HABIL KHORAKIWALA , Founder Chairman, Wockhardt Group; Chancellor, Jamia Hamdard University, Author, Odyssey of Courage
In a business there are many dimensions of change. Apart from organic growth, firms must explore opportunities arising out of inorganic growth; as growth brings many changes and learnings. As a company, we went through four stages of transformation – survival, growing to a reasonable size, going global and lastly, getting into drug discovery. Through this journey, which spans across 50 years, I learnt few key philosophies that can make or break an entrepreneur.
SURVIVAL AND GROWING TO A REASONABLE SIZE
In early 70s, I realized that our premises in Worli were becoming increasingly restrictive in terms of space, and opportunity cost of being in Mumbai was going up. Around this time, the Maharashtra government introduced backward area development incentives and I thought shifting to Aurangabad would be a great idea. But before I could think of raising funds, I had to think of ideas to convince my father and community elders. For my father, Mumbai was his comfort zone. Naturally, he was not very excited about it and tried to dissuade me. It was a period of tremendous self doubt. I went up to him and said I wanted to die one day and not every day.
Bu hikaye Entrepreneur magazine dergisinin March 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Entrepreneur magazine dergisinin March 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Chords of Success
For Saahil Goel, the deep-rooted passion for playing the guitar dates back to his high school days. Influenced by legends like Pink Floyd, Led Zeppelin, and the Pakistani band Strings, his musical journey mirrors his leadership style-balancing focus, discipline, and a collaborative spirit. Goel feels that playing guitar has enhanced his ability to balance focus and teamwork as a founder of an eCommerce shipping start-up.
IS YOUR RENT TOO DAMN HIGH?
Many small business owners struggle with their rents. Here's what to do.
HOW TO BOUNCE BACK FROM A BAD REVIEW
A one-star review can hurt your ego - and your business. But it's possible to prevent (and remedy!) this scary scenario.
HOW TO HIRE FOR THE FUTURE
Small businesses are struggling to find quality labor. So flip the conversation: Show workers how your business will set them up for opportunity.
You Can Hire Like Netflix
The streaming platform built an incredible team with a strategy called “talent density.” But you don’t need to be a tech giant to do it.
Speedy Growth Killed My Startup
We seemed to be rocking it - lots of press, major partnerships. Then we learned the harsh consequences of overlooking our customers.
Three Pivots to $100 Million
How do you find a working business model? Do it like Rowan-a brand that reinvented itself many times before finally piercing the ear-piercing market.
What Goals Actually Matter?
Some benchmarks are more important than others so what should you really care about? We asked six founders for their hardest-won lessons.
'Only the Strongest Are Going to Survive'
Brian Lee cofounded companies like LegalZoom and ShoeDazzle-and he believes a lot of conventional business wisdom is backward. Sure, it's harder to raise capital. But it's actually cheaper than ever to start a company.
HOW TRUST SAVED KFC
The former CEO of Yum! Brands explains how he turned around a struggling KFC-and the important lesson it offers for anyone in franchising.
