I'd written a piece titled Bschool salaries: A reality check two years ago. Am looking to update it now and want to hear from you guys out there who've just passed out of bschool: is the spurt in salaries for real?
IIM A has put out an average domestic salary figure of Rs 17.85 lakhs p.a. this year. That's 40% more than the year 2007 (Rs 13.6 lakhs). And the 2007 figure was 40% more than the previous year 2006! (Rs 9.72 lakhs)
IIM A is only an indicative example, the same trend is seen all across bschools. Just a quick example: Shailesh J mehta SOM has declared an average salary of Rs 13.96lakhs p.a. in 2008 (44%jump over last year)
Is it really possible that bschool salaries are growing 40% y-o-y? I'm sure at least some of it is thanks to creative accounting?? What are the latest white lies placement committees are telling to stay ahead in the salary race?
Drop me a line at rashmi_b@yahoo.com if you'd like to share what you know. Especially the component of variable pay... If the 'average' is Rs 17.85 lakhs p.a. what I want to know is what's your monthly take home pay?
This info is especially relevant in light of the fee hike by IIMs! The idea is not to point fingers but give aspirants a sense of what lies ahead - minus the hype.
Thursday, April 17, 2008
Wednesday, April 16, 2008
What's in a name?
Inspired by Malcolm Gladwell's 'Tipping Point' chapter on baby names I have an upper middle class India version:
The most popular name for girls these days are:
a) Simran
b) Isha/ Ishita/ Ishani
c) Anushka/ Anusha
The most popular name for boys these days is... drumroll.. Aditya! Followed by Aman and Aryan.
'A' is the most popular letter for boy names.
And complicated Sanskrit sounding names are all the rage - don't know how many are real and how many invented. Perhaps all the new baby name books are responsible. Here's a sample of some of the most unusual ones I found (in case any of you soon-to-b is looking!):
- Rwik
- Yudhajeet
- Sidhisha
- Balaharihar
- Mrigankshekhar
- Vamshikha
- Vedshri
- Shrujal
- Hrudansh
- Advik
- Shubhecha
- Sanjuti
- Arikta
- Argaja
- Rushaan
- Mannan
- Avishka
- Aryamitra
- Mannkushi
- Joushura
- Pratyay
- Vartul
- Rameesha
- Poorvija
-Alinda
- Nishyavitha
- Arkoprabha
- Yatharth
and... Blessly
In case you're wondering, all the names and my analysis is based on the pamphlet distributed at Apeejay school, Nerul on the primary section 'Appreciation Day' held yesterday.
Yeah they don't call it 'annual day' or 'prize distribution' like in the old days because there are no exams till class 5. So no question of distributing certificates to the kids who stood 1st, 2nd and 3rd!
334 kids were on stage and we parents had to keep ourselves amused through various mandatories like the Principal's speech. So now you know the secret... Would be interesting to collect data from various schools and cities and do an in-depth study!
I do think Simran is probably the result of DDLJ. And Isha and Anushka too are celeb-inspired. The kids were all 6-10 years old which is just around the time the likes of Esha Deol and Anushka Shankar came into the public eye.
As for the complicated new names in fashion the interesting thing is that in New Bombay parents are trying to be unique, but Indian. I am sure if the same survey were to be conducted in Bandra or Andheri you'd find more globally acceptable Anglo-inventions like Tia, Anya, Sonya and so on. But I don't know for sure.
Incidentally, my daughter played the role of a 'tree'. She was on stage for a full half hour but we spent 20 minutes trying to figure out which tree she was. Finally I realised it was the one swaying the most.
But never mind - making the tree out of thermacole and cardboard was a lot of fun. We rescued it and it's now making her room a more colourful place.
Just like all these names. The days of Ram, Shyam, Seeta, Geeta seem to be over but you never know. If retro clothing can return, so could retro in names!
The most popular name for girls these days are:
a) Simran
b) Isha/ Ishita/ Ishani
c) Anushka/ Anusha
The most popular name for boys these days is... drumroll.. Aditya! Followed by Aman and Aryan.
'A' is the most popular letter for boy names.
And complicated Sanskrit sounding names are all the rage - don't know how many are real and how many invented. Perhaps all the new baby name books are responsible. Here's a sample of some of the most unusual ones I found (in case any of you soon-to-b is looking!):
- Rwik
- Yudhajeet
- Sidhisha
- Balaharihar
- Mrigankshekhar
- Vamshikha
- Vedshri
- Shrujal
- Hrudansh
- Advik
- Shubhecha
- Sanjuti
- Arikta
- Argaja
- Rushaan
- Mannan
- Avishka
- Aryamitra
- Mannkushi
- Joushura
- Pratyay
- Vartul
- Rameesha
- Poorvija
-Alinda
- Nishyavitha
- Arkoprabha
- Yatharth
and... Blessly
In case you're wondering, all the names and my analysis is based on the pamphlet distributed at Apeejay school, Nerul on the primary section 'Appreciation Day' held yesterday.
Yeah they don't call it 'annual day' or 'prize distribution' like in the old days because there are no exams till class 5. So no question of distributing certificates to the kids who stood 1st, 2nd and 3rd!
334 kids were on stage and we parents had to keep ourselves amused through various mandatories like the Principal's speech. So now you know the secret... Would be interesting to collect data from various schools and cities and do an in-depth study!
I do think Simran is probably the result of DDLJ. And Isha and Anushka too are celeb-inspired. The kids were all 6-10 years old which is just around the time the likes of Esha Deol and Anushka Shankar came into the public eye.
As for the complicated new names in fashion the interesting thing is that in New Bombay parents are trying to be unique, but Indian. I am sure if the same survey were to be conducted in Bandra or Andheri you'd find more globally acceptable Anglo-inventions like Tia, Anya, Sonya and so on. But I don't know for sure.
Incidentally, my daughter played the role of a 'tree'. She was on stage for a full half hour but we spent 20 minutes trying to figure out which tree she was. Finally I realised it was the one swaying the most.
But never mind - making the tree out of thermacole and cardboard was a lot of fun. We rescued it and it's now making her room a more colourful place.
Just like all these names. The days of Ram, Shyam, Seeta, Geeta seem to be over but you never know. If retro clothing can return, so could retro in names!
Friday, April 11, 2008
Welcome to Reservistan
Unable to fall asleep, I switched on the TV and found the SC judgement on OBC reservations dominating the news. The strange part was two different channels had two different versions of the same news.
CNN IBN claims IIMs are delaying admission letters by a week. And IIM Lucknow will implement the quota after 3 years.
Times Now says that Supreme Court is split on the question of whether quotas apply to post grad institutes. 3 out of 5 have ruled against, and hence the reservations do not apply to IIMs and AIIMS. The same view is reflected on rediff.com by lawyer K Venugopal.
But there's more confusion.
The creamy layer is excluded but it is unclear who will define this layer and ensure the provision is implemented. There is also no clarity on important issues like:
- Does 27% reservation mean reservation of existing seats or will seats be increased as per declarations made by the government when this row first broke out in 2006.
- What will be the relaxation of entry criteria for OBCs? Will it be MANDATORY to fill these 27% seats even if an IIT is unable to get enough candidates who fulfil the relaxed criteria?
- Reservations should not be 'in perpetuity'. So how about at least reviewing SC/ ST reservations, to see the impact they have made so far. And also the OBC reservations implemented by some states?
Personally I do not believe reservation for OBCs is justified - if creamy layer is excluded then may as well make reservations for ALL on economic criteria alone. If we are to go the reservation route in the first place.
But if the Supreme Court has made its ruling, we have to accept it. And we have to figure out how to implement the quota in the spirit of the verdict, which is to uplift the underprivileged.
This would mean remedial measures and extra all round attention. Some would say it can't be done, that intervention is required at primary school level and not at age 16. 17. But let's say because of this verdict we have to try to compensate at college instead.
I think some % of the students will rise to the challenge. And they will become part of the mainstream as far as jobs and peers go. The rest will be absorbed by the government sector where OBC reservation is already in place...
Will the quality of the institutions suffer? Well, it might but I just can't get worked up about it anymore. Market forces will decide.
If quality suffers a great deal, students and recruiters will migrate elsewhere. Private institutions will blossom to fill the vaccum. The government might then say, private institutes also have to reserve seats. And also private companies. That may or may not be upheld by the courts.
The merry go round will continue. Whether 'social justice' can be engineered thus I don't think we will know - in our lifetime.
CNN IBN claims IIMs are delaying admission letters by a week. And IIM Lucknow will implement the quota after 3 years.
Times Now says that Supreme Court is split on the question of whether quotas apply to post grad institutes. 3 out of 5 have ruled against, and hence the reservations do not apply to IIMs and AIIMS. The same view is reflected on rediff.com by lawyer K Venugopal.
But there's more confusion.
The creamy layer is excluded but it is unclear who will define this layer and ensure the provision is implemented. There is also no clarity on important issues like:
- Does 27% reservation mean reservation of existing seats or will seats be increased as per declarations made by the government when this row first broke out in 2006.
- What will be the relaxation of entry criteria for OBCs? Will it be MANDATORY to fill these 27% seats even if an IIT is unable to get enough candidates who fulfil the relaxed criteria?
- Reservations should not be 'in perpetuity'. So how about at least reviewing SC/ ST reservations, to see the impact they have made so far. And also the OBC reservations implemented by some states?
Personally I do not believe reservation for OBCs is justified - if creamy layer is excluded then may as well make reservations for ALL on economic criteria alone. If we are to go the reservation route in the first place.
But if the Supreme Court has made its ruling, we have to accept it. And we have to figure out how to implement the quota in the spirit of the verdict, which is to uplift the underprivileged.
This would mean remedial measures and extra all round attention. Some would say it can't be done, that intervention is required at primary school level and not at age 16. 17. But let's say because of this verdict we have to try to compensate at college instead.
I think some % of the students will rise to the challenge. And they will become part of the mainstream as far as jobs and peers go. The rest will be absorbed by the government sector where OBC reservation is already in place...
Will the quality of the institutions suffer? Well, it might but I just can't get worked up about it anymore. Market forces will decide.
If quality suffers a great deal, students and recruiters will migrate elsewhere. Private institutions will blossom to fill the vaccum. The government might then say, private institutes also have to reserve seats. And also private companies. That may or may not be upheld by the courts.
The merry go round will continue. Whether 'social justice' can be engineered thus I don't think we will know - in our lifetime.
Monday, April 07, 2008
CAT goes online - II
Clarification on IIM CAT website
In view of increasing number of candidates IIMs are considering various alternatives for modifying the process of conducting CAT, if necessary. Online testing is one of those alternatives. The proposals are at the preliminary stage of discussion.
So whether it will happen in November 2009, or 2010, or even happen at all is still very open.
I spoke to John Gabriel, CMO, of IMS Learning resources to get a sense of how going online could affect students and their test prep. This is the gist of what he had to say:
CAT going online has several advantages but a few disadvantages as well.
It is a huge logistical exercise. When XAT tried an online test a few years ago it failed because they had no generator back up (electricity failure being a common problem in India!). But then CAT will not be a simultaneous but a staggered test.
Benefits:
- If they adopt the computer adaptive model (which I think they will), it will be a better way of assessing students. You can't do well just by chance or 'tukka'.
- The current D-day system creates a lot of stress for students. Some students fall sick or simply have a bad day.
- Greater flexibility for students is always welcome, they can schedule test according to exams or any other contingencies
Of course we don't know several things:
- Will the CAT score be provided right after the test, as in GMAT? That would be a major advantage because you know where you stand. If you score 98 percentile you need not give many other exams and apply to more colleged 'just in case'. The student would save quite a lot of money.
- Are you allowed to repeat the exam, say one month later? This would give those who have not done so well a second chance.
Challenges:
- The number of students taking CAT is growing year on year by about 30%. Most of the growth is coming from small towns.
Currently CAT is held in 23-24 centres. Will the online CAT also be held across that many centres? If not, the cost of test goes up for small town students. They will have to travel to the exam centre.
- Also, would everyone have access to practising on a computer? If not they will have to pay and use cybercafes.
The question is: how many students, even in metros are really computer savvy. Adapting to change will take time.
eg There are long (and boring) reading comprehension passages. Right now you can underline some portions, flip the page back and forth. That is what we are used to. Reading long passages on screen and scrolling up and down is difficult
Impact on coaching classes
IMS will still get students to their classroom courses because:
1) Discipline - students wish to come to a class, where there are peers and have a study pattern of some kind to motivate them
2) Conceptual clarity - they wish to clarify basics from peers and a live teacher.
3) Readiness: Application of interlinked concepts within a problem and improved test preparedness
4) Testing - IMS already does extensive SIMCATs and trains 50% of the market for GMAT (which is an online test)
So there should not be a problem in providing online modules which students can take at home and get instant feedback, performance tracking etc.
I would add: The biggest challenge is in tackling numbers. Currently the only other online management exam is NMAT. But they I just discovered have/ had 2 versions: a written test and acomputer based one. Students seem to feel they have a better chance of admissions with the written version.
Am not even sure if there is an online version anymore as it is not mentioned anywhere on the NMIMS website A call to the institute confirms that the NMAT for full time MBA is a written test. And they did not seem to know what happened to the online option.
That leaves us with BITSAT. In 2007 BITSAT was taken by close to 1 lakh students as an online test, in a staggered manner. This was 30% more than the 68, 466 who took BITSAT in 2006.
The test was conducted in 16 centres across 35 days. Not clear who is the technical partner.
And really, NUMBERS is what makes this entire exercise so staggering. In 2007 655, 506 GMAT scores were reported (no of test takers is less as many take it more than once). The nos taking GMAT from India is close to 14,000 and rising.
In India, GMAT is administered by Prometric across 9 centres.
As per wikipedia, GMAT also administers written tests in 'international locations where an extensive network of computers has not yet been established'.But I don't think it's practical to have a hybrid model for CAT...
I do think this is a difficult to implement idea. But if done correctly, it will ultimately benefit students.
Anyways, you are safe if giving CAT this year. Aage dekhte hain hota hai kya!
In view of increasing number of candidates IIMs are considering various alternatives for modifying the process of conducting CAT, if necessary. Online testing is one of those alternatives. The proposals are at the preliminary stage of discussion.
So whether it will happen in November 2009, or 2010, or even happen at all is still very open.
I spoke to John Gabriel, CMO, of IMS Learning resources to get a sense of how going online could affect students and their test prep. This is the gist of what he had to say:
CAT going online has several advantages but a few disadvantages as well.
It is a huge logistical exercise. When XAT tried an online test a few years ago it failed because they had no generator back up (electricity failure being a common problem in India!). But then CAT will not be a simultaneous but a staggered test.
Benefits:
- If they adopt the computer adaptive model (which I think they will), it will be a better way of assessing students. You can't do well just by chance or 'tukka'.
- The current D-day system creates a lot of stress for students. Some students fall sick or simply have a bad day.
- Greater flexibility for students is always welcome, they can schedule test according to exams or any other contingencies
Of course we don't know several things:
- Will the CAT score be provided right after the test, as in GMAT? That would be a major advantage because you know where you stand. If you score 98 percentile you need not give many other exams and apply to more colleged 'just in case'. The student would save quite a lot of money.
- Are you allowed to repeat the exam, say one month later? This would give those who have not done so well a second chance.
