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Home»Entrepreneurship»The power of entrepreneurial support systems
Entrepreneurship

The power of entrepreneurial support systems

prosperplanetpulse.comBy prosperplanetpulse.comApril 20, 2024No Comments8 Mins Read0 Views
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On this night in 1981, while having dinner with his wife, Narayan Murthy simply said: “I need money to start a company.” Can you help me? ‘

Sudha Murthy was surprised. “But I don’t have enough money to start a company!” she cried. “And you have to pay huge expenses every month.”

“But I can’t do it without your help,” Marcy explained.

That night, after Murthy went to bed, Sudha lay thinking. She saved her Rs 10,250 in her three years. For a moment, it frightened her to think that if she let it go, she might have nothing left in case of an emergency.

Then she said firmly: “This was Marcy’s dream, and now it’s so close. I have to help him. What’s the worst that can happen? The business fails. In that case, he can get a job anytime, and I work too.

The next day, she handed over 10000 rupees to Murthy, leaving only 250 rupees to use in emergencies. And what she said next prompted Marcy to take the plunge. She said: “Regrets are worse than failures. So let’s go on a wild ride! It doesn’t matter if it’s fun or it can be hard. We’ll work through it together.”

In a later interview, Sudha admitted, “It was the best investment of her life.”

—

The power of collaboration

So why am I sharing this story of Sudha and Narayan Murthy with you?

Their stories highlight the fundamental truth that success is rarely achieved alone.

Even the most hard-fought success stories are often fueled by support from outside sources, such as life partners, family, friends, and even strangers. In the most general sense, a self-made individual is often portrayed as someone who achieves success through hard work alone. However, the story of Sudha and Narayan highlights the fallacy of this concept.

By saying this, am I trying to negate the effort individuals put into achieving their dreams?

no.

Rather, it shows that even in the most hard-fought self-made success stories, it doesn’t take long to discover something completely outside of your control that made success possible. And now I have something to be thankful for.

Sudha was a huge help to Narayan as he built Infosys. Desperate to start a new business, Marcy had to work sometimes 20 hours a day and travel abroad for months. Even when he was in town, there were days when he was unable to share a meal with his family.

Yes, Marcy has had to work hard and sometimes experience loneliness as a leader, but how can he ignore the unspoken understanding and contributions of those around him? His children also understand and respect the fact that his father is not as available as many other parents, and are happy to have as much time as possible from his father’s schedule. I was there.

Everyone plays a role in your journey

Keep in mind, it’s not always your life partner, family, or friends who will selflessly support you on your journey. Sometimes you meet a stranger who becomes an integral part of your story without you even knowing it. For example, during his school days, Narayan Murthy was taught in Kannada, the regional language. At the time, he did not realize the importance of learning English, and without this “unusual source” he might have only found out later in life.

he recalls. “There was a grocery store opposite my house. Many times I saw the old store owner engrossed in reading the best English newspaper in Karnataka at that time.”

“For some reason, this shopkeeper became interested in my educational background. He often asked me questions about international news such as political events, sports, science, etc. I always end up failing. One day he gave me a long lecture on why English was important for my career and told me to read an English newspaper every day. When I told him that I would never agree to the extra expense of buying a book, he offered to give me my first try at an English paper.

From that day on, I eagerly waited for his store to open at 7 o’clock every morning, ran there immediately, read the newspaper for 30 minutes, and then went to school. From then on, I developed the habit of reading English. ”

The efforts to learn the language and develop the habit of reading helped Narayan later in life, but what cannot be ignored is the shopkeeper’s thoughtful actions that were only concerned with the boy’s future.

Entrepreneurs often need financial support for their business, but they also need a strong support system that believes in them even on the days they want to give up. In many cases, this support system may not even understand what you are trying to accomplish, and may or may not be successful in your efforts. Still, they will stand by your side.

One theory that closely aligns with this perspective is “systems theory” proposed by Ludwig von Bertalanffy. This theory emphasizes that individuals are not isolated entities but are part of larger systems such as families, communities, and society. According to this theory, an individual’s success is influenced not only by the larger sociocultural and economic context, but also by the interactions within these systems.

In the context of self-made individuals, systems theory suggests that while individual effort and determination are important, success is also influenced by the supports, opportunities, and constraints that exist within the larger system in which the individual functions. doing. This theory emphasizes the idea that individuals cannot truly succeed on their own because their outcomes are always shaped by the interactions and dynamics of the systems around them.

The power of our support team

Team members also play critical roles in the success of the business. When Narayan Murthy told his then assistant manager, NS Raghavan, about his dream of founding Infosys and his resignation from PCS, Raghavan immediately said: “If you quit,” I’ll go with you.

Surprised, Marcy warned: “It might not be wise to follow someone who doesn’t know where they’re going. They don’t even have a name for their company!”

Raghavan shrugged and said, “I will follow you wherever you go.”

Finding a team member loyal to Narayan gave him a boost he didn’t even need. And not only Raghavan, many others believed in Murthy and based on that belief, they risked their livelihood to join his journey. Another thing is that all of them have succeeded beyond her wildest imaginations, and while Marcy has always put their needs before her own, this leap of faith was easy for any of them to make. That shouldn’t have happened.

Another notable support system that is reflected throughout the book is Sudha’s family. They took care of their children Akshata and Rohan for many years without complaint and just out of unbridled love.

It’s always the smallest gesture, but when you think about it, it’s no small thing to the individual on the receiving end. If Sudha’s parents and her sister had not been so kind and supportive, Infosys would not have become what it is today.

small memories

If you are an entrepreneur, you believe that when you achieve something in life, it is essential to always be aware of the contributions of others in the process, even if you can easily take all the credit. Masu. That’s to be expected, so don’t discount the efforts of others by putting yourself on the list of “self-made” individuals.

Legendary cosmologist Carl Sagan recognized this interconnectedness in his field. He said, “If you want to make an apple pie from scratch, you have to first make a universe.”

I believe that what is true of a “self-made” apple pie may also be true of a “self-made” millionaire.

About Infosys:

Under the leadership of Narayana Murthy, Infosys pioneered a global delivery model and propelled the Indian IT industry to global success. The company was the first Indian company to be listed on Nasdaq, established India’s largest employee stock option program, and created many millionaires and billionaires. Infosys, which started at $250, is now a $18.38 billion company with a market capitalization of about $70 billion. Named one of the world’s most innovative, best-managed, respected, ethical and green companies by Time, Forbes and Fortune.

Author’s note:

The events narrated in this article are taken from Chitra Banerjee Diwakarni’s moving biography, The Uncommon Love. This book beautifully chronicles the journey of Sudha and Narayan Murthy, highlighting their unwavering dedication to each other and their shared dreams. We are deeply grateful to the authors for bringing this authentic and uplifting story to readers, highlighting the power of collaboration, and challenging the myth of self-made success.



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