effects of festivals may extend beyond the festive season, leaving behind a local environment of social well-being. 


 


A government official was asked by a senior professor of a leading management college how they can contribute to the startup ecosystem. The reply came in two curt words. STAY AWAY. While the audience was split into two groups—one laughing at the promptness of the answer and the other visibly annoyed by its rudeness—the government official explained the logic behind his statement.

The professor was well respected in the leading corporations of India for his acumen and guidance in business strategy. However, corporations have a well-defined roadmap and can afford a long-term strategy for execution. Startups are nimble, often running the risk of closing down in the next quarter unless some drastic turnaround happens. Having a long-term execution plan is a luxury that many would not enjoy.

When a startup is bootstrapping, its cash flow is always strained. They will accelerate into the red if they have to employ senior professors at high consulting fees.

Most senior consultants may be extremely capable of implementing mature organisations' go-to-market or operational strategies. Only a few have experienced the adrenaline rush of getting the first order or installing a stand-alone piece of machinery in a 10X10 room. While their experience may be of great help some time down the line, it might be counterproductive during bootstrapping.

In my last blog, I ended on the note of mentorship with a promise that I would elaborate on the topic in a new blog. Mentorship is another key aspect of a startup that one has to consider through a planned approach. From my experience, I find startups more inclined towards mentors who are renowned names. The objective is more for networking rather than adding value to the business.

Before searching for a mentor, it's essential to understand the startup's goals clearly and the specific areas where guidance will be helpful. Is it product development, marketing strategy, fundraising, or something else? Knowing the needs is an excellent first step in the mentorship search.

Once the areas are identified (yes, these might be multiple), one should start creating a list of potential mentors. Making down a list is a highly critical step. The entrepreneur must maintain a balance between those with experience in the industry and the type of organisations they have worked in or mentored. Mentors who have successfully launched startups themselves are a great choice. Mapping mentors from networking events, industry conferences, and online platforms like LinkedIn can be a good idea.

Do not get overwhelmed by the mentor's profile. Founders should evaluate their expertise and review their professional background, including their previous ventures, industry experience, and achievements. It is important to consider whether their knowledge aligns with the needs and goals of the startup. Most importantly, one should be sure that the mentor can give the promised time (and more when needed).

If the prospective mentor gets agitated by the evaluation process, it is a red flag: avoid such mentors rather than have to deal with such ego later.

Entrepreneurs should never forget that the business is theirs, and the ultimate consequences of the decision rest on them.

Start the mentorship with a trial period to test the waters. During this period, the mentor and the mentees can assess whether the relationship is a good fit. If it's not working, it is better to part ways amicably.

A startup cannot afford to be at loggerheads with someone in the industry.


 



As I have been mentioning, every startup begins with a compelling vision and the unwavering passion of its founders. Vision and passion help deal with initial roadblocks, pushing the entrepreneur to find solutions to issues that may otherwise seem insurmountable.

But while passion might help us persevere and keep us motivated, it may not be enough to run a business successfully. For that, we need to connect with the external ecosystem, investors, bankers, mentors, and customers. And for them, their priority may lie elsewhere!

From my experience, normally, every external stakeholder looks at a startup and wonders about the unique problem it is solving. They are always looking for the genuine pain point or unmet need in the market that provides the foundation on which the startup has built its solutions. The more acute the problem and the more effective the solution, the greater the potential for success. That’s not to say that a startup cannot offer an existing solution; it needs something unique. Or else why will the stakeholders find any interest in a story they already know?

Once the solution is established, the next factor that helps the startup is to get market feedback. Achieving the right product-market fit is extremely important. If the solution does not resonate with the target audience, we can safely assume the future will be in the doldrums. For this, in-depth market research is indispensable. Thorough research helps startups fine-tune their product or service, tailor their marketing strategies, and make informed decisions. Startups must be agile and make course corrections if the market research calls for it.

Timing plays an important role in every solution the startup brings to market. Entering the market either too early or too late may decrease the chance of success. Several business solutions have failed in the past but come back to be a major hit. There are examples from the other side as well. The fact is that markets evolve, and customer needs shift. Those that can pivot easily have a higher chance of success. Startups should aim to launch only when they have a data-driven inference of a clear demand for their offering.

