Nice read .. Highly RecommendedReview by Akshay
The book is divided into 3 sections
* The Believers: IIM-A graduates who took the plunge straight out of IIM-A
* The Opportunists: Who saw an opportunity and capitalized on it
* The Alternate Vision: Social Entrepreneurs who cared about things beyond money
The book is written in a conversational format with the author thinking aloud before having a conversation with an entrepreneur followed by the conversation and a page of advice from the entrepreneur.
The sheer breadth of advice from entrepreneurs proves one big point, there is no consistent formula for success. There are examples and counter-examples of every strategy in the same book.
* There is no other way but to learn from one's own mistakes
* It pays to ride a wave in an upturn but then belief in one's ideas is as important to see through the trying times
* Bootstrap is good but sometimes there is no other way to scale up without a high leverage investments backed by a VC/PE fund
* Jumping straight into the rough is good but so is gaining some experience and building a nice nest egg before taking the plunge
* Its good to have equal partnerships with your co-founders but sometimes there needs to be a first amongst equals for smooth functioning
* You can plan really well and execute it with mathematical precision but sometimes the best of plans can be bested on first contact with the market
* Maintaining independence of your venture ('my baby') for long through the rough road is good but knowing when to let go even when the going is good is needed many times
* Government can be a very conservative regulator and prone to knee-jerk policy actions based on emerging events which can kill entrepreneurial ventures but sometimes they are the only ones who are willing to try out something new providing the much needed lifeline to ventures thinking ahead of their times.
* Small is beautiful but without scale the actual vision cannot be realised
* In all cases IIM-A alumni network helped a lot
Inspiring stories nicely written....Review by Raheel Ahmad
I was curious about this book when I came across this somewhat unconvetional title "Stay Hungry, Stay Foolish". So I decided to pick up a copy and flip through its pages. After going through the first few pages, I knew that this is the book I am going to keep with me for life. It's not because of any sentimental value but beacuse it is so insipiring to read about the young men who took risk in career and got ahead of others.
The book talks about 25 IIM-A graduates who, at different point of their life, decided to take a plunge into the challenging world of entreprenuership. They risked their career and turned down high paying job offers to start something of their own. The ups and downs faced by them in their endevours to do something different makes one think how big dreams are achieved.
The book is well written in short, simple and crisp English. It doesn't require one to be a Management guru to understand the context. There are a few jargons here and there. But overall, the book is quite interesting and inspiring to read. Highly recommended, especially to all those who are starting out on their career path.