FINAL PROJECT FOR ENTERPRENURIAL COURSE PRESENTED TO: INDIAN SCHOOL OF BUSINESS,

HYDERABAD PRESENTED BY: BATCH 2010 -2011 of Entrepreneurial Course

Mahesh Sridharan
Vaibhav Badjatya
Mrinalini Sinha
Subhasis Chattoraj
Parul Srivastava
About ISB
Indian School of Business (ISB), in Hyderabad, is one of top-ranked business schools of India. The
institution was founded by eminent business leaders, entrepreneurs and academicians
from around the world. Indian School of Business, Hyderabad, has academic association with three
of the world's leading business schools - Kellogg School of Management, The Wharton School and
London Business School. ISB admits students from diverse backgrounds, from all over the world.
To achieve the impossible, one must think the absurd To look where everyone else has looked,
But to see what no else has seen. Anonymous
The Journey of SWADEEP SRIVASTAVA & the birth of VIA MEDIA COMMUNICATIONS PVT LTD
Contents
1. The Story ................................................................................................... 3
Every man has a story to tell ...................................................................... 3
Nine-tenths of education is encouragement................................................ 4
Life is either a daring adventure or nothing................................................ 4
There is one thing stronger than all the armies in the world,
And that is an idea whose time has come.
Healthcare Industry in India....................................................................... 5
A journey of a thousand miles must begin with a single step..................... 5
The great thing in the world is not so much where we stand,
as in what direction we are
moving ...........................................................................................................6
Inimitability................................................................................................. 7
Seize the opportunity by the beard, for it is bald behind............................ 8
The art is not in making money, but in keeping it...................................... 9
Coming together is a beginning;
Keeping together is progress;
Working together is success........................................................................ 10
Every race has hurdles................................................................................. 10
2. Reflections
An Evaluation of the Swadeep Srivastavas strategies at Via Media.......... 11
The Opportunity.......................................................................................... 11
The Five Forces........................................................................................... 12
The Big Picture........................................................................................... 13
Raising Capital............................................................................................ 13
The People................................................................................................... 14
3. Learnings..................................................................................................... 15
Page 3
Swadeep Srivastava looks like any ordinary man you may have crossed on your way to work, in
your neighbourhood store, or in the elevator. But the zeal in his voice gives him away. As he talks
to you from behind his large desk, in a plush office space, you realize that his is no ordinary story.
From being a teenager with no plans, to being the founder of VIA Media Communications Pvt. Ltd.,
Swadeep has come a long way. Via Media, his brainchild Healthcare Public
Relations firm was born in 2000. Now, in 2010, it is expecting earnings to the tune of Rupees 8
crore. It has eight centres in India, one each in Germany, Switzerland and London, and is looking
to expand internationally to other emerging markets. Ask him if he expected Via Media
Communications to reach this height when he started it,
and he laughs a humble, yet fervent laughter. Every man has a story to tell Swadeep was born in

Gorakhpur, Uttar Pradesh, in a simple, salaried, middle-class family. His father, Professor RC
Srivastava, was a Lecturer of Law at the University of Gorakhpur and mother, Smt. Sandhya
Srivastava, was initially a Primary school teacher and later, a
homemaker. He is the eldest of 4 brothers. As a child, Swadeeps charming, amiable personality
made him very well loved. Growing up in a joint family, he developed very strong interpersonal
skills. Swadeep was the one every
family member could bank on, for getting things done. It was this, he recalls, that inculcated in
him, a strong sense of responsibility, networking and management skills. However, he was a very
average student in school. He secured a First Division in High School, but came down to Second
Division in Intermediate. His close circle of friends was fast disappearing, moving to pursue
professional courses. Some decided to pursue a career in Medicine, some in Engineering and
some joined the National Defence Academy. This jolted Swadeep, as he realized he needed to pull
up his socks, or get left behind in the race. For lack of direction, and want of a better option, he
went on to pursue a Bachelors degree in Science from University of Gorakhpur. Gorakhpur offered
limited opportunities and he was almost forced to go to Delhi to undergo a crash course in Sales
and Marketing from NIS, New Delhi. Swadeep worked hard, and came second in the course. He
recalls fondly, Maybe for the first time I discovered something that was right for me,
came naturally to me. Understanding the sensibilities of different people, fostering relationships
and collaborating with them gave me a kick. At the end of this course, he got an interview at the
then upcoming Indraprastha Apollo
Hospitals in Saritha Vihar, New Delhi. Thats when he got his first break, his first job as a Trainee
in the Marketing Department.