Ultimately, the rubber needs to meet the road. A brilliant idea is meaningless without proper execution. Startups may have a clear roadmap and planned achievable milestones, but they still need to execute the plans meticulously. For this, having the right team and mentors is critical.

This brings up another important factor that needs elaboration. I shall try to address it in my next blog.

 


While discussing startups, I can’t help but wonder why 90% of them fail in the first five years. What are the factors responsible for such a high rate of failure? 

Before we get into the details, let us try to understand how startups get formed. In my experience, broadly, there are two main triggers for startups. 

1) When the founders have a unique idea that they want to develop it as a business and nurture it to success. The founders could have worked in an organization for years and gained confidence that their idea was viable. They can also be as fresh as students driven by the passion of building something and becoming entrepreneurs to fulfill their dreams. In both cases, we can assume that the founders are driven by a desire and passion to make the startup successful.

2) These are situations when an individual has to quit his job because of some compulsion, like downsizing, etc. As the market is not very conducive to new job opportunities, the person initiates a plan for a startup, primarily driven by the need to stay busy or the grand picture that has been painted of the startup ecosystem. There is hardly any planning or long-term research for these individuals before the startup is formed. The startups often voluntarily close down \when the founder gets a lucrative job offer.

There may be other situations that might initiate a startup business, but I thought these two scenarios are worth mentioning. 

As in every business, several key factors influence the success of startups, but one aspect is non-negotiable. That is the passion of the founder/s.

If we look into the stories of successful startups, we will find that each journey has begun with a compelling vision and the unwavering passion of its founders. It is that vision that guides the company’s direction. Driven by the passion of taking the solution to the market, the founders have a deep understanding of the problem they are solving and a clear picture of the value they will bring to their customers.

The founder’s passion drives the dedication of both the team and investors. Unless extremely fortunate to have a smooth sailing ship, the perseverance of the founder helps the entire team to stay motivated during the tough times, pushing themselves to overcome obstacles that might otherwise seem insurmountable.

On the flip side, sometimes the passion might get uncontrollable and push the founders to make decisions that may be detrimental to the business. For example, too much attachment towards a particular plan might restrict course corrections required for the changing market scenario or owing to the new learnings gathered during the journey.

As I plan to discuss other success factors for startups in my next blog, I strongly feel that passion is the biggest of them all. However, while many might have overwhelming passion, the key is to keep it under control and use it only for rational decision-making.

 


 


In the last couple of blogs, we have discussed innovation's importance in the startup ecosystem. While most startups introduce innovative products and services, a startup doesn't need to be driven by innovation. Several other factors may drive growth and make a startup successful.

Having discussed the importance of innovation and the prospect of startups flourishing without innovative products or services, I want to emphasize that the key lies in finding the right balance. Startups should evaluate their unique propositions, target market conditions, and business growth strategies to determine the role innovation should play in their business.

For this, every startup business must conduct thorough market research to understand the target audience's needs and preferences and identify gaps they can address. Most of the time, customers are not as much looking for innovation as they prefer reliability, affordability, or convenience.

Another important aspect that needs to be considered before a startup goes down the innovation path is the available resource pool. True innovation may be resource-intensive, requiring niche skills at a high cost. Startups with limited capital may need to focus on more cost-effective strategies before investing in resource-dependent innovations.

By its very definition, innovation often carries a high-risk quotient. Had it been easy and reliable, there is no reason why others have not done it earlier. Hence, before introducing innovation, the startup must evaluate its risk threshold and tolerance. Resources may be required to manage the new vulnerabilities unfolding by injecting an innovative solution. A proper cost-benefit analysis needs to be done before accepting the plan.

Lastly, remember that you are in business for the long haul. Everything does not need to be done overnight. If your startup has a long-term vision, starting with incremental innovation or adaptation is more judicious. More significant innovations can always be introduced at a later stage, as resources and opportunities evolve or you have enough funding support to increase your risk appetite.

