Rohan Murthy interviews dad NR Narayana Murthy on starting up, sacrifices, values, and more.
At the Moneycontrol Startup Conclave 2023, Narayana Murthy, the founder of Infosys, spoke on stage with his son Rohan Murthy, the founder of Soroco, in an open discussion.
The IIT alumnus was questioned about his decision to pursue entrepreneurship. He said, “Because I believe the power of entrepreneurship, creating jobs, translating ideas into jobs, translating ideas into wealth, and increasing taxes paid to the government is the only way society can remove its poverty.”
He emphasized, “They must have the power of imagination,” when asked to describe the essential qualities of entrepreneurs. They must feel at ease experimenting and trying something novel. The ability to attain the goal is fueled by passion, and a leader needs to have a clear set of values to do this.
The recruiting of talent is the next crucial stage for any new firm. “My focus was on competence,” he advised. Nothing will happen if it is missing. The value system comes in second. In the beginning, everyone must have complete faith in one another. Your comments are the only thing the workers have. You must be genuine to do this. There is a good chance that people will buy into your vision when your team works cohesively together; thus, that vision must benefit everyone.
He makes the following recommendation regarding organizational structure and leadership: “Every beginning company needs just one leader. It is impossible to have two or three leaders. There is just one leader. As he continues, “Once the managerial phase comes in, you invite managers to create systems and processes, establish protocols, invite independent directors, and have a good governance mechanism.”
All startup entrepreneurs experience crippling uncertainty and self-doubt on a regular basis. Mr. Narayana Murthy discusses how to address that and expresses his feelings over his company’s IPO. “We were concerned about whether we would succeed or fail when we went public. He offered this advice for dealing with difficult situations at work and at home: “You should not panic. I used to joke with the employees in the office and talk to them about how God is with us and how other people had experienced similar situations. Sometimes reason alone is insufficient. There are times when one must put rationality aside, practice faith, and have faith in God.
He explained how choosing a career path wasn’t as parent-regulated back then as it is now, reflecting on his background. They didn’t ask us, “What are you going to do?” back then, he remarked. That setting somehow offered us a lot of flexibility. Mr. Murthy expressed his gratitude for Mrs. Sudha Murthy, who was present at the Moneycontrol Startup Conclave 2023, noting her important contribution to the early development of his company. In his words, “My wife stood by me when my colleagues were unsupportive.”
Mrs. Murthy discussed her experiences as Murthy’s first angel investor during the discussion. Living with a successful man can be quite difficult, she says in the story. They are not regular people; they exhibit oddities and lack common sense at home, saving it only for the workplace. These accomplished people frequently have extremely high expectations, necessitating simultaneous multitasking from their spouses. They anticipate their partners to serve as their wives, secretaries, financial managers, nannies, advisors, and a variety of other roles, she continues. Their well-being could suffer greatly if they perform poorly in any of these responsibilities.
When asked for his opinion on the idea of good governance by a number of aspiring startups at the Moneycontrol Startup Conclave 2023, Murthy responded, “Put the interest of the community ahead of your personal interest, in the short and mid-run, and you will emerge a winner in the long run. You either subscribe to this philosophy or you don’t.