Page 4
Nine-tenths of education is encouragement. Anatole France
Apollo Hospitals back in 1995 were the largest chain of Corporate Hospitals in India, and the
fourth-largest in Asia. Here, Swadeep found a great mentor in Mr Raza Siddiqui, who was then, the
General Manager, Marketing, Apollo Hospitals. Mr Siddiqui could easily spot that Swadeep had
excellent interpersonal skills and was great at building relationships. He
encouraged Swadeep to help him set up the first Public Relations (PR) Department of the hospital.
Swadeeps professional journey started with this department. He got promoted and became the
first Public Relations Officer at Apollo. This stint taught Swadeep a lot. It helped him understand
the nuances of the Healthcare Industry and get a basic grasp of Medical Science and its
terminologies. It also provided a forum for interacting and building professional relations with
Health Writers, Bureaucrats from the Ministry of Health, Doctors and Key Opinion Leaders from the
medical fraternity and the Indian Medical Association and other similar organisations. It was here,
while analysing the growth opportunities of the industry, that Swadeep chanced upon an idea. An
idea that made him restless, that brought him an unfamiliar source of energy the idea that was
to be his talisman in the years to come.
Swadeep realized the tremendous opportunity that lay for specialized Public Relations services in
the Healthcare industry. While there were several agencies handling PR across sectors none had
the expertise in healthcare, or knew what worked in this industry. He was thrilled at the thought of
starting his own Healthcare PR and communications firm,
but was nervous. He had no experience in running a business and had virtually no help.
Mr.Siddiqui saw a great potential in his idea, and encouraged him to follow his heart. He advised
him that if he ever wanted to start his own venture, this was the perfect time the industry was
ready, he was young, was not married, and did not have much to lose. Swadeep gave the idea a
lot of thought. The more he thought about it, the more he wanted to pursue it. He had always
desired to work independently, and was driven with the desire to make his mark and establish his
credibility. Moreover, his present job was not enough to support his family. He saw this as a great
opportunity to improve his financial condition. He knew that he may not stumble across a better
idea in his lifetime. He decided to follow his dream.
Life is either a daring adventure or nothing. Helen Keller
His family was shocked. The family did not have any entrepreneurial history. The most common
fears associated with starting ones own venture plagued them. They spent many sleepless
nights, wondering how he would manage the finances, run the business, or support

Page 5
the family in case his start-up failed. To add to the dilemma, he had a job-offer from a Telecom
company, offering him three times his Apollo salary. But Swadeep was hooked on to his idea. He
was confident of his capabilities and tremendous potential of the unexplored idea. He had a
herculean task of convincing his family, who eventually gave their uneasy nod.
There is one thing stronger than all the armies in the world, and that is an idea whose
time has come. Victor Hugo
The Healthcare Industry in India Swadeep did a thorough research and realised that early 2000
saw several chains of corporate hospitals coming into India. Max Healthcare, Wockhardt (the
international arm of the Harvard Medical School), Asian heart Institute and the likes were making
a foray into the Indian Healthcare and Medical Tourism Industries.
