We know him famously as the Principal Architect of MB Consulting, the man who has brought a perspective overhaul for architecture in Jaipur with his breath-taking contemporary work. Little did we know, Madhur Bumb is a seasoned entrepreneur.
In a fleeting period of 3 years, he has expanded into the breadths and depths of architecture & design; Real Estate Development and, wait-for-it, food, and hospitality business- being the co-owner and mastermind behind Qila Patiala.
In an era where such swift diversification and expansion can only be expected in the e-commerce bubble, Madhur is the proponent of old-school business strategies.
Wondering how he does it? Read along:
1) You’ve already carved a niche in Architecture & Design, why did you now decide to explore new avenues?
Architecture is a passion that I successfully pursue at MB Consulting but the entrepreneur in me is continuously engaged in business innovation. The hunger to expand is almost constant.
To be frank, even at MB Consulting, we have been constantly evolving given the diverse range of services we offer, from architecture and interior design to project management and strategic business advisory to our clients. When one comes to MB for architecture or other design projects, it goes way beyond spectacular design, it is an instrument for growth in life as well as business for our clients.
So, it just seemed like an organic step towards branching out.
2) We already know MB Consulting. What exactly are the other 2 ventures?
Well, there is Real Estate Development, which is primarily based on our expertise in lean construction.
The property assets we are developing portray ‘Maximum Value-Minimum Waste’ principles in an exemplary manner as applicable in the Indian Scenario.
On the other hand; Qila Patiala was frankly born out of pure love for food. It is also the perfect example of how good design shapes and transforms brand value, differentiating you from the rest. The idea was to design a place that portrays the regal side of Punjab, their flamboyance, and love for grandeur, hence the name and the cuisine that is just as rich.
3) But, from design to real estate development and the food industry, the three are seemingly very different? Can you tell us how you decided on these areas?
Firstly, on a fundamental level, the core principles of business do not change.
We’re a process-driven organization and our philosophy has always been to give value to our clients and customers.
It comes from my understanding of how the economy works. You find a gap in the industry and give the people what they are looking for. Better still, sometimes give them more than they’ve experienced before, how else will they know if they like it?
That is what all three of our enterprises have in common.
4) How do you know when it is the right time and place to expand or diversify?
That is quite a subjective decision but I will tell you this, there is no such thing as being ready enough and “perfect timing” is over-rated.
You need to have the stomach for it. Come up with a crazy original idea, do your research, make it workable and just take the plunge.
The best way to do something is to simply do it.
5) What advice do you have for budding entrepreneurs?
At the risk of sounding banal, you have to work hard. Remember that the shortest way is the way through. Do not be blinded by current trends, go back to the roots. Old school strategies have stood the test of time and they are here to stay. The reason why we have been able to not only sustain but grow in times of such turbulent economic conditions, government policy changes and demonetization can be attributed to our core beliefs of how we enter into business with the mindset that we are here to stay. This, in my opinion, can only work if you skip the shortest route mentality and discard aims of making a quick buck.
6) So, you have ‘Roti’ (Qila Patiala) and ‘Makaan’ (Architecture & Construction) covered. Can we expect a ‘Kapda’ venture to follow soon?
(Laughs) Why not? I do like clothes!
This week MB Consulting is celebrating its three year anniversary in Jaipur. We wish them great success in the years to come and cannot wait to see what they bring about next.
It is a moment of pride and motivation for Jaipur to have such an inspiring architect in our midst. His success mantra and directions can help a lot of budding architects as well as entrepreneurs to pursue their ambitions and reach new heights.