Challenges:
- The number of students taking CAT is growing year on year by about 30%. Most of the growth is coming from small towns.
Currently CAT is held in 23-24 centres. Will the online CAT also be held across that many centres? If not, the cost of test goes up for small town students. They will have to travel to the exam centre.
- Also, would everyone have access to practising on a computer? If not they will have to pay and use cybercafes.
The question is: how many students, even in metros are really computer savvy. Adapting to change will take time.
eg There are long (and boring) reading comprehension passages. Right now you can underline some portions, flip the page back and forth. That is what we are used to. Reading long passages on screen and scrolling up and down is difficult
Impact on coaching classes
IMS will still get students to their classroom courses because:
1) Discipline - students wish to come to a class, where there are peers and have a study pattern of some kind to motivate them
2) Conceptual clarity - they wish to clarify basics from peers and a live teacher.
3) Readiness: Application of interlinked concepts within a problem and improved test preparedness
4) Testing - IMS already does extensive SIMCATs and trains 50% of the market for GMAT (which is an online test)
So there should not be a problem in providing online modules which students can take at home and get instant feedback, performance tracking etc.
I would add: The biggest challenge is in tackling numbers. Currently the only other online management exam is NMAT. But they I just discovered have/ had 2 versions: a written test and acomputer based one. Students seem to feel they have a better chance of admissions with the written version.
Am not even sure if there is an online version anymore as it is not mentioned anywhere on the NMIMS website A call to the institute confirms that the NMAT for full time MBA is a written test. And they did not seem to know what happened to the online option.
That leaves us with BITSAT. In 2007 BITSAT was taken by close to 1 lakh students as an online test, in a staggered manner. This was 30% more than the 68, 466 who took BITSAT in 2006.
The test was conducted in 16 centres across 35 days. Not clear who is the technical partner.
And really, NUMBERS is what makes this entire exercise so staggering. In 2007 655, 506 GMAT scores were reported (no of test takers is less as many take it more than once). The nos taking GMAT from India is close to 14,000 and rising.
In India, GMAT is administered by Prometric across 9 centres.
As per wikipedia, GMAT also administers written tests in 'international locations where an extensive network of computers has not yet been established'.But I don't think it's practical to have a hybrid model for CAT...
I do think this is a difficult to implement idea. But if done correctly, it will ultimately benefit students.
Anyways, you are safe if giving CAT this year. Aage dekhte hain hota hai kya!
CAT goes online
Ending months of speculation the IIMs recently annnounced that the CAT exam is going online from November 2009.
Now this raises several issues. As the TOI notes:
If the exam goes online, not all students will be able to take the exam on the same day as is the case now. The exam will have to be conducted in staggered batches within a window period of a few months. The other change will be that instead of the current single exam paper, the online test will have several different papers of the same level of difficulty.
The report also notes that the exam will be 'similar' to GMAT and GRE except that the results will not appear instantly.
However, I am not sure if that is factually correct. The GMAT and GRE follows a Computer Adaptive model. As the Princeton Review explains:
The computer adapts the test to how you answer the questions. You’ll start off the test with a question of medium difficulty - if you answer it correctly, question number two will get a bit more challenging. Get that one right, and question number three gets harder still. The opposite is true as well. This system continues until you get to the end of the section and your ability level on that subject is determined.
Will the CAT also go the computer adaptive way or will it be a random set generated each time from a master bank of questions? We don't know yet.
Change is always difficult to accept and there may be some hiccups. But I am sure a way will be found to ensure the test is 'fair', computer adaptive or otherwise
Currently there are two admission tests in India which are solely online:
a) BITSAT - for BITS Pilani, Goa (and now Hyderabad)
b) NMAT - for NMIMS
Any of you who've experienced these tests, pls do drop me a line at rashmi_b at yahoo.com with your contact number. Folks who've taken GRE/ GMAT - I'd like to hear from you as well.
And of course, all are welcome to join in the discussion in the comments!
Now this raises several issues. As the TOI notes:
If the exam goes online, not all students will be able to take the exam on the same day as is the case now. The exam will have to be conducted in staggered batches within a window period of a few months. The other change will be that instead of the current single exam paper, the online test will have several different papers of the same level of difficulty.
The report also notes that the exam will be 'similar' to GMAT and GRE except that the results will not appear instantly.
However, I am not sure if that is factually correct. The GMAT and GRE follows a Computer Adaptive model. As the Princeton Review explains:
The computer adapts the test to how you answer the questions. You’ll start off the test with a question of medium difficulty - if you answer it correctly, question number two will get a bit more challenging. Get that one right, and question number three gets harder still. The opposite is true as well. This system continues until you get to the end of the section and your ability level on that subject is determined.
Will the CAT also go the computer adaptive way or will it be a random set generated each time from a master bank of questions? We don't know yet.
Change is always difficult to accept and there may be some hiccups. But I am sure a way will be found to ensure the test is 'fair', computer adaptive or otherwise
Currently there are two admission tests in India which are solely online:
a) BITSAT - for BITS Pilani, Goa (and now Hyderabad)
b) NMAT - for NMIMS
Any of you who've experienced these tests, pls do drop me a line at rashmi_b at yahoo.com with your contact number. Folks who've taken GRE/ GMAT - I'd like to hear from you as well.
And of course, all are welcome to join in the discussion in the comments!
Thursday, April 03, 2008
No more IITs, we need Indian Institute of Talent
Sorry to be cynical about it, but this whole announcement of 4 new IITS and 6 new IIMs is nothing more than an election year carrot for middle class India.
First of all, do we need more IITs and IIMs in this day and age? This is not the 1960s or 70s when the concept of management or engineering education was a new one. And hence the government played the role of catalyst, evangelist and capitalist - all in one.
Now, it's more like mere neighbouring state mein ek IIT hai, mujhe bhi chahiye. Jaise Vijay Sales mein LCD TV dekh kar aayr aur socha, ek din hamare ghar mein bhi hoga.
Today there are 1600 engineering colleges and 1000 + bschools in India. The demand for these courses is being met adequately by private enterpreneurs. You can dispute the quality of many of these institutes but the thing to do then is to institute mechanisms to improve that quality.
"Building one more quality institute' will not address the problem. Assuming you can genuinely build quality - not just affix the tag IIM onto a good looking campus and take in all the wait listed students off the existing IIMs.
Speaking of mechanisms AICTE urgently needs to a makeover. The class bully cum school monitor approach is clearly not working. We need a regulatory body, but one which is effective, impartial and recognises that excellence is not just about square feet of campus area but academic integrity and intellectual capital.
So should the government completely exit higher education? I'm not saying that. But I think its role has to be more of playing the pioneer, of entering new and virgin territories.
So a National Law School University was an excellent idea and several more such institutes have come up along the same lines. This has certainly resulted in more bright young people taking up law as a career.
Let's take education as an example of a career the government could pick up and invest in. If you set up an IIT-IIM-NID like instiute of excellence where entry is based on a prestigious national entrance exam, I am sure that within 5 years the teaching profession as a whole would become respectable.
And there would be recruiters willing to pay attractive salaries to these graduates.
But going back to the whole concept of IITs and IIMs, I think the time has come to abandon this compartmentalised approach. Let's recognise that most students who join these institutes are not doing so out of deep interest in technology or management. They are in it for the chhaapa and the placement.
The situation is especially bad in case of IITs because the students are 17-18 years old. And they've slogged so hard to get in to the institute, many have little interest in what they actually study on campus.
So if I were the government I would set up an IIT which is an Indian Institute of Talent. You come in, get exposure to a number of different subjects (engineering, science, commerce and arts) and then in your 3rd year choose a
specialisation in one or the other subject which turns you on. Basically, the American university model where undergraduate education is all about choices. Not 'the best course I could get in with my marks'.
Come to think of it, we do not have any institution in India where Arts, Commerce, Science, Engineering, Design, Music, Medicine and Management co-exist on a single campus. At best we put up techno campuses where a medical, dental and engineering may co-exist.
The IITs are in fact the only technical institutes with Humanities departments but these depts don't enjoy the same status and importance as others because an undergrad cannot major in these subjects.
Imagine how much human potential would be freed if we de-linked 'intelligence' from the study of technical subjects. Left to themselves, we would find students who choose to major in organic chemistry out of love for the subject, not JEE rank.
And maybe we wouldn't need more IIMs to escape to... after graduating in 'I never cared for this' kind of subjects!
First of all, do we need more IITs and IIMs in this day and age? This is not the 1960s or 70s when the concept of management or engineering education was a new one. And hence the government played the role of catalyst, evangelist and capitalist - all in one.
Now, it's more like mere neighbouring state mein ek IIT hai, mujhe bhi chahiye. Jaise Vijay Sales mein LCD TV dekh kar aayr aur socha, ek din hamare ghar mein bhi hoga.
Today there are 1600 engineering colleges and 1000 + bschools in India. The demand for these courses is being met adequately by private enterpreneurs. You can dispute the quality of many of these institutes but the thing to do then is to institute mechanisms to improve that quality.
"Building one more quality institute' will not address the problem. Assuming you can genuinely build quality - not just affix the tag IIM onto a good looking campus and take in all the wait listed students off the existing IIMs.
Speaking of mechanisms AICTE urgently needs to a makeover. The class bully cum school monitor approach is clearly not working. We need a regulatory body, but one which is effective, impartial and recognises that excellence is not just about square feet of campus area but academic integrity and intellectual capital.
So should the government completely exit higher education? I'm not saying that. But I think its role has to be more of playing the pioneer, of entering new and virgin territories.
So a National Law School University was an excellent idea and several more such institutes have come up along the same lines. This has certainly resulted in more bright young people taking up law as a career.
Let's take education as an example of a career the government could pick up and invest in. If you set up an IIT-IIM-NID like instiute of excellence where entry is based on a prestigious national entrance exam, I am sure that within 5 years the teaching profession as a whole would become respectable.
And there would be recruiters willing to pay attractive salaries to these graduates.
But going back to the whole concept of IITs and IIMs, I think the time has come to abandon this compartmentalised approach. Let's recognise that most students who join these institutes are not doing so out of deep interest in technology or management. They are in it for the chhaapa and the placement.
The situation is especially bad in case of IITs because the students are 17-18 years old. And they've slogged so hard to get in to the institute, many have little interest in what they actually study on campus.
So if I were the government I would set up an IIT which is an Indian Institute of Talent. You come in, get exposure to a number of different subjects (engineering, science, commerce and arts) and then in your 3rd year choose a
specialisation in one or the other subject which turns you on. Basically, the American university model where undergraduate education is all about choices. Not 'the best course I could get in with my marks'.
Come to think of it, we do not have any institution in India where Arts, Commerce, Science, Engineering, Design, Music, Medicine and Management co-exist on a single campus. At best we put up techno campuses where a medical, dental and engineering may co-exist.
The IITs are in fact the only technical institutes with Humanities departments but these depts don't enjoy the same status and importance as others because an undergrad cannot major in these subjects.
Imagine how much human potential would be freed if we de-linked 'intelligence' from the study of technical subjects. Left to themselves, we would find students who choose to major in organic chemistry out of love for the subject, not JEE rank.
And maybe we wouldn't need more IIMs to escape to... after graduating in 'I never cared for this' kind of subjects!
Friday, March 28, 2008
Song and dance shows: the next level
How many can we take? The answer is -more than you'd think. All it takes is a bit of imagination.
Rock n Roll Family on Zee TV is one fine example. It's the same 'doll up and put your best foot forward' variety of show. The difference is this is a family show. I don't mean family viewing but family performing. And the most interesting thing is it's THREE generations on stage together.
So we have the Bhalke family from Indore where dada sports hairgel and a Metallica tshirt while dadi wears a skirt (ankle length, but still!). And the Patel family from Ahmedabad whose performance is on the theme of being able to exchange your wife for a new one. Nothing perverted, just the real life wife walking out of a cupboard in a shiny silver costume showing off 6 inches of her midriff.
You would not wear that and walk down C G Road but all is fair on national television.
It's amazing how we seem to have loosened up as a country. These are all regular, not-so-Westernised families from Jaipur, Indore, UP and so on. But they lose their inhibitions on stage. They flirt shamelessly with the judges, and debate on saali being aadhi or poori gharwali. All scripted for sure but there is no sharam or lihaaj in either the banter or the matkas and jhatkas.
Another nice touch is having a 'family' as the judges - Ajay Devgan, Kajol and Tanuja. And before the judges award points each family must decide where it stands by climbing up a series of steps labelled 1-10. Meaning agar aapko apni kabiliyat ka andaaz hai tabhi to doosre bhi aapko appreciate karenge!
Enough said. I don't know if the 'best' family will win because the one of the few who got 9 points today bagged honours not for dancing well but a Taare Zameen Par tearjerker moment. The overall tone of this show is TZP actually, as against other reality shows where bitching and backbiting is used to retain viewer interest.
At least we know these judges won't be giving press conferences badmouthing each other :)
On the other end of the spectrum is song and dance shows using professionals - like Nach Baliye and Jhalak Dikhla Ja. Now there's Dhoom Macha De, which is also very watchable. This show features a bunch of semi forgotten stars competing to be crowned the best live performer in India.
And the mix of interesting themes, enthusiastic and well put together performances and endearing judges makes for good television. Devang Patel's humorous version of 'Chalte Chalte, mujhe koi mil gaya tha' and Richa Sharma's rendition of the ghazal 'Aaj jaane ki zid na karo' were both outstanding.
When we were kids there was a tradition of holding a variety entertainment show in our building basement on a makeshift stage, every 26th Jan and 15th August. Now it seems all the world's a stage and anyone can be a player.
No basements anymore, only living rooms.
Rock n Roll Family on Zee TV is one fine example. It's the same 'doll up and put your best foot forward' variety of show. The difference is this is a family show. I don't mean family viewing but family performing. And the most interesting thing is it's THREE generations on stage together. So we have the Bhalke family from Indore where dada sports hairgel and a Metallica tshirt while dadi wears a skirt (ankle length, but still!). And the Patel family from Ahmedabad whose performance is on the theme of being able to exchange your wife for a new one. Nothing perverted, just the real life wife walking out of a cupboard in a shiny silver costume showing off 6 inches of her midriff.
You would not wear that and walk down C G Road but all is fair on national television.
It's amazing how we seem to have loosened up as a country. These are all regular, not-so-Westernised families from Jaipur, Indore, UP and so on. But they lose their inhibitions on stage. They flirt shamelessly with the judges, and debate on saali being aadhi or poori gharwali. All scripted for sure but there is no sharam or lihaaj in either the banter or the matkas and jhatkas.
Another nice touch is having a 'family' as the judges - Ajay Devgan, Kajol and Tanuja. And before the judges award points each family must decide where it stands by climbing up a series of steps labelled 1-10. Meaning agar aapko apni kabiliyat ka andaaz hai tabhi to doosre bhi aapko appreciate karenge!
Enough said. I don't know if the 'best' family will win because the one of the few who got 9 points today bagged honours not for dancing well but a Taare Zameen Par tearjerker moment. The overall tone of this show is TZP actually, as against other reality shows where bitching and backbiting is used to retain viewer interest.
