In the fast-paced world of business, it's easy to get caught up in the perception of CEOs as money-making machines. However, there is more to their lives than meets the eye. Meet. Tarun Poddar, the Managing Partner of Foxhog Ventures Corp. India Operations, sheds light on the delicate balance between his personal and professional spheres.
Tarun believes that when you enter the business world, it becomes your moral responsibility to not only provide for your family but also contribute to the well-being of others. It is a big responsibility that he takes seriously. But beyond his working life, Tarun also has a personal life that he must consider. While his family may not fully understand his work, they value the support and provision he offers. They see beyond the strict persona he presents to the world and recognize his human side, complete with emotions and desires.
Being a leadership figure, Tarun understands the heightened expectations and intense scrutiny that come with the position. CEOs are often held to higher standards, and any mistakes they make are quickly magnified. The ratio of criticism to praise can lean heavily toward the negative side, which can be disheartening and challenging to navigate.
Tarun categorizes the people he encounters into three types: new acquaintances, existing individuals, and returning figures. Each group presents its own challenges when it comes to communication and connection. With new people, it's important to be cautious and not reveal too much too soon. Existing relationships can be complex, sometimes hindering open communication. As for those who return to your life, they often come with preconceived notions that make genuine sharing difficult. This raises the question: Where can one find solace and understanding?
The concept of work-life balance has been an intriguing and, at times, hilarious journey for Tarun. He embarked on writing a book called "Accidental Marriage," not to clarify or justify anything, but rather to clear his head and document his experiences. The book focuses on his personal life, particularly his failed love cum arranged marriage. Through this book, Tarun explores how misunderstandings can strain relationships, highlighting the significance of time, compatibility, and interference from third parties.
Tarun found himself immersed in the demanding world of startups, where the glamorous façade belies the loneliness and pressure. He grappled with financial worries, constantly juggling bills and payments, and felt isolated without someone to share his feelings with. Tarun's attention was constantly drifting toward his failed marriage and false rumors spread about him, adding to his emotional turmoil.
The responsibilities of a CEO encompass numerous stakeholders, including employees, investors, shareholders, creditors, clients, and the media. There are times when government agencies also come into play. A CEO's actions can have far-reaching consequences, and having a book narrating personal experiences only adds to the challenges. During a difficult time when Tarun was recovering from a serious physical injury and battling depression, he faced threatening calls and malicious rumors. His PR team had to manage a crisis while he contemplated recuperating the losses he had endured. It was during this period that he decided to write a book, currently in the process of selling the rights to Amazon.
Tarun clarifies that his book, "Accidental Marriage," does not focus on his professional journey, but rather on his love life. It delves into the reasons behind the failure of his relationship. The lack of time due to his demanding profession, compatibility issues stemming from the employer-employee dynamic, and interference from third parties within the family were key factors that contributed to the breakdown. In his book, Tarun describes how these factors ultimately strained their relationship.
To cope with the aftermath of his failed marriage, Tarun sought help from a full-time therapist. While he continued to motivate and inspire others through his professional engagements, he privately grappled with the emotional upheaval caused by his personal life. He sought closure, desiring valid answers for the sudden breakdown of communication. Unfortunately, there was a lack of consistent communication between them, and he was left shocked when allegations of dowry and domestic abuse were made against him. As a CEO, maintaining a certain aura in the workplace is essential, but it creates a disconnect when it comes to personal relationships. The contrasting mentalities required for these roles further complicated the situation. Tarun highlights the timelessness of a CEO's role, where there is no clear distinction between personal and professional matters.
When Tarun interacts with other investors or founders, conversations primarily revolve around money and business. Even with close friends, discussions often center on their well-being before moving on. In his position, he has faced situations where friends reached out for recommendation letters, leaving little room for personal conversations. This is not due to selfishness, but rather because everyone is occupied with their own lives and responsibilities.
Tarun's journey has been unique, as he dared to leave a stable job and start his own business. With a primary education from Delhi University and an MBA from Stanford University, he followed a different path than most. Typically, individuals would accumulate work experience at established companies like Boeing, Apple, or Microsoft before settling into married life. The dynamics of communicating with friends also change, as one becomes more selective about what to share.
Professionally, Tarun finds himself in a state of extreme happiness. The IPO, which he never planned or dreamed of, is a significant milestone. As he progressed on his journey, completing one milestone after another, his vision for the future expanded. The ultimate goal for any startup or business is to go public.
Setting Foxhog Ventures apart from other venture capital firms, Tarun introduced the unique concept of "VCs for Villages." While competitors like Nexus have achieved great success by investing in companies like Ola, Uber, and Zomato, Tarun recognized the untapped potential in businesses operating in tier 2 cities. These businesses often have ideas but lack the means to grow. In India, the prevailing mindset dictates that to approach venture capitalists, one must have a degree from a prestigious institution like IIM or IIT. However, startups today are achieving remarkable valuations, and Rs. 100 crores is no longer considered a big deal. Tarun identified entrepreneurs in districts of Bihar, UP, Jharkhand, and Rajasthan, where graduate students run grocery shops, as a market ripe for empowerment. Foxhog Ventures provides revenue-based funding instead of traditional equity-based funding, allowing small businesses without private limited companies or proprietary firms to access funding based on their profitability.
The logistical challenges of reaching rural areas without physical branches posed a significant hurdle. While other venture capital firms have offices in major cities like Hyderabad, Bangalore, and Mumbai, Tarun's approach required a different strategy. He established customer service points, known as CSPs, which now number more than 1500. Inspired by the State Bank of India, Tarun set up CSPs within existing businesses. These CSPs serve as collection points where individuals can pitch their business ideas. If their ideas resonate with the experts at Foxhog Ventures, funding is provided, and the entrepreneurs can work towards generating profits. The key to success lies in reaching these aspiring entrepreneurs and providing them with accessible services. By expanding its reach through CSPs, Tarun aims to bridge the gap between rural areas and venture capital opportunities.
Tarun emphasizes the crucial distinction between lending and investment. Lending involves providing money with fixed interest rates, often leading to debt-related issues. In India, many farmer suicides are driven by the burden of debt. In response, Foxhog Ventures takes a different approach. They meticulously verify information, physically inspect farms, and provide funds based on estimated profits. The focus is on empowering farmers, ensuring that the profit-sharing model safeguards them from insurmountable losses. This approach highlights the commitment of Foxhog Ventures to support villagers and uplift traditional businesses.
Looking toward the future, Tarun's primary focus is on his career. He acknowledges the dependency of numerous individuals on his professional success and is determined not to let anyone disrupt the progress he has made over the past 27 years. The experiences and lessons learned from his personal life have shaped his perspective. Tarun understands that perfection is an elusive concept, and he embraces the imperfections that come with life. He is steadfast in pursuing his career goals and maintaining the spirit that has guided him thus far.
As Tarun reflects on his journey, he highlights the importance of understanding that happiness is not solely derived from personal relationships. Despite the challenges he has faced, he finds fulfillment in the progress he has made professionally. The IPO was a pivotal moment, and even without someone to share it with, Tarun remains proud of his achievements. His determination to empower individuals in rural areas through initiatives like "VCs for Villages" showcases his passion for making a meaningful impact.
Tarun Poddar's story exemplifies the complexities of a CEO's life, where personal and professional domains intersect, often causing conflicts and sacrifices. Despite the hurdles he has faced, he continues to forge ahead, contributing to the growth of businesses in unexpected places and inspiring others through his experiences. Tarun's journey serves as a reminder that personal relationships do not solely measure success, but also the impact one can make in the lives of others.
Tarun Poddar,
Managing Partner of Foxhog Ventures Corp
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