This Too Shall Pass & We Will Come Out Of It Stronger, Says Raj Nayak
The Covid-19 outbreak has been the ultimate test of resilience for humanity. The global economy has been hit, millions of people are out of jobs, mental health has become an issue, people are scrambling to survive. What advice do you have for people especially young entrepreneurs? Everything eventually is about your state of mind - it depends upon you whether you want to be cheerful or sad. For an entrepreneur, the current scenario is very challenging because the future is uncertain. I am an optimistic person and believe that in every adversity there is an opportunity. My advice is that If you feel stressed out, keep reminding yourself that things are not in your control. Just be optimistic and know that this too shall pass and we will come out of it stronger.
What is the definition of good leadership?
Good leadership is about being transparent – it is about trust and being open with your employees. It is about carrying everybody along with you. This is the period in which it is even more important to show empathy, trust and transparency and carry your people with you.
How can entrepreneurs cope with mental health issues in such unprecedented times?
If one has mental health problems one must seek help. One has to be positive and stay motivated. The biggest thing about entrepreneurship is the ability to take risks. Great entrepreneurs are those who have the ability to take risks, who have the conviction and courage to get through rough times.
You turned an entrepreneur, you had plans and you raised funds but sometimes whatever you plan goes for a toss. What is Raj Nayak doing? You were launching a mental health product from the House of Cheer in the well-being space. What is the perfect time to launch that?
Everything that I thought I would do in the last six months of setting up House of Cheer has gone for a toss. Half the times in our lives, we are wondering what other people are going to think. We rarely live for ourselves. The moment you start living for yourself and leave the pretence, your fear will go out of the window. In our case, we had a plan to launch a product in the business of happiness. These tumultuous times have given our plans a pause for the moment but we will be back on track soon.
Do you think that spirituality is something that young entrepreneurs should follow?
I would say being mindful is more important.
The top three philosophical lessons you have learnt and that you apply in daily life ?
Gratitude is a big thing. We have to be grateful for what we have and give thanks for the privileges we have. This is the time when the world needs empathy and more authenticity. One of the things that I would like to believe is that once this tough time is over, people will be more compassionate and empathic. They will begin to value everything they took for granted.
While there are so many people who would come to you for advice who are the people you go to for advice on life and business?
Right now I do not have anybody but till about three years ago it was my mother. Be it a business decision or a personal one she would help me out because she had wisdom. She would give me the right advice and she was my go-to person.
What is your prediction for the media entertainment and content industry ?
I think the content will grow and it is a golden era for content creators. It will be a great year for content creators and content producers. One thing that this situation has done is that a lot of people have actually consumed a lot of new content. Doordarshan has gone back to becoming the number one channel - people are watching old shows again.
What do you think about advertising, do you see it coming back or declining in the time ahead?
I see advertising coming back but it won't happen overnight because businesses have to get back on their feet first.
How do you define success? Is it money, happiness or the ability to do what you always wanted to do?
Happiness is the ultimate, it what everybody wants to get. Wealth doesn't necessarily get you happiness. Maybe it is an ingredient that will help towards happiness. For entrepreneurs, I think that adrenaline rush, wanting to be your own boss and being independent is what gives you happiness. The generation today is not like our parents that they join a company and stay with it for years. The new generation needs validation and recognition. They think less about security instead they want instant gratification, and they want it now!
What are you reading these days?
RN: ‘The Killing in the Consulate’ - It is about the death of Jamal Khashoggi.
Please leave us with a parting message.
I want to tell everyone out there that these are very challenging times but we need to stay positive and will get through these difficult times. Of course, follow the protocols laid out by the Government and all will be well.
