Knowledge Wharton has an interesting audio interview with Subroto Bagchi, Co-founder & COO of Bangalore-based IT services firm MindTree Consulting. and author of the book The High Performance Entrepreneur.
Bagchi makes several interesting points including that:
* Start-up companies should "pretend to be big" by putting in place proper processes (which he compares to plumbing/infrastructure for a large building) and governance right from the beginning.
* How MindTree's large founding team was a source of strength ("blessed with bandwidth" versus "too much overhead") since whenever one founder has some domestic issues to deal with there was someone else to take the slack. This helped the company become resilient.
* Not focusing overly on the idea versus the need to enjoy building a long-term business.
* Focusing on the "emotional infrastructure" in addition to the physical and intellectual infrastructures. The need to build all three is an ongoing exercise. It was MindTree's attention to the emotional infrastructure that helped it survive the economic downturn.
* Three legged stool approach with customers, employees and investors. Do not try and favor any one leg at the cost of another.
* If you are in your 20s, get some experience - especially some sales experience - by working for someone else before trying to create a organization that will change the world. The world will wait.
Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of information and networking services to the Private Equity and Venture Capital ecosystem in India. View sample issues of Venture Intelligence India newsletters and reports.