Entrepreneurial emotion

"A Tamil Brahmin boy went to his parent and told him: ‘Father, I want to open a coffee shop on the Trichy-Madurai highway.’ ‘What!’ exclaimed the astounded father. ‘Do your MSc and PhD and do not open a coffee shop.’ A Marwari lad told his father he wanted to open a coffee shop business. ‘Certainly, my boy,’ his father replied. ‘Expand it, turn it into a five-star hotel and compete with the Taj!’”

R. Gopalakrishnan, executive director of Tata Sons Limited, narrated this story in the course of his keynote address on "Entrepreneurship” at the seventh AGM (annual general meeting) of the World Zarathushti Chamber of Commerce-India (WZCCI) and that of its Bombay chapter at the West End Hotel on September 25, 2010. "Entrepreneurship is not just what you do or did but how you think. It is like a Divali sparkler — it lights other things,” Gopalakrishnan observed.

On the dais with Gopalakrishnan during his address were Minoo Shroff and Cyrus Bagwadia, the incoming presidents respectively of the international board of the World Zarathushti Chamber of Commerce (WZCC) and the WZCCI. "The WZCC stands for self-reliance in business and profession. We are not only for entrepreneurship but for all professional endeavors,” Shroff stated, adding that India’s emerging economy offers enormous possibilities. "But you will never win if you don’t begin. There is a diffidence to launch out on one’s own, to give up the obvious benefits of a lucrative job for uncertainty and possible failure. Parsis arouse trust and confidence. What bogs them down is managing labor.” The first few years would be difficult for any endeavor, even for doctors and lawyers, he noted, citing the examples of eminently successful professionals like Fali Nariman and Nani Palkhivala, who in the early years shared tables and sweated it out to build their careers. Daring, energy, tenacity and perseverance are the sine qua non of success, the senior management man advised.

Farrokh Rustomji, honorary secretary of the India Chamber, presented the WZCCI’s annual report for the year ended March 31, 2010. Felicitating Shroff on his appointment as international president, Rustomji informed members that Minoo Mody, Yazdi Tantra and himself were also elected directors on the international board. WZCC International had presented its annual awards last year to Homai Daruwalla as Outstanding Zarathushti Professional, Umeed Kothavala as Outstanding Zarathushti Entrepreneur (both from India) and Firdosh Bhesania of USA as Outstanding Young Zarathushti Entrepreneur/Professional. Nusli Wadia, chairman of the Bombay Dyeing group of companies, was awarded the honorary membership of the WZCC for the year 2009, Rustomji highlighted the year’s star events.

At the WZCC AGM, from left (top) Yazdi Tantra, Philly Kharas, Minoo Shroff, R. Gopalakrishnan, Cyrus Bagwadia and Nahid Elavia; (second row) Kersi Commissariat, Bagwadia, Shroff, Farrokh Rustomji, Dadi Mistry and Adi Engineer; Freyaz Shroff greets Minoo Shroff; (3rd row) Happy Youth Wing members and (right) Hosi Charna, Dolly Dhamodiwala, Kharas (below) R. Gopalakrishnan

Rustomji informed members that besides Bagwadia, former regional director of Dupont and ex chief executive officer of Essel Propack, other directors on the India board elected last year are Dinshaw Mehta, chairman of the Bombay Parsi Punchayet, and Nowroze J. N. Vazifdar, senior executive and corporate consultant who is an expert in structuring foreign collaborations. The terms of office of the founding directors — Shroff, Kersi Commissariat, Kersi Limathwala, Dadi Mistry and Rustomji — come to an end on completion of six years. Prof Faredoon Kapadia, elected in 2007, also completes his term of office, Rustomji noted. Adi Cooper, Zeree Jehangirji, Keki Elavia and Edul Jal Cassad were declared elected to the WZCCI board.

Commissariat, who is the honorary treasurer, presented for the sixth consecutive year the audited accounts. "The India Chamber is an umbrella body, not having an income of its own. It depends on contributions made by the various chapters,” he stated. The financial position is comfortable, he declared, pointing out however that the support received from patrons and vice patrons in its earlier years had more or less dried up. "We must look for more patrons,” he said. "The call of the day is also to enroll more members.”