FDI was increasing aggressively in the Pharmaceutical industry, in Clinical Research Organisations
and in the Life Sciences sector. Multi-national firms in the Pharmaceutical & Consumer Healthcare
segments had identified India and China as key markets and were getting ready to invest heavily
and expand in this high growth market. Health Insurance as an industry was finally finding its feet
with the corporate hospitals and the patient base for insurance growing rapidly. The Indian
consumer was increasingly becoming health conscious. Hence Preventive Health had also started
gaining wider
acceptance from the Corporate Sector and Public Sector Units. The consumer base for
Nutraceuticals and other health foods and beverages was growing rapidly. The more Swadeep
researched, the more his idea was vindicated. Although there were
several Advertisement Agencies, specialized Healthcare Public Relations (PR) and Below the Line
(BTL) Communication solution providers hitherto did not exist. He could visualize the importance
and the need for a 360 degree communication solution. The concept of specialized Healthcare
Communication was unique. He gained enough confidence to go out and capture the market,
which he realized would not have any major competition. It was as
though the industry was welcoming us with arms wide open, he recalls.
A journey of a thousand miles must begin with a single step. Lao Tzu
In 1999, Swadeep left his job at Apollo to start his venture without a single penny in his pocket.
His family was not in a position to support him financially. A friend, who worked at the advertising
agency that Apollo partnered with, offered to help him with a tiny place in his office a table and
a chair, with a telephone extension to launch his business. With this
modest beginning, Swadeep was able to win two Press Conferences, which brought in one-man
business first earnings Rs.50,000.
Page 6
Thus began a journey of Belief, Passion and Ambition. Swadeep started with leveraging the
relationships he had built during his tenure at Apollo. He identified potential clients and started
approaching them for Public Relation assignments press conferences, communications, media
releases. He was new and lacked repute and hence decided to focus on small clients, such as
independent doctors, start-up hospitals who could
not afford the big PR agencies in the market. He was also able to get assignments from the Indian
Medical Association and the Medical Council of India, who did not pay much, but added a lot of
value to his profile as credible clientele. Most of his clients initially were gained though coldcalling. Once his reputation improved, there was a natural pull for his services. With the help of his
friends in the Corporate Communications field, Swadeep gained valuable insights about the
nuances of the corporate world and the communications and media industry, as also the right
people to approach for various requirements. Swadeep worked as an Independent consultant from
1999 to 2001 generating revenues of Rupees 12-18 lakh per annum. He utilized these three years
mainly in developing in-depth knowledge regarding HealthCare as an industry and its workings.
Furthermore, he was able to create a national network of Health Writers, establish contact with
Key Opinion Leaders, leading doctors and hospitals. He re-invested every penny saved back into
his venture, in order to set up his office, hire support staff and travel to broaden his network base.
But time and again, capital crunch
limited the scope of his ideas. Talking about those difficult days, Swadeep shared, But these
(small engagements) were not enough as they could have only given us limited revenue to run a
small set-up and meet our daily expenses. The real revenue for a PR company would come from

the corporate sector Pharmaceutical, Consumer Healthcare & Life sciences companies. We kept
pitching but most of the big companies would not let us enter as they already had multi-national
agencies as partners and felt that we were too new and inexperienced.
The great thing in the world is not so much where we stand, as in what direction we are
moving. - Oliver Wendell Holmes
He knew the time had come to scale the game. In 2002, he registered his company with his wife,
Divya and himself as the two Directors of Via Media Pvt. Ltd., a one-stop-shop for all Healthcare
Communication needs. The existing Multinational PR Agencies served a diverse portfolio of clients
and brands ranging across the gamut from manufacturing to service sectors. But this also led to
diffusion of efforts and focus, especially on an upcoming sector like Healthcare. Developing
and maintaining strong relationships in this intricate and unstructured industry was tricky.
