9 - Lessons for business from politics - Jay Panda on building a successful political career, resilience, and seizing opportunities

Jay talks about the criticality of financial independence if somebody is considering a career in politics. He also talks about some of the fundamental disconnects between the world of business and politics and how that can lead to challenges in people from the world of business settling into the world of politics.

Jay discusses what a “lambi race ka ghoda” looks like in Politics. He also talks about the role of circumstance playing a much bigger role in Politics than in other domains. He talks about how effective politicians stay relevant by appealing to different segments over time as the public sentiment shifts over time.

Jay talks about what the bad days in politics look like. He talks about how easy it is for people to assign motives when you have none. He also talks about the good days when some of your ideas take hold and people see you as an individual who championed that change.

Jay talks about what how successful politicians have managed to stay relevant over time and have reinvented themselves. He also talks about how technology is begin to level the playing field in favour of people who do not necessarily come from a family of politicians with an established brand and mobilisation infrastructure.

Jay talks about how he has grown as a politician in all these years. He also talks about Track II dialogues where he is active. These are informal back-channels which can be tremendously helpful in improving the communication and improving one’s understanding of the others’ point of view.

Jay talks about how he thinks about the macro discussions he has when he is in Delhi or with an international delegation (which is often about solving for the future) and balances it with the concerns of the here and now that people in his constituency are facing. He talks about he manages to combine the bird’s eye view and the worm’s eye view.

Jay talks about some of the advice he has received that has helped him in his political career. This includes being cautious about taking people at face value and in watching what you say in a public domain. He also speaks at length about the importance of listening to the voter needs and not getting swayed just by the voices of the party workers.

Jay talks about the criticality of creating the leverage as a leader to find a mechanism to process the volumes the data that comes to you to be thoughtful about your decisions. He goes on to talk about how he has to balance the need to go after legislative priorities with crises that might erupt in your constituency from time to time.

Jay discusses how the risk appetite is different in politics is different from that in the corporate world largely because, in politics, unlike in the business world, one has to secure loyalty first before going after performance and that can lead to a very different view on the kind of risks a politician might end up taking.

Jay discusses he thinks about picking ideas to champion and talks about how you could get a pulse of the acceptance of the idea. He goes on to talk about the criticality of setting up feedback loops for you to get a pulse of the real public sentiment.

Jay shares examples of three leaders (PV Narasimha Rao, Atal Bihari Vajpayee and Narendra Modi) who have driven significant change despite the challenges that came with the implementation. He talks about how great leaders use a window of opportunity or a crisis to quickly shift gears in dramatic fashion to drive seismic shifts.

Jay talks about importance of us cherishing the fact that we have a democracy before we get down to analysing what its shortcomings might be. He also talks about the criticality of doing things that you enjoy and things that matter.