"The India Chamber currently has four chapters under it — Bombay, Poona, Ahmedabad and Delhi. The first two are very active… their chapter heads Philly Kharas and Adi Engineer are truly pioneers and I salute their entrepreneurship,” declared Bagwadia. "Each chapter, wherever it is located, whether Vancouver, Singapore or Ahmedabad, has its own unique character. In one there are more professionals, like in Singapore, and in another more businessmen, like in Ahmedabad. Therefore I would encourage each chapter to write its three to five-year vision and then organize programs/activities which will help achieve this vision. My team will stop imposing the Bombay mindset… (and) support nascent or embryonic chapters to cull their own ground and start to flourish.” In the next three years, Bagwadia promised, members would see thriving and bubbling Ahmedabad and Delhi chapters as well as the addition of two new chapters, perhaps Surat and Secunderabad. Being small in numbers should not prove an obstacle. "Would you not agree with me that even 20 families can get together and lend a helping hand to a young lad who aspires to start on his own?” he queried.

The WZCC’s Business Plan Contest last year had provided a road map and "as a result of our efforts I am happy to announce that three men and two women have taken off on their path to become business people,” Bagwadia said. If one can be trained to become a lawyer or a salesman, one can also be trained to become a successful entrepreneur, he added. This year’s Entrepreneur Development Program is a further step in that direction.

A new initiative of the Bombay chapter was the launch of the Youth Wing in February 2010 under the stewardship of Freyaz Shroff, a corporate trainer. The upper age limit for youth is pegged at 40 years. A few members of the Youth Wing made brief personal presentations of their aims and aspirations, seeking to ignite a new generation of significant stories the youthful way, via Facebook, LinkedIn etc. "You must be the change you wish to see in the world,” Freyaz emphasized, quoting Mahatma Gandhi’s words. "The Youth Wing has done a commendable job. They are an energetic and enthusiastic lot. We will do all we can to maintain their motivation at a high level,” Kharas stated. "The Bombay chapter will set performance standards for members and for each activity. There will be no daydreaming.” A multi-pronged approach will target youth, small business enterprises as well as senior management personnel and retired professionals who can be a bank of potential advisors. Kharas and Feroze Sethna will continue on the committee, which will have five members from the Youth Wing, and Adi Siganporia as vice chairman.

"It takes three hours to travel from Gurgaon to Delhi, unless of course you are travelling at six in the morning or at midnight. The spreading out of residential colonies has made travel difficult,” said Delhi’s Dadi Mistry, acquainting people with the perils of organizing business meets in a community which has around 700 members and only seven entrepreneurs! "We have tried to remedy this (situation) by holding mixed events. We require good speakers who can speak on a wide range of issues. As of now we have kept dinners subsidized and membership free to attract more persons to our meetings,” wrote Delhi’s honorary secretary Veera Mavalwala in her report submitted to the WZCCI. Mistry offered accommodation at the Delhi Dharam­shala, courtesy the Delhi Parsi Anjuman, for meets that could combine business and pleasure. He would also be "personally happy to help” in liaising with government organizations and ministries in the national capital.

"I have the unenviable task of being at the end of a string of speakers,” quipped Engineer. The monthly meetings in Poona are more like working meetings, the formal meetings being held quarterly, he explained. With the Poona community largely into business, there is a greater zone of interest. "Our functions are mainly self-contributing. I don’t like tapping people on the shoulder to say we need funds…” Two Poona members were nominated for interaction on Youth Wing activities. "We are also pleased that at the all-India Business Plan Contest, the first two prizes were bagged by younger members of the Poona chapter and we continue to lend them mentoring support as needed,” Engineer stated.

The meeting concluded with Gopalakrishnan leading a lively interactive session by asking established entrepreneurs, who had already done the heavy lifting, to narrate stories of their lives. Tantra, Kharas, Jehangirji and others spoke of the agony and ecstasy of entrepreneurship; nascent entrepreneur Nahid Elavia and doughnut maker Farokh Irani shared personal experiences. Bubbly Nainaz Shroff, into the business of fine wines and spirits, briefly related her rollercoaster ride from young student in London to emerging businesswoman — making special wines structured to be enjoyed with spicy food in a hot country, capturing orders from the Indian army, venturing into acres of wine plantations in Africa... "There must be a stretch between ambition and resources,” Gopalakrishnan quoted management guru C. K. Prahalad. "Only passion will get you through.”