Brand Management


Is it possible to create the best version of your brand and insert in the people’s minds? Creating a strong brand can enhance your influence to new heights and leave a lasting impression in other people’s minds. Every brand exists in its own way but the real question is whether it says what you want it to say.

Branding is the process of creating a distinctive  brand, which differentiates the brand in the hearts and minds of the consumer thus enhancing its appeal. It positively impacts current and future purchase potential of the brand. Therefore, brand positioning results in positive brand quality. This is possible only if we our efforts at brand management are consistent, sustained and differentiated. We can follow two methods of brand management. It could either be for a general mass market audience or a niche demographic sub-group. We can also focus on a particular market so as to be regional or global in scope. This helps us evolve over time as the brand develops and matures. To make our brand a successful one, we must have a clear and specific answer for the question: “What does my brand stand for”? For this, we must ask ourselves why our brand exists, what purpose does our product serve. This question goes beyond the reasons for manufacturing and launching the brand and encompasses the existential aspect of the brand. Most of the times, brands are born and exist because they have an emotional standing over and above the functional benefits they offer. It goes higher than the economic gain. For example, a brand can exist simply because of a unique functional benefit it offers. But brands with an emotional connection are harder to copy, have a longer life span and are more effective in handling competitive forces. The entire brand experience for the consumer should be consistent and must highlight the balance between functional and emotional aspects. The brand owner must remember that functional superiority is still a critical aspect for brand success. Communication is only one of the many platforms that can be used to develop an effective positioning in the market. Every brand has a critical role to play, which includes promotions, price, packaging, customer service, retail experience and post purchase experience all of which combined is brand management.

We see that throughout the years markets have become more complex to navigate and are more fragmented. This makes creating and implementing effective brand positioning strategies more challenging. But only by facing the challenges and learning from them can we build a successful brand.

How do online grocery retailers survive with lower prices?


The most obvious answers that’ll come to anyone’s mind would be that either these companies which are hugely funded by VC’s offer huge discounts or our neighbourhood market marks it high in order to gain large margins.

Well, interestingly apart from the pricing model there is some other logic behind this.

The online grocery retailers have a large customer base as compared to our neighbourhood market. For comparison, let us consider vegetable market in Colaba v/s Big Basket’s operation in Mumbai. The population of Colaba is approximately 210,847 and the population of entire Mumbai is around 1.8 crores. So, we can say that the potential customer base is much higher for Big Basket as compared to that of Colaba market.

In simple words, selling in Colaba market is like selling 20 mangoes to 50 people and selling online in Mumbai is like selling 2000 mangoes to 5000 people, which is much easier than the former one.

And the highest risk in selling fresh vegetables is the risk of wastage. This risk pertains predominantly in case of our neighbourhood market as their customer base is smaller and unpredictable. Whereas larger the customer base grows and diversifies, this risk becomes lower which happens exactly in the case of Big Basket. And these online retailers harness technology very efficiently by using data analytics to forecast demand better. Thus, the retailers in our neighbourhood market need to price their products higher as their cost is higher due to the high risk of wastage.

Other factor that comes into play is the volume that allows online retailers to procure at cheaper wholesale prices. Thus, economies of scale also contribute to the benefit of these online players.

Thus we can conclude that even without offering discounts the online grocery retailers like Big Basket, Grofers, Amazon Now can have lower prices than that of our neighbourhood market.

(Written by Dhiraj Jadhav, First Year MMS)

Corporate governance issues in Yes Bank: Explained


On 17th September 2018, India’s banking regulator Reserve Bank of India (RBI) denied three-year term extension to Yes Bank Managing director and Chief Executive Officer Mr. Rana Kapoor due to persistent governance and compliance failure reflected in Yes Bank, highly irregular credit management practices and serious deficiencies in governance and a poor compliance culture. Earlier in June 2018, Yes Bank requested a three-year extension for Rana Kapoor till 31st August 2021, but the RBI declined the request and asked Yes Bank to make a succession plan. As per the RBI’s directive, Rana Kapoor’s tenure as the Managing Director and Chief Executive officer of Yes Bank would have ended on 31st January 2019. We will see what has led to this situation for Yes Bank and the reasons which triggered the Indian banking regulator (i.e. RBI) to take strict actions against them.