Page 7
Inimitability
It was here that Swadeep charted his Competitive Strategy. He decided to position himself as the
Pioneer in Healthcare Communications. I worked hard to gather all possible communication
offerings under one umbrella developing an extensive framework, which began with a reputation
audit and identification of stakeholders and their expectations, setting of communication
objectives and messaging, backing the plan with intensive learning for effective message delivery,
and finally implementing it with focused outreach programmes. He came up with a robust and
comprehensive business model with the following offerings:
Strategic Planning1: Identify brand influencers and create a well formulated, structured
methodology for reaching multiple visibility channels through effective public relations tools.
Key Opinion Leaders (KOL) Management: Provide Insights by researchers, healthcare
communicators, medical consultants to help drive the communications strategy in a positive
direction.
Media Relations & Digital PR2: Use various media vehicles to reach the target audience.
This would include
Print Media Hand Books/ Review Articles/ News Letters/Leave behind leaflets.
Electronic Media Corporate Film/Product promotional Film / Conference Coverage
Digital Media E-Journals/E-magazine/ E-newsletter / web content
Medico Marketing Contract Sales Organization: Provide a sales team with extensive experience
in the designated therapeutic category to the pharmaceutical, consumer healthcare, medical
device and diagnostic industries. The team will be profiled to ensure complete alignment with
client corporate culture, and will work exclusively to meet clients sales and marketing goals.
Crisis management/ Issue Management: Develop Crisis preparedness plan with clearly defined
communication and response strategies.
1 Refer Exhibit No. 2
2 Refer Exhibit No. 3, 4 and 5
Swadeep points out,
Our sales pitch to the Corporate and clients was always based on following factors:
Offer a specialized approach to the problem/ offer a customized solution.
Willingness to share our Track record by being open to Reference Checks within the
industry. This helped us develop the clients trust in us.
Offer a Pay only if we Deliver model. We were the only agency which offered to first deliver
and only then collect the money. This made the corporate sector much more open to
experimenting with us, as they had nothing to lose.
Page 8
Under Promise and Over Deliver. This simple age old rule helped us retain our clients and develop
credibility.
With the Business Model in place, and strategies abreast, we marched aggressively into the
market with unrelenting cold calls and visits.
Seize the opportunity by the beard, for it is bald behind. Bulgarian Proverb
It was one of these cold calls which took Swadeep to the office of Ms. Kashmira Chaddha,
Marketing manager, GlaxoSmithKline in the early 2003. The market for Nimesulide, a Dr Reddys
product had grown over the years to touch Rs.250 crore in India, cannibalizing the market share of

Crocin, a GSK product. What was shocking was that Nimesulide was reported to be unsafe for
children below 12 yrs of age. It was banned in Spain and Finland in 2001 on reports of its
hepatotoxicity. The drug had not been allowed to be marketed in the US, Canada, UK and Australia
for the same reasons.
As Swadeep recalls, GSK had done an extensive research and were desperately looking for an
agency to formulate a comprehensive strategy to communicate the ill-effects of such strong
NSAIDS1 and in turn establish the safety and superiority of paracetamol over Nimesulide.
1- NSAIDS: Non-Steroidal Anti Inflammatory Drugs
After numerous presentations made by Swadeep and multiple reference checks, Kashmira
Chaddha and the board of GSK decided to place their bets on Via Media. And thus started what
later proved to be one of the strongest Advocacy and PR Campaigns in the Health Care industry.
Swadeep travelled across the country, convincing, validating and drawing consensus among
various hospitals, leading doctors and Key opinion Leaders. He then steered an aggressive
campaign in the print, electronic and digital media to convey the aggregated facts to the public.
His contacts within the health ministry strengthened his position. With GSKs support behind him,
he organised various camps and events in Schools and Hospitals to raise public awareness of the
world recognized facts regarding Nimesulide. Even after all these years, you can hear the pride in
his voice when he shares details.
Paracetomol which was losing ground year on year to Nimesulide and other NSAIDs at the rate
of 11% per annum started growing at 10-15% per annum. From 40 crores in 2002, Crocin went on
to become an 80 crores brand in 2009. GSK continues to be one of our esteemed clients and even
today we handle most of the communication for them.
