Summary of “It Happened in India”
Recently I read a book called “It Happened in India”. The author Kishore Biyani is the owner of multiple brands and companies. The names that stand out are Central mall, Big Bazaar, Pantaloons. Although his success in the retail industry is pretty commendable, to me he comes across a big dictator. Its one thing to run the business from ground up but its completely different when the execution involves him in every aspect. I do give a lot of credit to his success although his methodology is what I question.
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Couple things that I felt were good insights.
1. There are couple emotions that determine the shopping pattern: The fundamental ones are greed, altruism, fear and envy.
2. Women have always provided the best insights and inputs on building retail business
3. The key to being a successful entrepreneur is having an ability to innovate and an ability to execute those innovations.
4. There are 3 kinds of entrepreneurs Creators, Preservers and Destroyers.
Very important aspect of entrepreneurship is to separate the ownership, governance and execution. No two people are equal, everyone has their strengths and weaknesses. Identify them and work around those. Kishore says “Everyone is here on earth to kill time. Everyone picks some activity that they like doing and calls it profession”
A good book recommendation that I got from this is “7 habits of highly effective people”.