He stressed the importance of living in a joint family and how it can help in growing the family businesses
Rajya Sabha MP Dr Subhash Chandra on Wednesday said that an entrepreneur can be successful due to design or several other factors, but for repeated success one needs to evolve and recalibrate constantly.
"Repeat your success is what I would say," said Dr Chandra during a panel discussion at the Outlook Business Leading Edge 2018 event on Wednesday.
He stressed the importance of living in a joint family and how it can help in growing the family businesses. "In a joint family one should know how to make sacrifices. There should be pleasure in giving," Dr Chandra said.
The discussion, which had Harsh Mariwala, chairman, Marico and Kishore Biyani, founder, Future Group, as panelists was on the theme 'Against all odds'.
According to Dr Chandra, in a joint family, the family head can take the final decision though others may contribute with their opinions or ideas, and this is how it happened when he was young and also later when the baton of the family head was passed on to him.
Speaking on the occasion, Kishore Biyani said that he can only admire the risk-taking ability of Dr Chandra.
Recalling how he too grew up in a joint family and how it shaped his personality, attitude and intellect, Biyani said, "Had I not been part of my joint family, I would not have developed the interpersonal relationships and skills, understanding of human nature, etc." These qualities, he said, are crucial in running of any successful business and essential for an entrepreneur.
When the discussion drifted towards his meeting with former Prime Minister Indira Gandhi and how he was scared at that moment sitting in the room, Dr Chandra said he has nothing more to add than what is written in the book.
"Truth saved me then," he said.
Harsh Mariwala said that he, too, comes from a joint family and does believe that failures are definite thing which may happen in life. "But what is important is to get up and fight back with dedication," he said.
Taking a dig at Patanjali, Mariwala said the brand has been able to make inroads into FMCG products market, but it does not have any significant market share in the segment in which he operates. Mariwala said he gets a monthly report on Patanjali just like other competitors, so as to keep tab on his company's market share and also to learn from them.
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