The GSK Campaign proved to be a turning point in the Via Media Journey. The much talked- about
campaign established Swadeep and his company as a credible, delivering and
Page 9
trustworthy firm. It also brought with itself the revenue which could source Swadeeps plan
moving ahead. In his own words, Via Media gained an instant identity of steering one of the most
successful Healthcare PR campaign in recent times in India. It helped us in opening our fullfledged office in Mumbai (the Pharma hub) and also in Bangalore & Kolkata. This meant that we
could pitch for bigger projects/ Brands which required all India market services and
would bring in bigger value for us in terms of business as well as recognition. Thus began our
transformation from a local Delhi company to a National company. The rest as they say is history.
Today, the client list of Via Media includes revered names like GlaxoSmithKline Consumer
Healthcare (GSKCH), PepsiCo Health & Wellness, P&G, Piramal Healthcare, Brittania, Nestle,
Kellogs, Dabur India to name a few. The company has a total strength of 120 people (whom
Swadeep addresses as ViaMedians). He established full-fledged offices at New Delhi (Noida),
Mumbai, Bangalore and Kolkota
and On-Field teams and Associates at Hyderabad, Chennai, Ahmedabad & Pune. Via Media has
also aligned itself with a multinational Consultancy Firm (not in Healthcare). Swadeep agreed to
trade some minority stake and in lieu raised some investment as well as the multinationals office
support from Germany (Hamburg), Singapore, UK (London) and UAE (Dubai). He hopes to be
active and functional from these locations by the end of this year, making ViaMedia an
International company in Healthcare Communication. The art is not in making money, but in
keeping it. Anonymous
Year on Year Via Media average earnings has grown almost 75-100%.
Coming together is a beginning; keeping together is progress; working together is success. Henry Ford
It will not be wrong to say that the real asset of Via Media is its people and the culture that
Swadeep has inculcated in the organisation over the years. In the initial years, due to the cash
crunch, Swadeep was left with little choice than to select
youngsters for his task force. But nevertheless he was very particular about selecting highly
motivated candidates who had a fire in their belly. Swadeep demanded extremely high levels of

commitment and a never say die attitude from them. It did not take long before Swadeep realised
the upside of this so called resource constraint. Not only was the resultant team highly
enthusiastic and dedicated but also highly productive. Swadeep personally trained, mentored and
moulded them into a Via Median. Many of these like Hari Om Tyagi, Sharad Gupta, Harshit Jain,
Rajesh Bali, Sushant Kumar, Mehak Chawla, Kohinoor Bhowmik, Mugdha Mishra, Shahid Akhtar,
Jessy Joji and others today form the Core team of Via Media. They contribute significantly by
heading one or more centres/division within ViaMedia. With such strong second-in-command
positions in place, Swadeep is able to concentrate on creating the right Strategy and Vision to
take Via Media to new heights.
Swadeep also practices Incentive sharing policies to align personal interests with the
organisational interests. He often awards 5-10% of the revenue generated by any account to the
team handling the account. In addition to this, Hari Om Tyagi, Director Relationship Management,
points out, Swadeep maintains close contacts with ViaMedians across levels.
He makes it a point to touch base with them at least once every fortnight. It is his way of tracking
the pulse of the company and gain informal feedback. Every race has hurdles Swadeep confesses
that the initial major hurdle was the lack of sufficient finances. This came in the way of faster
growth, greater investment opportunities and hiring the required talent. He had to depend on
higher revenues to set up new offices or hire experienced professionals. Most multinational firms
in healthcare were very professional in their dealings. But Swadeep faced challenges from small
firms and hospitals. Some local pharmaceutical companies did not pay up on time, which posed a
huge challenge for a bootstrapped start-up like Via Media.
