Harsh Mariwala, the founder and chairman of Marico, recently shared three key pieces of advice for young entrepreneurs on surviving in a highly competitive business environment at the Mint’s India Investment Summit and Awards 2025. The three advice points focus on differentiation, talent and culture, and good governance.
Mariwala emphasized the importance of differentiation in a competitive market, stating that entrepreneurs must focus on being unique and different from others. He also highlighted the need for market research, but cautioned that there is no shortcut to launching a product in the market, and that consumer insights are crucial.
The second point Mariwala made was the significance of having good talent and a strong work culture. He advised entrepreneurs to attract and retain top talent by having a strong culture within the organization, which would motivate employees to perform better and enjoy working.
Lastly, Mariwala stressed the importance of good governance, regardless of company size. He warned that taking shortcuts in governance can lead to devastating consequences, such as destroying a business. He emphasized that having good governance is essential for long-term success and is crucial for entrepreneurs to focus on.
Mariwala’s advice is valuable for young entrepreneurs, and his experiences in the FMCG industry have given him a unique perspective on what it takes to succeed. His words of wisdom can be applied to various industries, and his emphasis on differentiation, talent and culture, and governance are essential for any entrepreneur looking to build a sustainable and successful business.