“Failure is the stepping stone to success!” Heard that? Another old saying that is for those who haven’t tasted success yet, isn’t it? Everyone fears failure but it should not be something to fear or abhor. Failure teaches us important lessons in life. It is an integral part of our lives, be it personal or professional. There is no success without failure. Success is as much sweeter because of failure. Failure gives way to frustration, despair, doubt and so many other emotions yet, it can be managed as a formidable weapon to fight your way to success.
Join and Listen in to learn how to use failure, your own or learned to clear your path to success…
In this episode, we try to answer this question about your choice of a career, your control & management of it to your aspired end goals. Let’s revisit your current or future career choice & understand if it’s on your planned path or do you feel that you are not in control of your career path and that you are chained to the job you do, for reasons other than fulfillment. How do you go about being in control of your career & work a job that you enjoy, that fulfills you?
Today’s guest is Christian Modjaiso from Congo, Africa! Christian is an extreme stress management coach on a mission to help anyone who is experiencing stress by a methodology he developed, to “observe” it! In this episode, Christian reveals his life journey where he came to the USA as a student and experienced culture shock! He talks about his travails, challenges and how he overcame them through observation. His approach helped him manage his own stress, anxiety and take control of his life and now, has channeled him to help others achieve the same.
Team Camaraderie, coming together as a team and working effectively for the organizational, team & mutual team member benefit, is more than about just rallying around an organizational mission. It has a lot to do, first with interpersonal relationships between the members, then, relations at various levels within the organizational framework. Meeting team & organizational goals have its roots in employee interpersonal relationships, individual ambition, personal goal achievement & more.
How many times have you said that, and asked your question when in a meeting, class or a group? Or have you second-guessed yourself and hesitated to ask? This episode dwells into this aspect of self-doubt where you could give in to others’ perception of you and as a result, self sabotage your own growth!
Leadership spans from being in command & control to being inclusive, transparent and upholding enablement and empowerment of employees to grow as unique leaders where they exploit their own personality traits and skills to get the job done. In this episode, we discuss these various aspects of leadership and debate as to what makes the most sense in present times. Join us in the discussion!
Interview with Plan B Success Podcast’s (www.planb.live) first guest, YAY!
In this episode, we interview John Lee Dumas aka JLD. JLD is the founder & host of Entrepreneurs On Fire (EOFire), an award-winning podcast where he interviews inspiring Entrepreneurs to help Fire Nation, his community on their Entrepreneurial journey! JLD has interviewed over 2,000 incredible Entrepreneurs, including Tony Robbins, Seth Godin, Gary Vaynerchuk, Barbara Corcoran, Tim Ferriss, and many more.
After serving as an active-duty Army Officer for four years, JLD tried Law School (1st-semester dropout), Corporate Finance and Commercial Real Estate before he made his pivot and embarked on his entrepreneurial journey. JLD shares the details of how EOFire came to be and what keeps him going every day to serve his community. He also shares with us the many opportunities his entrepreneurial journey has afforded him, both professionally and personally.
Join us and Listen in! Click on picture below to watch on youtube or for iTunes: https://apple.co/2JCSysL?ls=1; Do Subscribe and Leave a review on iTunes!
VG Siddhartha, Founder, Chairman and MD of Coffee Day Enterprises also known as “Coffee King” went missing on a bridge over River Netravathi near Mangalore, Karnataka, India on July 29th, only to be found 36 hours later, as a dead body making its way into the sea.
His professional journey, coming from a family of 135 year old Coffee Growers who mainly focused on supplying the world with rich South Indian coffee, to an entrepreneur who established an enviable chain of a few thousand wholly owned retail coffee stores, not just across India but in about another 5 countries is nothing short of phenomenal. He rewrote the coffee consumption story of India and became the person responsible for creating a new ambience and experience of how coffee should be consumed, not just for millenials but other generations too, who lacked access to a retail coffee experience in hip stores and locations. He created, in the east; the concept that we experience with Starbucks in the west.
Siddhartha founded Coffee Day in 1993 and opened the first Café Coffee Day in the growing silicon valley of India, Bangalore three years later. But, within 2 years of 1993, he became the largest Indian exporter of coffee. Since then, the company has grown into India’s biggest coffee chain. The company went through an IPO in 2015 to lukewarm response.
Based on their 2018 Annual Report, they have 2700 retail units and 47500+ vending machines within corporate offices. Later, they are known to have closed several stores due to business issues and its estimated that currently, there are 1700 locations across 245 Indian cities and other stores in some international destinations. By the way, Starbucks is estimated to have about 150 stores in India. Siddhartha catapulted to the billionaire club in 2015 with an estimated his net worth of $1.2 billion.
The 2018 Annual Report on the company website says that the coffee industry in India is set to grow at a CAGR of over 11% in the next 3 years. They also reported coffee retail gross revenue growth of 12% in FY17-18 and states that there has been constant same store sales growth over the last 25 quarters.
The key performance indicators per their 2018 Annual Report are shown below:
Apparently, the company is said to have done well during its first 10-15 years after which it took some heavy loans and the Chairman was having issues paying back. He is said to have liquidated his shares recently in an IT firm to pay back some of the loans. He seems to also have had tax issues with the government that curbed his liquidity. Moreover, there was pressure from Private Equity firms who had invested in the organization, for him to buy back shares to help the share price. With mounting pressure on all ends and a lack of liquidity, he wrote a letter to the shareholders and staff saying as much, a couple of days before he disappeared.
Let me share some more data with you.
According to the Indian Ministry of Corporate Affairs, of the 1.9 million companies registered with the government, about 680,000 or 36% closed in 2018. The previous year was at 20%. The share of dormant companies, those under liquidation, and under the process of strike-off is less than 3%.
The point I am trying to make is that everyday, we are inundated with the success stories of companies that have raised money, many of them; companies that have made an exit or IPO, a handful of them and then, there are stories such as VG Siddhartha’s where pressures of running a business, often times battles fought alone by the entrepreneur take toll. Sad but drastic actions taken by such entrepreneurs come to light and the nation, in fact international community talks about them since they are well known. But, in the dark streets and corners of entrepreneurship are several such entrepreneurs that take risks to keep their dreams and their employees’ jobs afloat, fight their battles alone and have sad endings. Entrepreneurship is not all guts, glamor and glory. There are failures too and a strong ecosystem to support is needed to ensure the fall is not so bad, that we have such drastic incidents. PE and VC firms, the banking system, tax bodies and the government, employees and entrepreneurs – this is the eco system, which needs to find ways to make entrepreneurship flourish. There will be failures, no denying that! But, the way they come down can be improved so that the passion and zeal to do something different and work hard to get it right, does not die with it.
In this episode, we discuss the recent case of a fallen Indian entrepreneur and billionaire, VG Siddhartha, Founder, Chairman and MD of Coffee Day Enterprises also known as “Coffee King” and reflect on lessons learned from his story.