PC Musthafa | Harvard Kennedy School

Summary

The speaker, hailing from a remote village in South India, shares his inspiring journey from a humble beginning to founding a successful breakfast brand, ID Fresh Food, which serves millions of Indians daily. He emphasizes the importance of innovation through common sense, avoiding shortcuts, and upholding ethical values in business. The talk concludes with a heartfelt tribute to the speaker's mother, highlighting the significance of family support in one's journey to success.

Takeaways

• 😀 The speaker's journey began in a remote village in South India, highlighting the power of dreams and perseverance.
• 🏆 The speaker's business, iD Fresh, started with a vision to create a product that would one day be studied as a case study, emphasizing the importance of setting high goals.
• 👨‍👧‍👦 The speaker's father was a daily wage worker, and his success is a testament to the impact of education and hard work in transforming lives.
• 💡 The introduction of the 'Vada Puff' is an example of disruptive innovation, solving a century-old problem with a simple yet effective solution.
• 🔄 The story of the 'Vada Puff' also illustrates the importance of not giving up on ideas, even when faced with challenges and skepticism.
• 🚫 The decision to reject the order from Taj Hotel for diamond cuts due to ethical concerns demonstrates the value of staying true to one's values in business.
• 🛑 The speaker advises against taking shortcuts in life, as they can lead to compromises that may not align with one's long-term goals and values.
• 💼 The speaker's experience with the Taj Hotel order underscores the importance of aligning business decisions with personal and professional ethics.
• 🤝 The 'Unmanned iD Coolers' campaign is a powerful example of building trust with customers through transparency and honesty.
• 🌟 The speaker's story is a reminder that success can come from humble beginnings and that one's background should not limit their aspirations.
• 👏 The final message encourages the audience to be the change they wish to see, to trust others, and to take leaps of faith in their endeavors.

Q & A

What was the speaker's initial dream during his MBA studies?

The speaker's initial dream was to build a business that would be listed as a case study in Harvard one day.

Where is the speaker originally from?

The speaker is originally from a very remote village in the state of Kerala, South India.

What was the speaker's childhood like in terms of education and food?

The speaker's childhood was marked by hardship, with walking miles to school and having a three-time meal being a distant dream.

What was the speaker's first job after engineering?

The speaker's first job after engineering was with Infosys, where he worked in India, Europe, and the Middle East.

What is ID Fresh and when was it founded?

ID Fresh is a breakfast food company co-founded by the speaker with his cousins in 2005, which has now become a 100 million dollar brand serving breakfast to 2 million Indians daily.

What is the significance of the 'water pack' innovation mentioned in the script?

The 'water pack' is an innovative product that helps homemakers make perfect 'vadas' (a type of snack) at home without touching the batter, addressing a century-old problem with a simple and natural solution.

What ethical dilemma did the speaker face in 2008 with the Taj Hotel order?

The ethical dilemma was whether to accept a large order from Taj Hotel for a product that would be used as a bar snack, which the speaker felt would be promoting the liquor business, conflicting with his value system.

Why did the speaker reject the Taj Hotel's order?

The speaker rejected the order because it conflicted with his ethical philosophy and the company's focus on serving healthy food to homemakers, rather than becoming a contract manufacturer for the liquor industry.

What innovative campaign did ID Fresh use to build trust with customers?

ID Fresh set up unmanned coolers in apartment complexes with their products and a money box, relying purely on trust for customers to pay for their purchases.

What is the main message the speaker wants to convey to entrepreneurs?

The main message is to identify burning issues, use common sense to solve them, avoid shortcuts and compromises on value systems, and trust customers, as these are the best ways to build a successful and ethical business.

What tribute did the speaker end the speech with and why is it significant?

The speaker ended the speech with a video tribute to the most important person in his life, his mother, signifying the importance of family support and the personal sacrifices made in the pursuit of success.