Best ideas show up at the worst time

WHENEVER there's global insecurity, it's invariably the best scenario in terms of availability of opportunities. From that perspective, ET's 'Power of Ideas' campaign couldn't have been better timed as young Indians these days have precisely what it takes to grapple with the current global scene — a blend of unbridled confidence and attitude, said one of Kolkata Inc's leading lights. His words pretty much set the tone of an exclusive, inhouse panel discussion on 'Promoting Newbies: Industry as Mentor' as part of ET's landmark initiative, The Power of Ideas.
    The five participants were some of Kolkata Inc's most recognisable faces — Ambuja Realty Group chairman Harsh Neotia, Srei Infrastructure Finance CMD Hemant Kanoria, Patton Group MD Sanjay Budhia, Ambootia Tea chairman Sanjay Bansal and Speciality Restaurants CMD Anjan Chatterjee of Oh! Calcutta fame. The participants engaged Team ET in a freewheeling brainstorming session to explore ways to spot true blue business ideas and mentor them, in sync with ET's powerhouse initiative.
    If anything, the mood in ET's conference room was electric as these corporate hotshots dived into the proceedings with the natural ease and elan of master jazzmen, improvising at will but never losing sight of the leitmotif. Even as they teased and sparred with each other on every nuance of the afternoon's theme, all were in agreement on certain core issues: That business is all about acumen. That it's a critical requirement to address the mindset of youngsters to foster entrepreneurship and convince them on the importance of struggling to the top from the bottom of the barrel. That capital isn't everything for a powerful idea to blossom. That instead, it is critical for every aspiring entrepreneur to take the necessary pain to convert an idea into a working proposition.
    Finally, there was an overwhelming unanimity across the panelists that ET's pathbreaking 'The Power of Ideas' initiative had come just at the right time to banish the general feeling of gloom and doom that had hung heavy in recent months.
    Ambootia Tea chairman Sanjay Bansal said: "Today's young Indians not only have tremendous zeal, enthusiasm and confidence, they are truly global citizens who pack the right attitude to grapple with the present global challenges. I have maintained that it is always in the worst case scenarios that true entrepreneurs have come up with splendid ideas and risen to the occasion."
    Speciality Restaurants' Anjan Chatterjee was equally ecstatic. "ET's Power of Ideas initiative has literally shattered the perception that ideas can only come from CEOs or directors or the like. What this has done is democratise ideas: it sends out the message that anyone can come out with a good idea. In fact, I feel this initiative has come absolutely at the right time. It sends out positive vibes in the industry, that any economic downturn can only be changed through the power of ideas, by nurturing new ideas and providing opportunities," said Mr Chatterjee.
    Both Mr Neotia and Mr Budhia agreed that a majority of the ideas seldom work, and that it was inevitably the three or four-odd ideas that hit home in the final analysis and make for great entrepreneurs. Mr Neotia touched on yet another crucial aspect. On an entrepreneur's ability to deal with faith crisis, especially when things boiled down to taking that all important call on crossing the Rubicon, that point of no return.
    "Every entrepreneur at some point has faced a faith crisis, of whether or not to cross the Rubicon. After all, how many of us can take that leap of faith knowing fully well that if the idea does not eventually work, everything is lost. This is why the whole notion of entrepreneurship being a quick ticket to richness is a failed idea in the first place. If Anjan (Chatterjee) tasted success with eight brands, it's more likely that he tried out at least 20 before hitting home with eight," Mr Neotia said.
    Srei's Hemant Kanoria felt it was imperative for an entire team to be obsessed with an idea for it to achieve fruition. "If you believe in the power of a business idea, it is important for the entire team to get infected by it. A genuine idea should literally spread like a plague in a positive sense for it to run the full course in an organisation," he said.