Tag: Successful Entrepreneur

  • Spicetree founder’s fuelling thoughts on how to be a successful entrepreneur

    This article is contributed by Mr. Shiraz Khan, Founder/Director, Spicetree Design Agency. SDA is an integrated digital solutions agency with expertise in developing strategies across web design/development, print designs, digital marketing to brand identity and consultation in products & services.

    When you start a business and see it evolve into a successful organization, it is natural to think that it is all because of you. You start feeling like the boss. As the owner/founder of the business or the CEO.

    If you think entrepreneurship is about being the boss, then you are completely off the target. Any managerial position gives you the authority to issue orders, give instructions and ask people to follow your command. However, it doesn’t make you a successful entrepreneur. After having spent long years leading the team towards greater achievements, I (Shiraz Khan) can say with confidence that one can lead only by example.

    The first and foremost thing that every entrepreneur should remember is that they can’t complain. The business you have built is structured by your vision, and where it will go also depends on your vision for the future. Whether it is smooth sailing or adversity, an entrepreneur never loses sight of the big picture, and even in the toughest scenarios, they will focus on finding solutions and making progress. This hunger should never get satiated.

    One of the best ways to do so is to display solid work ethics and a zeal to perform. Be the first one to arrive at work and the last to leave.

    Isaac Newton had once remarked, “Opportunity is missed by most people because it is dressed in overalls and looks like work.”

    Every working day, I reach the office early just because I know that nothing works better than showing the way. People will adopt best practices when they see them in action. Instead of preaching the virtues of punctuality and an early start, I prefer to demonstrate how it is done.

    To be honest, there is ample chance of being misunderstood by people. Some people might see it as indirect pressure, and others as old-school practices, but what truly eggs me on is that my actions as a leader are going to motivate people to focus on self-improvement. I am giving them the reason to walk the path of self-betterment. It is this responsibility of a leader, and the opportunity to bring about a change each day, that makes me step forward with double enthusiasm, each morning.


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    A major challenge that I have seen a lot of people struggle with, is monotony, boredom, or the complacency that creeps in subtly and creates a negative, low-energy environment at workplaces. It is important to be constantly on the guard against such a negative state of mind. As a leader of my pack, I enthusiastically promote a work culture and environment that helps my employees align their job responsibilities with their purpose and enjoy doing what they do.

    Being the Founder-Director makes me the torchbearer for my people and leads them to achieve organizational as well as their own growth. I have constantly strived to build an environment full of equal and attractive opportunities for all the employees. A company’s growth is best exemplified by the growth and success achieved by its people. If the people are unhappy and stagnant then the company is not doing well, and if the people are happy, full of purpose then the company will scale faster. Also, the opportunities for growth shouldn’t just be decided from the top down. As the leader, I believe it is crucial to ensure that the opportunity is packaged and presented in a manner that entices people to go for it.

    Also, there is no doubt that being able to command the ship and having a good grasp on the pulse of the business is the greatest joy for an entrepreneur. Whether it is internal management of the company or the successes one achieves in the market, it is highly satisfying to see that each gain benefits all the people. This is one of the major factors that drives me towards finding new and interesting avenues of growth for the people around me.

    The best part of leadership is to see that each and every person around you get better at the game, each day. Once you are able to inculcate that culture and zeal in the organization, everything else falls into place automatically!


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  • Ajay Banga: At The Fore Of Mastercard

    Technology, without any doubt, has undergone unfathomable advancement. The Banking segment forms the bloodline for economies. The role of credit and debit cards in this regard is paramount. While brands like Diners Club, Visa are popular, one cannot discard Mastercard. It is one of the biggest vendors of its segment. Ajaypal Singh Banga leads Mastercard from the front.

    Ajay Banga is an India-American business executive who is currently serving as the executive chairman of Mastercard. Previously, he was the President and Chief Executing Officer (CEO) of Mastercard until Michael Miebach took over from Jan 2021. Earlier, he was the President and Chief Operating Officer in the same organization.

    Ajaypal Singh Banga – Highlights
    Ajay Banga – Latest News
    Ajay Banga – Education
    Ajay Banga – Net Worth
    Ajay Banga – Professional Career
    Ajay Banga – Biography
    Ajay Banga – Mastercard
    Ajay Banga – Other Associations
    Management Style of Ajay Banga
    Ajay Banga – A Natural Leader
    FAQs

    Ajaypal Singh Banga – Highlights

    Name Ajaypal Singh Banga
    Born November 10, 1959
    Age 61
    Citizenship United States
    Education University of Delhi (BA), Indian Institute of Management, Ahmedabad (MBA)
    Occupation Executive Chairman, Mastercard
    Salary Total compensation at Mastercard is $23,250,000
    Net worth At least $208 Million dollars as of 14 July 2021

    Ajay Banga – Latest News

    22nd September 2021 – Mastercard announced that Ajay Banga, the executive chairman will retire on December 31, 2021, with current Lead Independent Director Merit Janow filling in as non-executive independent chair of the board, effective January 1, 2022.

    Ajay Banga – Education

    Ajay Banga, executive chairman of Mastercard, was born in Khadki, Pune, Maharashtra where his father was posted as an Army officer. His family hails from Jalandhar in the Indian state of Punjab. He did his schooling across India consecutively in Secunderabad, Jalandhar, Delhi and Hyderabad.

