Entrepreneur of 'My Life Chronicles'
PGSEM 2005-08
www.mylifechronicles.com
1) Why did you decide to start My Life Chronicles
The
idea came to my mind while speaking casually to a couple of my PGSEM batch mates
at IIMB. It was Dec 2008. My father passed away from cancer in 1998 and I left
home right after that. My elder brother had left home earlier. Being a very
organized person my father used to write journals regularly and keep all
letters and other paper records neatly filed. On my visits to home town years
later, I could see that those diaries and folders were gathering dust and even
being sold away to the raddiwalla. I could not do much while on a
short vacation but wanted to at least scan and digitize the old photos and
letters. This desire led me to the idea of preserving individual and family
stories and then on to preserving institute and corporate memories. When I
googled I found that there is an organization in the USA called APH,
Association of Personal Historians who are already doing this for 15 years. That
was the time I realized that we Indians are poor preservers of our past and
that needed to change and change fast.
2) Tell a little about yourself -
education, work, family - the story so far.
Born
and brought up in Steel City of Durgapur, I completed my secondary education
from St. Xavier’s, Durgapur and Higher Secondary education from Bidhan Chandra
Institution, Durgapur. I went on to complete my BE(Hons) from REC Durgapur and
chose to work at SAIL, Durgapur. This was the time my father was suffering from
cancer and I cherish the time I stayed close to him. Father passed away in 1998
and I moved to Bangalore a year later in 1999 following my IT dreams. Infosys
was about 3500 people and still a close family when I joined the company. I
remember sitting close to NRN's cabin in the Heritage Building, Electronics
City. Infosys gave me an opportunity to broaden my exposure and knowledge by
sending me on various foreign assignments. This happened pretty quickly in my
career and the rich interactions with customers helped shape my thought
processes. I got married to Tandra in 2000, an alumna from my college. We moved
to Banerghatta Road, very close to IIMB. We still stay here. Tandra works in
Novellus Systems. We have 2 daughters, Ananya of 8 years and Anwesha 3 of
years.
In 2003, I went through this phase where I had a major urge to do a PhD
in Operations Management (Sunil Mehta's book inspired me). I took the GMAT and
applied to a few universities in the USA. Georgia Tech found me worthy of a
scholarship and invited me over. Reality struck me hard as I realized the full
impact of the decision. Leaving my 6 month old daughter and family for a degree
which takes 5 years, by a conservative estimate sounded impossible. Taking them
along meant sacrificing settled lives and careers. I sent a painful rejection
note to Georgia Tech and appeared for the neighborhood IIMB PGSM program
interview instead. This was the same time I moved from IT Delivery to Pre-Sales
and Marketing at Infosys, hoping to focus on academics for a couple of years. 2004-2007
was a roller coaster ride juggling PGSM assignments, Pre-Sales RFPs and family.
However, this is the time that gave me the confidence and courage to attempt
something different, to start on an entrepreneurial journey. I felt I was not
ready and to get a different perspective I challenged myself to join a completely
different work environment. I joined Honeywell,
an industrial automation giant working on New Product Development
projects. I kept working on my entrepreneurial ideas and goals till the time I
left Honeywell to start My Life Chronicles 3+ years later. My Life Chronicles
has been a labor of love ever since.
3) How did you manage the risks, how are
you paying the bills
Having
a working and supportive spouse helps. It has been more than a year and I
continue to depend on her to meet our bills. However, I am planning to start
taking a small monthly salary from My Life Chronicles to ease the burden.
4) Are you happy
I
am having the most enjoyable albeit the most hectic time of my life. I am no
more known by Infosys or Honeywell but by My Life Chronicles alone. This is a
fundamental shift in thinking and can give entrepreneur nightmares in the
initial months and years.
5) Would you want to go back to Honeywell
No,
unless I am compelled to because of financial or other pressures.
6) What next
My
Life Chronicles, I would like to believe, is at an inflexion point. I will be
joined by partners in the next few months, partners who see value in what I am
doing and who would like to share the risk. While stories of individuals is
where my heart lies, corporate chronicles is showing a lot of promise. I am
working with CRISIL (A Standard & Poor's co.), a well-known brand
with a tremendous reach across India and even globally. In the process, I
have been personally interviewing Senior Management and Board members of large corporate
and all of them have been very positive about the idea. Making high quality
memoirs and chronicles affordable and easy, still remains my dream.
7) Advise to those who want to take the Plunge
Follow
your heart but have a safety net. Prepare for the worst case, take your family
into confidence and take the plunge. The 'right time' will never come. The
right time is now. You are not going to die if you take the plunge!
8) What role and importance would
you attribute to PGSEM in your journey so far?
Without PGSEM I would not have had the
confidence to venture out. Through PGSEM I have come to know a few people who
have helped me with their thoughts, suggestions and encouragement.
9) How did you evaluate the
opportunity in terms of the critical elements of success? The competition and
the potential market? Did you make a business plan?
This is a new concept in India. There was no
data available as such. We did some primary research which didn’t throw up
positive results. It was more of gut feel and the passion to do something I
enjoy that led me to plunge.
10) Any specific learning’s you
would like to share with the budding entrepreneurs.
Meet as many potential customers you can and
listen to what they want. Meet start-up founders and understand/learn from
their challenges/mistakes. Moonlight.
