Leaderspeak: The Best Advice I Ever Got

"Learn the Value of Money"
The best advice I ever got was from my mother, who put me on an allowance from which I had to manage everything, from my school fees and books to pocket money and transport.
Adi Godrej, Chairman, Godrej Group

"Challenge the Status Quo"
"If that is the policy, perhaps it is time to revisit it." That piece of advice from Mr N Vaghul taught me to always challenge the status quo and to not be daunted by a change in orbit.
K.V. Kamath, Non-Executive Chairman, Infosys and ICICI Bank

"Your Best Friend Is Your Inner Voice"
To my mind, the best advice I have received is to listen to my inner voice.
Y.C. Deveshwar,  Chairman, ITC Limited

"Never Give Up"
Two pieces of advice from my father have remained the guiding force of my journey. His first was to keep trying till one succeeded, but never at the cost of principles. The second was to be empathetic to the cause of the underprivileged.
Anil Agarwal, Chairman, Vedanta Resources

"Manage Wealth Like a Trustee"
The best advice I ever got is from the study of the Bhagwad Gita. The Gita advocates the concept of Trusteeship. The concept of Trusteeship means that all we have here is given to us by the Lord, and my role as a Trustee is to hold and manage this wealth in the interest of all the stakeholders.
Ajay Piramal, Chairman, Piramal Group

"Take the Highway If You Can"
I normally do not listen to any advice, but there is one I got from a guide book for chemistry practical exams written by a professor in VR College, Nellore. The professor may not have intended this, but I took this advice seriously and applied it in every walk of my life. The advice was: when you have a highway to reach a destination, do not choose lanes and bylanes.
K. Anji Reddy, Chairman, Dr Reddy's Labs

"Manage Risks Intelligently"
Risk management is a rigour of improving the probability of survival and success, particularly in an uncertain and complex environment.
Y.M. Deosthalee, CMD, L&T Finance Holdings Ltd

"Keep Your Worst Critic Close to You"
Your worst critic could well turn out to be your best friend. If you care to listen, you will at least be aware of the possibilities and implications, before you make up your mind.
Shivinder Singh, Vice Chairman, Fortis Healthcare

"Treat Community Property with Care"
The teacher who influenced me most as a high school student was Mr K.V. Narayan (KVN), the head master of Sarada Vilas High School, Mysore, where I did my 10th and 11th years of high school. Even today, I remember KVN's words: "This country became a slave nation because we all looked after our families and not our society. Therefore, it is very important for every one of us to treat what belongs to the community much more carefully than what belongs to our family."
N.R. Narayana Murthy, Chairman Emeritus, Infosys

"Create New Rules and a New Game"
The late C.K. Prahalad shared some key thoughts about the core elements that Indian businesses needed to imbibe to take the big leap and become truly global.The mismatch of aspiration and resources leads to INNOVATION. Indian enterprises needed to constantly innovate to be at par with their global peers.
Shiv Nadar, Founder & Chairman, HCL and Shiv Nadar Foundation

"An Enabling Ecosystem Is Vital"
This one is clearly etched in my mind. I got this advice more than 25 years ago. The counsel came from one of my bosses at Grindlays Bank, who was giving me my second promotion in three years.
Romesh Sobti, MD & CEO, IndusInd Bank

"Follow Your Heart"
I can see that you have figured out what you want to do, and you should just go ahead and do it." This advice came to me multiple times from the same person - the late Arun Kumar, then Managing Director of Aricent.
Alok Mittal,  MD, Canaan Partners India

"Treat Your Investment as a Loan"
The best advice I got was from a fellow entrepreneur who said that one should treat investment in a company as if it were a loan from the company treasury.
Adhil Shetty, Founder & CEO, BankBazaar.com

"Always Look Outward"
When I got back to India after I finished college, I remember having a conversation with my father (Mirc Electronics CMD Gulu Mirchandani) about buying a Mercedes. He thought about it for a moment and said: "Good idea, go ahead and buy it." I was surprised because this was not the reaction I was expecting - I was 22 and clearly did not have the money to buy the car. That's when he mentioned the words that have stayed with me till now: "Never look inward always outward."
Sasha Mirchandani, Founder & MD, KAE Capital