Purpose-driven innovation is a valuable tool for any startup business to differentiate itself from competitors, disrupt industries, attract investors, and stay ahead in a rapidly changing world. But, what's crucial is that the startup focuses on its strengths, weaknesses, and the opportunities and threats in its specific business. 

Let the business drive innovation, not vice versa.


 


In the last blog, we discussed the recent trend of the thought that one needs innovation to launch a startup business. Contrary to popular impression, your startup business doesn’t have to be driven by innovation. If you look up the definition of a startup business, you will find it is ‘a company which is in its initial stages of operation’. Startups may be founded by one or more entrepreneurs who want to develop a product or service for which they believe there is demand. This tends to drive the impression that the product or service has to be unique, but that is not always the case.

Let us discuss a few scenarios here:

There may be cases where a startup business improves existing products or services, making them more efficient, user-friendly, or cost-effective. Their strategic focus may be primarily on excellence in execution rather than innovation in design or development. These incremental efficiency drivers find success by refining what already exists.

There may be limited room for innovative businesses to grow in certain niche markets. Many challenges may restrict them from optimizing their offerings for other markets. Startups can build off these innovations by optimizing the product/service to the specialized needs or demographics without necessarily inventing something new. They can identify gaps in the local market and provide solutions without introducing entirely new concepts. These startups will excel by understanding customer pain points and delivering solutions that meet those needs effectively.

Then we have the factor of the right timing. For any business, timing plays a critical role in its success. Sometimes, a startup might introduce a groundbreaking innovation, but it enters the market at a time that is not apt or is ahead of market readiness. While these startups might have failed, other startups might pick up these solutions at an opportune time and have great success. For example, the recent trend of video-based content creation has boosted video editing apps, many of which were already available for years but did not get their desired popularity. Another recently launched app might have had much better success.

Last, I would like to discuss the factor of cost. Startups providing cost-effective solutions have a critical edge even without introducing groundbreaking innovation. It can be simple access to sourcing raw materials or labor costs that can lead to cost efficiency and drive the startup’s growth.

Even the most innovative idea can falter without strong execution and strategic planning. Startups that can execute well, manage resources effectively, and create a robust business model can succeed without relying solely on innovation.


 


Innovation and startups have become almost synonymous. Most of the time, it is because the new businesses tend to come up with a potential of being disruptive and hence get an advantage over the competition in the market. While innovation holds a special place in the startup ecosystem, I often come across the question of whether innovation is a necessary component of a startup business or whether a startup can grow through other strategies. 

In this blog, let us explore the significance of innovation in the startup landscape.

First, let us define what innovation is. Wikipedia cites a survey that tried to crystallize a multidisciplinary definition of innovation and came up with the following:

"Innovation is the multi-stage process whereby organizations transform ideas into new/improved products, services or processes, to advance, compete and differentiate themselves successfully in their marketplace."

Innovation is common for startup businesses because of several reasons.

In mature and crowded markets, innovation provides a unique selling proposition. It helps the new business stand out with a product or service distinct from the competitors. 

Several success stories, such as Airbnb, Uber, etc., have disrupted the existing industries or created entirely new ones through innovation. They have been examples of aspiring entrepreneurs who drive their businesses through similar engines of disruption. Hence, they are all hinged on innovative business models and technologies.

We must also acknowledge that the changes we see in our lifestyle follow an exponential curve. To keep it, we see that the business landscape is also constantly evolving. Startups find it necessary to be agile and adaptable to respond to changing market conditions, consumer preferences, and technological advancements. Innovation equips them with the tools to pivot and adjust their strategies when necessary.

We also find that investors are more likely to back startups that demonstrate a commitment to innovation. They see innovation as potential exponential growth and profitability. However, others feel that not all innovative startups have a positive outcome, taking the investors down. We may discuss this in a subsequent blog.