Regulatory and governance issues in Yes Bank

Yes Bank came under the central bank’s scanner over regulatory and governance issues under Mr. Rana Kapoor’s watch in 2015, when the RBI decided to conduct an asset quality review (AQR) to clean up the rising toxic loan problem in the country’s financial sector. As a result, several banks were forced to report loan divergences, i.e., the difference between the RBI’s assessment of bad loans and the one reported by the bank, in their quarterly results. At a time when most banks were struggling with rising bad loans, Yes Bank had managed to keep a check on its non-performing assets (NPAs). However, following the AQR review in 2015, RBI found out some serious issues related to loan divergence and NPAs at Yes Bank. The main observations noted by RBI in 2015 AQR review were

  1. Yes Bank consistently showed NPAs below 2%. The gross NPAs reported by the bank in FY16 were at Rs 748.98 Crores. It turned out that the NPAs identified by RBI were at Rs 4925.68 Crores.A whopping 557% higher NPA was observed during the AQR review with respect to actual reported. The Gross NPA % disclosed by Yes Bank as on March 2016 stood at 0.76%. This Gross NPA actually should have been at 5.01% as per RBI observations.
  2. RBI also observed very astounding deviation of 1166% for Net NPAs. The Net NPA % disclosed by Yes Bank was at 0.29% for Mar 2016, which according to RBI should have been 3.67%.

Basically, loan divergence is mere account jugglery and these things are not taken lightly by the regulator (i.e. RBI) when exposed. Sometimes banks extend loans to genuinely restructure a loan. At other times, it is done only to delay recognizing a problem.

RBI’s response over the regulatory and governance issues in Yes Bank

The Reserve Bank of India (RBI) and Yes Bank Ltd exchanged at least eight letters related to persistent governance and compliance failures and violations of statutory and regulatory rules at Yes Bank before RBI decided to reject a request to extend Mr. Rana Kapoor’s tenure as the managing director and chief executive officer for three years in September 2018. In at least four letters sent to Yes Bank, RBI had questioned Yes Bank on

  1. Poor compliance culture and serious violations of statutory and regulatory guidelines between 2014-15 and 2017-18
  2. Persistent governance and compliance failure

In an April 2018 letter, RBI brought to Yes Bank notice

  1. A series of serious lapses in the functioning and governance of the Yes Bank.
  2. Highly irregular credit management practices, serious deficiencies in governance and a poor compliance culture”.
  3. Proposed to re-examine the proposal for bonus/remuneration to Kapoor and consider clawback of the bonus paid to him for the years 2014-15 and 2015-16.

So finally, in the September 2018 letter, RBI declined Yes Bank’s request to grant Kapoor an extension of three years. The RBI had extended Mr. Kapoor’s term only till 31st January 2019 before which the bank has to identify a new successor to Mr.Rana Kapoor as a new head of Yes Bank.

Consequences on Yes Bank’s Rating and share price

1. Moody Rating

On 27th November 2018, Moody Investors Service downgraded Yes Bank’s ratings, citing corporate governance concerns and impact of leadership change on the bank’s growth plan.

  1. The global rating agency lowered Yes Bank’s foreign and local currency bank deposit ratings to Ba1 from Baa3.
  2. It also downgraded Yes Bank’s Baseline Credit Assessment (BCA) to Ba2 from Ba1.
  3. Moody’s also downgraded the foreign currency senior unsecured medium-term note (MTN) programme rating and senior unsecured debt rating.

2. ICARA and CARE Ratings

Troubles continued to mount for Yes Bank Ltd, with rating agencies ICRA Ltd and CARE Ratings Ltd downgraded the private-sector lender’s debt instruments.

3. Effect on Yes Banks’s share price

Yes Bank share prices plummeted following the news of rating downgraded by Moody, ICRA and CARE. Yes Bank’s share price registered their two-year low of ₹147.00 apiece on the BSE on 29th November 2018.

Bumpy road ahead for Yes Bank

As per the RBI direction, Yes Bank is now in the process of finding a successor to Mr. Kapoor and has appointed a search committee headed by former LIC and IRDAI chairman T.S. Vijayan. However, one of the members of the search committee, O.P. Bhatt, resigned citing conflict of interest. Earlier Rentala Chandrashekhar, who was appointed as the independent director in April 2018, had resigned from the board of Yes Bank in November 2018 as he was concerned and dismayed at the manner in which recent developments, especially on corporate governance, were dealt with by the Yes Bank. Also, Ashok Chawla, who was non-executive chairman of Yes Bank, resigned, saying he would not be able to devote adequate time to the Bank in the run-up to appointing a new CEO. At that time, it was speculated that his exit was triggered by his name being mentioned in the charge sheet filed by Central Bureau of Investigation (CBI) in the Aircel-Maxis case. Vasant Gujarathi, another independent director, had also resigned from Yes Bank board. Most importantly Moody’s rating action considered the resignation of members of the bank’s board.

