E190 - Lord Bilimoria: Adversity into opportunity - Building a global beer empire with Cobra

Lord Bilimoria is a businessman and life peer in the House of Lords. Founding Cobra Beer in 1989, in this interview Lord Bilimoria distils decades of business experience into valuable lessons. After attending university at 16, Lord Bilimora came to the UK on a scholarship at 18. It was then he identified a space in the market for Cobra Beer, inspired by his youth in India.

In this episode, they discuss how being creative and an innovation is crucial for an entrepreneur and how to cultivate these skills. He offers the tips he uses to problem solve, how to pursue optimism and how his motto, “problem, solution, action”, plays into his everyday life. He shares with Jake and Damian his failures, successes and how he has learnt to identify when to give up and when to push through.

Hosted on Acast. See acast.com/privacy for more information.

**Navigating the Path to High Performance with Lord Bilimoria**

In this episode of the High Performance Podcast, hosts Jake Humphrey and Damian Hughes engage in a captivating conversation with Lord Karan Bilimoria, a prominent businessman and life peer in the House of Lords. Lord Bilimoria, renowned for founding Cobra Beer in 1989, shares valuable lessons and insights gained from decades of business experience.

**Entrepreneurship and the Importance of Creativity and Innovation**

Lord Bilimoria emphasizes the crucial role of creativity and innovation for entrepreneurs. He highlights how his initial perception of lacking creativity was transformed when he embarked on his entrepreneurial journey, recognizing the immense value of these skills. He stresses the need to cultivate creativity and innovation as essential qualities for success in business.

**The Problem-Solution-Action Approach**

Lord Bilimoria introduces his problem-solution-action methodology, which has guided his decision-making throughout his career. He emphasizes the importance of identifying problems, devising solutions, and promptly taking action to address challenges. This approach has proven instrumental in his success, including his tenure as president of the Confederation of British Industry (CBI) during the COVID-19 pandemic and the Ukraine war.

**Tips for Effective Problem-Solving**

Lord Bilimoria shares practical tips for effective problem-solving. He illustrates how his dissatisfaction with the available beer options in the UK led him to conceive the idea for Cobra Beer. He highlights the significance of experimentation, stepping away from the problem to gain fresh perspectives, and embracing serendipity as opportunities arise.

**The Role of Optimism and Knowing When to Give Up**

Lord Bilimoria discusses the importance of optimism in entrepreneurship. He acknowledges that successful entrepreneurs tend to be optimistic but also emphasizes the need for realism and the ability to recognize when it's time to abandon a venture. He stresses the importance of perseverance while acknowledging the wisdom of knowing when to cut losses and move on.

**Additional Key Insights**

* **The Power of Determination:** Lord Bilimoria emphasizes the significance of determination in seizing opportunities. He believes that determination is the key to recognizing and capitalizing on opportunities that may otherwise pass unnoticed.

* **The Value of Adaptability:** Lord Bilimoria reflects on his upbringing in India and the frequent relocations his family underwent. He attributes his adaptability and flexibility to these experiences, which taught him to embrace new environments and make friends easily.

* **The Importance of Education:** Lord Bilimoria highlights the value of education in his life. He attended university at the age of 16 and later pursued further studies in the UK. He credits his academic background for providing him with the knowledge and skills necessary for success in business.

**Conclusion**

Lord Bilimoria's journey is a testament to the power of creativity, innovation, and resilience. His problem-solution-action approach and emphasis on optimism serve as valuable lessons for aspiring entrepreneurs and business leaders. His insights into the importance of adaptability, education, and knowing when to give up provide a comprehensive framework for achieving high performance in all aspects of life.

## Summary of the Podcast Episode: Lord Bilimoria on Creativity, Innovation, and Entrepreneurship

### Introduction:

- Lord Bilimoria is a successful businessman and life peer in the House of Lords.
- He shares his insights on creativity, innovation, and entrepreneurship, drawing from decades of experience.

