Globalisation of a Tech Family Business

September 15, 2020 Published by Leave your thoughts

In 1998, 2 years after I started Globsyn Technologies,my first Company in the Globsyn Group,I set up the USA Subsidiary called Globsyn Technologies Inc,wholly owned.It was a very small start.But I was always keen that I had to do it the proper way.My sons had just joined UnderGrad that year,in Syracuse University, so I rented an Office in Plainsboro,New Jersy,and started to look at the USA market alone.Did a few mistakes in the first 2 years,and struggled to collect money in a new system, mainly because some of my Indian customers,seeking professional services in USA and employees did not adhere to fiscal terms.But that could have been planned better.It was my naivety as an entrepreneur,which led me to pile up,unwarranted expenses,which was uncalled for. In 2002,my sons finished their UG.Romit as an Computer Science Engineer and Rahul as a Management Graduate. Rahul immediately got a job thru Campus placements in Deloitte,but it was a very bad downturn year for Infotech.Only startups were offering Internships and was not making sense to me,neither to Romit,who started doubting his capabilities,as he was all of 23 years old. One day,I called him aside and told him,though its your choice,if startups are your only Option,then why dont you join Globsyn in USA,and help me set it up,thats also a start up,but we will pay you regular wages,as prescribed by Law.For Romit it was truly baptism by fire.One side there was Dad,and the other side there was no business,plus huge debts which the customers were paying very slowly and in instalments.He really had to innovate.As I came back to India soon,to set up my Business School,which had to get AICTE accredition,and the finishing of the Complex,was far from over.I remember those days,how Romit used to send me daily reports of work done,money collected,and customer responses. Then one day,he got a call from IRS in USA,and was nervous as it was a new experience for him,as IRS had called him for the outstandings. I told him.”You have nothing to lose.These Outstandings are not because of you,so just go and speak the truth,it always helps”. He went and offered his own salary to IRS, said that “Sir,this is all what I have to offer,but if you give me 60 days,I will ensure everything is cleared”.The gentleman at IRS smiled,gave him some coffee,told him,he can call him,anytime he wishes to,and wished him all the best,in his endevour to help his Dad,to setup our USA business.Sure enough,one by one,we cleared all outstandings.We also got orders from large customers,like,”ToysR us” plus a few more,all offshore work,and we were well on our way.On the other hand,Rahul was doing very well,in getting awards every year,as being “Top5% PERFORMER”,and most importantly all his colleagues loved him.Later,after a few years,both of them did their Masters in Management from Imperial College,London and Durham University.

That was our start of Global Business with my sons,and it has still been a major strength for the Group. Today,we have set up Businesses in some more Countries.Today both Rahul and Romit are running International Businesses on their own and their initial years and the grooming must have helped.

There are different models of transition which is followed in Family Business,but the tricky part is,you normally do not see too much same business model in Technology,as things change fast,and one generation to the other it takes completely different thoughts,models,changes,areas,etc. But I am lucky so far.We took our time.Since I was also into Technology,I could understand the fast changes happenning with time,and absorb it. I had spent long hours on this,specially during my stint at Harvard Business School,talked to many,and spend long hours on this with them for about 4 years,and then created the model,which is transient,as Technology is,and so will be Management,but Trust,Faith,Care,Understanding,and allowing all to share all,are some immediate takeaways.

Lets hope for the best,but one thing I can say,their feet is firmly on the ground,still.

Leave a Reply

Your email address will not be published.