The 'HSGL' quotient in business

Dad, what a funky-looking book you’re reading, unlike the dull business ones you normally read.” That was my 12-year-old’s comment on seeing me with Heart, Smarts, Guts and Luck (HSGL). It did strike me then that the attractive combination of colours and fonts on the cover of this book stood out and attracted attention. That comment stayed with me as I continued to read this work. To an extent, it was also descriptive of the authors’ approach to a subject on which there have been numerous previous works.

The authors have been able to differentiate HSGL by their earthy, fresh and unconventional approach to the subject covered in the book. They are eminently qualified to deal with the subject of HSGL, having among the three of them successfully straddled entrepreneurship, being large company CEOs, global consultants and, of late, venture capital investors.

These decades of diverse experiences have enabled the authors to assimilate a deep appreciation as well as first-hand observation of the crucial character traits and habits required for business-building success. They identify the four key characteristic traits, which also form the title of the book, as most essential and common to those successful in business and delve deeply into the different types within these traits, underlying principles and their interplay.

The book attempts to leave the reader with increased self-awareness, fundamental to starting and sustaining businesses, through a liberal sprinkling of anecdotes, case studies and habits integral to the job of successful business-building.

Heard of the three-minute rule, for instance? In case you haven’t, it is based on a simple premise that you can learn a great deal about customers by finding out what they are doing three minutes immediately before and three minutes after they use your product or service. The authors provide some detailed information illustrating how this simple rule has been successfully used by practitioners in various businesses.

The book is dotted with many such simple, though practical, street-smart tools gleaned from interviews and insights from numerous successful entrepreneurs as well as those from unconventional disciplines. Interestingly, the authors have also used as case studies some of their own business successes and failures, providing first-hand validation to some of the recommendations they make. Apart from global success stories, they also cover learnings closer home from some of our own successful entrepreneurs like Narayana Murthy, Ajay Piramal and so on.

The book is divided into 10 chapters. The initial chapter is devoted to defining the dominant traits and profiles of great entrepreneurs, followed by one each on the four characteristics that underpin this book. Another is devoted to the archetypes and iconoclasts, the contrarians who succeed despite going against the grain. This chapter is followed by a final one that puts it all together.

However, only very few of the case studies like that of Thomson Reuters are analysed in detail whereas many others are dealt with perfunctorily and offer observations that are way too simplistic. A more detailed analysis of some more of these would have helped the average reader better appreciate the lessons to be drawn from them. The authors also tend to become repetitive in places, outlining the same message across different sections. This does not, however, diminish either the readability or usefulness of this book to budding entrepreneurs and executives.

The real gem in the book possibly lies in one of the shortest chapters: it is around 15 pages and is aptly titled “Wisdom Manifestos”. In this, the authors have pulled together eight time-tested practices that can lead to “greatest hits”. Readers will find great practical value in the manifestos set out in this chapter, elegantly outlined by the authors through a combination of simple explanations and associated graphics.

Finally, there is also the framework of an online survey that entrepreneurs and those in business can take, called Entrepreneurial Aptitude Test (EAT). The profiling output that the survey throws up is supposed to provide a directional sense of the person’s HSGL profile (disclaimer: I did not try using this tool). The test is also designed to help the reader evaluate trade-offs between the attributes that best describe oneself in the context of business-building or leadership/managerial success in large organisations.

Though the book speaks of the four traits as being necessary for entrepreneurial success, they are equally applicable to anyone who wants to succeed in a high-growth and increasingly globalised work sphere.

HEART, SMARTS, GUTS AND LUCK
What it Takes to be an Entrepreneur and Build a Great Business
Anthony K Tjan, Richard J Harrington and Tsun-Yan Hsieh
Harvard Business Review Press
236 pages, Rs 795