Second disadvantage he felt was the lack of exposure to business issues and inexperience in
managing finances. There was a time when he had to incur losses due to improper financial
planning and management. Tax planning was also a big issue at times and remains a concern till
date. Swadeep faced a couple of instances when employees trained by him quit and started their
own Healthcare PR firm. He recalls, They thought that if a boy-next-door like him could do it, so
could I. This did not deter Swadeep. He had built his business through a thorough on- ground
research and through a network of professionals, which was not easily imitable. He continued to
get young people and train them, thinking that if they were aligned with his vision and were given
the necessary space, they would stay and drive Via Medias success.
The Future Swadeep has travelled a long distance from his days as a Trainee in the marketing
department to Managing Partner of Via Media. Asked about the future of Via Media, Swadeep talks
about two key initiatives. He mentions a push to circulate a periodical Heal, a complete Heath
magazine covering topics from food, ailments, FAQs etc to innovations in the medical community.
This gives the leaders in the industry an opportunity to voice their opinions, showcase their
products or facilities. The magazine allows Via Media to connect with these leaders to reinforce its
existing networks and forge new ones. The other initiative is the push for Via Media to go global
with strategic alliances with companies in specific geographies.
Page 11
Given that the India operations are in good hands, Swadeep is excited about the opportunities and
the challenges that such an expansion will bring.
2. REFLECTIONS An Evaluation of the Swadeep Srivastavas strategies at Via Media The
heights by great men reached and kept were not attained by sudden flight, but they, while their
companions slept, were toiling upward in the night.
Henry Wadsworth Longfellow
Mr Swadeep Srivastavas maiden venture Via Media and Communications Pvt. Ltd. is
unequivocally a successful one. In retrospect, it is remarkable to note how he went about building
his venture from scratch, without any formal training in business management, or without any
prior exposure to the corporate sector. The Opportunity Swadeep was extremely perceptive when
it came to identifying the perfect opportunity. He correctly identified the critical need for a
specialized Healthcare PR and communications firm in the market, given the surge in the Indian
healthcare industry. He also observed that the demand could not be met well with the current
advertising agencies as they lacked the specialized know-how. An evaluation of his idea back in
1999 would have placed it in Todays Star category on the Discontentment-Criticality Matrix
the ideal place for spotting a possible business opportunity. He was quick to grab the idea, as he
realized that the market had no players. He was driven, passionate about the idea and most

importantly, was quick in making the commitment. His timing was ideal. He saw a dormant
necessity and grabbed it earnestly.
Swadeeps idea belongs to the Level 4 of the Entrepreneurship Pyramid1. According to this
Pyramid, Level 4 includes sectors related to knowledge intensive industries or business services.
Businesses that belong to Level 4 are from an emerging sector and are characterised with very
high growth rates. It was a very prudent strategic move by Swadeep to have targeted such a
sector for his business.
1: Entrepreneurship in India National Knowledge Commission, 2008.
The Five Forces
Page 13
An analysis of Porters five forces reveals that this was a profitable industry to be in. Even though
Swadeep may not have known the five forces formally, he had the knack of identifying the
potential of the opportunity.
Competition was almost non-existent. While there were several PR firms and advertisement
agencies, no such firm specialized in the Healthcare domain.
Suppliers included journalists, media houses, and key opinion leaders such as doctors,
medical associations and health bureaucrats. They were the key opinion leaders and it
required a great deal of effort to establish ones reputation with them.
Buyer Power was low. Since Via Media was a Healthcare domain specialist, hospitals,
doctors, consumer goods companies promoting health products, and pharmaceutical
companies preferred it over other generic agencies.
Barriers to Entry were low and were required to be built by Via Media, to maintain its
positioning of differentiated offering. Via Media did so by building a very strong professional
network, credibility, reliability.
Threat of Substitutes was low. Public Relations departments of hospitals, pharmaceutical
companies, consumer goods companies could act as substitutes. However, most hospitals,
doctors and pharmaceutical companies did not concentrate much on this function, and
preferred outsourcing it.