### Key Points:

#### 1. The Importance of Creativity and Innovation:

- Entrepreneurs must be creative and innovative to succeed.
- Cultivating these skills is crucial for problem-solving and finding new opportunities.

#### 2. Problem-Solving Techniques:

- Lord Bilimoria emphasizes the "problem, solution, action" approach to problem-solving.
- He encourages entrepreneurs to turn obstacles into opportunities.

#### 3. Maintaining Optimism:

- Entrepreneurs should remain optimistic and believe in their ideas.
- Perseverance is essential in overcoming challenges.

#### 4. Identifying When to Quit:

- Lord Bilimoria advises entrepreneurs to recognize when an idea is not viable and to have the courage to give up.

#### 5. Resilience in Business:

- He shares his experiences of overcoming business crises, including financial difficulties and boycotts.
- Resilience and integrity are vital for navigating tough times.

#### 6. Attitude and Willpower:

- Lord Bilimoria emphasizes the importance of attitude and willpower in entrepreneurship.
- He seeks individuals with the right attitude and willingness to work in a team.

#### 7. Non-Negotiable Behaviors:

- Integrity, attitude, and teamwork are non-negotiable behaviors for Lord Bilimoria.

#### 8. Strengths and Weaknesses:

- He acknowledges his weakness of taking on too much, but values his creativity, leadership, and multitasking abilities.

#### 9. Motto for Success:

- Lord Bilimoria's motto is "aspire and achieve against all odds with integrity."

#### 10. Misconceptions about Him:

- He clarifies that despite his privileged background, he faced financial challenges and worked hard to build his business.

#### 11. Advice for Young Entrepreneurs:

- He encourages young people to be curious, believe in themselves, and follow their passions.
- He emphasizes the importance of learning continuously and applying the "10 Ps of Business" for success.

### Conclusion:

- Lord Bilimoria's insights provide valuable lessons for entrepreneurs and aspiring business leaders.
- His emphasis on creativity, resilience, and integrity resonates with the challenges and opportunities of modern entrepreneurship.

# Lord Bilimoria: Innovation, Problem-Solving, and the Power of Optimism

In this podcast episode, Lord Bilimoria, a renowned businessman and life peer in the House of Lords, shares his decades of experience and valuable lessons learned in the world of entrepreneurship and innovation.

## Embracing Creativity and Innovation:
Lord Bilimoria emphasizes the significance of creativity and innovation for entrepreneurs. He believes that these qualities are crucial for identifying market gaps and developing unique solutions. His journey with Cobra Beer serves as an example of how he recognized an opportunity in the UK market for an authentic Indian beer.

## Cultivating Problem-Solving Skills:
Lord Bilimoria shares his approach to problem-solving, highlighting the importance of identifying the root cause of an issue rather than just treating its symptoms. He stresses the need for a systematic approach, where problems are broken down into smaller, manageable steps, and solutions are developed through brainstorming and collaboration.

## Maintaining an Optimistic Mindset:
Lord Bilimoria emphasizes the power of optimism in overcoming challenges and achieving success. He believes that entrepreneurs should focus on the opportunities and possibilities rather than dwelling on obstacles. His motto, "problem, solution, action," reflects his belief in taking proactive steps to address challenges and move forward.

## Recognizing When to Give Up and When to Persevere:
Lord Bilimoria discusses the importance of knowing when to give up on a venture and when to persevere. He highlights the significance of analyzing the situation objectively, considering factors such as market conditions, competition, and available resources. He stresses the importance of making informed decisions based on data and insights rather than emotional attachment.

## Key Insights and Takeaways:
- Creativity and innovation are essential qualities for entrepreneurs to identify opportunities and develop unique solutions.
- Problem-solving skills are crucial for tackling challenges systematically and effectively.
- Maintaining an optimistic mindset helps entrepreneurs overcome obstacles and achieve success.
- Knowing when to give up and when to persevere is a critical skill for entrepreneurs to make informed decisions.
- Lord Bilimoria's journey and experiences offer valuable lessons for aspiring entrepreneurs and business leaders.