Indian Billionaire's Advice For 21-Year-Olds - OYO Rooms Founder

who do you emulate rates the person we all pick someone and do it consciously and subconsciously I think as a business person somebody who at least over the last five years when I said that I tried to transform myself especially with the onset of covid or around that four years maybe I think that is UD kotak I think I feel like he's one of those people again first generation entrepreneur most people don't recognize built a bank first generation he's king of delaying gratification yeah and you you sit with him in the room there's a sense of like and every time he begins in say so he like there's just a sense of when you begin the discussions with him there's a sense of um like the world may be burning and he will represent that in words but he would not emote it in actions right like I agree with you 100% but if you have to derive something from this for a 21y old we talking to today what do you think people like UD kotak his generation had that the 21y old today is lacking which is relevant to the world of today I would say three things the first one is being absolutely comfortable to make sure that when your friends are sharing beautiful Instagram stories of going to pubs restaurants or very exciting places um you are pursuing things which are not exciting and you sort of tend to believe that it is because of your circumstances would you say that's delaying gratification that's delaying gratification but I'm just trying to put it going to going to a pub is instant pleasure Center yes right yes there's there's a psychologist who said a very interesting thing what is the difference between pleasure and enjoyment pleasure is having that piece of chocolate which has sugar in it pleasure is having a beer maybe pleasure becomes enjoyment when there is a gap between two pleasurable events and you add memory to it memory happens by virtue of adding a group around it yeah no I think this um the other way to put it is if you look at there's this Netflix documentary which is I think it's called the Blue lines or blue zones BL zones blue zones right which talks about longetivity and and longetivity has something similar which talks about a sense of community happiness but at the same time making sure that your food habits Etc are sort of not designed for short-term pleasure but long-term enjoyment rather okay delaying ratification not not succumbing to the short-term Pleasures absolutely and also not having to conform to average people like average um uh pure pressure around you right like I think don't you think this generation has that in check compared to UD kak in that generation they were more conformist than the 21 year olds of today I think uh the 21 year olds uh have if I were to uh reverse the word of uh Conformity pure pressure to look the best on social media to make sure they dress the best to make sure that they have the best number of posts to make sure they have the most number of likes so you would say social pressures social social pressure that's probably a better word to it U but I think to avoid it significant extent is a very critical thing because that pressure is so high and so noisy today that it can end up pushing you towards doing things with no patience no patience underline if that is there at least they can handle all that because and I grew up in like similar generation now I think 10 years back is already a generation apart but I think 10 years back when I was growing up uh people around me would look at me and say that guy is's a dock right like AB absolute dock studying all the time doing business who does this when they are 19 and if you uh get bothered by it you will lose in my view the number one thing that it takes to get an entrepreneurial success or any success which is perseverance like being at it for long periods of time because there there are so many reasons to give up no right should not get one one layer under your skin so for example like I told one of my friends is Metro station in Delhi bti is like um aach roof uh room at the top of a house so that's where I used to live when I first moved like most people who move to Delhi live there so but I had never told him it's a because you don't tell normal I just said right like a usual kid this was a wealthy kid there were some kids I was friend with not when I was starting my business in Delhi a usual kid would have gotten so bothered that they would have stopped calling people to meet themselves but for me it was very comfortable I was very okay with saying that people will say this to me and if I do well in life it'll be all right if not then this is the means I have so being okay to let go of social pressure is what I would encourage and I also got bothered by it a lot of times that when I was 19 19 but I also got bothered by it but I recognized what can be [Music] wor they were similar Rebels Without a Cause so UD kotak you said so first is delay gratification delay gratification second is not social no social as indifference is the new cool indifference is the new cool absolutely and the third one is I think a sense of humility and humility in decisions which uh can be very large so for example now is when I meet young entreprene you think humility is counterintuitive to self-confidence which we established is a prerequisite for someone looking to start up no I think they they are independent uh strong characteristics I think you can can you be self-confident and humble yes you can be self-confident give me a for instance so uh self-confident would mean that I can build oo into a incredible success humble is um it's the first time I'm building a hotel business so um I don't know what will go in this journey but I will figure it out so I think that's at least that's my view but to the third point will you add to the end of that line can you help me his point of no ego willing to bend your back absolutely absolutely and I and I'll explain an example with UD kotak's example right he built a fantastic franchise um in his previous AAR before the bank M and he was so he started a um Bill discount business if I remember it right he was okay to add the Mahindra name to the bank mhm right he had built a big business he didn't need to do it yeah but he was okay to do it nowadays when I meet entrepreneurs who have just started the business not all like 90% of them like I'm surprised young entrepreneurs can be so bright and they have all these characteristics but there's some people who have this sense of saying that a sense of um superiority that I have done so much already M I think um for people in that generation like him like Naran morti and various others they built incredible businesses but we're still able to accept that but in comparison I'm still a rounding error and I have to do a lot more and I think that was that humility that allowed them to become you know a bigger version of themselves uh consistently hi I'm nikil Kut I'd love to know what you thought of the episode uh comment like and subscribe and thank you for watching

Channel: Nikhil Kamath Clips

Views: 492,394

Keywords: nikhil kamath, nikhil kamath podcast, zerodha co founder, wtf is with nikhil kamath, tanmay bhat podcast, nikhil kamath tanmay bhat podcast, startup podcasts, business podcasts in india, zerodha, nk

Id: fRCndnyrmG4

Length: 8min 32sec (512 seconds)

Published: Sat Mar 09 2024