Rash, Brash and in it for the Cash?

Rash, Brash and in it for the Cash?

Expected Learning Outcomes

• Relationship between age, experience, behavior and entrepreneurial success in the light of a few of Indian investors’ and mentors’ experiences
• Factors that have contributed to the change in entrepreneurial behavior before 2008 and post-2008
• The possible and relevant alternatives that can reignite and reinforce the Indian entrepreneurial spirit (especially that of new-age Indian entrepreneurs)

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I. Age, Experience and Entrepreneurial Behavior

1. Who according to you is an entrepreneur? Given the various stages of entrepreneurial development, at what stage do you think, an individual can be termed as an entrepreneur?
2. What is the difference between an entrepreneur and an intrapreneur (executive entrepreneur)?
3. It’s quoted in the base article that, “Being young, restless and with the proverbial fire in the belly is a prerequisite for any founder worth his business plan. But youth also has its rough edges…” What do you think are the rough edges that can be inferred from Housing.com’s CEO, Rahul Yadav’s unceremonious (forced) exit?
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II. The Reasons for Change in Entrepreneurial Behavior 

1. The base article lists out the pool of traits to rate entrepreneurs. Can you classify the traits cited in the article into positive and negative behavioral traits/proactive and reactive behavioral traits/individual-based and institutionally required traits? How do you think the entrepreneurs are faring?
2. It has been quoted in the base article that “as the number of startups being founded increases by the day, and the average age of their founders reduces, entrepreneur behavior on a number of fronts – from risk-taking ability to strategic thinking – is witnessing a change”. What according to you is the relationship between the age of an entrepreneur and his/her behavioral trait?
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III. The Right Kind of Entrepreneurial Behavior: Suggestions

1. From the foregoing analysis of the importance of age and experience for entrepreneurial behavior, do you make a case for a well-grounded and strong foundation in Emotional Intelligence for entrepreneurs, especially the 1st generation and young entrepreneurs?
2. The base article points out that a lot of behavioral imbalances can be attributed to ‘lack of experience’ and ‘immaturity’. How do you think the 1st generation/young/inexperiencedentrepreneurs can make up for their lack of experience and exhibit a high sense of maturity?
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Rash, Brash and in it for the Cash?

Synopsis

This Case Flyer enables a discussion on an interesting aspect of booming entrepreneurial activity in India – behavioral traits of new/1st generation/young Indian  entrepreneurs. Given the reducing age of entrepreneurs, it tries to establish a relationship between the age and experience of entrepreneurs and their behavior. It compares the behavioral traits of post-2008 entrepreneurs with that of pre-2008 entrepreneurs and helps debate on the reasons behind change in entrepreneurial  behavior. The Case Flyer ends with the possible suggestions for new age entrepreneurs that would help them have all the required behavioral traits to be a successful entrepreneur.

Before the Case Flyer Discussion

The participants should mandatorily read about (and analyze) the Founders of the top Indian entrepreneurial ventures such as Flipkart and Snapdeal, started around 8–10 years ago and are still in business.

Suggested Reading for the Faculty

• • Donald N. Sull, “Why Good Companies Go Bad”, Harvard Business Review, July-August 1999 – To understand the framework on ‘Dynamics of Failure’ and share the same with the students

Case Positioning and Setting

This Case Flyer can be used in an MBA Program on Entrepreneurship, to be taught in the beginning of the course. When the participants are being taught about starting of a business, this Case Flyer will be helpful in understanding the behavioral landmines that can be pre-empted with a reasonable understanding of the reasons for inappropriate entrepreneurial behavior and the relevant steps to be taken to avoid improper entrepreneurial behavior that can endanger the very existence of the entrepreneurial venture.

Preamble to this Case Flyer Analysis

On the basis of information provided in the base article, this Case Flyer tries to analyze the behavioral traits of new age Indian entrepreneurs and draw relevant insights from the same. While classifying the traits as positive and negative behavioral traits, it attempts to identify the reasons behind these traits and how the traits of pre-2008 entrepreneurs differ from those of post-2008 entrepreneurs. On the basis of the analysis, the Case Flyer also tries to give some suggestions to new age Indian entrepreneurs on the required behavioral traits to be a successful entrepreneur. The Case Flyer discussion was orchestrated accordingly [Exhibit (TN)-I].........

Case Analysis/Case Flyer Discussion

Before beginning the Case Flyer discussion, the students were asked the following questions as a warm-up exercise:

Question 1: Can you name the top ten Indian startups/entrepreneurial ventures that were started in the past 8–10 years and are still in business?

Response from the students/participants: Flipkart, InMobi, Olacabs, OYO Rooms, Snapdeal, Jabong, IRCTC, Zomato, Bookmyshow, Redbus, Quikr, OLX, Bigbasket, Fabfurnish, Pepperfry, Paytm, Hector Beverages, etc.

This was largely based on the mandatory exercise that they were asked to carry out before this Case Flyer’s discussion.

Question 2: What is common amongst all of them?

Response from the students/participants:

1. All these companies are eCommerce companies or digital companies
2. They have been started by 1st generation entrepreneurs
3. Most of these are either in lifestyle retailing or in grocery retailing
4. Most of them have been started by two people – one being adept at technology and the
other in business and marketing, thereby complementing each other
5. Not all of the founders have relevant experience in the their chosen field of business
6. It can be guessed that most of them must have had good mentors
7. The average age of all these founders is around 28–35 years
8. All of them come with a high pedigree
9. None of them have been in news for wrong reasons (i.e., wrong behavior such as being abrasive, intrusive, vitriolic, impulsive, immature, illogical, etc.)

This question and answer session sets the background for discussing the contents of the Case Flyer.

Before this Case Flyer’s questions can be attempted, the students/participants should be encouraged to capture a broad framework/synthesis of the base article that can serve further analysis. The analysis and the insights have been captured in Exhibit (TN)-II. Alternatively, the same can be given as written assignment before the classroom analysis and discussion...............

Exhibits

Exhibit (TN)-I: Discussion Dashboard

Exhibit (TN)-II: Investors and Mentors' Experiences with the New Age Entrepreneurs

Exhibit (TN)-III: Stages of Entrepreneurial Development

Exhibit (TN)-IV: Differences between an Entrepreneur and an Intrapreneur

Exhibit (TN)-V: Positive, Negative and Neutral Behavioral Traits of Young Indian Entrepreneurs

Exhibit (TN)-VI: Relationship between Age, Experience and Entrepreneurial Behavior

Exhibit (TN)-VII: 5Ps of Business and Relevance of Age and Experience of Entrepreneurs

Exhibit (TN)-VIII: Positive Traits* getting Converted into Negative Traits

Exhibit (TN)-IX: The Dynamic of Failure

Exhibit (TN)-X: Classification of Entrepreneurs' Behavioral Traits

Exhibit (TN)-XI: Behavioral Traits of Entrepreneurs

Exhibit (TN)-XII: Entrepreneurial Traits: Inborn or Learnt?

Exhibit (TN)-XIII: Checklist for New Age/First Generation Entrepreneurs

Exhibit (TN)-XIV: Sources of Conflict and Conflict Resolution