DARE - Because Entrepreneurs Do

Subhash Chandra, Chairman, Essel Group & Zee, possesses a repertoire of talent that makes him an asset to our country. The path breaking journey from his first business of vegetable oil to his present status as a media baron, this person has walked all this way with grit and perseverance. An exemplary entrepreneur, Subhash Chandra appeared on the Indian entrepreneurial horizon with his revolutionized business concepts

Subhash Chandra Chairman, Essel Group & Zee

How do you feel about being called the media mogul and being the inspiration to many aspiring entrepreneurs?
Ans: I feel humbled and extend my gratitude. I am especially pleased that my eventful and exciting journey as an entrepreneur acts as a catalyst in inspiring individuals who take up entrepreneurial ventures.

From your first business of vegetable oil unit to the latest Veria, what do you think is you’re the most important trait that has been helping you to keep going?
As a group, our belief has always been to explore and capitalize on opportunities that arise in the form of new businesses and by consolidating existing businesses. This is best exemplified in the pioneering initiatives taken up by the Essel Group. We believe that every business venture should have its own independent business model, and it’s imperative for every business vertical to achieve leadership or a strong number-2 position. In terms of traits, I believe that pioneering initiatives, venturing into the unexplored, a strong, dedicated human resource, and our commitment to our shareholders is what has enabled Essel Group to achieve its objectives over the years.

What or who was the inspiration behind the way you lead as an entrepreneur?
I take great pride in the entrepreneurial skills that I have imbibed from the biggest inspiration in my life - my grandfather, Shri Jagannath Goenka. I have always believed that a positive outlook and persistence are imperative skills needed to achieve success in any field.

What is your view on the Indian entrepreneurial scenario? How are Indian entrepreneurs performing? Can we say we have achieved something?
India stands at a very exciting economic phase. Social aspirations, global exposure, and favorable economic policies are factors that help the Indian entrepreneurial community. I am extremely happy to read
successful entrepreneurial stories on a consistent basis, especially about the achievements of first-generation entrepreneurs. 

Talking about your signature brand Zee, there have been a lot of TV channels making forays into this segment-what are the factors that are attributing to the sudden surge of interest into this space?
Currently, there is a herd mentality approach that is being followed by the new players in the broadcast sector. Without evaluating the pros and cons, a number of people want to enter this industry. In addition to the existing players, today there are probably more than 200 applications pending with the government. I personally and strongly believe that the broadcast industry needs stringent entry barriers and regulation.

How do you look at the present Indian media scenario? What opportunities are there for start-ups in the media and entertainment industry?
Countering the economic slowdown in 2009-10, I think we have come a long way. As an economy, we have grown in all areas of development. The sudden surge in disposable income and rural India consumption has further added to the growth story of India. I am happy that media and entertainment have also contributed significantly to the Indian economic growth. India is the third largest television market in the world and is growing further. Over the next five years, the television industry is expected to grow at a CAGR of 15 percent. For start-ups, there is definitely a huge opportunity. All they need to do is to first study the business environment, gauge the business viability, and accordingly, enter the market.

In relation to this, what has been your marketing strategy for earning good dividends and for you to be abreast of competitors?
As a group, our strategy is to always stay connected with market realities and to be able to fulfill consumer needs and changing preferences.

How do you hold the thread of managing profit and loss of each vertical of your giant and diversified enterprise? How do you manage them all?
Every company has an independent, robust business model. There is no doubt that group companies
do find synergies that help them mutually achieve their business objective. There is a conscious decision to improve the earnings, keeping the shareholder’s interest in mind. As a group, the endeavor is to
have sound principles of corporate governance, maintain transparency, and secure the trust of
our investors.

We would also like to know the reasons for you to enter into these verticals. Is opportunity the only reason for them all?
Entering into any business depends on many
factors. At Essel Group many launches have been
opportunities and gradual diversification of our business verticals.

How successful have you been in passing over your business acumen to your sons Punit Goenka and Amit Goenka?
I have been extremely categorical in my belief as the chairman of Essel Group that my first priority and commitment is towards the shareholders. I am sure both Punit and Amit carry forward the same philosophy in their independent business operations. I see both of them as professional leaders who run successful businesses.

What differences do you see between a first-generation entrepreneur and second-generation entrepreneur?
I believe that irrespective of the generation, an entrepreneur or business leader needs to explore and tap new business opportunities and innovate. He/she needs to be a motivator too.

What is your piece of advice to start-up entrepreneurs willing to venture into media and entertainment?
To be persistent, hardworking, and sincere in their endeavors, and to never stop asking questions no matter how trivial or irrelevant it may sound to them.

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