"The Life Force of Strategy"
Thus the best advice that I ever got was upon reading The Organon of Medicine by Dr Samuel Hahnemann, the founder of homoeopathy. Hahnemann wrote: it is the life force that cures, for a dead man needs no more medicine.
Rajiv Bajaj, MD, Bajaj Auto Ltd

"Be a Loving Guide to the Mind"
My source of inspiration for shaping my life has always remained my close friend Sri R.S. Goenka. His counsel has been - love others, listen to others, live for others. Attain peace by bringing peace to others.
R.S. Agarwal,  Chairman, Emami

"Don't Make Your Creditors Ask for Their Dues"
My distant maternal uncles advised me: "Whenever you realise money from the sale of your finished goods, you should first go to the market and deliver it at the creditor's shop to settle his dues."
Subhash Chandra, Chairman, Zee Entertainment Enterprises Ltd & Essel Group

"Try New Ideas"
Bringing about change in a traditional industry was never easy. So, although I had a vision of where I wanted to take the business, the road map was not so clear. I will always treasure the advice that I got from my father in those early days: "Combine professionalism with instinct, and don't be afraid to experiment and try out new ideas."
Mehul Choksi, CMD, Gitanjali Group

"Practise Storytelling"
Mentorship is extremely important, even more than funding for start-ups.
Deepak Ravindran, Co-founder & CEO, Innoz

Mentor: Kris Gopalakrishnan, Co-founder & Executive Co-Chairman, Infosys - Take chances when you're young, tell stories when you're old. Entrepreneurship cannot be taught. The best way is to experiment.

"Play to Express"
Many years ago, when I was at boarding school, I was to take part in a piano competition. My father happened to visit me at the time and put me through hours of practice until my Moonlight Sonata was perfect. Just a few minutes before I went on stage, he whispered into my ear: "Darling, play to express rather than impress". A simple piece of advice which has guided me through life.
Meher Pudumjee, Chairperson, Thermax

"Question Fearlessly"
The best advice I ever got was: "Always question everything." My father, Mr Prakash Chauhan, gave me this advice before I started working.
Schauna Chauhan, CEO, Parle Agro

"Change and Persevere"
Roughly two years ago, when I was leaving Bharti Airtel to set up on my own, my boss, Sanjay Kapoor, told me: "Remember Imti, entrepreneurship is a one-way road."
Mohammad Imthiaz, Co-founder & CEO, Hoppr

"Turn a Challenge into an Opportunity"
In 1995, soon after the vertical split in Cadila Laboratories, Cadila Healthcare, under the aegis of the Zydus Group, came into being. With a newly restructured organisation, a host of issues had to be addressed. That's when a piece of advice from a consultant helped us look at the entire issue in a different light. It brought to the fore the opportunity lurking in this challenge.
Pankaj R. Patel,  CMD, Zydus Cadila

"Follow Your Beliefs Without Fear"
Today, whenever someone asks me to help them make the right decision, I advise them to follow their beliefs without fear. It's been my source of inspiration and guidance over the years.
C.P. Krishnan Nair, Chairman, Leela Group

"Marry the Right Person"
But from all the advice that I ever got, and when I look back at my years, I feel the most important advice given to me was: "Marry the right person." As the years have passed, I have realised you can't separate your professional from your personal life, and that your personal life is your support system.
Glenn Saldanha,  Chairman & MD, Glenmark Pharma

"Pursue Goals with Sincerity and Integrity"
One of the most important things I have learnt is to pursue your goal with total sincerity, integrity, transparency and commitment. If these principles are followed, you are bound to achieve your goal.
Ajay Bijli, Chairman & MD, PVR Ltd

"Keep Business Simple"
That's the best advice I ever got, and the best I can give to others. The simpler the business and transaction, the cleaner it will be, making it easier to operate.
Kushagra Nayan Bajaj,  Vice Chairman, Bajaj Group