Even with all the above reasons, many have a drastically different opinion. In their view, startups can also flourish without having innovation as their topmost priority. Many startups have identified gaps in the market and provide solutions without introducing entirely new concepts. All they have done is understand the customer pain points and deliver solutions that meet those needs effectively, even if those solutions are traditional. Similarly, concepts from across the world may be localized to suit the Indian consumer mindset and dynamics. There may also be examples where innovative startups have failed because they were ahead of time and could not get the consumer's mindshare. Picking up those ideas again later, when the time is apt, may also be a good strategy for a startup.

In the subsequent blog, let us discuss how aspiring entrepreneurs can have a startup without a disruptive and innovative idea.


 


Over the last few years, we are witnessing a new trend in the business landscape. From the practice of large-scale manufacturing and service, we find that the trend has moved to “point solutions” fueled by startup ecosystems. 

Though a startup business should ideally mean any company launched recently, the definition has colloquially changed to a specific type of business. Of the various definitions of startup companies, the best one I like is ‘startups are young companies founded to develop a unique product or service, bring it to market, and make it irresistible and irreplaceable for customers’.

The innovative and dynamic environments created in these startups are the breeding grounds for novel ideas, disruptive technologies, and unprecedented economic growth. They are rewriting the rules of business and framing their drivers and benefits, thus posing major challenges to their larger counterparts.

In my opinion, several interconnected factors have facilitated this meteorically growing startup ecosystem. First, the digital revolution has eased our access to information, enabling aspiring entrepreneurs to acquire knowledge, learn from the success stories of others, and collaborate across borders with ease. Next, the decreasing cost of technology has lowered the entry barriers, allowing startups to bring innovative ideas to life without needing significant capital investment. Additionally, the availability of venture capital and angel funding investors has provided essential financial backing to promising startups, further fostering a conducive environment for growth. Additionally, government departments, corporate entities, and premium institutes have set up incubation centers providing mentorship and shared infrastructure for a launch that is not restricted to the capital invested.

As we welcome this trend, we must also be aware of the flip side. The obvious question that arises in the skeptical mind is the success rate of such startups. Before we even jump to discussions on profitability, how many of them even get to the phase where they can go to market with their product/service? What are the key factors that make the startups fail?

Over the next few blogs, I plan to discuss the different aspects of the startup ecosystem in more detail. But till then, let us agree that this remarkable growth of the startup ecosystem is a testament to human ingenuity, innovation, and the power of collaboration. With the right blend of innovative ideas, accessible funding, and a supportive ecosystem, startups are poised to drive economic growth and job creation and introduce new solutions to life.

The rules of business and industries are getting rewritten across the globe. The world is watching as the revolution unfolds, which may change how we live, work, and run businesses.


In the last blog, we discussed the behavioral changes that we are experiencing after the pandemic. The blog has primarily taken a turn towards discussing only the negatives that have crept into society. But that does not mean that all the changes we encounter are negative. Several positives have come up in this changed world. 

The last blog discussed mental health issues arising during and after the pandemic. We should also acknowledge that we have had such issues in society for a long time. The positive change we need to acknowledge is that healthcare systems have started prioritizing mental health services, ensuring that individuals have easy access to therapy, counseling, and psychiatric support. Societal attitudes towards mental health have shown a major shift where open conversations and destigmatization efforts encourage individuals to seek help without fear of judgment. We also find a lot of avenues for education on healthy coping strategies, such as mindfulness, exercise, and creative outlets, empowering individuals to manage their stress and anxiety in healthier ways.

The pandemic crisis brought in a heightened sense of unity and community support as people rallied to help one another. Acts of kindness, such as delivering groceries to checking in on vulnerable neighbors, started during the lockdown and have become commonplace even after it was lifted. This renewed focus on mutual support helped us combat isolation and strengthened the social fabric of neighborhoods and societies.

During the lockdowns, we witnessed reduced industrial activity and travel, resulting in noticeable environmental improvements. People experienced clearer skies, cleaner waterways, and lower pollution overall. The heightened environmental awareness prompted many to adopt more sustainable habits, such as reduced energy consumption, recycling, and supporting eco-friendly practices. From the organization management perspective, we started challenging the status quo and brought in improvement opportunities. For example, phone conference calls have transformed into video sessions, bringing in more trust between the attendees.

