The other day I was watching the interview with CEO@BookMyShow, Ashish Hemrajani.

The interview was conducted by Shraddha Sharma of YourStory. #MoneyMatters

Ashish is an inspiration. He has the incredible business wisdom we all can learn from.

Thanks a lot to Shraddha for giving us an opportunity to hear from Ashish.

And….

Happiness for me is to share every interesting thing I learn.

So here I am.

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The following are the 10 profound pieces of business wisdom as learn from Ashish.

1. Play the Long Innings

• Ashish started Big Tree Entertainment in 1999.
• He witnessed the Dot Com bubble burst in 2001-2002.
• He started BookMyShow in 2007, only to face the global financial crisis in 2008-2009.
• These crises taught him valuable lessons – economic downturns can happen anytime.
• By the time COVID-19 hit, he was better prepared, even though the entertainment industry was among the worst-hit sectors.
• His advice? Build a business conservatively and play the long game.

Entrepreneurs who think long-term have greater chances of sustainable success, just look at how SaaS brands sustain growth even in tough markets.

2. Positivity and Preparation

• Memories are short. In good times, people forget the bad, and in bad times, they forget the good.
• Life is cyclical, full of ups and downs.
• Yes, the entertainment industry suffered, but it will bounce back. Humans are social beings.
• The key? Be prepared for the comeback.

Some action-driven ideas Ashish suggested:

• Checkerboard seating, ensuring social distancing inside cinemas.
• More showtimes, compensating for reduced occupancy.
• Deep cleaning between shows, alternate show schedules for sanitization.
• Distributing masks, similar to how 3D glasses are provided.
• Minimal contact measures, a range of initiatives to ensure safety.

Similarly, in content marketing, adaptability is key. Learn how brands pivot their content strategies to stay relevant in evolving markets.

3. React Nimbly & Be Quick

• BookMyShow went fully digital on the 5th day of lockdown.
• Even before the pandemic, BMS had already diversified into:
  • Concerts & live event promotions
  • Its own production house
• When the pandemic hit, BMS:
  • Reacted weekly, adapting to the changing situation.
  • Cut costs immediately where necessary.
  • Launched “Watch Guide”, a movie and show recommendation platform.

What makes Watch Guide special?

• It covers content across platforms like Netflix, Prime Video, Zee5, Mubi, Hotstar, and more.
• Personalized recommendations based on user history—BMS knows:
  • What movies customers booked tickets for.
  • Which concerts or shows they attended.

Giving back to customers:

• Watch Guide is free for users but has started generating revenue from sponsors.
• Millions of users are engaging, and many have registered for alerts and recommendations.

BookMyShow isn’t the only brand adapting fast. See how the buyer’s journey influences business decisions.

4. Lead by Example

• The founder and leadership team took a 50% pay cut.
• Ashish says, “I haven’t lost a single night’s sleep. This is temporary.”
• Monday–Friday remains the same, packed with Zoom meetings and brainstorming sessions.
• Innovation and product development are being fast-tracked.
• BMS is also working on consulting projects to future-proof its business.
• Ashish: “We’re working harder than ever, exploring new opportunities in new ways.”

5. Cash Reserves Matter

• BMS follows a simple rule:
  Raise capital when you don’t need it.
• Businesses that have liquidity and cash reserves can:
  • Experiment.
  • Innovate.
  • Explore M&As (mergers & acquisitions) or acqui-hires.

A critical mistake to avoid:

• If you’re constantly worried about having only 2–3 months of cash left, you’ll struggle to implement long-term strategies.
• Fancy valuations don’t matter. What matters is:
  • How much money do you have in the bank?
  • How profitable is your business?

6. Understanding Customers & Their Environment

• India is an “indoor nation”. Despite plenty of sunshine, many suffer from Vitamin D deficiency due to:
  • Traffic congestion.
  • Pollution.
  • Heat and humidity.
• Cinemas offer an escape. Being air-conditioned is one of their biggest USPs.
• Movies and cricket are deeply embedded in Indian culture.
• Indians go to the movies for entertainment and, well… popcorn.

7. Will OTT Platforms Replace Cinemas?

• No. OTT (Over The Top) platforms and cinemas will co-exist.
• Factors like technology penetration, pricing, and demographics play a crucial role.

8. Diversification is Key

• Businesses should have multiple revenue streams.
• If one chokes or shuts down, others should still be working.
• Diversification must be strategic and sensible.

9. Helping the Less Privileged

• India’s 1 billion+ population is divided into:
  • 100 million privileged individuals, with access to top education, private healthcare, and financial security.
  • 400 million in the emerging middle class, consuming OTT content and improving their standard of living.
  • The marginalized society, struggling to meet basic needs.
• Ashish believes the top 100 million are not doing enough to uplift others.
• Even a small impact within your 1 km radius can make a difference.

What is BookMyShow doing?

• “Book A Change” charity fund, supporting people in theatre, music, art, cinema, and sports.
• 20% of funds redirected to pandemic relief efforts.
• 1,000+ breakfast meals prepared daily for frontline workers.
• BMS customer service executives allocated to Mumbai’s COVID-19 helpline.
• 5,000 healthcare workers were mobilized through BMS’s platform.

10. Build for the Long Run

• Business is a marathon, not a sprint.
• Why did you start a business?
  • To raise capital and cash out?
  • Or to solve a problem and follow a passion?
• Stay in the money:
  • Make sensible commercial deals.
  • Reduce your burn rate.
  • Focus on profitability.
• Surround yourself with:
  • People who inspire you.
  • Customers who trust you.
  • A team that shares your vision.

Consistency is Key

• Take time off on weekends.
• Pursue interests outside of work.
• Build an organization with balance and long-term sustainability.

Ashish truly is an inspiration. Every entrepreneur can learn from his journey!

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