The Big Picture
Further analysis reveals that the service provided by Via Media was new. It was set to enter an
existing, evolving Market but addressed a whole new aspect of the Healthcare industry. Its
Business Model evolved with time, through several stages of experimentation.
Raising Capital
Page 14
Swadeep never tried to arrange external funding for this venture. In part, it was because of his
lack of financial knowledge and a sense of apprehension in dealing with venture capitalists.
While bootstrapping worked very well for him, getting external financiers may have been
beneficial in the start-up or early-growth stages. First or Second stage financing could have
helped him attract better and more experienced talent, and could have helped his company
grow faster, with better hiring and advertising. Venture Capital (VC) backing may have brought
in a greater degree of professional approach in various aspects of Via Medias operations, set
specific performance targets that would help it grow, enhanced Swadeeps network in the
corporate world. VC financing, with all its downsides, may have compensated for the slight lack
of professional exposure that Swadeep sometimes felt within. Swadeep rightly did not consider
going public through an Initial Public Offer. Inviting public funds would be easier if it was an
easily scalable business. Presently, his PR agency works more though an established network
of professional contacts, and its reputation. Swadeep may be better off considering going
public with his Medico Marketing subsidiary, once
launched.
The People The key to successful leadership today is influence, not authority. Ken
Blanchard
At several stages of growth, Swadeep sought out partners for his venture. He did experiment
twice with different partners, but separated within 3-4 months of the start of their partnership,

realizing that the partner was not the right fit. This was a good move. For a venture to do well
it is extremely important to have the right team that aligns itself to the ventures goals, who
get along extremely well and have complementary skills. A poorly formed team composition or
team dynamics can be the albatross of any start-up. Swadeep did an excellent job in hiring
fresh graduates for his venture. He would hire youngsters and train them for the specialized
field and mould them to work for the organisations culture and goals. This was an intelligent
move. They proved to be easier to train, and did not stretch his finances. It also brought young
blood to the team an enthusiastic bunch who were ambitious and wanted to make a
difference. While choosing his team, he has focussed more on attitude than qualification. His
creation of
a Core team that forms the second level management provides scope for delegation, helping
both Swadeep and the team develop. His strategy of keeping the Core team tuned into Via
Medias philosophy, mission, and culture is visionary. He has tried to make every employee feel
valued and cared for. Even new entrants into the team are given amenities and perks that are
reserved for the most senior partners in most companies. This level of care and
personalisation has led to a high employee morale, trust and retention, which is commendable
for a small company to have achieved.
Page 15
Gradually, Via Media has transformed from being an Entrepreneurial Organisation to a
Professional Organisation, with a well-structured organisation line-up. This has been possible
because of the dependable core team and middle management built by Swadeep. This was a
great deliberate decision on Swadeeps part in the larger interest of the organisation, a
decision necessary for sustained growth of the company.
3. LEARNINGS :
1. Passion The Pulse of an Entrepreneur
If there ever was a synonym for Entrepreneurship, it had to be Passion Passion to make
dreams and ideas come to life, passion to be independent, to create something of your own.
Swadeeps journey is a living testimony of how passion and belief can help one overcome lack
of relevant knowledge, insufficient funding, little support from family and friends and limited
resources.
2. Spot and Seize Opportunities
Opportunities do not come with their values stamped upon them. Maltbie Babcock
The success of Via Media has once again proven that Entrepreneurship is as much about
sighting opportunities as it is about creating them. Swadeep was palpable to the changes
happening in the Healthcare industry and the promises that this fast growing industry was
offering, similar to how Vijyakumari, Owner of Swagruha Foods1 found an opportunity in the
diminishing awareness and taste of traditional sweets and Swagruha1 was born.
Page 16
3. Education Vs. On the Job Experience
The importance of formal education in starting ones own venture has oft been debated.