Currently, RBI is inspecting Yes Bank’s exposure to Infrastructure Leasing and Housing Finance Ltd, Dewan Housing Finance Corp. Ltd (DHFL), Indiabulls Group and Sudhir Valia-promoted entities. The inspection is to ascertain whether there is any link between the bank and non-banking finance companies (NBFCs) in the backdrop of the IL&FS crisis.

So it will be a challenging task for Yes Bank to find the successor before 1st Feb 2019.

Social Entrepreneurs and how they change the world?


Social entrepreneurs are society’s change agents; creators of innovations that disrupt the status quo and transform our world. By identifying the people and programs already bringing positive change, we empower them to extend their reach, deepen their impact and fundamentally improve society.
They range from Jim Fruchterman of Benetech, using technology to address social problems such as the reporting of human rights violations, to John Wood of Room to Read, helping underprivileged children through literacy. They include Marie Teresa Leal, whose sewing cooperative in Brazil respects the environment and fair labor practices, and Inderjit Khurana, who teaches homeless children in India at the train stations where they beg.
Such rare individuals, throughout history, have introduced solutions to seemingly intractable social problems. From Florence Nightingale to Muhammad Yunus, their paths are always imaginative and inspirational. Yunus, recipient of the 2006 Nobel Peace Prize, began offering microloans to the impoverished in Bangladesh in 1976, empowering them to become economically self-sufficient. He proved a micro-credit model that has been replicated around the world.Social entrepreneurship has gained renewed importance in a world ever more divided between haves and the have not. They distinguish themselves from other social venture players by doing, not talking. They are relentlessly focused on impact.
SOCIAL ENTREPRENEURS ARE:
• Ambitious: Social entrepreneurs tackle major social issues, from increasing the college enrollment rate of low-income students to fighting poverty. They operate in all kinds of organizations: innovative nonprofits, social- purpose ventures, and hybrid organizations that mix elements of nonprofit and for-profit organizations.
 Mission driven: Generating social value —not wealth—is the central criterion of a successful social entrepreneur. While wealth creation may be part of the process, it is not an end in itself. Promoting systemic social change is the real objective.
• Strategic: Like business entrepreneurs, social entrepreneurs see and act upon what others miss: opportunities to improve systems, create solutions and invent new approaches that create social value. And like the best business entrepreneurs, social entrepreneurs are intensely focused and hard-driving in their pursuit of a social vision.
• Resourceful: Because social entrepreneurs operate within a social context rather than the business world, they have limited access to capital and traditional market support systems. As a result, social entrepreneurs must be skilled at mobilizing human, financial and political resources.
. Results oriented: Social entrepreneurs are driven to produce measurable returns. These results transform existing realities, open up new pathways for the marginalized and disadvantaged, and unlock society’s potential to incorporate social change.

Jagriti Yatra 2k18


“Be the change you wish to be in this world”- inspired by this quote aiming to build a new India through social entrepreneurship, jagriti yatra begun!

Following the footsteps of Mahatma Gandhi, who had embarked upon the journey across India almost a century ago,  jagriti yatra begun as an ambitious 8000 km train journey spread across 15 days.

Many ideas bubble throughout the train. This year entrepreneurs cum Sydenhamites were the ones who hosted the finale of Jagriti Yatra at Sydenham Institute of Management studies, Research and Entrepreneurship Education on 15th December 2018. The Sustainable Enterprise Awards were worth 350000 as a seed funding for these ideas to bloom in to reality. We had on-board Mr. Ishteyaque Ahmed – VP Public Affairs & Communications (Coca-Cola India & South West Asia), Mr. Atul Rajbhushan – General Manager (Coca-Cola India) and Mr. Shashank Mani Tripathi – Chairman (Jagriti Yatra), Lead Strategy Analyst and Managing Partner (PWC) along with Dr.Manoj Bhide (Director of SIMSREE).
Innovation is an often messy, political, fuzzy business. Jagriti Yatra witnessed many such innovations this year. Starting with water purifiers worth 20/- which can be used on any pet bottle and give you 75% pure water, a newspaper pencil in motivation to stop wood cutting, use of straws for building homes in rural areas by startup named Strawcture, a sugarcane cutting machine and many more. All these beautiful inventions were presented in Sydenham’s management campus on 15th December.

