Let all Established Business Houses be Like ‘Kangaroos’
It was under the brilliant leadership of Ratan Tata, one of the finest visionary business leaders India has ever seen, that Tata’s business empire expanded to the global level, transcending the boundaries of the country. For Ratan Tata, new ideas and novel strategies have always been something that he kept close to his heart. Under his leadership, Tata Tea acquired Tetley and Tata Motors acquired Jaguar Land Rover. Likewise, Tata Steels’ acquisition of Corus also happened when he led the conglomerate.
Ratan Tata’s investment in over 20 startups is a model which other industrialists should consider emulating , feels entrepreneur Sudheer Babu
After stepping down from the chairmanship of Tata Group, Ratan invested a huge amount of his personal savings in over 20 startups. He carefully handpicked the startups having better prospects of succeeding while making these investments. And, this decision of him turned out to be a model worth emulating for the other leaders of the Indian business community.
If we are ready to replicate or imitate the model he has already set, the business domain of the country will witness a sea change. In this era of information technology we could go for new experiments. We will be able to nurture enterprises which have the capacity to help generate unprecedented opportunities in our businesses spheres. We can grow from the limited scope and confines of a state or a country to the global arena offering unlimited opportunities.
Any successful businessman, with good experience and sufficient capital, who is looking for new ways to invest money, can follow in Ratan Tata’s footsteps. By backing those who are in search of financial support to venture into the business world with their likely-to-succeed novel ideas, the established business personalities can also widen their business interests.
INVEST IN NOVEL IDEAS
Are you a successful business person with enough money at your disposal? If so, why can’t you invest in startups with new ideas and explore the opportunities to grow. By supporting youngsters with new ideas, established entrepreneurs can also grow their businesses to international levels.
INVEST IN INTELLIGENCE
We can invest in the intelligence of the new generation. If we utilise the resources available with established business houses intelligently, we will be able to help build a new entrepreneurial venture without much capital infusion. The lion’s share of the capital and human investment required for a new initiative can be met by deploying the resources of the established business. The most crucial incubator facility can also be provided by the business house if those at the helm of it are willing to do so.
INVEST IN BASIC FACILITIES
Often only small spaces are required to nurture new business ventures. For young entrepreneurs the biggest headache is channelling investment for infrastructure. This issue can be addressed by proper convergence of resources available with established business houses. Many business houses can easily provide resources and space required by startups without much cost. This will be a blessing for brilliant young entrepreneurs who are struggling without finances. Thus by blending the intelligence of youngsters with the resources available with established business houses, a winning combination can be easily achieved.
FIND SUCCESSFUL IDEAS
Open the doors of opportunities to the smart ones. Let them explain their ideas. Why can’t we utilise our strengths and resources to help grow ideas having prospects of success?
At times, a small office space would be sufficient for a brilliant idea to conquer the world. Thus the tie-up between the established business house and startup will become symbiotic. The question here is why should we be reluctant to invest in the intelligence of the new generation to let our business explore newer paths? Just like a Kangaroo which keeps its baby safe in its body, we can nurture and protect the budding businesses with our care and counsel. Let all established business houses be like kangaroos.
(Sudheer Babu is the Managing Director of De Valor Management Consultants (P) Ltd., Kochi.)