In Quest of Svelte Success "I love startups as they are challenging, and if handled properly, pay off really well," says Shilpa Shetty.
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Shilpa Shetty Kundra's entrepreneurial journey began with being the co-promoter of IPL team Rajasthan Royals with her husband Raj Kundra. Becoming a mother seems to have taught Shilpa Shetty Kundra, the art of managing a lot of things together.
This actor-entrepreneur is having some real great ventures she believes in. She has been great at launching Yoga DVDs. She also believes in having a great mind-body connection which she resonates with her IOSIS spa and wellness chain.
With husband Raj Kundra and Bollywood superstar Akshay Kumar, she launched Best Deal TV, a first celebrity-driven 24/7 home shopping TV channel. Last year, she also entered the consumer durables space with the launch of mobile phones named after her son, Viaan. In an interaction with Entrepreneur, she shares her vision as an entrepreneur.
On a scale of 1-10, how do you rate yourself as an entrepreneur?
Had you asked me five years ago, it would have been one, but now after five years of creating various brands I can safely say seven.
How good are you at coming up with solutions when it comes to solving business problems?
I am a very practical person I think as a customer I put myself in their shoes. I always put forward my points in board meetings where I believe I have a valid solution. However, we have trained professionals who can validate the same.
You have some real interesting companies in your portfolio. What factors do you consider while planning an investment?
I love start-ups as they are challenging, and if handled properly, pay off really well. Not saying that you will hit the bull's eye every time, but a calculated risk can give you a high reward. I always invest in people – if you don't have a confident and intelligent team, your product or service would fail not matter how good it is. My investment criterion is simple as we have a billion consumers in India, what we can offer to them that will make a difference. I am investing in the consumer market and service industry.
Who is your idol when it comes to business management?
I'm amazed at what Kiran Mazumdar-Shaw has done, Victoria Beckham has also built her brand well. Separately, I love motivational quotes of Warren Buffet the best being: "Never depend on a single income. Make Investments to create a second source."
What are your plans for this year?
We are ready with expanding my existing ventures Best Deal TV, IOSIS and Viaan Industries.
(This article first appeared in the Indian edition of Entrepreneur magazine (February 2016 Issue).