Guest Lecture by Mr. Nimesh Mehta


Professors aren’t the only ones who shape minds in the classroom. Guest lecturers also play an important role in delivering knowledge and inspiration.

On  December 11, Mr. Nimesh Mehta, an alumnus of 2002 batch and author of Amazon international bestseller “Sales Booster” visited his alma mater after getting invited to give a guest lecture.

The guest lecture, organized by the Alumni Committee gave students unique insights about selling, goal setting and investment.

Mr. Mehta, Director & Head of sales & products at ASK Investment Managers Ltd. has more than 18 years of work experience in Sales and distribution, products, strategy and customer services. Rightly so, his lecture revolved around the selling skills and the ways to acquire them. He also elaborated on India’s golden decade. He stated that India is at a vantage point of a golden decade ahead of enormous value creation in Indian equity markets. Many major economic structural changes and reforms have occurred over last few years like Demonetization, GST which would help in cleansing individual behaviour and would eventually mend societal and business behaviour. He went on saying that on digitization front; ubiquitous cell phones, easy access to internet represents a powerful opportunity for India to digitally leapfrog. “Compounding is the eighth wonder of the world” he said, adding that now is the high time for students to start investing in equities.

Further down the lecture, he told the importance of goal setting & how it can bring fantastic results. Understanding the importance of goal setting and knowing how to set goals for yourself is crucial to accomplishing great things in your life, he added. To make the lecture more interesting, he made students do a little exercise wherein they had to write their desires on a piece of paper & think on ways to achieve them. “There are no unrealistic goals, only unrealistic timelines”, he added.

It was an inspiring lecture that was highly appreciated by the students, motivating them to strive for their future career.

HR Conclave’ 18


HR Conclave’18, the annual HR panel discussion event of SIMSREE, was conducted on 1st November, 2018, at a scale larger than ever before. HR managers from companies spanning across various sectors participated in the discussion. The discussion centred around the theme – “Future Blueprint of Human Capital” and was moderated by Mr. Aniruddha Khekale (Group HR Head, Emerson Automation Solutions). The panel consisted of some eminent speakers like Mr. Shourya Chakravarty (CHRO, Aptech), Mr. Dhruv Anand (Associate VP HR, Laqshya Media Group), Ms. Heather Saville Gupta (Group HR Director, MullenLowe Lintas Group) and Mr. Pradeep Dasan (VP & Head of Talent Acquisition, Nayara Energy) who shared their insights and presented their viewpoints on topics vital gig economy and people analytics which are relatively new to the HR domain but are changing the entire course of HR planning.

Keeping with the tradition at SIMSREE, the event started with the Saraswati Vandana, followed by an enlightening speech by Dr. Sangeeta Pandit, who laid the foundation for the panel discussion. The panel members shared some excellent views on how technology is playing the role of a facilitator and not of a disruptor, the way in which workplaces are changing and what the future holds in store for budding managers like us. The panel discussion was followed by the Q&A session where students asked apropos questions to the panel and gained further insights into the topic.

The panel discussion ended with the Director’s speech, where Dr. Manoj Bhide, applauded the Corporate Relations Committee for successfully pulling off an event of this stature and also appreciated the learning derived which will be beneficial for the students in the future.

How do Swiggy and Zomato survive?


How do food delivery companies like Swiggy, Zomato survive even after giving huge discounts to their users?

Let us first understand the revenue generation model of these companies:

  • The partnering restaurants are charged for each order they fulfill through these websites, the charges ranging from 10-30% (30% is very rare). This charge depends upon the location and popularity of the restaurant.
    For example, let us consider three restaurants X, Y, Z offering 10%, 20%, 30% commission on the business they get from the online delivery services. If 6000,5000 and 4000 is the total revenue generated by Swiggy for restaurants X, Y and Z respectively. Then the income generated for Swiggy is 600+500+1200 = 2300.
  • Income generated through delivery charges paid by the customers. Usually it ranges from Rs 10 to Rs. 30.
    Zomato receives on an average 3.5 million orders per month and considering Rs 20 as the average delivery charges per order, Zomato earns a revenue of about (3.5 million*20) 70 million rupees every month through the delivery charges paid by the customers.
  • By providing premium features like promotion of a specific item of a specific restaurant by sending app notifications, mails or text messages to the customers.
  • One upcoming model of revenue generation is by providing premium subscription to customers. By paying a fixed amount for a definite period, customers are provided with privilege services like free delivery, buy 1 get 1 free offers. Zomato provides ‘Zomato Gold’, while Swiggy has a free delivery subscription ‘Super’ in this category.

