Learning Is Life – In Conversation with Nataraja Nanjundaiah

Life – An Eternal Journey of Learning

In a world that is constantly changing, how does one keep pace and stay relevant? In the new world order, learning is like air, food and water – It is essential, not just during our formative years, but throughout our lives. Nataraja Nanjundaiah shares his journey of learning and argues that Learning is Life. He shares the rigors of obtaining professional certifications, and advises on how to switch career tracks from employment to entrepreneurship. He also shares his experiences of process transformation using Lean methodology in the service industry. Read more about Nataraja’s inspiring journey in this conversation with Rajiv Maheshwari. The video of the conversation from our YouTube channel is embedded towards the end of this post.

Have an inspired life and continue learning…and if you are planning to switch career tracks, do read until the end!

The Motivation

Nataraja decided to pursue two professional certifications, after having worked for over 20 years in various corporate roles with leading multi-national companies. What was the motivation and the decision making process for investing so significantly in learning?

I had developed an interest in finance, analysis, entrepreneurship and business and was interested to setup my own venture or my professional practice. I identified two areas where a new regulatory regime was being introduced – Valuation and Insolvency.

The introduction of the insolvency laws and regulations in 2016 have provided a boost to insolvency professionals and opens doors for professionals such as CAs (Chartered Accountants) and Cost Accountants. There is a lot of opportunity around valuation, particularly with the meteoric rise of start-ups. However, these certifications require rigorous preparation that takes a toll.

Professional Certifications to switch career tracks

These professional certifications require a lot of rigour, particularly for professionals who have not taken exams for quite some time, even though they are investing in continuous learning. What were your challenges and experiences during this journey?

Learning has not been a challenge, because I love reading, studying and keeping myself updated. However, the rigour of studying required for these exams was much higher. Learning and taking rigorous exams at the age of 47 is very different from learning at the age of 22. The mind needs to be sharp, since these professional certifications are equivalent to clearing one group of professional qualifications such as CA.

However, I must add with all humility, that I am inspired by so many people in the profession, who have added 7-8 qualifications and still continue to contribute their thought leadership in the form of books and publications.

What sort of mindset is required to continue on this journey of learning, particularly for experienced professionals?

We should not stop learning, even if we are not professionals. We cannot move forward in life if we stop learning. I believe that in order to live, you have to read and learn. It is as important as having my food everyday. In a nutshell, Learning is Life!

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Entrepreneurship

You recently took the decision to pursue professional practice and quit employment, after having worked for over 20 years in large and reputed organizations such as Amazon, ADP, Infosys, Deutsche bank, etc. What was your thought process behind switching from corporate jobs to entrepreneurship?

My way of thinking is that either now or after 60 years of age, you will have to transition out from being employed to entrepreneurship or being on your own. If you try to make the switch around 60, which is the retirement age, you may not have the energy to pursue and do justice to the opportunities.

So, it is not a question of “if”; rather, it is a question of “when” you make the career switch from employment to entrepreneurship.

From Employment to Entrepreneurship: Key Challenges

What are the challenges associated with the transition from employment to entrepreneurship?

The obvious thing that needs to be figured out upfront, even before you dive into entrepreneurship is the financial stability. However, the biggest challenge is around lifestyle.

In corporate jobs, time management is not a very big challenge, because your goals and targets ensure that things get done. If you don’t do the needful, you may miss targets, that may result in lower hikes, missed promotions, etc.

When you are on your own, there is nobody to set these directions or goals for you. Moreover, you have to take care of all aspects of running the organization on your own, even though you may not have the requisite skills. For instance, I did not have exposure to marketing. I can do the work and execute any task easily, because that is my core area of expertise, but marketing is outside my traditional comfort zone.

One needs to be ready for these challenges and have the patience and perseverance to plan and execute for the future of their career and lives.

Related Reads on Entrepreneurship

Process Transformation using Lean

Switching track to your strength area, can you run us through your experience with process transformation using Lean methodology?

I have had a lot of opportunity to undertake process transformation using Lean methodology in service industry. During the operations and transition journey, we needed productivity gains and we used the Lean methodology, rather than Six Sigma, since we needed simplistic approaches to eliminate waste.

Identification of opportunities to eliminate waste comes naturally to people who are engaged in process transformation. Secondly, these projects cannot be executed by reviewing processes at a high level. One needs to dive deeper into the granular details, in order to yield results. Thirdly, the workshops for value stream mapping must involve all concerned stakeholders, including representation from various functions and team members across levels.

These discussions will result in a future state map, that can be achieved through an action plan which may involve elimination of waste, implementation of tools, robotic process automation, etc. However, the key is execution and 80% of the success of the projects depends on operational execution. The focus needs to move beyond workshops, meetings, photoshoots to implementation of action plans.

Impact of Digital

What has been your experience with the increasing impact of ‘Digital’. How has the core approach changed in the digital era?

We have implemented several tools in various organizations and projects over the years. However, the first step involved in any such project is the understanding and mapping of the business processes at a granular level.

This core approach does not change, even in the digital era. Development of tools requires clarity on the processes to be implemented. Technology can be an enabler, but understanding and designing processes is as crucial as ever.

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How to switch career tracks?

Your prior experience in running and transforming processes appears to be very different from the newer areas of Valuation and Insolvency that you are now associated with. What is your advice to people who want to switch career tracks?

If you are looking to switch career tracks even across functions in the corporate sector, it will be a challenge. The degree of difficulty depends on the extent of turn or shift that you want to take. There are certain roles which have a higher degree of relatedness, such as moving from operations to account management; or from accounts payable to accounts receivable. However, the career switch becomes much more difficult if the new area is not related to your past experience.

One needs to be willing to sacrifice and invest, and also be prepared to sacrifice career growth in the short run to reap these long term benefits. This may even require you to step down the hierarchy and invest 3-5 years of your career to come back to the same level in your current area of expertise. The transition can be smoother if you can utilize the opportunities within your existing organization, as many leading organizations provide options for lateral movement.

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Unleash With FTEM – Watch The Full Video

The above are excerpts from the conversation between Nataraja Nanjundaiah and Rajiv Maheshwari in this episode of ‘Unleash With FTEM’

Check out the playlist of Season1 of UnleashWithFTEM.

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About Nataraja Nanjundaiah

Nataraja Nanjundaiah is a practicing Cost Accountant and Partner, BBS and Associates, Cost Accountatnts. He is a Registered Valuer, registered Insolvency Professional and a member of IACVS (International Association of Certified Valuation Specialists).

He is also a management advisor in the area of Finance, Valuation, Insolvency, Accounting, Payroll, Process transformation and Program management.

He has worked in various roles with leading organizations such as ADP, Infosys, Amazon and Deutsche Bank and has now transitioned from employment to entrepreneurship.

Want to Get Featured? – Contact Us

This post is based on Nataraja’s conversation with Rajiv Maheshwari. In case you are interested in taking advantage of our learning ecosystem by sharing your journey in the above format or through courses, you may contact us.