4 - Taking the entrepreneurial plunge - Falguni Nayar on entrepreneurship, career management, and leadership

Falguni speaks about how her childhood shaped her personality and her wiring in the years to come. She speaks about how she and her brother were treated equally across various aspects of life and the independence parents gave her to try different things (trekking, traveling to Kashmir, going on an exchange programme etc)

Falguni speaks about how she made some early career choices post IIMA. She speaks about how she was independent in the way she went about making decisions. She also speaks about the context in which the transition from Consulting to Banking happened when she got a call from Kotak on her children’s’ 3 year birthday.

Falguni speaks about how she juggled her family and her career at various points in time. She specifically speaks about the Maternity transition and says that women shouldn’t treat it as a P&L discussion where they are trading off the income with the opportunity cost of being with the child. She urges the women to look it as an investment in oneself that pays out over the future.

Falguni speaks about the phase of life when she decided to become and entrepreneur after 25+ years post IIMA and after a successful run at Kotak. She also speaks about other businesses she considered (Professionalizing Nursing Homes, Creating a Market for second homes to name a couple) before proceeding with building out Nykaa.

Falguni speaks about the key shifts that she has made to her leadership style as she moved from a Senior Leadership role in an institution like Kotak to starting Nykaa from the ground. She specifically refers to the poem Ithaka that had daughter had shared with her at that point. It talks about the criticality of focusing on the journey than the destination.

Falguni speaks about the key shifts she has had to make as Nykaa moved from a start-up phase (where the proof of concept was still being established) to a scale up phase. She speaks about understanding the varying profile of the customer as the organization scales and speaks about how to get the organization ready for scale.

Falguni speaks about how she thinks about managing Investors in the context of her desire to build a long term sustainable business at Nykaa. She talks about the need to be transparent in the communication with investors on not just the metrics of the business but the philosophy with which you are building the business.

Falguni speaks about the criticality of being focused on what the consumer wants and using that as the guide for coming up with the vision and the aspiration as you grow. When you are often the leader in the market, you don’t have the option of looking at competition and setting the goalpost. She speaks about how she has tried to keep her focus on consumer needs as she has scaled up.