Now how are they able to give huge discounts and why do they have to?

  • As mentioned above, restaurants join the network of these companies by agreeing to pay some commission for each order.
    These companies forgo the commission to be received from the restaurants in the form of discounts offered to their customers. They do this in order to build their brand name and to capture the customers in the market hoping to have their loyalty. This strategy of building the brand name and capturing the market share helps the company in long run. How? By capturing large market share, they can earn huge profits even with lower rates of commission.
    The discounting strategy of Zomato has led to spike in the number of new users to 2.4 million in September’18 from 0.19 million in January’18.
    Discounting strategy creates high customer loyalty, hence a reasonably high amount can be spent to capture customers, as the investment recovery is apparently quick.
  • Funding from VC’s provide sufficient capital to these companies to survive in the market even without making any profits for some time (can be for few years) until they build their brand name and capture a larger part of the market.

    Zomato has raised a total funding of $ 635.8 million in 11 rounds of VC funding.
    Swiggy has raised a total funding of $ 465.5 million in 8 rounds of VC funding.

    In FY18, Zomato recorded a loss of 106 crores. So even with constant losses around this figure, Zomato can survive for about 6 years without making any profits.

  • They can also use their network and manpower build at the cost of such discounts to venture into other businesses such as logistics services, etc.

RAFALE or RoughALE DEAL?


Kitna deti hai? (What’s the mileage?) – This is the ultimate question for any Indian in the market for a transport vehicle. So, why should it be any different when the Indian government goes shopping for fighter jets?

What are Rafale Jets?

Rafale is a twin-engine medium multi-role combat aircraft, manufactured by French company Dassault Aviation. Dassault claims Rafale has ‘Omnirole’ capability to perform several actions at the same time, such as firing air-to-air missiles at a very low altitude, air-to-ground, and interceptions during the same sortie. The aircraft is fitted with an on-board oxygen generation system (OBOGS) which suppresses the need for liquid oxygen refilling or ground support for oxygen production.

What is the Rafale deal?

  • It all started in 2001, the Indian Air Force sought additional fighter jets claiming that they had a lot of heavy and big jets but did not have any medium size fighter jets.
  • In 2007, A.K. Antony, the then Defence Minister of India (UPA Government) approved the process of buying a fleet of 126 medium multi-role combat aircraft (MMRCA). They started scouting for this aircraft across the globe.
  • In 2011, Indian Air Force declared that two aircrafts were shortlisted – Rafale Ltd and Eurofighter Typhoon.
  • In 2012, Rafale was finalized and was declared as the L-1 bidder and contract negotiations began with its manufacturer Dassault Aviation which is a French company. They finalized 126 aircrafts out of which 18 were to be bought in flying condition and 108 were to be assembled in India by Hindustan Aeronautics Ltd (HAL). The total deal was said to be worth Rs.54,000 crore which is approximately Rs.435 crore per aircraft.
  • In 2014, even after 2 years of finalizing the deal contract negotiations remained incomplete due to a lack of agreement on various terms of RFP compliance and cost related issues. Transfer of Technology remained the primary issue of concern between the two sides.

Hence, there was no deal under the UPA Government. Then, the UPA government was overthrown and the Modi government (NDA) came to power.

  • On 10th April 2015, Shri Narendra Modi during his visit to France made a declaration that he would be purchasing 36 rafale jets from Dassault Aviation in a government-to-government agreement. After the announcement, questions were raised by the Opposition on how the PM finalised the deal without approval of the Cabinet Committee on Security.
  • On 23rd September 2016, India and France signed a deal for 36 rafale jets.
  • On 18th November 2016, Mr. Subhash Bhambe the then Junior Defence Minister stated in the parliament that the deal has been finalized and the approximate cost per aircraft at Rs.670 crore.
  • In February 2017, the contract deal was signed between India and a joint venture (JV) between Reliance defence and Dassault named Dassault Reliance Aerospace Ltd. (DRAL).  The agreement for 36 Rafale fighter jets was at a value of euro 7.87 billion, or about Rs 59,000 crore which is Rs.1640 crore per aircraft. The agreement also included a 50 per cent offset obligation, the largest-ever offset contract in the history of India. The main point of the offset agreement was 74 per cent of it had to be imported from India, which meant direct business worth around Rs 22,000 crore. The delivery of the fighter aircraft is expected to begin in 2019, with an annual inflation capped at 3.5 percent.

