Prabhat is an international development leader with over twenty-five years of experience. He has designed and led agriculture, financial inclusion and enterprise development initiatives across over twenty countries in Asia, Africa and North America. Prabhat is also the co-founder and CEO of Grameen Impact Ventures, an AgFinTech social business. In his previous roles, Prabhat worked with MasterCard Foundation Canada, CARE USA, CARE India, UTI Bank (now Axis Bank), Entrepreneurship Development Institute of India and Vidya Bhawan KVK.
Linkedin : https://www.linkedin.com/in/prabhatlabh/
Twitter : @PrabhatLabh
Q. How has been your journey from IIFM to this role?
A. I can divide my career journey of the last twenty six years into three phases. The first phase was exploration, in which I explored many things and didn’t really know, what I wanted to do. The second phase was finding a domain which really interested me, and getting recognized as an ‘expert’ in that space. The third phase was to expand my horizons from being an expert to becoming a social sector leader.
I have lived in five different countries on three continents and managed programs in over two dozen countries. I have worked for leading non profit organizations and philanthropic foundations in the world. I have designed and managed programs with hundreds of millions of dollars in funding that have had an impact on millions of low income people in Asia and Africa.
That may sound like the description of a very successful professional career. But it has not always been that way. I had a very humble beginning to my career. Where I stand today is a result of some unconventional decisions I made at some crucial moments in life.
As I was passing out of IIFM, I had two opportunities in front me. One was from a reputed market research and consulting firm offering a decent salary and a predictable career path. The other was to work for a small NGO Vidya Bhawan KVK, working with farmers in south Rajasthan- a name I hadn’t even heard before.
This is where Robert Frost’s famous poem ‘Taking a road less travelled’ became my compass.
… Two roads diverged in a wood, and I—
I took the one less travelled by,
And that has made all the difference.
Even though my dream was to become a high profile consultant, I decided to work for this NGO for a couple of years. My reasoning was that working at the grassroots with a non profit for a few years would give me an opportunity to develop a deeper understanding of rural livelihoods and poverty, and will help me become a better consultant in future. Also, on my first visit to the NGO in Udaipur, I just fell in love with the city, and the prospect of living there for a few years looked far more appealing than being in a high profile corporate job.
This serendipitous journey, taking a road less travelled and making unconventional career choices in order to learn about the world around me and also understanding myself defined the first part of my career trajectory.
The second phase of my career journey started when I joined CARE India. This opportunity to shape the microfinance industry and institutions in its early years came to me as my true calling. Being in a space where my passion and capabilities were aligned, led me to build deep domain expertise. From a vague notion of being a ‘development professional’ to becoming a ‘domain expert’ led to other good things, like getting recognition and opportunities to expand my horizons outside India. I was called by CARE USA to move to Africa, where it was rolling out a pan- Africa microfinance initiative, and wanted me to be a technical expert in this program. My job was to provide technical assistance and advise over a dozen country offices of CARE in Africa in community-based microfinance. It was a very fulfilling and satisfying role which also opened other opportunities for me, landing me where I am today. I also got to fulfill a long cherished dream of working in Africa, and got an opportunity to travel far and deep in different corners of that vast continent.
Q. What were some of the key milestones/learning in this journey that you would like to share with us?
A.
- Over the course of my career trajectory, I have realized the importance of being a constant learner.
- The trait of going deep in understanding the subject/area and applying your own mind and analysis before reaching conclusions.
- The importance of not being in a hurry to get somewhere, but to enjoy the journey.
- The importance of investing your time with people around you and developing deeper bonds and connections.
- There is no shortcut to success other than hard work.
- It is not extraordinary talent, but extraordinary effort that is necessary for outstanding success.
- One should not hesitate to stand alone if you have conviction about something, which is not aligned with the views of the rest. Once you do that, you would find other people would come forward and join you.
A favorite quote I would like to share is from Vineet Nayyar, former CEO of HCL Tech –
‘It’s okay to chase impossible trains. Keep running and someday, someone will throw you into it’.
Q.What is the most satisfying part of your current role?
A.The most satisfying part of my role is that I have been given this amazing opportunity to lead an organization that has such a huge mandate and a legacy. The job of a CEO is like no other. No matter how much you do and learn in any other role, you can never be fully prepared to be a CEO. So, you are on a constant learning path. While you have to grapple with everyday existential questions, you also get an opportunity to take a step back, think and strategize. Knowing that the buck stops with you, and everybody is looking upto you for guidance, direction and decisions, puts you in an immensely responsible position. The decisions you make as a CEO have implications for a lot of people. So, you develop the skill to ask questions and develop the confidence to make decisions even when you do not have all the data points.
