Cross Posted from the Venture Intelligence Entrevista blog:
In conversation with K. Satyanarayan, Co-founder of regional language publishing firm New Horizon Media. (Recorded on August 15, 2012 in Chennai.)
Highlights:
Takeaways for Other Entrepreneurs: (Click on the links for the video segments)
- Don’t add artificial constraints when it comes to entrepreneurship
KPR: Separating home and work, politics & business – we tend to have many boundaries where none need to exist. These are Western notions and mind blocks that we can revisit.
Being a Husband-Wife Entrepreneur Combination was never a major hassle for us. In fact, as Latha says often, we would have probably fallen apart but for Ma Foi!
Latha Rajan: In the early days, he used to travel 25 days a month and I used to travel 10 days a month. But since I was there within the system, I could understand (the pressures and issues). Both of us knew what we were working towards.
Entrepreneurship has given me a lot of flexibility mentally. I used to take my daughter and son to office if it was required. In fact, the 30th day after my son was born, I was in the office and I took him along.
- Employees as Members: Everyone who joins Ma Foi is referred to as a “member” (as against an employee).
Latha Rajan: “Employee sounds so transient”.
Even if someone leaves the organization (as an employee), he/she still remains a Ma Foi member (and hence an ambassador for the firm).
- Innovation in funding: Converted the company into a public limited one very early and raised small amounts from over 275 well wishers, employees & ex-employees and clients. Made sure to pay the shareholders a decent dividend each year. (Ma Foi paid 20% “religiously”.)
- Growth, Diversity, Transparency and Integrity
Everyone knew how much everyone else was producing
- Decision making structure
Management through “Operating Board, Management Council and Institutional Member” meetings - Don’t seek valuation ahead of value creation
Other Highlights (The Journey & Lighter Moments)
- The Early Days: “Our Aspirations always exceeded our resources”
- Ma Foi the name
- Struggle for Early Stage & Bank Funding
Banks would fund someone with 20 Buffaloes rather than a business like HR Services with 20 MBAs. “Buffaloes won’t run away, but your people might. Then what happens to the collateral?” - Early Employees: They joined us to co-create Ma Foi; not to earn a living
- Defining the Roles: “I earned and she spent”
- VC Funding, online dreams & dotcom crash
- Sale to Vedior
- Vision for Ma Foi Strategy (“Ma Foi Version 6”)
Leveraging the Triad of Consulting, Research & Education to Create a “Big 5” League Consulting firm out of India
The Full Length Interview Video
Video Of The Q&A Session
Click Here to Download the Audio of the Q&A session – 8.54 minutes, 4 MB. Use Right Click & Save As to download to your desktop
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