At least we know these judges won't be giving press conferences badmouthing each other :)
On the other end of the spectrum is song and dance shows using professionals - like Nach Baliye and Jhalak Dikhla Ja. Now there's Dhoom Macha De, which is also very watchable. This show features a bunch of semi forgotten stars competing to be crowned the best live performer in India. And the mix of interesting themes, enthusiastic and well put together performances and endearing judges makes for good television. Devang Patel's humorous version of 'Chalte Chalte, mujhe koi mil gaya tha' and Richa Sharma's rendition of the ghazal 'Aaj jaane ki zid na karo' were both outstanding.
When we were kids there was a tradition of holding a variety entertainment show in our building basement on a makeshift stage, every 26th Jan and 15th August. Now it seems all the world's a stage and anyone can be a player.
No basements anymore, only living rooms.
Monday, March 24, 2008
Race - brainless, good fun
From the first two minutes of Race - where an expensive car is blown up in a pretty impressive stunt you realise one thing.This is one slick production. This is Dhoom ka chhota bhai (because the stars are chhota in comparison) but it's the same family of films. The hum Hollywood ke baap hain genre.
You have hot girls, ours are hotter
You have car chase, ours is faster.
And so on.
Abbas Mastan have built a rep as 'thriller' specialists. This one is set against the backdrop of the world of horse racing. The real race, however, is between Ranvir (Saif Ali Khan) and Rajiv (Akshaye Khanna).
The film is being battered by some for making no sense. But two points in Abbas-Mastan's defence. Things happen quickly, so you can overlook the implausible bits while in the theatre (later of course you will say yeh kyun aur woh kyun). Secondly, if you have seen 'Cash', which had NO STORY at all, you will appreciate how intelligent this film is!
Of course there are unnecessary item numbers galore. The only good song being Pehli Nazar by Atif Aslam. And Katrina Kaif can't act, or dance, to save her life. Neither can Sameera Reddy but hey. We know what they're in the film for!
The comedy track by Anil Kapoor (playing Inspector RD) is inane beyond imagination. But I laughed anyways. Johnny Lever, in a very brief appearance, also provides some ha has.
And, the makers of the film leave enough clues hanging here and there for you to guess the suspense. The biggest one being: can a hero ever really die before the interval?
Still I would say it's a good timepass film. I give it 3.5 stars. And just to clarify, this is my movie rating system:
5 stars: Amazing - wouldn't watching again
4 stars: Great - definitely should be watched, once
3 stars: Good, if looking for timepass
2 stars: Sad, catch it on TV sometime
1 star: Do not watch, even if someone pays you to!
Race is a 3 star film. But just because they tried to wrap up the loose ends and for the stunning beaches of Cape Town (which I am dying to visit, in this lifetime!) I give it .5 stars extra. Watch it and decide if I was too generous!
Wednesday, March 19, 2008
Young Entrepreneur Series IV
This year 11 IIM A grads and one from IIM Calcutta have opted out of placement to start their own companies. This is now a yearly phenomenon. In the spirit of the season then, here's the dope on a company started by bschool grads of 2004 vintage.
No, it's not a dotcom, tech or consulting start up but a real, live sweat and blood business. But stress is something they probably don't worry about. Or at least have a way to deal with :)
Company: CMYK Health Boutique Private Limited, operating the'Four Fountains' spas.
Started in: Jan 2007
Founders:
Anurag Kedia (IIT B ,IIM A (2004)
Saurabh Garg (IITB, IIMA)
Sunil Rao (Sydenhem, SP Jain)
Arnab Mitra (IITD, IIMC) *
* was part of original team but recently quit for family reasons.
The business: Four Fountains is chain spa. Therapies are priced very reasonably - from 199 to 1349 (at most spas prices begin at Rs 2000 upwards).
Four Fountains aims to set up day spas in the top 20 towns of the country. The first two are already operational in Pune in Koregaon park and Aundh.
I met Anurag and Sunil in Pune last month. They gamely agreed to come see me at 11 pm, and share the journey so far. This is a long post - not because I can't edit it but because I think details matter. And they inspire/ guide those of you who may be thinking of taking the plunge into entrepreneurship yourselves.
So sit back and relax. Imagine yourself at the Four Fountains!
WHO WE ARE
Sunil, Saurabh and Arnab were all at HLL, I was at KPMG. Saurabh and I were batchmates at IIM A and through him I met them 2. Saurabh and I were exploring something, the two of them were exploring something. We hit upon the idea of health spas and both teams were excited it. So we decided to join hands and work on it together.
Were you familar with spas before you started Four Fountains?
Anurag: All 4 of us had been to Ayush or ayurvedic health centres at some time.. But none of us in HLL were associated with Ayush as a business.
Sunil: And at work every once in a while you have a getaway where you are supposed to indulge yourself with company money, so at one of those occassions we would have gone to a spa.
Also our international stint in HLL was in Bangkok so we had seen the spa market is huge and that there are good quality, affordable spas. It all came together - the idea that spas need not be expensive in order to provide a good service
All of you were based in Pune?
Sunil: None of us, actually. Pune was a business decision. Three of us worked in Bombay, Anurag was in Chennai.
STARTING UP
So how many months went into thinking and researching the business and how & when did you exit your jobs?
Anurag: Saurabh and I left together Dec 2006, Jan 2007. I got released a bit earlier. Sunil and Anurag were still in jobs. We wanted to make sure we had things in place before we quit. They left in April & May 2007.
While we two were brainstorming on ideas they had been researching on spas for quite a while. In Feb-March 2007 we decided to join hands. By then, they had spent 6 months researching the project.
Earlier we were working on a discount retail chain for rural India (similar to Subhiksha, but we had our own ideas how to make it work). Unfortunately. hype created by bigger players did not allow us to get support for that project.
On campus had you thought about entrepreneurship?
Anurag: I had not thought of it.. In fact I was a guy who dropped out of the LEM course (much sought after course @ IIM A on entrepreneurship) because I heard Prof Handa occupies all your weekends. He takes you to all interesting places but Saturday, Sunday khatam ho jayega.
And I was the cultural secretary. Mujhe kaam karna hai, Chaos ka paisa ikattha karna hai so I wriggled out. Later on Prof Handa has been quite helpful.. we have been in touch.
Then how did you end up starting a company?
Anurag: The job was doing ok - not so good, not so bad. I was a management consultant, with projects across companies. One day I got a call from Saurabh and he said 'kuch karte hain'. I said sounds interesting...
What about S P Jain? Is it common to take up entrepreneurship?
Sunil: Not very common. My junior batch there was one guy who started a financial advisory service, my batch I am the first one.
So tell me about the first idea you guys had.. the discount retail chain.
Anurag: We looked for funding, because usme jab tak scale nahin hota hai kuch nahin hota.
So who all did u meet for funding?
Anurag: We met anybody and everybody we thought could give us money including marwari seths, VCs, pvt equity funds, corporates - almost everybody. We thought we had firm commitment from 2-3 of them but then it did not materialise. We had started pitching in Aug 2006, worked 6 months before that on the plan. By December we realised ki no matter what kuch karna hai. If not discount retail, then something else.
You had saved up money?
Anurag: A little 6-8 months, or even 10 months stretch kar ke we could sustain ourselves.
What was the need gap in the spa market which you spotted when you started researching the idea?
Sunil: We talked to people and asked them, what do you understand by 'spa'. Some thought it's a gym, others thought it's a salon. We figured there is no one person who owns spas as they stand for. Spas are associated with 5 star hotels and seen as expensive while some think ok, they're massage parlours.
We saw an opportunity to bring in genuine spa service in a great ambience but affordable prices.
MAKING THINGS HAPPEN
Next stage? How did you raise money??
Sunil:After the concept was in place, we formulated with evidence, tested on 30-40 people and refined the concept. We then pitched for money.
Who gave the money?Anurag: A quasi V C fund - they have a couple of businesses of their own and will soon become a professional VC fund. But Four Fountains is their first external investment.
How many people did you go to before securing funding?
Anurag: This time we pitched to 5-6 people. But for the retail project we had pitched to a countless number and hence knew the people who did not invest in the project but had shown interest in us. They said ok agar tum kuch aur bhi karna chahte ho let us know. Hence it was quicker, when we went back to them with the spa idea.
How do go and pitch? Cold call or through people you knew?
Anurag: We went to all routes. More of people we did not know... Band of Angels, Mumbai Angels etc etc
Sunil: They would have done more cold calls than anything else.
What is the size of the project?
The current investment is a little above Rs 1 cr.
You have two spas right now. What next?
Immediately, Bombay, Delhi, Chennai and Bangalore are on the horizon. We're just waiting for these two to stabilise and processes being completely in place. Then we can move out of Pune and leave these spas to function on their own. We have done some ground work in Mumbai and Delhi and hope to open the next set of spas around May-June 2007
How do you do that? I mean 'stablise'? And where do you get spa professionals from? In Mumbai, some spas have therapists from Thailand, Bali etc.
There is huge shortage of skileld manpower in this industry - like in every other industry today but here there seems to be an even greater shortage because there are no good training instututes except in Kerala where they impart training in panchkarma.
There also not all panchkarma schools are producing ther right quality and attitude. Another problem is language. Very few can converse in Hindi or English, they speak only Malayalam.
In the first phase we have hired ppl with some background - people with diploma in ayurveda and diploma in naturopathy - just to make sure they are comfortable with he idea of working in a spa. For them the idea of giving a massage is not taboo, it's not lowly work, they accept it as a profession and find it a respectable thing to do.
But there are not enough people who have that attitude to massage in the first place...
So then how do they become experts in say, 'Invigorating Swedish therapy'?
We have an expert on board as a consultant who looked into the menu of products, service sequence, guest handling, phone etiquette etc. We also hired external trainers who do training for 5 stars and are now freelancing. Now we have an in house expert to handle future training needs.
How much do therapists get paid?
CtoC is 10k per month for therapist. Outside they get paid 4-5k, we pay on the higher side.
How many employees do you have right now?
22 therapists in all + each spa has 2 guest relation executives and a manager. The two trainers are a common resource.
THE NITTY GRITTIES
Why the name Four Fountains?The four fountains represent the four faculties... Fountain of youth, tranquility, abundance and joy.
And what's special about your spa?
Some of the facilities we have are not in 5 stars also. Indivudal showers in all rooms, all disposable matterial, 100% natural products. For facials we use high end products like Artistry from Amway.
How many customers come to Four Fountains in a week?
100-150 people. The average amount they spend currently is Rs 700 which is higher than we had expected. We have found that when you offer good value, people tend to spend more.
Also there are more men right now than women which is also a surprise. The ratio is 60: 40. Most are not regular spa goers - Pune has spas only in 5 stars and catering mainly to foreigners.
Popular therapies are Ayurvedic and invigorating Swedish massage for men and Harmonising aromatherapy for women. Also the destressing head, neck and shoulder therapy.
We can do 70 therapies a day at each centre. There are 'happy hours' between 10 am to 4pm, Mon-Fri.
What have you done to promote the spas?
Above the line and below the line. We have put ads in TOI Pune and also tied up with Lifestyle store, restaurants, multiplexes, gym. We access their database by providing discount offers to their members and users.
And what's the break even level for each spa?
Cash Break even is 3-6 months, payback is 2.5-3 years.
Do you take a salary for yourselves?
Yes, a modest one but enough to cover living expenses.
And how will you raise more money for expansion?
The same investors have committed more money for the next 15-20 spas. Post that we will be looking for more money, if they are not interested then maybe from external sources.
It's a very capital intensive business...
That's the difference between a tech business and non-tech business. You were asking about VCs. Most of the VCs fund tech businesses because there it is theoretically possible for Re 1 Rs 10, Rs 500 or even Rs 1000. Here 1 rupee can make 5 or 10 rupees, at most 20 rupees
You have to keep selling equity and raising money - how much equity are you left with? I ask this because you are many partners and taking a relatively low salary. The attraction is really the long term value of your equity stake...
Ours is a performance linked equity structure. There is a rate of growth defined and a complex formula by which we will value the firm 2 years down the line. There is a strong incentive to do well. If we don't do well most of it belongs to them, if we do well then most will belong to us.
They suggested and we found it fair. The investors have been very supportive.
Is 4 partners a good thing? Do you compartmentalise the work?
Arnab has recently quit for personal reasons, so that leaves 3 of us. We are too small to work in silos but we do divide the responsibility for ease of execution - Sunil handles marketing while I handled the projects part (finding real estate, setting up the spa etc). Saurabh handles training and rollout. Now the project is up and running so all of us are working on the marketing.
Is there an Ayush centre in Pune?
There was one in Koregaon Park, it's shut down.
I went to Ayush once and found the place ok... I would not go back again.Anurag: Actually many aspects of Ayurvedic therapy are currently being debated. Is massage on wooden bed necessary? It's so uncomfortable! If you have a medical condition it's ok stick to the authentic version because it's a treatment but when you go for relaxation is it necessary? Also there are 7 classical positions, 4 of which are not comfortable at all...
Sunil: People go to Ayush for some problem. If you have a backache, come to us; if you have a knee problem come to us... Whereas at our place we are not saying come to us if you have a problem, come if you want to relax..
How important is it for therapists to build personal relationships with clients?
Our effort is to standardise, not add one more complication but if people ask for a particular therapist, we do provide. There is no direct 'cut' to therapists but there is an incentive for doing certain number of therapies, coming on time etc
You thing it's a service business but it can be totally systematised?
It's happening in salons so why not...
I have a small problem with this approach... I visit salons and spas; personal relationships do matter I think!
Anurag: Setting process does not mean people should lose out on warmth. This depends on the people you hire. Skill can be developed but not attitude
AAE AAGEY...
What is it about this business that keeps you excited? How will you keep learning and growing?
We figured out that we will do something which is going to be appreciated by people, so there was that kick. But rationally, there was also this whole thing of getting into the wellness space. We can branch into other things eg salon, health food, spa product retailing - there are many opportunities. We have tied up for example with Jawed Habib and started a salon at one of the spas.
Where do you see the company 3-5 years from now?
Four Fountains will be present in top 20 towns with 100 spas in 5 years. Estimated turnover: Rs 100 crores.
It all sounds very easy... You got the idea, investors, set up the spas..any problems?
Anurag: Paperwork is important but ho jaata hai. Execution is the real challenge. Take the small example of getting a press. Is the tagline right, is the message coming across? Should I put 4 lines describing the spa or have 20 lines? If one press ad does not work you bleed... We have made a lot of mistakes.
Then dealing with employees. For example, someone falls sick or their parents fall sick... If 2 out of 10 people can't come in a day it's a 20% hit to our capacity and our revenues directly get impacted. Or if someone is not happy for some reason, or gets food poisonong, we are responsible for them.
There has been a time when we have spent the night at the hospital, because of worry that an employee's fever is dengue. Thankfully, it was not but we spent Rs 5000 in 2 days and then realised medical insurance is required for all.
Has he MBA helped you in being an entrepreneur?
Anurag: Definitely in planning and marketing yes.
Sunil: The job after MBA was a big learning experience. I was handling the Modern bread channel. On paper, everything is fantastic! When you go to the store there is chaos. You find the POP you designed looks crap in the shop...
No regrets??
At times you do miss the comforts, like we can't go to 5 stars etc.
Many entrepreneurs don't take a salary at all for some years.. You guys aren't in that boat. If you had a salary issue it would be more difficult?
Sunil: Yes, because of EMIs.
