TiECon Delhi 2008: Make downturn into an opportunity, experts till budding entrepreneurs

Thats the message from TiE keynote power panel, held on Day 2 of the TiE Conference in New Delhi on October 23, 2008. The panel was addressed by Dr Ganesh Natarajan, Chairman, NASSCOM and CEO of Zensar; Prof Tarun Khanna of Harvard Business School; Mr Rahul Bhasin of Baring Private Equity Capital and Mr Amit Bhatia of Aspire Human Capital Management. Journalist Pranjal Sharma moderated the discussion.

Opening the discussion, Dr Natarajan said, While we are seeing a lot of panic in the markets, and these are clearly uncharted waters, this is not the end of dreams and business building. Strong entrepreneurs should see these times for new opportunities. If you have a robust business plan, and you can survive this downturn, you will emerge much stronger.

Mr Bhasin added, I dont see the current slowdown very negatively. I see it as going back to reality. The wild party is over! Entrepreneurs should go back to basics: be customer centric and solve their problems, increase revenues, and conserve cash. Also talent is less expensive today, so hire the best.

Harvard Business School professor Tarun Khanna saw the current slowdown as a correction of sorts and opined that while the level of challenge is up, budding entrepreneurs shouldnt get bogged down. Said Prof Khanna, I dont know if it will take six months, 16 months or 30 months for the things to stabilize, but the doom and gloom will pass away for sure. Comparing the current crisis to USAs Great Depression of 1929 and Dotcom meltdown of 2000, Prof Khanna advised entrepreneurs to stay focused.

Mr Bhasin ended the panel discussion with an inspiring thought, when he said, Tough times dont last, tough people do!