WZCC’s economic engine

"Don’t look to start your own enterprise just because your boss is difficult or you’re not qualified to do anything else. Starting a business is very stressful, very tough. Know yourself and be your domain expert. You had better be very good at what you do!” stated the guest of honor Cyrus Driver in his talk entitled "My journey to becoming an entrepreneur.” In a confident, concise presentation, Driver advocated entrepreneurship by choice, not chance. Betting big on people and profits, the self made businessman is now the managing director — investments of Private Equity (PE) player Arka Capital. He had earlier co-founded Calorie Care, an innovative health start-up which began operations in September 2005 with the delivery of calorie-counted meals to homes and offices. Driver was addressing the members of the World Zarathushti Chamber of Commerce — India (WZCCI) assembled at the West End Hotel on September 25, 2011 for the 8th AGM (Annual General Meeting) of the Bombay Chapter and the India Chamber. "I doff my hat to the attempts the WZCC is making,” he said.

Seeking to build the brand globally, the WZCC has released a color brochure, encapsulating its history, identity, mission and objectives. The leading lights of Zoroastrian businesses worldwide, WZCC programs and personalities are profiled to "energize the Zarathushti entrepreneurial spirit and to make WZCC the economic engine for the prosperity and well-being of our community.” "It took us nine months to get the information for this souvenir. Full credit (must go) to WZCC member Dolly Dhamodiwala,” asserted global president Minoo Shroff, who lamented that he had often heard the question "what is the WZCC?” The help given by Lara Balsara of Madison World in the preparation of the brochure was acknowledged. It was also announced that the next global AGM is scheduled to be held in Bombay on 7th and 8th January, 2012.

Attentive listeners at WZCC AGM and (below, from left) Adi Siganporia, Adi Engineer, Zeree Jehangirji, Cyrus Bagwadia, Pheroze Kharas and Edal Cassad

With the Bombay unit being among the largest and most energetic of WZCC chapters, Bombay Chapter chair Pheroze Kharas presented an overview of successes and shortcomings. "Your committee has done something more than just promote business. We have seven Youth Wing members on the committee. At the 25th Holiday Programme for Youth (HPY) in May, WZCC for the first time had a business module with Zeree Jehangirji and his team organizing two business games — marketing of soft drinks and logistics, with a Youth Wing advisor on each of the five teams. We were very encouraged by the enthusiastic response. We opened the youngsters’ eyes to what WZCC stands for,” Kharas stated. The WZCC Youth Wing also has plans in place to participate in meets organized by FOZYA (Federation of Zoroastrian Youth Associations of India). The Newsletter of the Bombay Chapter, containing management and market mantras, is posted on the WZCC website every month. Building a wider membership base, bringing in sponsors and donors, increasing investments, strengthening the Business Advisory Group… are all items on the agenda which need to be pursued more vigorously, Kharas observed. Feroze Sethna, honorary secretary of the Bombay Chapter, conducted the proceedings, enlivening routine matters with small stories. Xerxes Dastur, honorary treasurer, presented the audited accounts of the India Chamber prepared by Farhad H. Hozdar and Company, Chartered Accountants, as all chapters function under the umbrella of the India Chamber. Members were informed that Aspi M. Antia, who was earlier with Air India, has been appointed chief administrative officer.

"In the USA, the Mecca of entrepreneurship and the fountainhead of start-up companies, they will say how boring it is to join a big corporation. Here in India, the idea of leaving a job and going out on your own with 10 percent chance of success is considered pure madness,” remarked Cyrus Bagwadia, WZCCI president. "If society desires more entrepreneurs, society needs to celebrate more of these young fearless risk takers. Look at the Marwaris and Gujaratis — a young man feels respected by his community when he announces his desire to start out on his own. This is something the elders of our community need to figure out.” Bagwadia commended the "extraordinary work” put in by Kharas, "way beyond the normal activities of a chapter chair.”

"It is financially prudent to have internal generation of revenue. It is good to have donations and we appreciate the several donors who have deep pockets and great hearts. But donations may come today, not tomorrow and no organization can depend on that,” asserted Adi Siganporia, honorary secretary of the India Chamber. Many members forget to pay their membership subscription and "outstanding subscriptions are pretty huge,” he added. Once the WZCC brand is established globally, sponsorships will be more forthcoming and revenues and sources of income will start flowing, he believed.