"Benevolent Negligence"
Once I told Tariq Ansari of Mid-Day how I wished my people would take on larger ownership, how I wanted to take this venture from being a mom-and-pop outfit and to a lean, mean professional company. He calmly smiled and simply said: "Go on a two-month holiday." As soon as I began to protest, he explained: "It's a concept called 'benevolent negligence'." Take your hands off, and your people will be forced to sink or swim. Give them control. Tell them you don't want to be bothered.
Riyaaz Amlani, MD, Impresario Entertainment & Hospitality

"Don't Be Greedy"
In 1984, I was working for JM Financial in Mumbai. Nimesh Kampani's uncle, the elderly Naveen Bhai Kampani was around, often giving us wise tips. Once he told me that the stock market was like a hot stream of gold. If you dip your hand in it with greed, you will burn your fingers. Instead, you must carefully remove gold in small quantities from the surface, and invest outside the stock market.
V.G. Siddhartha, Founder, Cafe Coffee Day

"Keep a Grip on the Cash Flow"
When One97 acquired its first round of funding, I was a twenty-something with virtually no business experience. With the funding, Vibhor Mehra of SAIF partners came on our board. He guided me to the discipline of business planning, which has helped me to this day. The best advice I got from Vibhor was to keep a grip on the cash flow of the company.
Vijay Shekhar Sharma, CEO, One97 Communications

"Hire Excellence"
A's hire A's, and B's hire C's: My entrepreneurship professors at Stanford University mentioned this with amazing regularity, and this definitely holds true. As a leader, one needs to find the right team, which can not only build a great product or strategy but also attract a great group of people who can actually realise the vision.
Prashant Tandon,  MD & Co-founder, Healthkart.com

"Learn to Attach, Detach"
My father, inspired by the Bhagwad Gita, suggests a theory of attachment and detachment in business. I have been hearing the advice for about 10 years or so, and this has also helped us during crises. You need to attach yourself to certain things to go deeper, develop a passion and get work done. But you need to get detached after achieving certain milestones.
Anil Gupta,  Joint MD, Havells India

"Just Do It or Simply Refuse"
As CEO of Bharti British Telecom, I used to work directly with Sunil Mittal. During meetings on strategy and plans, we used to have stimulating debates and heated arguments. At the end of it, Sunil Mittal used to take a firm commitment - either the senior managers were going to do it, or they had the choice to refuse.
Krishnan Ganesh, Founder & CEO, TutorVista; CEO, Smarthinking

"Give Back to Society"
I believe it was my grandfather who gave me the best advice I have ever received. His thinking is something I still cherish and try to emulate every day. His dictum was simple: whatever you do in life, do it for something more than your own ends. Do it for others. Do it for society.
Tulsi Tanti, Chairman, Suzlon Energy Ltd

"Be in Your Element"
I stumbled upon an interesting read - The Element by Ken Robinson. The book celebrates human ability and helps people recognise that there is a certain something in each individual which is unique and can guide his path through life.
Ashni Biyani,  Director, Future Group

"Follow Your Passion"
The best advice I ever got was from my father. He always said: 'Be all in.' I have followed my passion and it has never led me astray.
Manmohan Agarwal,  CEO, Big Shoe Bazaar

"Aim for the Sky"
I received a tough grooming at our various factories, and senior executive and my mentor - the late Mr Brij Mohan Bakshi - gave me instinctual but insightful advice. His advice was on two levels, one at the aspirational level and the other on a practical level. His aspirational advice was "to reach for the stars while keeping my feet firmly on the ground".
Gautam Thapar, Chairman & CEO, Avantha Group

"Make Your Dream a Success"
We faced rejection from Indian venture capitalists, didn't want to take up corporate careers and pursued our dream. Today, after five years, we reach over 500 million consumers in more than 165 countries, a few billion times a day through our network.
Naveen Tewari,  Founder & CEO, InMobi

"Always" Is My Unwavering Guide
The one unwavering guide for every action of mine, particularly in a crisis, is this poem entitled "Always" attributed to Blessed Mother Teresa of Kolkata, which she based on the paradoxical commandments penned by Kent Keith in 1968. I have found that whenever I act upon these tenets, growth and satisfaction become inevitable.
Lynn de Souza,  Chairman & CEO, Lintas Media Group

