Consolidators is written by Prince Mathews Thomas and published by Penguin.
About the Author: Prince Mathews Thomas is a veteran journalist. He wanted to be a newspaperman, but then grew up to realize that journalism is not about delivering papers but the news itself. Mentored by K.Thomas Oommen, the iconic teacher, Prince started off with The Week, and later worked in Business Standard, The Economic Times. Dow Jones Newswires and Forbes India. A Chevening Scholar, the author is currently the senior deputy editor at The Hindu Business Line. Prince is otherwise a confused Indian, having lived in Bokaro, Hyderabad, Delhi, Mumbai, and Chennai. His roots are in Kerala.
In this book, Prince takes us through the stories of seven super-successful, second-generation entrepreneurs who showed imagination, gumption, and foresight in turning around the companies they inherited from their fathers.
We always tend to hail the first generation entrepreneurs, equally important is the second generation. They are the ones, who either take business to next level or pull it down. There are no second thoughts, that the first generation entrepreneurs, paved the way, they generate the much-needed capital, which is the lifeblood of any business. Once the capital is there, innovation and experimentation are possible. But it requires knowledge, guts, vision to implement the innovation.
The fact is very well highlighted, through the case study of Mr.Ajay Bijli, founder of PVR Cinemas. His father had a successful transport business in Old Delhi. But he had no inclination for that business. The family also owned a picture hall, more for social welfare. When Ajay traveled to the western country and experienced multiplex, for the first time. He realized where his passion lies, and what he wants to offer to Indian movie goers. He returned back and shared his plan with his father. Initially, his father was not convinced but being a doting father, he decided to give Ajay a chance. That was all that was needed, Ajay hired the best of the people and revamped the movie hall. He got the rights for showing English movies. Neat clean ambiance, with Dolby everything, fall into place. Moviegoers loved the experience and PVR Priya became an icon. After the success of his first venture, Ajay went on a takeover spree, he also worked out deals with major Hollywood studios. Another case study, which inspired me was of Abhishek Khaitan, the kind of choices he made and the risk he took, established Khaitan in the spirit business.
This book is a must-read for all the entrepreneurs and also for those, who feel stuck in business. Prince has very well highlighted the fact, that innovation and risk-taking ability can take any business to great heights. This book can also act as a good learning ground for management students.