'Don't think you need to work so much': Kishore Biyani says number of hours will be same in lifetime

Future Group's Kishore Biyani believes that there has to be a work-life balance and that one has to elongate the span of working in a very meaningful manner. "You can't burn it out now," he said during a conversation with YouTuber Raj Shamani. Biyani is the founder of some of the most recognisable retail brands like Pantaloon and Big Bazaar.

The retailing pioneer believes that a person can do limited hours of work throughout his or her lifetime - whether s/he does it now or later depends on the person. His 'words of wisdom' come at a time when fierce debate is going on whether the country's work culture has to be changed from 8 hours a day to 12-14 hours a day. 

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The idea of a longer working week came recently from Infosys founder Narayana Murthy, who said India's work productivity was among the lowest and that the country's youngsters should work for 70 hours a week.   

In a podcast aired on November 1, Biyani touched upon the working hours even though he was not directly responding to the current debate. The 62-year-old businessman was asked about the new-age start-up entrepreneurs who are coming from IITs and IIMs in contrast to the country's traditional business owners who did not come from such prestigious business or engineering schools. Even Biyani, who founded billion dollar group, did not go to any IIT or IIM - he earned a Bachelor of Arts/Science from Bombay University.  

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When asked what is it that the average college does not teach, Biyani said this was not a problem of college but funding. "It is a problem of getting funding. Today, VCs (venture capitalists) and private equity players will not fund find anybody who is not educated." Why is that so? when asked. "Ask them (the private players)," Biyani said, adding that the VCs also are managing someone else's money so they have to show. But, he thinks, this is a problem. "I don't think that IITs are only people who are going to do well. Talent is everywhere. You don't need to be highly educated to be very successful. It is very good to have a background and pedigree but funding is not available who are not educated."

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Biyani said VCs will fund only those startups that have achieved something. "But in the beginning, no chance." He said these players work on reference points like they will ask if the model is anywhere else in other countries so that they can imagine. They will also see whether the person seeking funding is educated. "Their tickmark is very different and they are also doing their duty...their job," he said.

Biyani then said his daughters were going to start start-ups. He said one serial investor told him that don't try to go for institutional money, "nobody will fund you". "They need hungry and well-educated people...they don't need people who have in abundance. They will never fund someone who has something or had something once upon a time."

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The businessman then explained that his grandfather had a mindset that whoever came in late after work was good. "Even today, that is happening. These startups don't have to work the entire night and sleep for six hours. I don't think you need to work so much to be successful."

Biyani said his personal belief is that ultimately the number of hours one will put in work over a period of a lifetime is going to be the same. "Aap abhi khatam karo, yaa baad me khatam karo (you finish it now or later)." 

What he suggested was that if a person had to work 1,000 hours, that person can do only that much - s/he can do early in the life of later. "Does that mean if I finish those hours now, I won't work later," Shamani asked. To this, Biyani said: "Hoga bhi nhi aap se (you won't be able to do it)".

The retail pioneer said: "It will take a toll somewhere or other. I somehow believe there should be a balance. That's it. Our belief system is that by this age, to this...and by this age, do this...that has changed. Earlier, after 60 years, it was like you moved to another life. But today, everyone works - one has to elongate the span of working, and in a very meaningful manner. You can't burn it out now."