Startup mantras from entrepreneurs (4)
How
important are financial resources, or is resourcefulness more handy;
should your startup be many things to many people, or just a few
things for some; what if you fail; what's more important, the idea
or the execution; how do you ride the rollercoaster that a startup
is; how hard do you really need to work; how ambitious should you
really be; should you start up in an upturn or a downturn.
Here
are the gems from the NEXT SIX
20. Deep Kalra, 45 FOUNDER, MAKEMYTRIP.COM
'Failure is not a Bad Thing'
CLAIM
TO FAME
Launched the online travel firm in 2005, , which today claims to be India's largest e-commerce business.
STARTUP MANTRA
The biggest lesson I learnt is around leveraging people of varying skills to their potential... by playing to their strengths and putting them in areas where their weaknesses are not exposed. The other lesson is around resilience (not giving up too early) and that failure is not a bad thing and can actually be used to one's advantage by chanelling the energies to try harder next time ..
Launched the online travel firm in 2005, , which today claims to be India's largest e-commerce business.
STARTUP MANTRA
The biggest lesson I learnt is around leveraging people of varying skills to their potential... by playing to their strengths and putting them in areas where their weaknesses are not exposed. The other lesson is around resilience (not giving up too early) and that failure is not a bad thing and can actually be used to one's advantage by chanelling the energies to try harder next time ..
21. Sanjay Mehta, 51 CO-FOUNDER, SOCIAL WAVELENGTH
Don't Wait For the Perfect Product'
CLAIM TO FAME
Mehta was an early mover in devising social media strategies for brands in India; and JWT acquired a majority stake in his company in March 2014
STARTUP MANTRA
All you need is a "start" and you can be "up" and running! This is not just a play of words, but a fact. As a startup, you produce a product or offer a service. But where do you find the first buyer? Founders of many tech-based startups are technocrats. They focus on creating the perfect product but the product needs to be pitched and sold. This is something that does not come easily to them and hence there is a deep sense of anxiety and perhaps a fear of failure. Here's what I have learnt about selling products. Don't wait for the perfect product to be created.
A minimum viable product (MVP) is a good point to get out and find the first adopters. Yes, the question will arise that why should strangers trust you and try your product, or for that matter, invest in your venture? That is where friends and family come in. They will buy or invest just because you ask them to. And that is all that you need. On the strength of these first few adopters (or investors), you can get going, get some references, and if you have a good thing going, there's no looking back.
22. Tony Fernandes, 50 FOUNDER, TUNE AIR (WHICH RUNS AIR ASIA)
CLAIM TO FAME
Mehta was an early mover in devising social media strategies for brands in India; and JWT acquired a majority stake in his company in March 2014
STARTUP MANTRA
All you need is a "start" and you can be "up" and running! This is not just a play of words, but a fact. As a startup, you produce a product or offer a service. But where do you find the first buyer? Founders of many tech-based startups are technocrats. They focus on creating the perfect product but the product needs to be pitched and sold. This is something that does not come easily to them and hence there is a deep sense of anxiety and perhaps a fear of failure. Here's what I have learnt about selling products. Don't wait for the perfect product to be created.
A minimum viable product (MVP) is a good point to get out and find the first adopters. Yes, the question will arise that why should strangers trust you and try your product, or for that matter, invest in your venture? That is where friends and family come in. They will buy or invest just because you ask them to. And that is all that you need. On the strength of these first few adopters (or investors), you can get going, get some references, and if you have a good thing going, there's no looking back.
22. Tony Fernandes, 50 FOUNDER, TUNE AIR (WHICH RUNS AIR ASIA)
'Dreams
Worth Having are Never Easy to Achieve'
CLAIM TO FAME
The Malaysian-British entrepreneur introduced the first budget no-frills airline, Air Asia, to Malaysians. It is now Asia's biggest low-cost airline
CLAIM TO FAME
The Malaysian-British entrepreneur introduced the first budget no-frills airline, Air Asia, to Malaysians. It is now Asia's biggest low-cost airline
STARTUP MANTRA
The one thing that I've learned and what holds true to this day is that you can't give up. Never let failure get you down. Dreams worth having are never easy to achieve and, more often than not, you will encounter disappointment but it really is better to have tried and failed than to have never tried at all. You will either learn something valuable from the experience, or be that much closer to your dream. When I started AirAsia, everyone told me I was crazy, that it would never work. And, to be honest, I didn't always know how it would turn out. It's hard work, and it's not for the faint-hearted. But if you are passionate about it, it does not become work, it'll be a joy to do. Don't let anyone tell you otherwise. Keep pursuing your passion and success will come chasing after you.
23. GM Rao, 64 FOUNDER, GMR GROUP
'The Most Important Learning is Learning Itself'
CLAIM TO FAME
After starting out as a commodities trader, Rao founded GMR in 1978, which today has grown into a Rs 10,653-crore infrastructure conglomerate with interests in airports, energy, highways and urban infrastructure
STARTUP MANTRA
I have learnt a great deal throughout my life journey. Every phase of my journey has provided me with different sets of learnings. However, the most important learning which has stayed with me throughout the journey is 'learning' itself. I strongly believe in 'learning' which is an offshoot of 'humility', the value, which I have developed over the years. When I was in the early days of the trading business, being an engineer, I used to sit and negotiate with farmers. That has helped in developing the humility in me. Humility opens the door for learning, which is very important for any leader to succeed, especially in today's VUCA (volatile, uncertain, complex and ambiguous) world. For any person, learning should be a lifelong process. While a person can definitely learn from his or her success, he or she can learn even more when he or she loses. I strongly believe that 'success is a great motivator and failure is a great teacher'.
24. Vishal Gondal, 38 FOUNDER, INDIAGAMES.COM
'Set
Goals that are Ambitious'
CLAIM TO FAME
A serial entrepreneur and angel investor, Gondal is now betting on wearable devices with his startup GOQii
STARTUP MANTRA
The most important lesson is to think big. A lot of companies set small goals. They must think big, aim very high. They must not have low expectations from what they can do. One of the things that differentiated Flipkart is that they set ambitious goals. It helped them get high up there.
CLAIM TO FAME
A serial entrepreneur and angel investor, Gondal is now betting on wearable devices with his startup GOQii
STARTUP MANTRA
The most important lesson is to think big. A lot of companies set small goals. They must think big, aim very high. They must not have low expectations from what they can do. One of the things that differentiated Flipkart is that they set ambitious goals. It helped them get high up there.
25.
Raj
Sheth, 32 CO-FOUNDER, RECRUITERBOX.COM
'Don't do Everything Yourself'
'Don't do Everything Yourself'
CLAIM
TO FAME
Had founded two web startups, a classified portal and an e-commerce site, before co-founding the web-based recruiting software in 2010
STARTUP MANTRA
Don't try to do everything at once and don't do everything yourself. Figure out what's the most important thing and go after that, and get great people early on to help you with that mission. Easier said than done, I know.
Had founded two web startups, a classified portal and an e-commerce site, before co-founding the web-based recruiting software in 2010
STARTUP MANTRA
Don't try to do everything at once and don't do everything yourself. Figure out what's the most important thing and go after that, and get great people early on to help you with that mission. Easier said than done, I know.
ET141228
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