Q. Has your learning at IIFM helped in shaping how you approach your professional roles?
A. The best part of the IIFM program which is unique vis-a-vis any other Management programs is the push to develop a deeper understanding of the world around you and look for different perspectives. You not only look for the economic logic, but you also look for social, psychological and anthropological perspectives along with environmental factors. In a very conscious manner, the IIFM program is designed to give you that multi-dimensional perspective. We are now living in a ‘VUCA world’ where no skill can be more valuable than this multi-dimensional perspective and the ability to think, engage and lead. The world is talking about climate change today, a perspective that all the IIFMites get to develop the day they enter IIFM. The IIFM pedagogy forces you to look at different perspectives, like having an anthropocentric versus eco-centric perspective or managing contradictory demands of urban and rural or tribal populations. This is what makes you into a grounded and well-rounded social impact leader.
Q.Who (or what) are the biggest influences or drivers in your careers? What would be your advice to freshers and IIFM graduates who are looking to choose similar sectors/roles?
A. I have truly been inspired by people like Vijay Mahajan, Prof Muhammad Yunus, Ila Bhatt, M P Vasimalai, Aruna Roy and many more that league. They all are outstanding leaders. Besides being extraordinarily brilliant, they all represent the vision, courage and audacity to do something different. They are some of the visionaries who imagined a different world and provided a guiding path to the generations that followed to gradually make this world a better place. They are the ‘original’ pioneers in the space of social impact. My advise to IIFMites would be to find a role model, and see, what you can learn from them. Also, the need to be authentic. Oscar Wilde said, ‘be yourself, everyone else is taken. This world offers everyone an opportunity to be yourself. What is required is imagination, courage and conviction.
Q.What are your favorite memories during your IIFM days?
A. The two years at IIFM was like two decades of life and experiences, packed in a film that you watch in a fast- forward mode. The time spent on the field visits and two organizational training (now called SI & Project) segments are the most memorable parts. Endless night long GBMs to decide about the rules of the placement committee, evening tea behind the mess, walks down the hill to fill the hunger pangs in the evening, weekend trips for eating out and watching a movie together, running the mess, are all part of the fond memories. The best part is the life-long friends that I made at IIFM, with whom I have remained in touch, whether while travelling in the wilds in Africa or exploring life in the cold Canada!!
Q.In hindsight, what was the biggest contribution (courses, faculty, library, friends, alumni.. Anything else!!) or take away from IIFM that you think played a critical role in shaping you as an individual or professional?
A. All of them in fact. Faculty members who are friendly and approachable and genuinely interested in helping you, friends and batchmates from different backgrounds and geographies, Alumni who make you feel and develop a deeper connection to the institute through their own example of spending time with the juniors, visiting the campus etc, have all been great influences. The library and the computer facility at IIFM were ahead of many other institutions, and it offered an opportunity to the students to expand their imagination and horizons. The fact that almost 7 months out of the 21-month course was spent outside the campus, on field work and organizational training segment, was the most outstanding contribution of the course, as it really prepared us for life in the real world.
Q. The best buddies / seniors /faculty at IIFM? Some memorable tidbits that you like to share?
A. Many of the friends I made at IIFM, have remained lifelong friends. Amongst the seniors, I got to meet and interact with people like Sabby (Sarabjeet), Nanda ji (Saroj Nanda), DK (Dharmendra), Vineet Rai, Harish, Anish, Jayesh, Verma ji (Manish) and many more; similarly have met many juniors at different stages of life, and the IIFM bond comes up instantly. In my professional work also, I frequently end up dealing with an IIFMite on the other side of the table, and that just shows, in how many different vocations IIFMites are in a leadership position today.
About 15 years ago, one day, there was a knock on my door. As I opened the door, I saw a gentleman and a lady who had come to see the apartment, as we were about to vacate that apartment. The moment I opened the door, the gentleman remarked, you are Labh from IIFM. It took me a moment to recognize the couple, who happened to be Sujoy Banerjee, who has the unique distinction of being both an alumni as well as a former IIFM faculty, and now a very senior IFS officer, and his wife Vandita Singh, also a IIFM faculty. The fact that he recognized me instantly even though he was meeting me after over a decade and that too unexpectedly, was amazing. Another time, I was having a meeting at a leading investment bank, where the moment my counterpart came to know about my IIFM background, told me, he would like to introduce me to someone. He went out and returned with Prof Ravi Sunder. Even after a gap of over 20 years, the meeting was as if we had just met yesterday. Prof Suprava Patnaik was my guide for my OT project, and it has always been amazing to meet her afterwards. We had a great time playing badminton and volley ball with Prof Amitabh Pandey. We used to have very competitive volleyball matches with the amazing volleyball team of the mess staff comprising Chandu bhaiya, Dhol Singh, Tolu etc.