Adi Engineer stepped down as Poona Chapter chair, having completed his term of six years. Engineer was given a standing ovation for his manifold contribution to the WZCCI and the Poona Chapter. Viraf Deboo, director, Albaj Group of Companies, took over the reins, terming it a challenge to step into "the very big shoes” of Engineer. "The community needs to engage with itself. There is a definite shortage of spirit (to serve). Let us just meet, promote fellow feeling, networking, mentoring…” Engineer exhorted.

Shroff narrated how, while on a recent visit to Mauritius for a global conference on corporate governance, he met a Parsi lady living in Mauritius. She was 50 miles away, working with a bank, yet her pride in being Parsi prompted her to drive the distance to meet a fellow Parsi. Global success stories need to be highlighted, he declared. Reading about the Hong Kong Parsis in Parsiana, he noted: "Jal Shroff is a revelation to me! Here is someone with no government protection, no BPP (Bombay Parsi Punchayet), no Tata grant! It shows the energy of Parsis to shine.”

Clockwise from top left: Minoo Shroff, Cyrus Driver, Feroze Sethna, Murad Curra­walla, Farokh Irani, Vera Saiwala and Aspi Antia

"Not shameful to fail”

"What I find negative is the sense of despondency (in the community) that I totally reject,” remarked Driver, putting forward some dos and don’ts: "I am a data driven person, a rational person. My wife Parinaz and I were 29 and 28 years old when we started Calorie Care. I had some savings of my own, so (even if the venture did not succeed) I wouldn’t have to feel guilty about uncle or father’s money. In the US it is not a shame to fail. But if you didn’t learn from failure, then it would have been a waste of money and time. Be single, or have a spouse who is very supportive, or wealthy parents! Take joy from the things that go bad and learn firefighting.” If you have worked somewhere else for experience, it’s hugely valuable, stated the entrepreneur who is an alumnus of IIT (Indian Institute of Technology), Bombay and IIM (Indian Institute of Management), Ahmedabad and has worked with J. P. Morgan Partners and PE firm Helix Investments earlier before joining up with two partners in the new India-focused PE fund called Arka Capital. Parinaz, a business graduate of Christ College, Bangalore, is now the chairperson and executive director of Calorie Care, with Cyrus remaining on the board as non-executive director. Dr Aashish Contractor, one of India’s leading experts in preventive cardiology and nutrition research, is also a non-executive director on the board, as per their website.

"My father had no son so he wanted to scale down and shut shop on retirement. I was working in Arthur Anderson with a good monthly package but I took on the mantle at Brighton Synthetics, learning hands on,” recounted Vera Saiwala who, along with Sayrus Anklesaria, won the prize for the Best Business Plan at WZCC’s EDP (Entrepreneur Development Program). Brighton Synthetics manufactures high quality narrow woven fabric (tapes), webbing, knitted cords and twine in nylon, polyester, cotton, etc which are used for safety harnesses, luggage, garment accessories, straps, etc and looks to provide quality products to OEMs (Original Equipment Manufacturers). "I had to unlearn my way of interacting with people. We were dealing with suppliers in the unorganized sector, conservative Muslims and Marwaris and being a woman made it more difficult. It took more years to gain their confidence. The workers had played with me as a child, fed me from lunch boxes and it was difficult to get them to take me seriously!” Little hints from the market also made them realize that people who portrayed themselves as being trustworthy were not really so. "We wanted a GIDC (Gujarat Industrial Development Corporation) plot a year back, but there was no response for long,” she related. Dealing with middle men colluding with the authorities, taking on the babus (officials) in government departments, complying with pollution control norms, etc, meant learning things on street legal. "With mentoring from WZCC, we know we are in good hands and we will not be misled,” she averred.

Farokh Irani’s Donut Magic now has eight stores in Poona. "I come from a family background of bakers who have been doing things the conventional way for 55 years. I had been going to the bakery since I was eight years old. I had a know-it-all attitude,” narrated the 46-year-old who had won the first prize in WZCC’s first Business Plan Contest in 2009. "But there was much more I needed to know. We were very lucky to have the best of business minds, so listen and accept.” Do not ignore or fear competition, build the market for your product, cash in on opportunities, eliminate or minimize threats, make strategic changes, but most of all connect — to people, emotions, way of life… "If you connect, half the battle is won!”