    Later, he went on to pursue graduation with a Bachelor of Arts (Honours) degree in Economics from the prestigious St. Stephen’s College, Delhi University followed by an MBA from the top B-School of the country, i.e. the Indian Institute of Management, Ahmedabad.

    In conversation with Ajay Banga, executive chairman of Mastercard.

    Ajay Banga – Net Worth

    The estimated net worth of Ajay Banga is at least $208 Million dollars as of 14 July 2021. Mr Banga owns over 60,000 units of Mastercard stock worth over $114,456,560 and over the last 12 years, he sold MA stock worth over $69,986,261. In addition, he made $23,250,000 as Chief Executive Officer at Mastercard.

    Ajay Banga – Professional Career

    Ajaypal Singh Banga served as the executive chairman of the Mastercard. Executive positions at Citigroup (1996-2009), including CEO, Asia Pacific region; Chairman and CEO, International Global Consumer Group; Executive Vice President, Global Consumer Group; President, Retail Banking, North America; and business head for CitiFinancial and the U.S. Consumer Assets Division Previous experience at Nestlé India and PepsiCo totalling 15 years, in roles of increasing responsibility.

    Ajay Banga – Biography

    Ajay started his career with Nestle India as a management trainee in 1981. In the next 13 years of his stay at Nestle, he leads a variety of assignments spanning sales, marketing, and general management. After his tenure at Nestle, he joined PepsiCo’s Restaurants Division and was instrumental in the launch of Pizza Hut and KFC in India.

    He joined Citigroup in 1996 as the head of marketing in India for its consumer business and served in multiple positions of increasing responsibility. The most iconic of them was the chairman and Chief Executing Officer of International Global Consumer Group, President of Retail Banking, North America and the business head for CitiFinancial and the U.S. Consumer Assets Division. He was the division executive for the bank in Central/Eastern Europe, Middle East, Africa, and India too.

    Ajay Banga has received several accolades, including the Indian civilian honour Padma Shri, which the Government of India conferred on him in 2016.


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    Ajay Banga – Mastercard

    Mastercard logo
    Mastercard logo

    During his tenure with Citibank, he moved to Hong Kong in 2008 to oversee the bank’s business in Asia—credit cards and consumer banking, wealth management, and alternative investments. In 2009, he returned to the United States to join Mastercard. After joining Mastercard, his task was clear—compete against a giant named ‘Visa’.

    While working with Mastercard, he worked with one of his best clients and identified a way to attract the youth. He redesigned the debit card product with its package of features, connecting to music, and the creation of a whole new marketing approach with the Commonwealth Bank of Australia. This proved to be the masterstroke.

    An area of development Mastercard chose to transform was e-commerce and transit fares. Mastercard also targeted the group which included young, trendy, and innovative people developing new ideas. The company also built for multiple banks and merchants new, innovative ways to pay for goods and services; one being the ability to scan bar codes from phones and converting the code into a purchase.


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    Ajay Banga – Other Associations

    Ajay Banga is a member of the Council on Foreign Relations and the Economic Club of New York. He is a member of the Foreign Policy Association and the Financial Services Roundtable. He chaired the Information and Technology Initiative.

    Banga is on the boards of trustees of Enterprise Communtiy Partners, Inc., the National Urban League, and the New York Hall of Science. Mr Banga was the director of the Council of Economic education too. He has a keen interest in social development issues and was named the 4th “Most Powerful Indian” in the world.

    He now serves as the executive chairman of Mastercard after stepping down from being the CEO in 2021.

    Management Style of Ajay Banga

    Since Ajay Banga has achieved almost everything a budding entrepreneur dreams of, his story has several takeaways. He describes himself as a passionate man who makes time to work on his endeavours.

    Although he leads a company that is synonymous with plastic, he always encourages his staff to use cash and keeps the workplace less intense.

    According to the man, the highest form of leadership is being well and performing well. The principle of being and doing good holds true for anyone and every organization. This is a powerful principle in business and the private sector. Banga says both the private and public sectors play a big role in bringing more people into the financial mainstream. This in turn consolidates the economy.

    Ajay Banga – A Natural Leader

    Ajaypal Singh Banga is endearing to many in the startup circuit. His ideas and strategies have been instrumental in the development of many Indian food chain industries. His tenure with multiple companies has enabled rapid growth for those organizations. In 50 years, he helped the economy sail through tough times. Ajay, the top gun at Mastercard is seen as a representative for India on the global platform, a visionary who motivates millions across the globe to emulate successful leadership.

    FAQs

    Who is Ajay Banga?

    Ajay Banga is an India-American business executive who was the President and CEO of Mastercard from July 2010 until December 31, 2020. He now serves as the executive chairman of the company.

    Who is the new CEO of Mastercard?

    Michael Miebach is the new CEO of Mastercard from January 1, 2021. He was previously the Chief Product Officer of the fintech.

    Is Mastercard an Indian company?

    No, Mastercard is an American multinational financial services corporation headquartered in New York, United States.

    What is Ajay Banga’s net worth?

    The estimated net worth of Ajay Banga is at least $208 Million dollars as of 14 July 2021. In addition, he made $23,250,000 as Chief Executive Officer at Mastercard.

    What is Ajay Banga’s education?

    Ajay Banga pursued his graduation with a Bachelor of Arts (Honours) degree in Economics from the prestigious St. Stephen’s College, Delhi University followed by an MBA from the Indian Institute of Management, Ahmedabad.