Allegations:

In November 2017, Congress alleged a ‘huge scam’ in Rafale fighter jets deal. They have been accusing massive irregularities in the deal, alleging that the government was procuring each aircraft at a cost of over Rs1,640 crore as against Rs 470 crore finalised by the UPA government. The party has also demanded answers from the government on why state-run aerospace major HAL was not involved in the deal. The party claimed that Qatar had purchased 12 Rafale fighter jets in November 2017 for USD 108.33 million per aircraft (Rs.694.80 crore). The Congress has also alleged the government was benefitting the Reliance Defence Ltd (RDL) through the deal as the company has set up a joint venture with Dassault Aviation to execute the offset obligation for the Rs.59,000 crore deal. Reliance Defence had no expertise in the fighter jets business and had never built an aircraft till date. The party also alleged Reliance Defence was formed just 12 days before the announcement of the Rafale deal by the prime minister on April 10, 2015. To make things worse on 21st September 2018, former French President Francois Hollande revealed that the choice to select Reliance Defence as the offset partner was made by the Indian government and France had no option but to go ahead with it.

Counter-Allegations:

Finance Minister Arun Jaitely claimed NDA government negotiated hard to keep the price of Rafale jets down by at least 20% per aircraft in its 2016 deal as compared with UPA government’s deal of 2007. He also accused the Congress of having seriously compromised national security by delaying the Rafale deal by over a decade and said the Congress and its President Rahul Gandhi were unaware of the Rafale deal facts. A document prepared by the ministry of defence and the Indian Air Force this year shows that the per unit price of Modi regime’s Rafales, after taking into account the cost of weapons, maintenance, simulators, repair support and technical assistance is Rs.1,646 crore while the ones negotiated for by the UPA would have come to Rs.1,705 crore. The aircrafts bought by NDA also has missiles such as the METEOR and the SCALP which were not included in the aircrafts bought by the UPA. Also, on 22nd September, Dassault Aviation the French defence manufacturing giant has refuted claims by former French President Francois Hollande and said that it was Dassault who selected Anil Dhirubhai Ambani’s Reliance Defence and not the Indian government.

How important is this deal to both India and France?

France: Rafale jets are currently being used mostly by France and also by Egypt and Qatar. Dassault is hoping that export of Rafale jets will help the company meet its revenue targets. India was the first country that agreed to buy Rafale, after it was used in Libyan airstrikes. If India inducts these jets in its military fold, other nations could express its willingness to buy Rafales. This will give a huge boost to the country’s economy.

India: India chose Dassault over its traditional partner Russia’s MiG. It also ignored U.S.’ Lockheed, at a time when India and U.S. were aiming for closer ties. Procurement of combat aircraft is long overdue for the Indian Air Force. Further delay can only make things worse. This deal is India’s biggest-ever procurement. In the effectiveness of the Rafale deal lies the future of other defence procurement.

(This artile has been written by Archit Zaveri, first-year student at SIMSREE)

A day in the life of an entrepreneur


Ever wondered how an entrepreneur manages his entire day, shuffling between meetings, employees and clients. He has to work to make things work for himself and his company. An entrepreneur’s day is more or less the same irrespective of the domain that one is working in. Entrepreneurs have to wear a lot of different hats as they progress through their day. They are known to be early risers. The first thought that most entrepreneurs have as soon as they get up is their business. They’ll be checking emails and missed calls while still laying on the bed. Once the priority emails have been replied to, they wear the hat of a family person. It’s the usual morning for them, going to the gym, spending time with the family and getting ready to start a new day at work.

On reaching the office, entrepreneurs spend the first two hours basically connecting and communicating with the world. It usually consists of replying to emails, calls with prospective clients, etc. This is followed by lunch either with the team or with prospective clients. Team lunches are means for entrepreneurs to understand the concerns of their employees. The next few hours of the afternoon are usually spent on board meetings with teams to keep up with their progress and give a direction to go further.

The evenings are lighter, consisting of walks with employees, which helps with brainstorming outside the confines of the office. Most of the creative ideas come out of these talks, as people feel less intimidated in a friendlier surrounding, and this helps them to think better. After most of the workforce has left for the day, entrepreneurs take the late evenings to deliberate on big deals that need his expert views.

Once at home, an entrepreneur is back to be a family person, having dinner with the family. However, this happens only if there are no prior dinner commitments with clients. Even if an entrepreneur might end his day with a good book or pursuing some hobby, his company would always be at the back of his mind.
Everything being said, running a company is much more than a job, and an entrepreneur’s day cannot be defined or planned.