Family IN Business
Family IN Business
5. Creating Strategic Entrepreneurial Goals Within A Family Business: Kalpana Waikar of Inspired Indian Cooking
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Season 3, Episode 5 of the Family IN Business Podcast

Who starts a new family business with a mortgage and kids in college? Entrepreneur Kalpana Waikar of Inspired Indian Cooking, with the support of her husband Sachin Waikar. Listen to the Waikar’s story of familial support systems, pursuing passions, and making strategic goals that fit their expectations of life outside of work.

How does Waikar create, scale and finance a business that meets her entrepreneurial and her personal goals? In this episode, the Waikar’s story highlights how family is at the heart of the Family IN Entrepreneurship model and brings to light a new kind of narrative for startups.

Show Notes: 

Theme:  A new narrative for entrepreneurialism in family business and choosing life-balance over prestige

 

Your host: 

Esther Choy, CEO and Chief Story Facilitator of Leadership Story Lab, author of Let the Story Do the Work (HarperCollins Leadership)

 

Special thanks to:

Kalpana Waikar, Founder & Owner, Inspired Indian Cooking,  KSM ‘06

Sachin Waikar, President of Waikar Writes Inc

Jennifer Pendergast, Executive Director of John L. Ward Center for Family Enterprises, Kellogg School of Management at Northwestern University

Matt Allen, Associate Professor of Entrepreneurship, Babson College and Visiting Associate Professor, John L. Ward Center for Family Enterprises

Contact us: familyenterprises@kellogg.northwestern.edu

WardCenter.net

 

Key Moments

1:43: Entrepreneurship as writing your own narrative

2:09: Who is Kalpana Waikar and the birth of Inspired Indian Cooking: spice kits for Indian cooking

6:11: Why did Waikar start a retail store when the online subscription box model was successful

7:57: The powerful interaction with retail customers: the joy and positive feedback

9:35: Establishing an online customer base without traditional marketing

10:39: Managing the risk-return trade-off by bootstrapping a startup with Jennifer Pendergast

12:13: How did Waikar finance the business?

13:20: Scaling the spice kit business while maintaining her lifestyle outside of work

14:35: A behind-the-scenes portrait of a family of entrepreneurs, with Sachin Waikar

17:29: The Waikars decide to pursue their passions and support each other’s careers goals

19:20: The Family IN Entrepreneurship Model, with family at the center

20:34: A more organic approach to entrepreneurship

21:46: The choice of everyday happiness, with Jennifer Pendergast

22:55: Career goals: Choosing life and freedom over prestige and “being allergic to stress”

25:39: Understanding the role of family in startups and entrepreneurship, with Matt Allen

27:30: Unquantifiable variables and the untold stories of family entrepreneurship, with Matt Allen

29:40: Confirmation bias favors a certain kind of entrepreneurial stories, with Matt Allen

Download “Creating Strategic Entrepreneurial Goals Within A Family Business: Kalpana Waikar of Inspired Indian Cooking”

Transcript-Kalpana-Waikar-Final.pdf – Downloaded 551 times – 145.93 KB

Better Every Story

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People forget facts, but they never forget a good story. In her book, Esther Choy shares business storytelling methods, examples and practical tools and templates. It’s your essential leadership storytelling toolkit.

Let the story do the work

People forget facts, but they never forget a good story. In her book, Esther Choy shares business storytelling methods, examples and practical tools and templates. It’s your essential leadership storytelling toolkit.

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