When we talk of quality of life, the pandemic forced individuals to reevaluate their priorities and question the pursuit of materialism. Many found solace in spending quality time with their family, pursuing hobbies, and focusing on inner growth. This shift from a materialistic mindset to one emphasizing experiences and relationships can lead to more fulfilling lives. The impact of public policies on daily lives prompted many individuals to engage in civic activism and advocacy. People became more informed about public health, social justice, and economic disparities, advocating for change and contributing to more inclusive societies.

As in every era of the changing world, we witness both the good and the bad. As we mature, we will employ counter mechanisms for the bad and build on the good.


 



During the pandemic, as we tried to cope with the lockdowns, social and physical isolation, and the uncertainties of the future, we saw the emergence of behavioral disorders in many around us. In the post-pandemic world, mental health has become a concerning reality. The abrupt shift in lifestyle, coupled with heightened stressors, has contributed to a surge in behavioral disorders, shedding light on the need for understanding, support, and intervention.

The prolonged and heightened levels of anxiety during the pandemic, health-related uncertainties, and economic hardships have created a fertile ground for the development of mental stress. The pervasive fear of getting the virus or losing loved ones and financial hardships has led to excessive worry, restlessness, and even avoidance behaviors. The constant bombardment of distressing news and uncertainty about the future has raised anxiety levels. Individuals predisposed to anxiety-related disorders are finding their symptoms aggravated, and new cases have started emerging among those who had previously been untouched by such concerns.

Moreover, the pandemic’s emphasis on hygiene and cleanliness has triggered obsessive-compulsive behaviors in many individuals. The excessive hand-washing, sanitizing, and fear of contamination have led to debilitating obsessions and compulsions that are disrupting our daily life. Living in a tropical climate, we often suffered from viral infections during certain seasons, even before the pandemic. While we need to treat infections with dealt with caution and proper medical care, the level of panic it is creating nowadays is a matter of concern.

The lack of social interaction during lockdowns and restricted movement for a long span after that has also given rise to a surge in depression. Human connection is a natural need, and its absence can lead to feelings of hopelessness and despair. The prolonged isolation has left many individuals, especially children, feeling disconnected from the world, exacerbating depressive symptoms. The prolonged isolation also had a pronounced impact on the elderly and individuals already grappling with mental health issues. While lack of access to support systems and increased difficulty in seeking professional help has always been a concern in our society regarding mental health, things have been made worse by non-qualified providers jumping in to serve those going through mental health issues. 

Technology has also been playing an ambiguous role of being our lifeline and a trigger. I have written several blogs on this, so I will keep it short. Excessive screen time, digital addiction, and the constant stream of negative event-related information have led to increased stress and anxiety levels. With work-from-home getting popular, boundaries between work and personal life have blurred, making it challenging to disconnect and relax.

My biggest concern is the impact it has had on children and adolescents. Abrupt school closures disrupted study routines, and limited opportunities for social interaction have impacted their psychological well-being. The sudden shift to online learning has introduced various challenges, including increasing screen time, decreasing physical activity, and creating a sense of disconnection from peers.

But do all the changes in this post-pandemic world hurt our mental well-being? Let us discuss the positive ones in the next blog. 



The Silent Pandemic – Part 3, social, pandemic, digital


In the last couple of blogs, we have discussed social media's effects and how to identify if someone is addicted to the digital world. The temptation of endless scrolling and instant gratification often pulls us away from real-world interactions and responsibilities, and we are addicted before we know it. Social media addiction, characterized by excessive and compulsive usage, can severely affect our mental and physical well-being.

The big question that stands before us is how to maintain a balance between using social media and getting hooked. As I keep repeating, I am no expert on psychological issues, but I try to make a few observations on people from different demographics. Based on them, I would like to mention a few points on managing the silent pandemic of social media addiction.

The first step towards managing any addiction is the toughest. It is that of recognizing that it exists. This self-awareness and willingness to change are the first of the subsequent steps that we need to take. We should reflect on our social media habits and be honest with the time spent online. We must seek answers to questions like: Do we reach for our phone first thing in the morning? Do we mindlessly scroll during meals or before bedtime? Do we feel anxious or upset when we can't access the internet? Understanding the patterns and triggers is essential to implementing effective changes.

