Returning To A Family-Run Business After Studying Abroad

An overseas education for most Indians is unaffordable and naturally, the first thing that comes to mind is - Return on Investment. I had the good fortune of doing my undergrad at Pace University in the US and an MBA from Oxford University's Saïd Business School, but I am grateful that I had my family's backing to fund both degrees. But my experiences overseas, of not JUST the education, I am of the opinion that return on investment on education is something that is very very hard to calculate. But, when I give my rationale that one cannot put a sum total for all experiences, all I hear is, "Dude, for you it is easy to say - you're working in your family business." And for the same reason, I have constantly kept hearing, "Oh, what is the point in doing your MBA if you are going to work in your family business and that too why do you need to study overseas?"

Today the world is only getting closer by the day. Having a global network allows entrepreneurs to explore business opportunities in different parts of the world, not necessarily with their classmates. For example, if an Indian entrepreneur is looking at expanding their business overseas and has a classmate there, it becomes easier to be put in touch with the right people and also reduces the chances of being misled. Needless to say, the same applies the other way around too. Also, the demographics of several countries are very similar and that is why it helps to understand and share ideas on business and ways to approach business opportunities in different manners. It is clearly important for entrepreneurs to have a global network.

Exploring The Case-Based & Experiential Learning Methods

The immersion into the protagonist's shoes is probably the best experience that one gets to think like a leader in order to make decisions that are going to create an impact. It is definitely not the answer to always taking the right/correct decisions, but it is definitely a way to start thinking like a business owner. My father (he did the OPM course at HBS) and I keep discussing that one of our biggest learnings from the case-based method was that we realized Microsoft, Coca-Cola, Airbus, and several other companies had the same hiccups and problems that we face at a growth stage in our company - a true validation that we are on the right track and also the fact that it is not always hunky-dory at the best companies in the world.

Widen Perspective, Expand Opportunities For New Business Ideas

While studying abroad I got to interact with some of the brightest minds not only of foreign nationalities but also from India. And that is when I realized that financing overseas education in India can be extremely difficult. A few years ago, I came across an opportunity that allows Indian students to avail of an education loan, at extremely attractive rates, in the US if they have a co-signer who is a US citizen or Green Card holder. We have seen tremendous demand, especially in the past couple of years because many parents have been financially stressed due to the impact of Covid-19. To me, this was a great opportunity because I did see the need amongst several of my peers while I was outside India.

Bringing Global Thinking to India

Needless to mention, right now India is an extremely hot innovation hub and a high-growth consumer economy. After the advent of Flipkart, the start-up boom has been huge with more and more of the youth aspiring to be the next big thing, which is amazing because more competition gives rise to more innovation. India has seen the likes of Anvi Biyani (founder of Foodhall), Kavin Mittal (Founder of Hike Messenger), and many more who have studied overseas to come back to India and take their family legacy forward by innovating and creating new businesses.

Independent Living & Journey To Adulthood

Lastly, according to me, those students coming from family business backgrounds tend to be in their comfort zone or some have always lived a very sheltered life. Therefore, going abroad and living without some comforts/luxuries enables them to evolve as individuals because they start doing things they have not done before - things as small as paying bills on time, doing laundry, cooking, cleaning, etc. To me, those were some of the bigger learnings that I walked away with and have shaped me into a more confident individual who can figure out a way to survive in this ever-growing highly competitive world. Let's be real sometimes, what is taught in the classroom can be taught at all colleges in the world and even tends to get obsolete soon. Yet, the survival skills that one learns outside the classroom are those that definitely stick forever.