Anurag: We would have to look at some source of revenue, coaching teaching etc. Also had we planned that we'll become entrepreneurs after 2 years we would have saved accordingly. People who have it in mind should do so.
Finally, if you had not gotten funding would you have given up?
If you have something to show, it's easier to raise money. We would have borrowed money and started one spa... and kept looking for investors!
So when people really really want to do something they find a way, right?
Anurag: It's not that big and bad world out there.
Nahin karne ke liye bahut excuses hote hain
Sabse pehle naukri chhodo, to phir sab kuch ho jaata hai...!.
Wise words those.. as they say, nothing ventured, nothing gained.
What I liked about these guys: They are so matter of fact, ki bhai kisi na kisi tarah karna hi tha. The first idea did not seem feasible, they shifted to a second. And they aren't letting the obstacles along the way bog them down.
For example, the basic issue of spa therapists. They're not available, so you create your own talent pool. This is something all entrepreneurs have to do - train and upgrade people who can work for them instead of looking for ready-made talent (you generally can't afford or attract that kind when you're small and/or in a rapidly growing industry).
They also seem to have a very well thought out expansion strategy. But realise the real challenge is execution (which is where many MBAs in particular stumble). Will be interesting to see what systems they are able to put in place to expand rapidly across geographies.
Lastly, an affordable spa is a Big Idea but not a new one. It addresses a valid customer need and latent desire. We need more such ideas and they are actually all around us, just waiting to be spotted... By would-be entrepreneurs!
P.S. I have not personally tried the Four Fountains spa but if any of you have, do share your experience!
Previous posts in the Young Entrepreneur series:
Prakash Mundhra
Mom's Kitchen
Multimax
No, it's not a dotcom, tech or consulting start up but a real, live sweat and blood business. But stress is something they probably don't worry about. Or at least have a way to deal with :)
Company: CMYK Health Boutique Private Limited, operating the'Four Fountains' spas.Started in: Jan 2007
Founders:
Anurag Kedia (IIT B ,IIM A (2004)
Saurabh Garg (IITB, IIMA)
Sunil Rao (Sydenhem, SP Jain)
Arnab Mitra (IITD, IIMC) *
* was part of original team but recently quit for family reasons.
The business: Four Fountains is chain spa. Therapies are priced very reasonably - from 199 to 1349 (at most spas prices begin at Rs 2000 upwards).
Four Fountains aims to set up day spas in the top 20 towns of the country. The first two are already operational in Pune in Koregaon park and Aundh.
I met Anurag and Sunil in Pune last month. They gamely agreed to come see me at 11 pm, and share the journey so far. This is a long post - not because I can't edit it but because I think details matter. And they inspire/ guide those of you who may be thinking of taking the plunge into entrepreneurship yourselves.
So sit back and relax. Imagine yourself at the Four Fountains!
WHO WE ARE
Sunil, Saurabh and Arnab were all at HLL, I was at KPMG. Saurabh and I were batchmates at IIM A and through him I met them 2. Saurabh and I were exploring something, the two of them were exploring something. We hit upon the idea of health spas and both teams were excited it. So we decided to join hands and work on it together.
Were you familar with spas before you started Four Fountains?
Anurag: All 4 of us had been to Ayush or ayurvedic health centres at some time.. But none of us in HLL were associated with Ayush as a business.
Sunil: And at work every once in a while you have a getaway where you are supposed to indulge yourself with company money, so at one of those occassions we would have gone to a spa.
Also our international stint in HLL was in Bangkok so we had seen the spa market is huge and that there are good quality, affordable spas. It all came together - the idea that spas need not be expensive in order to provide a good service
All of you were based in Pune?
Sunil: None of us, actually. Pune was a business decision. Three of us worked in Bombay, Anurag was in Chennai.
STARTING UP
So how many months went into thinking and researching the business and how & when did you exit your jobs?
Anurag: Saurabh and I left together Dec 2006, Jan 2007. I got released a bit earlier. Sunil and Anurag were still in jobs. We wanted to make sure we had things in place before we quit. They left in April & May 2007.
While we two were brainstorming on ideas they had been researching on spas for quite a while. In Feb-March 2007 we decided to join hands. By then, they had spent 6 months researching the project.
Earlier we were working on a discount retail chain for rural India (similar to Subhiksha, but we had our own ideas how to make it work). Unfortunately. hype created by bigger players did not allow us to get support for that project.
On campus had you thought about entrepreneurship?
Anurag: I had not thought of it.. In fact I was a guy who dropped out of the LEM course (much sought after course @ IIM A on entrepreneurship) because I heard Prof Handa occupies all your weekends. He takes you to all interesting places but Saturday, Sunday khatam ho jayega.
And I was the cultural secretary. Mujhe kaam karna hai, Chaos ka paisa ikattha karna hai so I wriggled out. Later on Prof Handa has been quite helpful.. we have been in touch.
Then how did you end up starting a company?
Anurag: The job was doing ok - not so good, not so bad. I was a management consultant, with projects across companies. One day I got a call from Saurabh and he said 'kuch karte hain'. I said sounds interesting...
What about S P Jain? Is it common to take up entrepreneurship?
Sunil: Not very common. My junior batch there was one guy who started a financial advisory service, my batch I am the first one.
So tell me about the first idea you guys had.. the discount retail chain.
Anurag: We looked for funding, because usme jab tak scale nahin hota hai kuch nahin hota.
So who all did u meet for funding?
Anurag: We met anybody and everybody we thought could give us money including marwari seths, VCs, pvt equity funds, corporates - almost everybody. We thought we had firm commitment from 2-3 of them but then it did not materialise. We had started pitching in Aug 2006, worked 6 months before that on the plan. By December we realised ki no matter what kuch karna hai. If not discount retail, then something else.
You had saved up money?
Anurag: A little 6-8 months, or even 10 months stretch kar ke we could sustain ourselves.
What was the need gap in the spa market which you spotted when you started researching the idea?
Sunil: We talked to people and asked them, what do you understand by 'spa'. Some thought it's a gym, others thought it's a salon. We figured there is no one person who owns spas as they stand for. Spas are associated with 5 star hotels and seen as expensive while some think ok, they're massage parlours.
We saw an opportunity to bring in genuine spa service in a great ambience but affordable prices.
MAKING THINGS HAPPEN
Next stage? How did you raise money??
Sunil:After the concept was in place, we formulated with evidence, tested on 30-40 people and refined the concept. We then pitched for money.
Who gave the money?Anurag: A quasi V C fund - they have a couple of businesses of their own and will soon become a professional VC fund. But Four Fountains is their first external investment.
How many people did you go to before securing funding?
Anurag: This time we pitched to 5-6 people. But for the retail project we had pitched to a countless number and hence knew the people who did not invest in the project but had shown interest in us. They said ok agar tum kuch aur bhi karna chahte ho let us know. Hence it was quicker, when we went back to them with the spa idea.
How do go and pitch? Cold call or through people you knew?
Anurag: We went to all routes. More of people we did not know... Band of Angels, Mumbai Angels etc etc
Sunil: They would have done more cold calls than anything else.
What is the size of the project?
The current investment is a little above Rs 1 cr.
You have two spas right now. What next?
Immediately, Bombay, Delhi, Chennai and Bangalore are on the horizon. We're just waiting for these two to stabilise and processes being completely in place. Then we can move out of Pune and leave these spas to function on their own. We have done some ground work in Mumbai and Delhi and hope to open the next set of spas around May-June 2007
How do you do that? I mean 'stablise'? And where do you get spa professionals from? In Mumbai, some spas have therapists from Thailand, Bali etc.
There is huge shortage of skileld manpower in this industry - like in every other industry today but here there seems to be an even greater shortage because there are no good training instututes except in Kerala where they impart training in panchkarma.
There also not all panchkarma schools are producing ther right quality and attitude. Another problem is language. Very few can converse in Hindi or English, they speak only Malayalam.
In the first phase we have hired ppl with some background - people with diploma in ayurveda and diploma in naturopathy - just to make sure they are comfortable with he idea of working in a spa. For them the idea of giving a massage is not taboo, it's not lowly work, they accept it as a profession and find it a respectable thing to do.
But there are not enough people who have that attitude to massage in the first place...
So then how do they become experts in say, 'Invigorating Swedish therapy'?
We have an expert on board as a consultant who looked into the menu of products, service sequence, guest handling, phone etiquette etc. We also hired external trainers who do training for 5 stars and are now freelancing. Now we have an in house expert to handle future training needs.
How much do therapists get paid?
CtoC is 10k per month for therapist. Outside they get paid 4-5k, we pay on the higher side.
How many employees do you have right now?
22 therapists in all + each spa has 2 guest relation executives and a manager. The two trainers are a common resource.
THE NITTY GRITTIES
Why the name Four Fountains?The four fountains represent the four faculties... Fountain of youth, tranquility, abundance and joy.And what's special about your spa?
Some of the facilities we have are not in 5 stars also. Indivudal showers in all rooms, all disposable matterial, 100% natural products. For facials we use high end products like Artistry from Amway.
How many customers come to Four Fountains in a week?
100-150 people. The average amount they spend currently is Rs 700 which is higher than we had expected. We have found that when you offer good value, people tend to spend more.
Also there are more men right now than women which is also a surprise. The ratio is 60: 40. Most are not regular spa goers - Pune has spas only in 5 stars and catering mainly to foreigners.
Popular therapies are Ayurvedic and invigorating Swedish massage for men and Harmonising aromatherapy for women. Also the destressing head, neck and shoulder therapy.
We can do 70 therapies a day at each centre. There are 'happy hours' between 10 am to 4pm, Mon-Fri.
What have you done to promote the spas?
Above the line and below the line. We have put ads in TOI Pune and also tied up with Lifestyle store, restaurants, multiplexes, gym. We access their database by providing discount offers to their members and users.
And what's the break even level for each spa?
Cash Break even is 3-6 months, payback is 2.5-3 years.
Do you take a salary for yourselves?
Yes, a modest one but enough to cover living expenses.
And how will you raise more money for expansion?
The same investors have committed more money for the next 15-20 spas. Post that we will be looking for more money, if they are not interested then maybe from external sources.
It's a very capital intensive business...
That's the difference between a tech business and non-tech business. You were asking about VCs. Most of the VCs fund tech businesses because there it is theoretically possible for Re 1 Rs 10, Rs 500 or even Rs 1000. Here 1 rupee can make 5 or 10 rupees, at most 20 rupees
You have to keep selling equity and raising money - how much equity are you left with? I ask this because you are many partners and taking a relatively low salary. The attraction is really the long term value of your equity stake...
Ours is a performance linked equity structure. There is a rate of growth defined and a complex formula by which we will value the firm 2 years down the line. There is a strong incentive to do well. If we don't do well most of it belongs to them, if we do well then most will belong to us.
They suggested and we found it fair. The investors have been very supportive.
Is 4 partners a good thing? Do you compartmentalise the work?
Arnab has recently quit for personal reasons, so that leaves 3 of us. We are too small to work in silos but we do divide the responsibility for ease of execution - Sunil handles marketing while I handled the projects part (finding real estate, setting up the spa etc). Saurabh handles training and rollout. Now the project is up and running so all of us are working on the marketing.
Is there an Ayush centre in Pune?
There was one in Koregaon Park, it's shut down.
I went to Ayush once and found the place ok... I would not go back again.Anurag: Actually many aspects of Ayurvedic therapy are currently being debated. Is massage on wooden bed necessary? It's so uncomfortable! If you have a medical condition it's ok stick to the authentic version because it's a treatment but when you go for relaxation is it necessary? Also there are 7 classical positions, 4 of which are not comfortable at all...
Sunil: People go to Ayush for some problem. If you have a backache, come to us; if you have a knee problem come to us... Whereas at our place we are not saying come to us if you have a problem, come if you want to relax..
How important is it for therapists to build personal relationships with clients?
Our effort is to standardise, not add one more complication but if people ask for a particular therapist, we do provide. There is no direct 'cut' to therapists but there is an incentive for doing certain number of therapies, coming on time etc
You thing it's a service business but it can be totally systematised?
It's happening in salons so why not...
I have a small problem with this approach... I visit salons and spas; personal relationships do matter I think!
Anurag: Setting process does not mean people should lose out on warmth. This depends on the people you hire. Skill can be developed but not attitude
AAE AAGEY...
What is it about this business that keeps you excited? How will you keep learning and growing?
We figured out that we will do something which is going to be appreciated by people, so there was that kick. But rationally, there was also this whole thing of getting into the wellness space. We can branch into other things eg salon, health food, spa product retailing - there are many opportunities. We have tied up for example with Jawed Habib and started a salon at one of the spas.
Where do you see the company 3-5 years from now?
Four Fountains will be present in top 20 towns with 100 spas in 5 years. Estimated turnover: Rs 100 crores.
It all sounds very easy... You got the idea, investors, set up the spas..any problems?
Anurag: Paperwork is important but ho jaata hai. Execution is the real challenge. Take the small example of getting a press. Is the tagline right, is the message coming across? Should I put 4 lines describing the spa or have 20 lines? If one press ad does not work you bleed... We have made a lot of mistakes.
Then dealing with employees. For example, someone falls sick or their parents fall sick... If 2 out of 10 people can't come in a day it's a 20% hit to our capacity and our revenues directly get impacted. Or if someone is not happy for some reason, or gets food poisonong, we are responsible for them.
There has been a time when we have spent the night at the hospital, because of worry that an employee's fever is dengue. Thankfully, it was not but we spent Rs 5000 in 2 days and then realised medical insurance is required for all.
Has he MBA helped you in being an entrepreneur?
Anurag: Definitely in planning and marketing yes.
Sunil: The job after MBA was a big learning experience. I was handling the Modern bread channel. On paper, everything is fantastic! When you go to the store there is chaos. You find the POP you designed looks crap in the shop...
No regrets??
At times you do miss the comforts, like we can't go to 5 stars etc.
Many entrepreneurs don't take a salary at all for some years.. You guys aren't in that boat. If you had a salary issue it would be more difficult?
Sunil: Yes, because of EMIs.
Anurag: We would have to look at some source of revenue, coaching teaching etc. Also had we planned that we'll become entrepreneurs after 2 years we would have saved accordingly. People who have it in mind should do so.
Finally, if you had not gotten funding would you have given up?
If you have something to show, it's easier to raise money. We would have borrowed money and started one spa... and kept looking for investors!
So when people really really want to do something they find a way, right?
Anurag: It's not that big and bad world out there.
Nahin karne ke liye bahut excuses hote hain
Sabse pehle naukri chhodo, to phir sab kuch ho jaata hai...!.
Wise words those.. as they say, nothing ventured, nothing gained.
What I liked about these guys: They are so matter of fact, ki bhai kisi na kisi tarah karna hi tha. The first idea did not seem feasible, they shifted to a second. And they aren't letting the obstacles along the way bog them down.
For example, the basic issue of spa therapists. They're not available, so you create your own talent pool. This is something all entrepreneurs have to do - train and upgrade people who can work for them instead of looking for ready-made talent (you generally can't afford or attract that kind when you're small and/or in a rapidly growing industry).
They also seem to have a very well thought out expansion strategy. But realise the real challenge is execution (which is where many MBAs in particular stumble). Will be interesting to see what systems they are able to put in place to expand rapidly across geographies.