If the answers to the above questions are affirmative, and we have clear intentions of changing them, we need to establish goals for social media usage. Having a clear purpose can help us stay focused and reduce aimless scrolling. Determining how much time we need to spend on social media each day and what specific activities we want to engage in will help us manage time better while not compromising on activities like connecting with friends, staying updated on news, or pursuing hobbies. The good news is that there are apps that can help us track usage and set daily limits for individual apps. The key is to stick to the limits we set.

Periodic digital detox also works wonders in such cases. Staying disconnected from social media is good for our mental health. We may designate certain days of the week (or the month) as "digital detox" periods and use this time to engage in activities that don't involve backlit screens, such as reading, exercising, outdoor games, or just spending quality time with friends and family. If digital detox is difficult to follow, we may start by designating specific areas or times when smartphones are off-limits, such as during meals, family gatherings, or before bedtime.

The important part is creating boundaries can help break the cycle of constant phone-checking and also help relish interpersonal physical interactions.

Even while using social media, we need to examine the content critically. It will help to unfollow accounts that contribute to fake news, negative emotions, or unhealthy comparisons. Following accounts that promote positivity, inspiration, knowledge, and personal growth helps align our values and enhances our overall well-being.

As I mentioned earlier, psychologists may be of greater help in serious conditions. They may apply therapy like mindfulness etc. While those are useful to learn as they have larger benefits on our mental health, I sincerely hope we do not reach that level with our social media addictions.

 


In the last blog, we discussed that social media addiction is a multifaceted issue that demands attention and action from all— individuals, communities, government, and social media platforms alike. As we get increasingly engulfed in the digital era, it is crucial to strike a balance between our virtual and real lives, ensuring that technology is a tool for positive outcomes rather than an option for addiction. By understanding the complexities of social media addiction and working together, we can create a healthier digital landscape for future generations.

In this blog, let me try and elaborate on some of the issues we face because of this rampant addiction. 

Social media addiction can impact everyone, but certain groups are more vulnerable than others. Adolescents, for example, are still trying to form their identities and face the unique challenges of peer acceptance. The relentless pursuit of online validation can take a toll on their self-worth, leading to false identity creation, cyberbullying, anxiety, and depression. First, they try to portray that they are one of the more fortunate or talented than their peers. Then when the identity is established online but not matched with reality, it might lead to unfortunate outcomes.

It is not only about mental health. The addiction can also have physical repercussions. Spending excessive hours in front of backlit screens may lead to eye strain, headaches, and disrupted sleep patterns. Moreover, it is well known that a sedentary lifestyle can result in weight gain and other health issues, aggravating the problem.

But social media is an indispensable part of our lives. How do we identify the symptoms of addiction and confirm that the activities are not out of sheer necessity? From what I have read, below are a few pointers:

Excessive Usage: Spending excessive time on social media, often neglecting daily tasks and responsibilities. Failing to complete assignments at school or work is a prime indicator.

Withdrawal: Feeling anxious, restless, or depressed when unable to access social media. Even picking up quarrels when having to do a task that keeps them away from the screen.

Preoccupation: Constantly thinking about social media, leading to reduced focus on real-world activities. Often quoting discussion threads of social media conversations with eagerness in front of a disengaged audience.

Escapism: Using social media as a way to escape from stress, loneliness, or personal issues. Readily agreeing to decisions worth opposing just to end the discussion and get back to social media.

Neglected Relationships: Prioritizing virtual connections over real-life relationships, resulting in strained interpersonal bonds. Developing personal bonds and discussing personal problems with unknown profiles without knowing their real background.

There might be more such indicators, but the ones listed above are quite common. 

But what do we do when we identify the symptoms and confirm the social media addiction? What should we do if it is for ourselves, our close associates, or even the community? 

Well, we would need another blog for that. Stay tuned, and meanwhile, keep sharing your input.

 


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