"Stick to the Basics and Focus on Innovation"
The global financial crisis struck unexpectedly. Companies had to redefine strategies and make mid-course corrections to their investment and growth plans. Nimble and fleetfooted organisations weathered the storm. We at Bharat Forge decided to use our own counsel in responding to the crisis. We decided to keep things simple by focusing on internal measures primarily aimed at improving competitiveness.
Baba Kalyani, Chairman & MD, Bharat Forge

Disregarding Traditional Wisdom
Sitting now in the middle of 2012 and reflecting on the past three years gives me both a sense of achievement and anxiety. Achievement on account of how much our business has grown, and anxiety about the future, as our industry has undergone structural changes on account of the withdrawal of capacity by Kingfisher Airlines and the hike in fares by other carriers. The combined effect of these resulted in negative growth in domestic air passenger traffic in May 2012, for the first time in seven years. One thing which helped our business more than double in the past three years was our focus on investing in core areas like brand and technology.
Dhruv Shringi,  Co-founder & CEO, Yatra.com

"Focus on People's Strengths"
People Management: Dhruv Prakash, executive coach, encouraged me to play to people's strengths rather than try to make them change their working style.
Deep Kalra,  Founder & CEO, MakeMyTrip.com

"Think Long-term, Act Short-term"
I have received a lot of advice over the years. But the one that I have acted on and that has helped in these five years of being an entrepreneur is: think long-term, act short-term.
Sachin Bansal,  CEO & Co-founder, Flipkart.com

"The Power of the Brand"
A slowdown is the best time to put your might behind the brand. When the slowdown hit, Shoppers Stop changed its logo and byline, and launched a campaign under a new brand identity and logo called "Start Something New".
B.S. Nagesh,  Founder, TRRAIN; Vice Chairman, Shoppers Stop

"Be Transparent"
Be transparent with the team. Keeping people in the loop allows them to take mature decisions. I have rarely seen people abuse this trust and it brings in a huge amount of ownership.
Ishita Swarup, Co-founder and CEO, 99labels.com

"It Always Works Out in the End!"
This is something that I have heard repeatedly over the years in one form or another, from my parents, investors, industry leaders and friends. From this advice, I have imbibed persistence, patience and resilience in both my personal and professional life.
Inderpreet S. Wadhwa, CEO, Azure Power

"Sleep With Your Competition"
I have always seen competitors as just that. Competition. Us versus them. A fight in which throats will be slit and blood will flow. Okay, you get the drift. We always had to be a step ahead and make sure they had no idea what we were up to. Then someone sensible wrote: sleep with your competition. The article talked about how you should respect your competitors, try to be friends with them outside of work, and look at ways of collaborating with them to increase the market rather than chipping away at each other's market share.
Pallav Nadhani, Co-founder & CEO, FusionCharts

"Be Yourself"
The best advice I got was around September 2010. I was seated in the large conference room of Clearstone Venture Partners in their office in Santa Monica, California. Clearstone is the lead investor in my current venture, Games2win.com. The people present were Sumant Mandal, Games2win board member and Managing Director of Clearstone; Jim Armstrong, Joint MD of Clearstone; Bill Elkus, Founder of Clearstone; and I.
Alok Kejriwal, Co-founder & CEO, Games2win.com

"Senior Managers Make a Big Difference"
The best advice that I got in the recent past was to use Executive Search Firms (ESFs) to hire senior management. This came from my mentor, Sanjay Anandaram. He said it is the senior management that makes an organisation what it is. Even a 10 per cent improvement in the management team can result in multifold improvement in the organisation.
Phanindra Sama, CEO, redBus

"If You Don't Do It, It Won't Get Done"
This was the advice I received from my mom, probably many times over as I grew up. I was a good student, but always required a push to take the initiative in excelling at academics. My mom would tell me that I can't let other people carry the responsibility or the burden for my progress and goals.
Kunal Bahl,  CEO, Snapdeal