Lastly, an affordable spa is a Big Idea but not a new one. It addresses a valid customer need and latent desire. We need more such ideas and they are actually all around us, just waiting to be spotted... By would-be entrepreneurs!
P.S. I have not personally tried the Four Fountains spa but if any of you have, do share your experience!
Previous posts in the Young Entrepreneur series:
Prakash Mundhra
Mom's Kitchen
Multimax
Monday, March 17, 2008
Southern charm
This sounds terribly elitist but last night I was in a train, after a long long time. An overnight train.
I boarded the Rockfort express for Trichy from Tambaram station (which is equivalent to hopping in at 'Borivili' I suppose, the train stops just 2 mins). The station was surprisingly clean - the usual stench of you-know-what from the tracks was completely missing.
But the real shocker was that at 11 pm, when I got in, everyone was nicely, quietly and soundly asleep. Now if you have travelled on a train in Delhi-UP side or even Gujarat you'll know how rare this is. Maybe around 1 am... But at 11 there's always plenty of chatter (loudly), folks who want to leave their light on and on Gujarat Mail, the ones who must have their midnight thepla & 'snakes'.
The a/c was also at human, not polar bear levels (a problem I have often faced in Rajdhani!).
Anyhow, I am in Chennai in Tuesday (18th March) and have half a mind to visit Great Lakes Institute of Management. If any reader of this blog studies there and would like to meet up, do drop me a line at rashmi_b at yahoo.com.
I boarded the Rockfort express for Trichy from Tambaram station (which is equivalent to hopping in at 'Borivili' I suppose, the train stops just 2 mins). The station was surprisingly clean - the usual stench of you-know-what from the tracks was completely missing.
But the real shocker was that at 11 pm, when I got in, everyone was nicely, quietly and soundly asleep. Now if you have travelled on a train in Delhi-UP side or even Gujarat you'll know how rare this is. Maybe around 1 am... But at 11 there's always plenty of chatter (loudly), folks who want to leave their light on and on Gujarat Mail, the ones who must have their midnight thepla & 'snakes'.
The a/c was also at human, not polar bear levels (a problem I have often faced in Rajdhani!).
Anyhow, I am in Chennai in Tuesday (18th March) and have half a mind to visit Great Lakes Institute of Management. If any reader of this blog studies there and would like to meet up, do drop me a line at rashmi_b at yahoo.com.
Sunday, March 09, 2008
The Long March to Tibet
We are standing outside the 37th Esplanade court in Mumbai. They seem so out of place, these young boys with their hair gelled back and bright 'Free Tibet' t shirts. The court clerk had difficulty reading out the names. They are Indian in a sense, and yet 'foreigner'.
So what is their offence, anyways, I ask. Dorji takes it upon himeself to explain. He is the de facto 'leader' of the gang and speaks on their behalf. And on behalf of all Tibetan people.
There is so much passion, so much pain in the struggle these young men have undertaken, that you cannot help being moved. Here is the story, in their own words:
"My name is Dorji, I am studying in MS University Baroda. On 26th November 2006 we gathered here, around 50 Tibetan students from Baroda, few from Pune and Bangalore, to protest against the Chinese leader Hu Jintao who had come to Mumbai, at the Taj hotel.
We came here specially to protest against him as he was in charge of the Tibetan Autonomous region in 1989. There was a huge protest at that time for independence and he imposed martial law. Thousands of Tibetan people were killed .. and he was promoted as President after a few years.
So we wanted to convey our message that he is the killer of Tibetan people. In September of that year 70 Tibetan people were shot down while crossing the border at Nangpala in Nepal. The Chinese claimed the reason was security but no Tibetans had weapons at that time. These are violations of human rights... we would like to be a voice for those without a voice in Tibet.
I don't know how much we helped the Tibetans. But it was a satisfaction that we are doing something. We have not forgotten even after 50 years have passed. And to convey mesaage to the Chinese that we won't stop... whatever they do we will continue until Tibet is free.
So we protested. One of our friends from Bangalore - President of Bangalore Tibetan Students -he burnt himself to get attraction of media, to let them know more. All Bombay newspapers covered the protest. His leg was fully burnt, he was in hospital for 2 months. So there is a case against us by the government. And because he tried to commit suicide, the case becomes serious. We have been coming to court for 2 years every 2-3 months.. We don't know how far it will go."
But, I ask, you were born and brought up in India and have never visited Tibet. 50 years have passed but you are still hopeful that something will change? By burning your leg you got publicity for 1 day... but day after day it's v difficult to carry on this struggle. What keeps you going?
"Feeling of refugee will only be known by a refugee. We born here, but this is not our home.. although this is our home. His Holiness Dalai Lama once said we feel more Indian than Tibetan. I also feel.. I like everything Indian, Hindi films, I love Indian food but still there is something inside I can't explain.
Our parents have told us what's it like in Tibet. And we live in a group we went to school together, we are brought up in Tibetan culture. Inside... we feel Tibetan.
We are not fighting for ourselves ..We have everything in India. Good standard of education, good standard of life. We are fighting for those who are under Chinese. If they are unhappy life has no meaning for us. Main thing is Security for everyone and those Tibetans who are dying, who are political prisoners... what about them.
There are a lot of prisons in Tibet. In Lhasa - everywhere there is a brothel, there is a bar. They are exploiting our race, they want to finish off our race and these things make us continue our struggle."
Even if it takes another 50 years, the next generation and and next generation after that? The struggle started in 1959 and now it is 2008. How long will it take and will you continue however long it takes?
"That is sure it is not struggle of a generation. My father had struggled, grandfather had struggled, my great grand father was killed because of the Chinese invasion. If I die in India my son will continue the struggle."
And you are not concerned about your career and having fun, like other people of your age?
"These things come second. We are studying but this is second. First thing is our struggle to show we still exist, as a race. If we lose our identity, there is nothing.
They are resettling Chinese people in Tibet area. We also have a lot of uranium. And Tibet is the roof of the world, the source of water for millions of people. They are taking our resources and exploiting them, like the British did to India."
Have you met the Dalai Lama?
"Yes, many times."
I turn to Lhakpa, the boy who had set fire to his leg. Two years later he is fully healed. At least from the outside...
When you burnt your leg, was it a spur of the moment decision or all carefully planned?
"I planned only 1 day before," he explains in halting English. "When I came from Bangalore I thought 200-300 Tibetans will come and we will have a big protest. But police had already warned all the Tibetans selling sweaters here that if you take part we will not let you do business. So they did not join us.
So out of a feeling of desperation I did this, I set fire to myself."
So how did it feel... do you think you achieved your goal?
"This is only a small thing for me. Just my leg was burnt, But inside Tibet thousands are dying, hundereds are suffering in prisons they are being tortured with electric shocks, some iron is being put in women's vagina.. compared to these things my suffering is nothing".
Have you ever been to Tibet?
"I came from Tibet in 1993. I want to add that our strufgle will not end. Now we qare planning to go back to Tibet on March 10. The Chinese government is always telling Tibetans living outside to return.. We want to test that how will they treat us if we return.
Our plan is to go to Tibet, 500-600 of us. We will march back to Tibet by road, it will take 8 months. We will start from Himachal Pradesh, Dharamsala and go thru Nathu la pass. We will surrender our Indian identity cards to the govt, thank Indian govt. We may die, we may not die I don't know but that is our plan.
So no more hearings over here.. If things not ok there we will struggle and die there. We will fight for freedom that is our main objective".
I ask Dorji if he too will be going. He answers in the negative, he has exams...
He adds hastily,"All of us can't go back at the same time. 5 NGOs - Tibetan Youth Congress, Tibetan Students Association and some others have gotten together for this. 10 March 1959 is considered Tibetan Independence day by us. Every year we commemorate the day, this year we are planning this return...
This is first trip, if it succeeds we will continue. But we can't predict what happens. Those who are going will sacrifice everything.."
For 50 years the struggle has remained peaceful. But you can see patience is running thin now.. You can see it in the eyes of these young men.
"It is because of Dalai Lama, we are all following him. The Chinese government is waiting for his death".
And after that?
"Buddhist philosophy is against violence. That's why we have stayed like this, 50 years. But I am not a Buddha... Non violence does not mean you cannot defend".
But errorism is not 'self defence'....
"What Bhagat Singh did? He killed the General, he did not kill civilians. So we may attack those who directly killed Tibetans... Not saying we will do but it may happen. The young generation is getting tired. We are losing our Tibetan culture staying outside our country for so many years..."
And yet they go to sleep every night, dreaming of free Tibet. Or at the very least an 'autonomous region' in the true sense - where Tibetans come first.
Today is the 10th of March. I call Dorji to ask him about Lhakpa. Is he really going back to Tibet?
"Yes, they are going...I don't know how many of them.. but they are leaving today, that's for sure."
And someday I hope to visit Lhasa and share another cup of tea with that young man. A young man whose leg may have healed but whose heart will remain on fire. As long as his country and his people burn for freedom.
If we in India had even a fraction of that passion for a country which is already free, now that would be something!
Friday, March 07, 2008
Worked for a cruise liner?
Or know someone who has? Would love to speak to you - please get in touch with me at rashmi_b at yahoo.com
Wednesday, March 05, 2008
Kisko Milega Cash?
Jiski hogi sab se badi sob story.
Yup, you no longer have to sing, dance, tell jokes, answer GK questions or even perform mindless tasks on TV to earn cash. All you have to do is convince the nation that your kahani is more dukhbhari than the two other contestants. Get enough sms votes, Rs 5 lakhs is yours!
Standard Chartered 'Kisko Milega Cash' is a new daily show on Star One. Tonight's episode featured one Good Samaritan who is supporting his rakhi sister and wants to use the money to buy a house for her. One Close-to-Tears-All-The-Time young lady who wants to buy her parents a house because ek din meri shaadi ho jayegi aur phir unka kya hoga. And a third gentleman whose story I missed but who looked dukhi as hell.
Each contestants pleads the merits of his/ her case for 60 seconds. Then an a/v is screened where all their friends and relatives talk about how selfless, helpful and needy the person is. The 'opinionmakers' (Neena Gupta, Jaya Bhattacharjee and Anil Dharker) mildly quiz them.
The real fun begins when the contestants start cross questioning each other. They're certainly don't seem too nice (or too bechara (anymore. "Aapke pitaji abhi jis ghar mein rehte hain wo kiske naam hai," asks the rakhi brother. "Lekin woto aapki asli behen nahin hai phir aap unke yeh sab kyun karna chahte hain?", Close-to-Tears counters.
Two out of three in the expert panel say they're not very convinced that any of the three are truly that needy or deserving (neither am I). But based on audience votes, one will get the paanch lakh ka cheque. And the premium rates charged for those smses will partly fund the prize won't it? Yeh to hua ek bheekh maangne ka naya, hi tech tareeka!
Star One can look forward to a LOOOOOONG line outside its office to participate. And the show just might catch on. Not with the kind of people who read or write blogs but what the channels like to call 'janta Janardhan'.
Speaking of which Ramayan seems to hit the sweet spot with the public. I guess we Indians can never tire of the story, no matter how slowly it unfolds. In fact, slower the better because unlike saas bahu serials you can't mess with the storyline - randdomly kill off characters, wipe out their memory etc.
My initial impression of Ramayan was that the only update to the 80s version was more make up and more faux gold ornaments. But when I tuned in yesterday after many weeks I realised it's a little more than that...
Bharat is asking bhraata Ram: "Mujhe kaise pata chalega ki mujhe pyaar ho gaya hai?" And Shri Ram replies:"Jab tumhara dil tumhara hote hue bhi paraya lagne lage." Or something to that effect. And he proceeds to give a long lecture on the merits of 'love'. How it is divine and natural and wonderful.
Of course he has already won Sita in the swayamvar by this time. But still. Duty, sacrifice, good son, good husband/ wife, good brother are the words you associate with Ramayan (the Valmiki version). The Sagar version is adding some whole new dimensions...
And another 'update' on the 80s Ramayan - a small thing but I find it interesting. In the original series Ram, played by Arun Govil had a red tilak and cropped hair. In the new version Ram has shoulder length hair and sports a sun-shaped bindi (signifying his suryavanshi origins).
In the 80s any Indian man with long hair (except for a sadhu) was labelled a delinquent. Parents would cry and beg, "Please cut it!". Now, you see long haired young (and even middle aged!) men all over the place. I guess it was Dhoni who made it fully mainstream and acceptable. (although he subsequently went and chopped it all off).
But hey, in case your parents still have a problem just tune into Ramayan and remind them,"Yeh fashion nahin, bhartiya sanskritik tradition hai."
Lastly, the amount they smile on the show. The pull of religion is strong but so is the need to bask in the glow of shiny, happy people. So what if they existed thousands of years ago...
A welcome escape from the daggers and knives being thrown by devranis and jethanis in homes, and on rival channels!
Yup, you no longer have to sing, dance, tell jokes, answer GK questions or even perform mindless tasks on TV to earn cash. All you have to do is convince the nation that your kahani is more dukhbhari than the two other contestants. Get enough sms votes, Rs 5 lakhs is yours!
Standard Chartered 'Kisko Milega Cash' is a new daily show on Star One. Tonight's episode featured one Good Samaritan who is supporting his rakhi sister and wants to use the money to buy a house for her. One Close-to-Tears-All-The-Time young lady who wants to buy her parents a house because ek din meri shaadi ho jayegi aur phir unka kya hoga. And a third gentleman whose story I missed but who looked dukhi as hell.
Each contestants pleads the merits of his/ her case for 60 seconds. Then an a/v is screened where all their friends and relatives talk about how selfless, helpful and needy the person is. The 'opinionmakers' (Neena Gupta, Jaya Bhattacharjee and Anil Dharker) mildly quiz them.
The real fun begins when the contestants start cross questioning each other. They're certainly don't seem too nice (or too bechara (anymore. "Aapke pitaji abhi jis ghar mein rehte hain wo kiske naam hai," asks the rakhi brother. "Lekin woto aapki asli behen nahin hai phir aap unke yeh sab kyun karna chahte hain?", Close-to-Tears counters.
Two out of three in the expert panel say they're not very convinced that any of the three are truly that needy or deserving (neither am I). But based on audience votes, one will get the paanch lakh ka cheque. And the premium rates charged for those smses will partly fund the prize won't it? Yeh to hua ek bheekh maangne ka naya, hi tech tareeka!
Star One can look forward to a LOOOOOONG line outside its office to participate. And the show just might catch on. Not with the kind of people who read or write blogs but what the channels like to call 'janta Janardhan'.
Speaking of which Ramayan seems to hit the sweet spot with the public. I guess we Indians can never tire of the story, no matter how slowly it unfolds. In fact, slower the better because unlike saas bahu serials you can't mess with the storyline - randdomly kill off characters, wipe out their memory etc.
My initial impression of Ramayan was that the only update to the 80s version was more make up and more faux gold ornaments. But when I tuned in yesterday after many weeks I realised it's a little more than that...
Bharat is asking bhraata Ram: "Mujhe kaise pata chalega ki mujhe pyaar ho gaya hai?" And Shri Ram replies:"Jab tumhara dil tumhara hote hue bhi paraya lagne lage." Or something to that effect. And he proceeds to give a long lecture on the merits of 'love'. How it is divine and natural and wonderful.
