Long before the present
publishing boom began in India, Richard Rothman, then a bureaucrat with the United
States Government in India, published a collection of short stories that was
breathtakingly original.
Then, being the maverick that he
has always been, Richard kicked his comfortable job to launch his own consultancy
– in an area nobody would've thought of as a business proposition – Opportunity.
His second book on the subject The
Power of Opportunity is being launched in Bombay later in January. In a
short, e-mail interview, he talks about his book and ‘Opportunity’.
Richard’s consultancy Open
Mind Consultancy has teamed up with the Penguin India team to create a very
India-centric roadmap to both individual and business success.
What is this book about?
The Power of Opportunity presents
a thorough methodology of thought and action on personal and business
opportunities. It is the first book to attempt to do this since Edward DeBono
published his book Opportunities in 1978.
Why is the book titled The
Power of Opportunity?
Because opportunities have
tremendous power to change our lives for the better. They are the seeds from
which all success grows. For example, a couple years ago I met a 20-year-old
entrepreneur, still a boy really, who had dropped out of college to develop an
internet app. This boy, from a very modest background in Bihar, had managed to
raise $20 million from Tiger Global, a major US venture capital firm.
This example highlights two
fundamental things that give opportunities tremendous power:
1) all opportunities are free.
You can't pay for them even if you want to. There is no “opportunity shop”
where you can buy them. That means that opportunities are available to even to
penniless boys from Bihar.
2) the best opportunities are like
powerful magnets that attract all the resources needed to scale them. Why had
Tiger backed him? Was it because of his track record? Obviously not. Tiger was
pouring resources into the opportunity, not the entrepreneur.
But resources flow only to the best
opportunities, what I call golden opportunities.
Therefore, it is crucial to
consciously choose opportunities by using a systematic process, and not rely on
luck, as most people do. Unfortunately, most people end up pursuing
Nopportunities, which are not opportunities, because they don't use a
systematic process to choose them.
This is the second book you have
written on opportunity. How is The Power of Opportunity different from Master
Opportunity and Make it Big?
My previous book, Master
Opportunity and Make it Big, presented the stories of 18
"Opportunity Masters" who had started with nothing and made it big by
taking advantage of excellent opportunities.
Although all of these people had succeeded, they did not necessarily
understand why. In The Power of Opportunity, I present a
methodology of thought and action which is based on my experience with the over
2,000 businesses I have consulted with over the past 30 years as both an
Opportunity Consultant and Trade Commissioner. Therefore, it is an original
theory which I have developed.
You're probably the only
Opportunity Consultant in the world, what exactly do you do or can do for
corporations and for individuals.
As the first and only Opportunity
Consultant in the world, I offer companies a systematic process to uncover,
recover and discover opportunities for sustained, profitable growth. How am I
different from other management consultants? Most follow the principles of
strategy developed by Michael Porter and others, which uses “competitive advantage”
as the main filter through which to view opportunities. I’ve found that using
competition as a filter can lead to increasing market irrelevance over time.
After all, do your competitors buy your products? Are they part of your team?
Of course not. I focus instead on providing useful service to stakeholders.
You have worked in India for the
last 25 years, in terms of your specialisation (Opportunity) how has the Indian
market changed? Are there more tangible opportunities at present then there
were in the early years of economic liberalisation.
On a macro level, I firmly
believe that India is the greatest land of opportunity in the world today. Half
of India’s population are still subsistence farmers, a business model which is
fundamentally broken in the modern age. Over the coming decades, they will move
to cities and take better opportunities as wage earners and entrepreneurs.
Since the demise of the License Raj in 1991, the Indian opportunities landscape
has liberalized - but it still has a long way to go. The government has got to
focus less on ideology and more on growth through opportunities.
In your sphere of expertise
(identifying opportunities) what changes have you noticed in India over the
last two decades?
The Indian mindset is gradually
shifting from the pre-license raj mode of opportunity through connections,
bribery and extortion, toward a modern rules-based system that rewards
opportunity based on merit. This migration to the rules of the modern era will
take decades, but the trend is in the right direction, and India will benefit
from it.
You have published an amazing
collection of phantasmagorical short stories and a novel. Why did you abandon writing fiction?
I haven't abandoned fiction. I
plan to resurrect and publish my novel eventually. But at this point I'm
focused on spreading the mantra of Opportunity.