Raising Funds To Philanthropy — Nikhil Kamath, Kumar Birla Discuss Leadership, Legacy, And Business Evolution
Kumar Birla discussed why creativity is necessary for business growth and the importance of building a people-centric organisation.
If you have ambition, get a good team. The only way to grow is to have energised teams, according to Aditya Birla Group Chairperson Kumar Birla. In an exclusive conversation with Zerodha Co-Founder Nikhil Kamath and Birla spoke about leadership, legacy, and the evolving role of business in society.
From life lessons to business strategies, the latest episode of Kamath's 'People by WTF' podcast saw Birla share insights for entrepreneurs.
This compelling dialogue bridged two distinct entrepreneurial worlds— Kumar Birla, a fourth-generation titan with decades of leadership at the helm of a global conglomerate, and Kamath, a trailblazing first-generation disruptor redefining India’s financial landscape, while driving innovation across his ventures.
On Business And Leadership
Kamath and Birla offered perspectives on running a business. Birla discussed why creativity is necessary for business growth and the importance of building a people-centric organisation.
"I think the most creative thing that you can do is run a business. As a business grows and scales, you need to keep creating value and that's when management changes from being a science to an art. At that scale, you really need to think out of the box, and so more creativity is required," he said.
He further noted, "Our business is not a family-run business, it is a people-run organisation. You need to choose the right people to work with. For that, your DNA needs to allow you to trust in people. Across the group, we’re 1,87,000 people, but we work as one team with one common purpose and that is a very energising kind of environment to be in."
On Raising Funds
While discussing entrepreneurship, private equity, and venture capital investments, Kamath shed light on how private equity and venture capital investments have significantly fueled India's growth story.
"I feel private equity and venture capital serve a very useful purpose in the marketing of the India story outside of India, in order to bring foreign capital into India. This has subsidised consumption for the people in India and industries grew on the backs of these investments."
For entrepreneurs, Birla emphasised on the importance of consistency, adaptability, and the wisdom to know when to pivot.
"There really is no substitute for hard work. The soft power of consistency is something that entrepreneurs don’t always value. As you grow in your career, it is good to know the importance of consistency early on. Also, an entrepreneur should have the instinct to know when it is a good time to pivot. If you have mature businesses and you see that growth rates are peaking, you need to invest in new engines of growth. If you have ambition, get a good team. The only way to grow is to have energised teams," advised Birla.
On Philanthropy, Capitalism, And True Meaning Of Legacy
The conversation delved into diverse perspectives on philanthropy, philosophical schools of thought, and the meaning of legacy.
“Legacy to me is more about impact, not so much about accolades. It is about the way you connect with people, what you give back to society, through business, and impacting impacts lives, and families in a direct way," Birla said.
In corporate context, giving back is not generosity, it is almost a responsibility. It’s something that one ought to be doing in the first place and there is no reason to make a big deal out of it. This is especially important as corporates are going to be one of the most important stakeholders globally, he said. "When you’re getting so much, giving back is just a part of the charter of a business."
Having pledged to donate half his wealth to the Gates Foundation, Kamath shared the same thought on giving back, but also had a different take.
"I think the notion of legacy is overrated. We often believe we're far more important than we are. You're born, you live, and you die—like every other being on this planet. What matters is how you treat people during your lifetime, not what people think of you after you're gone," he said.
As for philanthropy, Kamath does it because it feels right to help others, especially since he doesn't intend to leave his wealth behind for the banks or anyone else, he said.