Of course he has already won Sita in the swayamvar by this time. But still. Duty, sacrifice, good son, good husband/ wife, good brother are the words you associate with Ramayan (the Valmiki version). The Sagar version is adding some whole new dimensions...
And another 'update' on the 80s Ramayan - a small thing but I find it interesting. In the original series Ram, played by Arun Govil had a red tilak and cropped hair. In the new version Ram has shoulder length hair and sports a sun-shaped bindi (signifying his suryavanshi origins). In the 80s any Indian man with long hair (except for a sadhu) was labelled a delinquent. Parents would cry and beg, "Please cut it!". Now, you see long haired young (and even middle aged!) men all over the place. I guess it was Dhoni who made it fully mainstream and acceptable. (although he subsequently went and chopped it all off).
But hey, in case your parents still have a problem just tune into Ramayan and remind them,"Yeh fashion nahin, bhartiya sanskritik tradition hai."
Lastly, the amount they smile on the show. The pull of religion is strong but so is the need to bask in the glow of shiny, happy people. So what if they existed thousands of years ago...
A welcome escape from the daggers and knives being thrown by devranis and jethanis in homes, and on rival channels!
Thursday, February 28, 2008
Inside the Topper factory: Bansal classes in Kota
Comments to my last blog on Topper TV have been a bit emotional. On the one hand there is SR who feels "the idea shouldn't be to coach them for exams but rather to teach them something". However he goes on to add that Topper TV is obviously catering to the prevailing system and that is topper oriented.
Yeah, otherwise it would have been called Knowledge TV, right?
Ram (who is perhaps associated with the venture?) wants to know why I could not make a comment on the content of the show, instead of the presentation.
The show is about learning science, and not acting. The IIT Professor she picks on is an expert in his field, and not in acting. The anchors tried to teach for the first time at a very lower level and under 1000 and one odd restrictions imposed by the TV channel (e.g the “red shirt”).
The impression I got on the content was a televised version of what's in the textbook. No great innovation in making it easier to understand or remember. But hey, those of you who've actually attended such classes (in school and in coaching) are welcome to add your more informed opinions to the debate.
I just felt a lack of passion, and connection with the student. Maybe it's just the initial stage fright of being on national television?
I would only like to add that teaching is an art. The best teachers need not be highly regarded academics, or from IITs. The best teachers are those who know
their subject AND communicate it interestingly and effectively. And a teacher who changes lives is one who exudes passion, and a sense of empathy.
Anyhow, inspired by this whole topper business I am putting up a piece which looks at life @ India's most successful topper factory - Bansal Classes in Kota. It's based on a long chat with my cousin who spent 3 years at Bansal's (2004-7) but did not make it to IITs (well, technically he did on second attempt but with a rank of 4000 plus he could not get an IIT seat). He is now in BITS Goa and has no regrets.
Thought this just might help some of you considering studying @ Kota or curious to know wahan aisa kya khilate hain :) I for one found what it all quite fascinating!
Lastly, I have not made any value judgements - about whether coaching classes are a good thing, bad thing etc etc. It's all from the horse's mouth, relayed to you 'as is'.
What they really teach you at Bansal classes
- Rashmi Bansal
As such no school syllabus teaches you to think along lines of competitive exams. For that you have to join a coaching class and today, Bansal's is the most preferred.
Why? Because in all 1538 Bansal students got selected in IITs in the year 2007. The secret of their success is 'pre selection'. Admission to Bansal classes is based on an entrance exam after class 10. There are 2 exams - the first is around April 15th, just after the 10th Boards. This exam is called 'Bullseye'.
The second entrance is in the first week of June. This exam is called 'Acme'. It is better to give the first exam, as you will have a 2 month advantage and also, first batch students get the better teachers. Second exam is of course an option for people who have missed the first one.
Majority of students who make it to Bansal's are from CBSE or ICSE board. In my time barely 2 students from state board made it! But even for CBSE students the Chemistry portion is tough as what we are taught in school is not enough.
Yes, there are 15 day crash courses to help you get into Bansal classes such as 'Garg classes'. Not only do they coach you for the Bansal test, they teach you 2-3chapters of their study material so you can score better in the first few weekly tests. Yup, it's one hell of a competitive environment.
You see the 'merit rank' that you get in Bansal entrance determines which batch you get. The top rankers are part of the 'elite' batches which get the best teachers. Of course the ranking has to be maintained by your performance in weekly tests. You get a cumulative ranking based on scores of past and present tests. Those who scored less in the entrance and therefore got a lower batch do have a chance to move up.
But in general, the elite batches have an edge. The catch is you don't know what rank you've got until you've paid your fees in full. By which time it's a fait accompli.
Aspirants can take heart from the 2007 topper Achin Bansal. He is a fresher who joined in S4 batch, which is one of the lowest. But he had worked his way up to A1 batch by class 12. It's rare, but it can happen!
The Grind
There are two kinds of students - freshers and 'droppers'. Freshers are those attempting JEE for the first time, droppers are those who are repeating a year to give it again. Some join Bansal's dropper batch directly and for them there is an entrance test called 'Sterling'.
In the past people would drop upto 3-4 years and keep trying for JEE. Often they repeated to get a better rank. But with the new rules you can only give JEE twice.
In class 11 - which consists of 'freshers' , the topper batch is P1, followed by P2 and so on upto P6. At the next rung are batches Q1 to Q6, similarly R and then S (upto S6). That is 24 batches of freshers in all. Then you have an additional 9 batches who join through the 2nd test are numbered from J1 to J9. In 12th standard the batches are numbered A1, A2 and so on with A 1 being the cream of the class.
Before 2007, more droppers used to get selected than freshers. Now that you can't keep giving JEE, the ratio has improved.47% of selections were freshers and 53% were droppers. Among freshers, most of those selected were from the top 6 batches ie A1 to A7. In batches after that only 2-3 students got selected. There are 75 students in every batch.
Fresher classes start at 2-2.30 pm because officially morning is 'school timing'. Of course no one attends school, we use that time to do homework of 'DPPs' (Daily Practice Problems). The toughness of these problems rises to maddening heights. Of course now that JEE pattern has changed solving these problems is not so important, now many students don't take them as seriously.
Droppers have no school issue - they study all day. Classes start at 8 am, batches are named X, Y and Z (there were 8 batches per series in my time!)
The Teaching
The main thing is mental toughness and keeping yourself motivated. If you fall behind, you fall behind. You may be lucky and find a sympathetic teacher but mostly you're on your own.
There are all kinds of teachers.
For example there was a Physical Chemistry teacher who was a 25 yr old Chem Engineer from IIT Bombay. He was rumoured to earn Rs 1 lakh a month and they'd also given him a Tata Scorpio. Last heard he had left Bansals to pursue a course in fashion design having obtained an AIR 2 in a national level entrance exam. (yeah, ironic isn't it!)
Also one of the 'maverick' but good teachers, like Mr.Narendra Awasthi aka "Sodium" who taught Physical Chem has left (current whereabouts not known). Mr Jeevan Jyothi Agrawal aka "JJ Sir",an excellent and extremely committed Maths teacher as well as a good human being, has left to teach at "Allen's", a very famous medical coaching institute at Kota. He was the one from whom I received max guidance during my 3 yr stint.
So quality of teachers and teaching keeps changing.
Teaching method is quite informal. There is an a/c in the class but it's never switched on. It's only a showpiece. Also, the original Mr Bansal only teaches Maths. His brother manages the admin.
A roaring business
When I gave the Bansal exam in 2004, 5000 students took the test. Of which 2000 got in. Now they are taking in more students. Currently there would be around 10,000 students in Bansal classes. Of which 2800 would be 'droppers', 3000 would be the class 12 fresher batch and rest would be class 11 freshers (3800 or so in number).
Earlier there were 75 students in a batch.Now we have 85 to 90 in the topper batches and 120 to 150 in lower batches. They have 2 buildings in which classes are held. The new one has classrooms where 150 students can be seated.
When I joined 2 years back the fees per year were Rs 35,000 p.a.. Then it became Rs 50,000. Now it is Rs 60,000. Which means an estimated turnover of Rs 60 crores. Two years ago their official turnover was Rs 18 crores. And I forgot, they have a correspondence course called 'Locus' as well.
Bansal's main centre is Kota - that's where close to 1400 of the 1538 selections are from. There are only two 'branches' - Jaipur and Ajmer. Of these Jaipur is bigger and more preferred (had 154 selections vs 8 in Ajmer). Jaipur and Ajmer branches are generally offered to those who don't make it to Kota.
Incidentally, the 1538 selections includes 60 SC/ ST students as well.
Bansal selection break up:
top 100 JEE ranks: 32 students
top 1000 JEE ranks: 250 students rest rank far lower.
My rank was 4800, there were 860 Bansal students above me, Of course at 4800 I had no chance of admission to an IIT. I eventually joined BITS Goa.
The only other JEE coaching class of any repute in Kota is Resonance. They take in 10,000 students and boast of 800 selections but there are hardly any in the top JEE ranks. Also only about 450 of the selections would be through classroom coaching, rest are people who are in Bansal or other classes but took up one test series from Resonance.
Most students give both Bansal and Resonance entrance tests and prefer Bansal if they get both. Resonance tries to lure you by offering scholarships. They have a hostel called 'Lakshya' where they offer some of the toppers a free stay, provided they keep up their performance . Resonance has hardly any selections in the top 100 but many in the top 1000 (includes both classroom and test series). There are also institutes like Career Point and Insight.
There are barely 300 girls at Bansal classes. ie around 8-9 per batch. The front row is reserved for them.
There are a lot of students in Kota from UP and Bihar. Mr V K Bansal is not very pleased with the Bihar students. A couple of years ago they burst a rassi bomb in one of the toilets, But it must be said Biharis are generally intelligent, good in Maths.
Life in Kota
Bansal does not have any hostel facility. This means booming business for private hostels and PGs. A room close to Bansal can cost Rs 4000 p.m. And this is a tiny room converted from a kitchen. You can get a better room in Vigyan nagar for Rs 2000-2500 p.m. and Talwandi for Rs 1500 p.m. But living in Talwandi wastes time as you have to cross a highway and the signal does not work there.
Yeah, every minute counts!
Hostels are more or less the same. They charge Rs 6000 p.m. for lodging, food, washing clothes. Food starts out ok then deteriorates.Many survive on Maggi - they keep a gas in the room. There is a hot water problem in winter. Often the solar panels don't work. Then people skip baths or heat water with a rod.
On Sundays the mess has a holiday. The only decent restaurant close by is Eatos. Many prefer to eat at thelawalas or then at places like Saat Handi, Maheshwari etc further away. There is a new trend where sometimes mothers come and stay with the kids to ensure they have no 'food problems' and can concentrate on studies!.
Bicycle theft( from landlord's homes, hostels and even parking lots of coaching institutes with security guards is a very common phenomenon). Students are therefore advised to buy second hand bicycles only which are readily available everywhere.
Then there is the issue of attending 'school' . Most people join DAV public school - they actually ask for your Bansal admit card at the time of admission. Of their 400 class 12 students, 350 are from Bansal. Of course they are phantom students and they populate imaginary divisions. We only go for practicals once in a while. You wake up in 12th class around Jan-Feb and cram for exams.
Occassionally there are CBSE 'raids'. But you generally come to know in advance and rush to school, complete the books etc. Another school called 'IL' was raided and shut down Now the school is derecognised but Bansal has taken over the building and holds classes there!
Due to these raids no CBSE school is ready to give fraudulent admissions so people are increasingly opting for Rajasthan Board or National Open School.
Perseverance is most important. Living in Kota on your own, many deviate from studies also. There are lots of net cafes, pool and gaming parlours. The non serious types spend 2 years doing masti, roaming on their bikes and bunking classes.
Other Coaching Classes
In Hyderabad Ramaiah is the most sought after class. They take 150 students, of which 130 students clear JEE. They have stringent rules, including studies from 4 am! Classes like FIIT JEE are known more for correspondence material than classroom now. Even Bansal students join for correspondence and then the names overlap in the list published by different classes, Brilliants is a similar story,
Mention must also be made of Vidyamandir Classes based in Delhi. It is run by three brothers and takes in the creme-la-creme of students in Delhi and adjoining areas like Faridabad and Gurgaon.The focus is mostly on self study and classes are held only twice a week for which students come from as far as Faridabad.
The entrance test is the toughest of any JEE coaching institute in India as they want students who can do everything on their own. 140 out of 160 VMC students clear JEE every year. For those who don't make it, their study material is freely available in the market for couple of 1000 bucks.
But obviously with all these classes it's more about PRE selecting students who are likely to succeed.
And here's a newsflash: At the end of the day IITs call upto JEE rank 7200 for counselling and classes can claim all of these as 'selected' candidates. The last decent course ends around rank 3500.
Therefore the numbers claimed as 'successful candidates' by coaching classes is far higher than those who actually get an IIT seat.
Another point to note: One disadvantage of studying at Bansal is you can't compete for your home state colleges. Your 'home state' becomes Rajasthan as that is where you gave your board exam. So getting into a good college through AIEEE score (where state rank is considered) is next to impossible.
Lastly, in the last one year Bansal's has increased the intake substantially. The toppers come there anyways, there's no harm in admitting more and letting them live the dream. Why give other coaching classes any business?
Disclaimer: Although we share the same last name I am in no way related to Bansal classes!
Yeah, otherwise it would have been called Knowledge TV, right?
Ram (who is perhaps associated with the venture?) wants to know why I could not make a comment on the content of the show, instead of the presentation.
The show is about learning science, and not acting. The IIT Professor she picks on is an expert in his field, and not in acting. The anchors tried to teach for the first time at a very lower level and under 1000 and one odd restrictions imposed by the TV channel (e.g the “red shirt”).
The impression I got on the content was a televised version of what's in the textbook. No great innovation in making it easier to understand or remember. But hey, those of you who've actually attended such classes (in school and in coaching) are welcome to add your more informed opinions to the debate.
I just felt a lack of passion, and connection with the student. Maybe it's just the initial stage fright of being on national television?
I would only like to add that teaching is an art. The best teachers need not be highly regarded academics, or from IITs. The best teachers are those who know
their subject AND communicate it interestingly and effectively. And a teacher who changes lives is one who exudes passion, and a sense of empathy.
Anyhow, inspired by this whole topper business I am putting up a piece which looks at life @ India's most successful topper factory - Bansal Classes in Kota. It's based on a long chat with my cousin who spent 3 years at Bansal's (2004-7) but did not make it to IITs (well, technically he did on second attempt but with a rank of 4000 plus he could not get an IIT seat). He is now in BITS Goa and has no regrets.
Thought this just might help some of you considering studying @ Kota or curious to know wahan aisa kya khilate hain :) I for one found what it all quite fascinating!
Lastly, I have not made any value judgements - about whether coaching classes are a good thing, bad thing etc etc. It's all from the horse's mouth, relayed to you 'as is'.
What they really teach you at Bansal classes
- Rashmi Bansal
As such no school syllabus teaches you to think along lines of competitive exams. For that you have to join a coaching class and today, Bansal's is the most preferred.
Why? Because in all 1538 Bansal students got selected in IITs in the year 2007. The secret of their success is 'pre selection'. Admission to Bansal classes is based on an entrance exam after class 10. There are 2 exams - the first is around April 15th, just after the 10th Boards. This exam is called 'Bullseye'.
