Business Today 14th January 2018 - Page 120

The Best Management Lesson I Learnt ‘Be Long-term Greedy’ Building a stable and sustainable organisation requires a very long-term outlook and focus on the bigger picture. When we started Edelweiss in 1996, we never thought where or how big we would be 21 years later. The only thought at the time was to thrive on the wave of privatisation (which was sweeping through not just Indian economy in general but specifically through the financial services space) by creating an organisation that was built on the ethos of quality, culture and strong risk management. BY RASHESH SHAH Chairman and CEO, Edelweiss I nitial Setbacks, Lessons for Life: When Venkat (my co- founder) and I started out, we were clear that we had to have capital of `1 crore to start with, primarily because that was the net-worth requirement for a category one mer- chant banker licence. We scraped through our savings, other people pitched in with small amounts, and I even convinced my parents to mortgage our house to raise the one crore fi- nally! As luck would have it, the day we were ready with the application, SEBI came up with a notification that increased the net-worth requirement to `5 crore. It was a devastating blow – it was as if the backbone of our entire business model 120 I BUSINESS TODAY I January 14 I 2018