Q. As an alumni, what’s your advice to freshers or those are joining IIFM to get best out of the 2 years there?
A.What worked for me, may not work for others. So, whatever I am going to say, is from my experience so take it sportingly.
Chart your own course and make your own decisions. When I entered IIFM, very quickly, I realized that management course is not an academic course and hence it is not about working towards acing the grade sheet. Learning to apply the skills and decision making is the most important skillset along with analysis and problem solving.
Out of the thirty-two subjects that we had to study in the five classroom terms, clearly, nobody can be passionate about all thirty-two. I made a conscious choice to focus on what I wanted to do, and not waste my time on every subject in order to secure good grades. The topper from my class from both ends of the spectrum are in the same job today, leading a UN Organization. So, what grades you secure does not matter beyond a point. What you learn, and how you apply yourself in different situations, determines your career trajectory. Spend time knowing people around you, develop deeper friendships and connections as that is what lasts in life.
Q.What is your typical day at the office?
A.In my typical day at office, I am engaged in a lot of meetings. Some of these are for internal reviews of programs, finance, institutional relations, marketing and communications. I am also on a lot of external meetings with various stakeholders. I spend a lot of time reviewing documents, reports, proposals etc. I maintain an open-door policy in the office so anybody can ping me or walk into my office to have a chat or discuss things. Throughout the day, I would have colleagues dropping by to have a short conversation which keeps me engaged and involved with the team. A good part of my time also goes into thinking and writing. My work does require me to travel a lot. When that travel is to the hinterland, it is very fulfilling. When travel is restricted to airports, hotels and meetings, that can also be highly monotonous and tiring.
Q. And how about weekends, Hobbies, Family and anything else you want to add ?
A. My hobbies include travelling, reading and spending time with my family. My wife is also a development sector professional, and she has been an important companion in my professional journey. We discuss on a lot of topics, related to development, politics, economics etc. I have a 14 year old daughter, who is an avid swimmer. I spend a lot of time taking her to her swimming practice. We have a dog, and no matter how busy I am, she has to go for a walk with me every morning and every evening. My parents and siblings live closeby. So, we have very frequent family get-togethers.
Q. Favorite Books, movies, authors
A. I am not much into movies. But I have deep appreciation for the work of actors like Irfan Khan, Nawazuddin Siddiqui, Aamir Khan, Manoj Bajpai, Amol Palekar etc. Some of the books that I have deeply appreciated are, Zen and the Art of Motorcycle Maintenance (Robert M Pirsig), Blink, Outliers and Tipping Point (by Malcolm Gladwell), Sapiens (by Yuval Noah Harari), The Difficulty of Being Good (Gurcharan Das). I also like the work of Amitav Ghosh, Paulo Coelho.
Q.IIFM is driven by alumni’s passion and commitments towards its goal. How would you like to contribute to IIFM or IIFM alumni, students?
A. I will be happy to speak to the students. It could be a formal talk, or an informal session. I would be happy to help current students and alumni if they are looking for advise, guidance or any engagement which adds value.
Q. What do you think is different at IIFM now vs when you studied there? What do you think is a positive change and what is not?
A. Many of the good things and not so good things continue today the way it was. Even today, the students are as confused about questions such as ‘who we are, what is our role in this world, why do we have an ‘F’ in our degree’!! In our time, a small batch size of 23 left on top of a hill without the distractions of social media, Google, Smart phones and Netflix created perfect opportunity for very intense interaction in that small group which ensured life long connections.
Not just at IIFM, but amongst the students in general, reading habits have changed significantly and not necessarily for good. At the same time, I also find students who demonstrate a much greater audacity to think big. While the batch sizes may have become larger, I am not sure the debates on key things are as diverse and nuanced today. That is less a reflection on IIFM, and more on the society and the times we live in.
Q. Any suggestions on who you want to get profiled/interviewed here?
A. Many people from my batch would have amazing stories to share. From my batch, people like Archana Sharma, Manas Ranjan Mishra, Rohit Jindal, Vikas Nath, Seema Joshi, Bishwadeep Ghose, Mohammad Hasnain & ADP Madhavan are some people from my batch, who all would have very interesting stories and insights from their journey.