The second entrance is in the first week of June. This exam is called 'Acme'. It is better to give the first exam, as you will have a 2 month advantage and also, first batch students get the better teachers. Second exam is of course an option for people who have missed the first one.
Majority of students who make it to Bansal's are from CBSE or ICSE board. In my time barely 2 students from state board made it! But even for CBSE students the Chemistry portion is tough as what we are taught in school is not enough.
Yes, there are 15 day crash courses to help you get into Bansal classes such as 'Garg classes'. Not only do they coach you for the Bansal test, they teach you 2-3chapters of their study material so you can score better in the first few weekly tests. Yup, it's one hell of a competitive environment.
You see the 'merit rank' that you get in Bansal entrance determines which batch you get. The top rankers are part of the 'elite' batches which get the best teachers. Of course the ranking has to be maintained by your performance in weekly tests. You get a cumulative ranking based on scores of past and present tests. Those who scored less in the entrance and therefore got a lower batch do have a chance to move up.
But in general, the elite batches have an edge. The catch is you don't know what rank you've got until you've paid your fees in full. By which time it's a fait accompli.
Aspirants can take heart from the 2007 topper Achin Bansal. He is a fresher who joined in S4 batch, which is one of the lowest. But he had worked his way up to A1 batch by class 12. It's rare, but it can happen!
The Grind
There are two kinds of students - freshers and 'droppers'. Freshers are those attempting JEE for the first time, droppers are those who are repeating a year to give it again. Some join Bansal's dropper batch directly and for them there is an entrance test called 'Sterling'.
In the past people would drop upto 3-4 years and keep trying for JEE. Often they repeated to get a better rank. But with the new rules you can only give JEE twice.
In class 11 - which consists of 'freshers' , the topper batch is P1, followed by P2 and so on upto P6. At the next rung are batches Q1 to Q6, similarly R and then S (upto S6). That is 24 batches of freshers in all. Then you have an additional 9 batches who join through the 2nd test are numbered from J1 to J9. In 12th standard the batches are numbered A1, A2 and so on with A 1 being the cream of the class.
Before 2007, more droppers used to get selected than freshers. Now that you can't keep giving JEE, the ratio has improved.47% of selections were freshers and 53% were droppers. Among freshers, most of those selected were from the top 6 batches ie A1 to A7. In batches after that only 2-3 students got selected. There are 75 students in every batch.
Fresher classes start at 2-2.30 pm because officially morning is 'school timing'. Of course no one attends school, we use that time to do homework of 'DPPs' (Daily Practice Problems). The toughness of these problems rises to maddening heights. Of course now that JEE pattern has changed solving these problems is not so important, now many students don't take them as seriously.
Droppers have no school issue - they study all day. Classes start at 8 am, batches are named X, Y and Z (there were 8 batches per series in my time!)
The Teaching
The main thing is mental toughness and keeping yourself motivated. If you fall behind, you fall behind. You may be lucky and find a sympathetic teacher but mostly you're on your own.
There are all kinds of teachers.
For example there was a Physical Chemistry teacher who was a 25 yr old Chem Engineer from IIT Bombay. He was rumoured to earn Rs 1 lakh a month and they'd also given him a Tata Scorpio. Last heard he had left Bansals to pursue a course in fashion design having obtained an AIR 2 in a national level entrance exam. (yeah, ironic isn't it!)
Also one of the 'maverick' but good teachers, like Mr.Narendra Awasthi aka "Sodium" who taught Physical Chem has left (current whereabouts not known). Mr Jeevan Jyothi Agrawal aka "JJ Sir",an excellent and extremely committed Maths teacher as well as a good human being, has left to teach at "Allen's", a very famous medical coaching institute at Kota. He was the one from whom I received max guidance during my 3 yr stint.
So quality of teachers and teaching keeps changing.
Teaching method is quite informal. There is an a/c in the class but it's never switched on. It's only a showpiece. Also, the original Mr Bansal only teaches Maths. His brother manages the admin.
A roaring business
When I gave the Bansal exam in 2004, 5000 students took the test. Of which 2000 got in. Now they are taking in more students. Currently there would be around 10,000 students in Bansal classes. Of which 2800 would be 'droppers', 3000 would be the class 12 fresher batch and rest would be class 11 freshers (3800 or so in number).
Earlier there were 75 students in a batch.Now we have 85 to 90 in the topper batches and 120 to 150 in lower batches. They have 2 buildings in which classes are held. The new one has classrooms where 150 students can be seated.
When I joined 2 years back the fees per year were Rs 35,000 p.a.. Then it became Rs 50,000. Now it is Rs 60,000. Which means an estimated turnover of Rs 60 crores. Two years ago their official turnover was Rs 18 crores. And I forgot, they have a correspondence course called 'Locus' as well.
Bansal's main centre is Kota - that's where close to 1400 of the 1538 selections are from. There are only two 'branches' - Jaipur and Ajmer. Of these Jaipur is bigger and more preferred (had 154 selections vs 8 in Ajmer). Jaipur and Ajmer branches are generally offered to those who don't make it to Kota.
Incidentally, the 1538 selections includes 60 SC/ ST students as well.
Bansal selection break up:
top 100 JEE ranks: 32 students
top 1000 JEE ranks: 250 students rest rank far lower.
My rank was 4800, there were 860 Bansal students above me, Of course at 4800 I had no chance of admission to an IIT. I eventually joined BITS Goa.
The only other JEE coaching class of any repute in Kota is Resonance. They take in 10,000 students and boast of 800 selections but there are hardly any in the top JEE ranks. Also only about 450 of the selections would be through classroom coaching, rest are people who are in Bansal or other classes but took up one test series from Resonance.
Most students give both Bansal and Resonance entrance tests and prefer Bansal if they get both. Resonance tries to lure you by offering scholarships. They have a hostel called 'Lakshya' where they offer some of the toppers a free stay, provided they keep up their performance . Resonance has hardly any selections in the top 100 but many in the top 1000 (includes both classroom and test series). There are also institutes like Career Point and Insight.
There are barely 300 girls at Bansal classes. ie around 8-9 per batch. The front row is reserved for them.
There are a lot of students in Kota from UP and Bihar. Mr V K Bansal is not very pleased with the Bihar students. A couple of years ago they burst a rassi bomb in one of the toilets, But it must be said Biharis are generally intelligent, good in Maths.
Life in Kota
Bansal does not have any hostel facility. This means booming business for private hostels and PGs. A room close to Bansal can cost Rs 4000 p.m. And this is a tiny room converted from a kitchen. You can get a better room in Vigyan nagar for Rs 2000-2500 p.m. and Talwandi for Rs 1500 p.m. But living in Talwandi wastes time as you have to cross a highway and the signal does not work there.
Yeah, every minute counts!
Hostels are more or less the same. They charge Rs 6000 p.m. for lodging, food, washing clothes. Food starts out ok then deteriorates.Many survive on Maggi - they keep a gas in the room. There is a hot water problem in winter. Often the solar panels don't work. Then people skip baths or heat water with a rod.
On Sundays the mess has a holiday. The only decent restaurant close by is Eatos. Many prefer to eat at thelawalas or then at places like Saat Handi, Maheshwari etc further away. There is a new trend where sometimes mothers come and stay with the kids to ensure they have no 'food problems' and can concentrate on studies!.
Bicycle theft( from landlord's homes, hostels and even parking lots of coaching institutes with security guards is a very common phenomenon). Students are therefore advised to buy second hand bicycles only which are readily available everywhere.
Then there is the issue of attending 'school' . Most people join DAV public school - they actually ask for your Bansal admit card at the time of admission. Of their 400 class 12 students, 350 are from Bansal. Of course they are phantom students and they populate imaginary divisions. We only go for practicals once in a while. You wake up in 12th class around Jan-Feb and cram for exams.
Occassionally there are CBSE 'raids'. But you generally come to know in advance and rush to school, complete the books etc. Another school called 'IL' was raided and shut down Now the school is derecognised but Bansal has taken over the building and holds classes there!
Due to these raids no CBSE school is ready to give fraudulent admissions so people are increasingly opting for Rajasthan Board or National Open School.
Perseverance is most important. Living in Kota on your own, many deviate from studies also. There are lots of net cafes, pool and gaming parlours. The non serious types spend 2 years doing masti, roaming on their bikes and bunking classes.
Other Coaching Classes
In Hyderabad Ramaiah is the most sought after class. They take 150 students, of which 130 students clear JEE. They have stringent rules, including studies from 4 am! Classes like FIIT JEE are known more for correspondence material than classroom now. Even Bansal students join for correspondence and then the names overlap in the list published by different classes, Brilliants is a similar story,
Mention must also be made of Vidyamandir Classes based in Delhi. It is run by three brothers and takes in the creme-la-creme of students in Delhi and adjoining areas like Faridabad and Gurgaon.The focus is mostly on self study and classes are held only twice a week for which students come from as far as Faridabad.
The entrance test is the toughest of any JEE coaching institute in India as they want students who can do everything on their own. 140 out of 160 VMC students clear JEE every year. For those who don't make it, their study material is freely available in the market for couple of 1000 bucks.
But obviously with all these classes it's more about PRE selecting students who are likely to succeed.
And here's a newsflash: At the end of the day IITs call upto JEE rank 7200 for counselling and classes can claim all of these as 'selected' candidates. The last decent course ends around rank 3500.
Therefore the numbers claimed as 'successful candidates' by coaching classes is far higher than those who actually get an IIT seat.
Another point to note: One disadvantage of studying at Bansal is you can't compete for your home state colleges. Your 'home state' becomes Rajasthan as that is where you gave your board exam. So getting into a good college through AIEEE score (where state rank is considered) is next to impossible.
Lastly, in the last one year Bansal's has increased the intake substantially. The toppers come there anyways, there's no harm in admitting more and letting them live the dream. Why give other coaching classes any business?
Disclaimer: Although we share the same last name I am in no way related to Bansal classes!
Tuesday, February 26, 2008
And now, 'Topper TV'
Just noticed the test signal of 'Topper TV' (Tata Sky channel # 570). This is a whole new channel dedicated to tutoring science students of CBSE class 10 & 12.It is decades since I myself gave a Board exam but here's what I felt after watching it over an hour or so.
The chemistry class 12 episode featured covalent bonds, amorphous and metallic crystals and so on. Most of the lesson consisted of the teacher reading out the TV version of a powerpoint slide. To prevent students from falling asleep he had worn a
bright red shirt and some fancy graphics jump across the screen from time to time.
The 'Exam Special' on polynomials and quadratic equations was a little better. A lady in pink salwar kameez (Priya Venkatraman) was the presenter. The speed at which sums were being solved was a little fast (those in the thick of it may feel differently!).
The helpful part was the constant references to what Qs were likely to appear and tips on how to write your answers (eg include steps as there are marks for steps).
However it all seemed quite far removed from Greycells18 co-founder Sricharan Iyengar's assertion that 'Topper' would feature a group of 'star teachers' who have been carefully identified.
With exceptional track records - iconic and inspirational – these individuals come armed with experience gathered from teaching in the best institutes of the world, coupled with a passion for their subject. This team will present modules to students in the simplest manner.
Yes, the "educators" of the channel include Chandralekha Singh, PhD from University of California, currently teaching at Pittsburg University; Shankar Venkatagiri, Phd from Georgia Tech, currently teaching at IIM Bangalore; and so on. But I can't help think that it might be better to get famous coaching class teachers instead. Because they have far more passion, enthusiasm and a more individual style.
Topper TV is free to air till April 15. There is also a website with online tests and an 'ask the expert' feature. The TV + website package is being called an "Integrated Learning System". I guess students would be asked to pay in various ways, in due time.
Topper TV can't replace the traditional coaching class model and for that reason I see the website being more useful than the TV version. The average student would attend school, then go for classes, come home, eat, and put on the TV to relax a bit. Not watch sums being solved...
But who knows. Maybe the point is like joining a gym. You do it but don't necessarily work out everyday. Parents will make all kinds of investments in the interest of educating their kids.If all the neighbours have a subscription, dijiye humein bhi!
And TV has such huge reach - so it makes sense vs an only-internet offering. Can't recall the name of the company but there was precisely such a dotcom in 1999-2000. Now defunct, of course!
As for me, I will switch to Topper TV anytime I have difficulty falling asleep :)
Friday, February 22, 2008
Oops he did it again!
I first saw this video on the TV unit of the treadmill in my gym. There was no sound, only visuals and this is what it looked like:
A man in a Greek lungi and Jesus-like hair, complete with crown of thorns, showing off a scrawny, Wipro babysoft chest. ("I know Mummy, I really should have had my Horlicks!")
So I came home and searched for it on Youtube. The song is called 'Soona Soona' and it's from his new semi-classical album. The video is described as 'Krishna meets Christ meets Eros' (which explains the peacock feather on his back I guess!).
I just don't see this taking off... Once again, the guy who is so good at Bollywood side of his career is making a hash of it by trying too hard. Semi classical + Soft romance + Corny costumes is like Paratha eaten with Strawberry and Vinegar.
In effect it's one of those vanity albums which won't sell but will have people nodding, arre yeh to classical bhi accha gaata hai. Is liye kapde pehen kar bhi gaya ja sakta tha!
Then there's Amit Sana (the guy who lost to Abhijit Sawant in the Indian Idol finals some years ago). He's out with a new song, imaginatively titled Yaadein, and a new image to go with it. The nerd look is replaced with contact lenses and shoulder length locks. Yep, long hair is the killer makeover option for any and all young Indian men these days.
Anyhow, on a first listen the song was okay - not too memorable but he sings well. Trouble is it's all too dark. See the girl hasn't just left the guy - she's left this world. And they tell us how, in the video.
They're in this under-construction building. He puts a blindfold for her (how smart is that!). She is laughing one moment and the next oops! The babe has fallen right off...
Actually, it's like one of my worst nightmares come true. So many times I shuddered at the thought of walking out of the human-size slit in the wall right next to my room in dorm 11 @ IIMA.
Getting back to the song, it's neither a feel-good love song or a 'Woh Lamhe' which is essentially a dance number with lovey dovey lyrics. This is aaaaargh main lut gaya...
Enough said. Back to the treadmill for now!
Thursday, February 21, 2008
Indian Premier League: Money Talks
The bidding for players at the Indian Premier League yesterday, along the lines of European football, has every newspaper this morning in a tizzy.
And of course, MS Dhoni being 'bought' for Rs 6 crores by the Chennai franchise is something to marvel at. But the Economic Times takes it over the top with this page 5 headline: 'Mahi stumps Mukesh at Cheque point'.
The chief executive officer of the Men-in-Blue Mahendra Singh Dhoni, who has been bagged for Rs 6 crores for the cricket league, has overtaken Mukesh Ambani, chief of India's largest private sector company in terms of compensation.
The next para goes on to say "The comparison is not apt but on a per hour basis Dhoni will be paid more than Mr Ambani.." Blah blah blah. If the comparison is not apt, why make it? Just because you have a calculator?
And by this calculation over the 44 days of the tourament in 20:20 format Dhoni will make Rs 56, 818 per hour while Mukeshji, who drew Rs 30.46 crores through salary, perks and commissions last year would have earned Rs 34, 771 per hour.
In case of Dhoni, by the way, the calculation 'discounts the actual time that Dhoni spends on the field for Chennai...". And of course the time he spends in training, sleeping, eating and merely being alive so he can play.
