The Art of Taking Informed, Calculated Risks

Today, most entrepreneurial ventures are born out of sheer passion. It’s a great thing too. But in 1966, when the news of his father’s death shook the young Azim Premji, the 21-year-old boy took a bold decision to give up his academic career at Stanford University, where he was studying engineering, and return home. He started from where his father (Muhammed Hashim Premji) left off, taking over the family business. Hashim was also an established businessman who incorporated Western Indian Vegetable Products Ltd., based out of Amalner a small town on the outskirts of Maharashtra.

A born leader, Azim soon diversified the company into manufacturing bakery fats, toiletries, hair care soaps, lighting products, and hydraulic cylinders. But at his heart, he always kept a boutique space for his engineering days at Stanford University. In the early 80s, when opportunities from the emerging IT industry came knocking on the doors, Azim was quick to pounce. He, in truth, took excellent advantage of the market gap left behind by the withdrawal of IBM from India. Even though it took decades of time and effort, he fulfilled his passion.

At the age of 16, Dhirubhai Ambani started his journey working as a Petrol Pump Attendant in Yemen. It’s important to reminisce that most Indian business leaders fought against the time and their fate. Perseverance worked, works, and will work. It is important to dream, wait for your opportunity and have a leap of faith in your skills and will. Yes, the risk is a part of your entrepreneurial journey, but I have never come across a successful business leader who shied away from taking risks. In fact, in a world powered by data, the term risk has gotten rid of its traditional meaning. We have decided to further inspire the entrepreneur inside you with this special issue based on entrepreneurs.
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