Swadeep did not have an extensive professional or managerial education behind him. He had
no domain education in Healthcare.
Anita Varghese, CEO-Owner of Golden Star Facilities2, lamented about her lack of financial
knowledge. Ferguson, who was the visionary behind the Vermeer Technologies3, was not a
technically trained person. But it didnt seem to limit their belief in their ideas. Swadeep learnt
all about the industry while working in Apollo Hospitals, by interacting with
the various stakeholders of the industry Doctors, Hospitals, Pharma Companies. Since he
learned most things on-the-field his understanding was greatly infused with realism,
practicality and intuition. According to Hariom Tyagi, who has spent last eight years working for
Swadeep, Swadeep used to be involved in even the most ground level operational activities
of every engagement. Nothing could miss his eyes and ears. Soon he knew more than the
people who had been in the industry for years.
All the above mentioned examples indicate that classroom teaching is not mandatory for an
entrepreneur to succeed. However both Swadeep and Anitha2 stressed on the importance of
the Basic General Management Skills, especially finance, in running day to day operations and
weighing the choices presented. Domain knowledge also results in a steeper growth curve. To

Conclude, lack of a formal education has never stopped anyone from chasing his/her dreams.
But there is no substitute to thorough planning and preparation.
4. Gain a Competitive Advantage
To make any business successful, it is important to identify a unique competitive offering which
can differentiate it from competitors by providing better value to customers. Swadeep
identified such an offering by, firstly, focusing only on one sector Health Care, unlike other PR
agencies. Then he worked towards offering a Comprehensive Communication Solution which
could meet a customers entire set of needs. He then based his services on the Pay
when we deliver model which is not so common in PR world. These offerings helped create a
niche space for Via Media and are mainly responsible for placing it at such heights today.
5. Value Your People
People are the biggest asset to any start-up. This is due to multiple factors. First, the working
teams are pretty small. Second, usually there is a flat hierarchy demanding greater synergy
and respect between members. Third, it is important that each member on board believes in
the venture as much as the CEO does. Only then will they be able to withstand various
challenges presented to any start-up. As in Vermeer Technology case3, Swadeep also invested
considerable amount of time gauging the fire and commitment in a person. In both the
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ventures we learned how the team members sheer dedication and commitment made them
work without salaries for months. We also found similarities between Swadeep and Anitha, CEO
Golden Star2, in the way they created an emotional connect with their teams by Skip-Level
policies. We also appreciate Swadeeps insight in setting up a revenue sharing model within his
organisation. Lately, he has offered stakes to some select core team members in appreciation
towards their loyalty and contribution.
6. Distribution of control is imperative for the scalability of business.
One of the main reasons why Via Media has been able to function successfully in such multifold departments like Medico Marketing, KOL Management, Healthcare PR and Media relations
is that Swadeep places his trust in his core team and allows them to lead from the front. His
trust is the biggest motivation for these members who feel an ownership towards the
organisation. The fact that they have worked together for years now, helps in coordination
and collaboration across board. Swadeep also tries to use his energy in steering Via Media
towards more and more lucrative options. This is in complete contrast to the Swagruha Food1
case study, where the Family members
need to control operations restrained Swagruha from scaling across cities and even countries.

Refer ISB Case Swagruha Foods

Refer ISB Case Golden Start Facilities and Services Pvt Ltd.
Refer HBR Case No. 9-397-078 ; Rev: July2 1997 & Exhibit No. 1 : Organisational Chart
Exhibit No. 2 : Quaker Oats Campaign By Via Media Comprehensive Approach
Exhibit No. 3 : Quaker Oats Campaign By Via Media Media Coverage Report
Exhibit No. 4 : Quaker Oats Campaign By Via Media - Print Media
Exhibit No. 5 : Quaker Oats Campaign By Via Media
Exhibit No. 6 : Quaker Oats Campaign By Via Media