Not sure how Mukeshji's time has been accounted for. What part of his life is treated as being 'on the field'?
The point being that a person is the sum of his or her parts. The one hour that a cricketer or a consultant can charge is a reflection of who he is and what he can do. And that is a result of so many things... including how many hours of sleep he can get in a night!
And three paras into this oh-so-breathless story the writer drops a googly: We are, of course, not accounting for the dividend payout to Mr Ambani as the promoter of Reliance Industries... or the fact that he regularly features in standard lists of world's wealthiest tycoons.
And so it goes. There is no reason a story so bereft of purpose deserves half a page in the country's largest pink paper. At best, it could have been a small box item, a tongue in cheek kind of observation made as an aside.
The Salary Circus
Actually, the media is currently completely obsessed with salaries. The result is every employee is convinced the guy in the next cubicle or the neighouring industrial estate is earning twice as much as me.
Yes, salaries are rising and there are some folks getting paid what seem like princely amounts. And I say seem because hello, one crore buys you a flat in Ghatkopar these days.
A couple of months ago Business Standard released its anual 'Richest Indians' listing based on data from publicly listed companies. The survey noted that the number of senior executives earning more than Rs 1 crore annually increased to 576 from 442 in 2005-6.
HR consultants quoted by the paper admit this number would be twice as much if you include senior execs from unlisted companies, consultancies, foreign banks and such like. They estimate that the top salary in sectors like retail and management consulting could be anywhere between Rs 5 to Rs 7 crores.
But as R Suresh, MD of executive search firm Stanton Chase observed in BS: "The share of 'salary' as an element of the overall compensation plan is dwindling". Read the fine print. It's all about perquisites, stock options, share of profits, deferred payments and of course perfomance bonuses (esp. relevant in investment banking).
Compensation is stuctured in complex ways to beat the taxman. At the end
of the day it's the lifestyle enjoyed by the individual which matters.
To that extent there are thousansds of crorepatis who just do not get reflected in official salary statistics. From our grubby politicians and public servants with mountains of cash to the exporter in Ludhiana whose firm earned an 8 crore profit last year but whose 'salary' is something like 3 lakhs p.a.
Even the smallest businessman debits almost all his living expenses to the company and draws a relatively modest salary. And remember dividend which is non-taxableand taken full advantage of!
The other asset a smart businessman builds is valuation for the company as a whole. If you really want to be 'rich' the only way is to take the risk of building a successful, publicly listed or privately tradable company.
Coming back to IPL, sports is big business and sportsmen draw high compensations because they have a limited period of peak performance. Some may go on to become actors or commentators but most will build a nest egg which they can live off post 40.
Let's hope once IPL actually kicks off we see great cricket. Instead of calculations of how many rupees each ball bowled by Bhajji costs!
And of course, MS Dhoni being 'bought' for Rs 6 crores by the Chennai franchise is something to marvel at. But the Economic Times takes it over the top with this page 5 headline: 'Mahi stumps Mukesh at Cheque point'.
The chief executive officer of the Men-in-Blue Mahendra Singh Dhoni, who has been bagged for Rs 6 crores for the cricket league, has overtaken Mukesh Ambani, chief of India's largest private sector company in terms of compensation.
The next para goes on to say "The comparison is not apt but on a per hour basis Dhoni will be paid more than Mr Ambani.." Blah blah blah. If the comparison is not apt, why make it? Just because you have a calculator?
And by this calculation over the 44 days of the tourament in 20:20 format Dhoni will make Rs 56, 818 per hour while Mukeshji, who drew Rs 30.46 crores through salary, perks and commissions last year would have earned Rs 34, 771 per hour.
In case of Dhoni, by the way, the calculation 'discounts the actual time that Dhoni spends on the field for Chennai...". And of course the time he spends in training, sleeping, eating and merely being alive so he can play.
Not sure how Mukeshji's time has been accounted for. What part of his life is treated as being 'on the field'?
The point being that a person is the sum of his or her parts. The one hour that a cricketer or a consultant can charge is a reflection of who he is and what he can do. And that is a result of so many things... including how many hours of sleep he can get in a night!
And three paras into this oh-so-breathless story the writer drops a googly: We are, of course, not accounting for the dividend payout to Mr Ambani as the promoter of Reliance Industries... or the fact that he regularly features in standard lists of world's wealthiest tycoons.
And so it goes. There is no reason a story so bereft of purpose deserves half a page in the country's largest pink paper. At best, it could have been a small box item, a tongue in cheek kind of observation made as an aside.
The Salary Circus
Actually, the media is currently completely obsessed with salaries. The result is every employee is convinced the guy in the next cubicle or the neighouring industrial estate is earning twice as much as me.
Yes, salaries are rising and there are some folks getting paid what seem like princely amounts. And I say seem because hello, one crore buys you a flat in Ghatkopar these days.
A couple of months ago Business Standard released its anual 'Richest Indians' listing based on data from publicly listed companies. The survey noted that the number of senior executives earning more than Rs 1 crore annually increased to 576 from 442 in 2005-6.
HR consultants quoted by the paper admit this number would be twice as much if you include senior execs from unlisted companies, consultancies, foreign banks and such like. They estimate that the top salary in sectors like retail and management consulting could be anywhere between Rs 5 to Rs 7 crores.
But as R Suresh, MD of executive search firm Stanton Chase observed in BS: "The share of 'salary' as an element of the overall compensation plan is dwindling". Read the fine print. It's all about perquisites, stock options, share of profits, deferred payments and of course perfomance bonuses (esp. relevant in investment banking).
Compensation is stuctured in complex ways to beat the taxman. At the end
of the day it's the lifestyle enjoyed by the individual which matters.
To that extent there are thousansds of crorepatis who just do not get reflected in official salary statistics. From our grubby politicians and public servants with mountains of cash to the exporter in Ludhiana whose firm earned an 8 crore profit last year but whose 'salary' is something like 3 lakhs p.a.
Even the smallest businessman debits almost all his living expenses to the company and draws a relatively modest salary. And remember dividend which is non-taxableand taken full advantage of!
The other asset a smart businessman builds is valuation for the company as a whole. If you really want to be 'rich' the only way is to take the risk of building a successful, publicly listed or privately tradable company.
Coming back to IPL, sports is big business and sportsmen draw high compensations because they have a limited period of peak performance. Some may go on to become actors or commentators but most will build a nest egg which they can live off post 40.
Let's hope once IPL actually kicks off we see great cricket. Instead of calculations of how many rupees each ball bowled by Bhajji costs!
Wednesday, February 20, 2008
Jodhaa Akbar humour
Jai Arjun Singh has a hilarious review of Jodhaa Akbar. He admits - tongue firmly in cheek - that parts of the review are 'as authentic a representation of the film as the film itself is of the Mughal era'. In his own words..
To prove that he is worthy of ruling the country, Akbar then takes on a wild elephant in a scene that is reminiscent of Hrithik’s superhero-racing-the-horse in Krrish. But what really puts his courage to the test is when he agrees to wed the Hindu princess Jodha to complete a political alliance: her long list of demands includes the right to sing bhajans loudly in the next room while he is discussing matters of state with his viziers.
Sadly the marriage remains unconsummated because by the time J and A have finished removing all those layers of jewellery they are no longer horny and only wish to sleep...
That last bit struck me as I was watching the film too. Many comforts of life were missing in the 16th century - flush toilets, electricity, Kellogg's cornflakes. But surely they had the concept of 'night clothes'? On some three different occasions Jodhaa falls asleep in full bridal armour.
The other amusing thing in the film was how the rajas and ranis would suddenly call out for all hangers-on to recede into the background when they wanted a moment of privacy. And the phrases they used included: 'Takliya', 'Hadde faasal' (in the Mughal court) and 'Ekaant' in Rajputana.
And celebs of today claim they have no privacy!
Anyhow, the JAM team has put together a 'Mind It' version of Jodha Akbar - a series of spoof wallpapers (we call them 'eyestoppers'). Check them out here.
What's more you can also buy this 'Yoda Akbar' T shirt designed by JAM.
Just thought I'd let you know!
To prove that he is worthy of ruling the country, Akbar then takes on a wild elephant in a scene that is reminiscent of Hrithik’s superhero-racing-the-horse in Krrish. But what really puts his courage to the test is when he agrees to wed the Hindu princess Jodha to complete a political alliance: her long list of demands includes the right to sing bhajans loudly in the next room while he is discussing matters of state with his viziers.
Sadly the marriage remains unconsummated because by the time J and A have finished removing all those layers of jewellery they are no longer horny and only wish to sleep...
That last bit struck me as I was watching the film too. Many comforts of life were missing in the 16th century - flush toilets, electricity, Kellogg's cornflakes. But surely they had the concept of 'night clothes'? On some three different occasions Jodhaa falls asleep in full bridal armour.
The other amusing thing in the film was how the rajas and ranis would suddenly call out for all hangers-on to recede into the background when they wanted a moment of privacy. And the phrases they used included: 'Takliya', 'Hadde faasal' (in the Mughal court) and 'Ekaant' in Rajputana.
And celebs of today claim they have no privacy!
Anyhow, the JAM team has put together a 'Mind It' version of Jodha Akbar - a series of spoof wallpapers (we call them 'eyestoppers'). Check them out here.
What's more you can also buy this 'Yoda Akbar' T shirt designed by JAM.
Just thought I'd let you know!
Tuesday, February 19, 2008
IIM -----> Ganjundwara
Books by IIT and IIM grads about their work-in-progress lives are now an established genre of writing. So I won't refer to the new effort by Rohithari Rajan as 'another one of those'.
I think each of us has an interesting story to tell and so is this one. The trouble lies in the way it's told. First of all the title: IIM ----> Ganjundwara (yes, that's the way it appears in print!). Reminds me of a flowchart - dry and logic driven. And that's how most of the book comes across: no heart, all head.
IIM ---> Ganjundwara is the story of two young IIM A grads who are sent to live in a village as part of the famed HLL sales training program. The 'training' is more about just dealing with the culture shock, experiencing what it's like to live in rural India. Of course, a couple of projects do need to be completed and here the idealistic Shyam decides they will take up something which will actually 'make a difference'.
The main problem is most of the book is written in third person, instead of flowing along easily and conversationally. To give you an example.
Dacoity is unheard of nowadays, we are told. All the big bandits and their gangs surrendered to the government and became politicians. Safer, more glamorous, and the money is better.
"Understanding the role of caste politics is very important to understand the region," continues the BDO."Each village is dominated by some particular caste." There are Jat villages, Mohammedan villages, Brahmin villages, and village dominated by one or the other of the innumerable castes and sub-castes that make up the complex rural Indian social structure.
And that's the second problem: the language. The BDO speaks in pure English, like Nandini Sardesai lecturing at St Xavier's college. And so it is with Martand Tiwari, the sarpanch of village Ranpurgaon, who is their host. And his brother Anuj who becomes their friend. The use of a few Hindi or Bhojpuri words and phrases would have made it so much more genuine!
Lastly the character of Shyam - the trainee who suffers the rural stint with our protagonist (don't know his name, not sure if it was mentioned anywhere even!) He is this idealist and was a little too cardboard. It's like he was being set up to meet a certain fate (will not say more, read the book if you wish to know!).
And no, there's no Brokeback Mountain happening here, in case you were wondering. That would have been too too much for fair and lobhely loving Ranpurgaon.
This could have been a great book with better writing and tighter editing. As it is, worth a read if you are curious to know what rural marketing and Project Shakti is really about.
However IMHO the definitive 'what it's like to work at HLL' book remains 'Earning the Laundry Stripes' by Manreet Someshwar. That also has a couple of chapters on the rural stint at Etah. Sadly this delightful book is not available at most bookshops - at least I have never seen it.
Speaking of IIT-IIM type books there is also 'Joker in the Pack', sent to me by Ritesh
Sharma and Neeraj Pahlajani a couple of months ago. Guys, I'm sorry I did not review it although I did read it. Again, I can see a lot of effort went into it but the final result kind of left me cold. I did not care about Shekhar Verma and what he went through.
And I felt you basically 'educated' the reader about what life in IIM Bangalore was all about Instead of - for those couple of hours - immersing me in that world. But again, if I were a wannabe MBA or a nostalgic alum, I may want to read it. Especially for an insight into the current placement circus!
I think it's simply project report and PPT hangover. Maybe they should start a new variation of the classic WAC course @ IIM: "Wannabe Authors & Communication".
I think each of us has an interesting story to tell and so is this one. The trouble lies in the way it's told. First of all the title: IIM ----> Ganjundwara (yes, that's the way it appears in print!). Reminds me of a flowchart - dry and logic driven. And that's how most of the book comes across: no heart, all head.
IIM ---> Ganjundwara is the story of two young IIM A grads who are sent to live in a village as part of the famed HLL sales training program. The 'training' is more about just dealing with the culture shock, experiencing what it's like to live in rural India. Of course, a couple of projects do need to be completed and here the idealistic Shyam decides they will take up something which will actually 'make a difference'.The main problem is most of the book is written in third person, instead of flowing along easily and conversationally. To give you an example.
Dacoity is unheard of nowadays, we are told. All the big bandits and their gangs surrendered to the government and became politicians. Safer, more glamorous, and the money is better.
"Understanding the role of caste politics is very important to understand the region," continues the BDO."Each village is dominated by some particular caste." There are Jat villages, Mohammedan villages, Brahmin villages, and village dominated by one or the other of the innumerable castes and sub-castes that make up the complex rural Indian social structure.
And that's the second problem: the language. The BDO speaks in pure English, like Nandini Sardesai lecturing at St Xavier's college. And so it is with Martand Tiwari, the sarpanch of village Ranpurgaon, who is their host. And his brother Anuj who becomes their friend. The use of a few Hindi or Bhojpuri words and phrases would have made it so much more genuine!
Lastly the character of Shyam - the trainee who suffers the rural stint with our protagonist (don't know his name, not sure if it was mentioned anywhere even!) He is this idealist and was a little too cardboard. It's like he was being set up to meet a certain fate (will not say more, read the book if you wish to know!).
And no, there's no Brokeback Mountain happening here, in case you were wondering. That would have been too too much for fair and lobhely loving Ranpurgaon.
This could have been a great book with better writing and tighter editing. As it is, worth a read if you are curious to know what rural marketing and Project Shakti is really about.
However IMHO the definitive 'what it's like to work at HLL' book remains 'Earning the Laundry Stripes' by Manreet Someshwar. That also has a couple of chapters on the rural stint at Etah. Sadly this delightful book is not available at most bookshops - at least I have never seen it.
Speaking of IIT-IIM type books there is also 'Joker in the Pack', sent to me by Ritesh Sharma and Neeraj Pahlajani a couple of months ago. Guys, I'm sorry I did not review it although I did read it. Again, I can see a lot of effort went into it but the final result kind of left me cold. I did not care about Shekhar Verma and what he went through.
And I felt you basically 'educated' the reader about what life in IIM Bangalore was all about Instead of - for those couple of hours - immersing me in that world. But again, if I were a wannabe MBA or a nostalgic alum, I may want to read it. Especially for an insight into the current placement circus!
I think it's simply project report and PPT hangover. Maybe they should start a new variation of the classic WAC course @ IIM: "Wannabe Authors & Communication".
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