How these famous entrepreneurs carved their path of success
Kunal
Bahl: CEO & co-founder Snapdeal
I was doing
three eclectic jobs helping out in research, working with an NGO and running my
own detergent company (my first company) when I was in college in the US. I
love food and one of the reasons I worked hard was so I could afford to eat at
a decent restaurant. When we (he and Rohit Bansal) started the company
(Snapdeal), we had no money. Whenever investors would ask us to come for a
meeting, we would just say, "Skype kar lete hai." Of course, there
were learnings. One, don't waste money. Second, don't buy things you have to
worry about. I never owned a watch in my life, don't have a fancy car, big
house, nothing. Third, make sure if someone else is in need, you are there to
support them. The helplessness when you don't have money for basic needs is quite
acute."
Vijay
Shekhar Sharma: CEO, Paytm
"This
was in 2004, when I used to aim at earning at least Rs 6,000 a month. That's
because Rs 5,000 would go towards house rent, Rs 500 for electricity and Rs 500
for personal use. I remember avoiding the landlord as I was not able to give
rent on time. So I used to do these one day jobs, like giving lectures about
internet, setting up internet network. I was available for Rs 5,000 a day
(laughs) at that time. Living on a budget simply means you have to be extremely
careful with money. I didn't have any institutional money then and the company
was breaking even in the balance sheet but not in cash flow."
Pranay
Chulet: CEO, Quikr
"This
whole being-on-abudget thing is a matter of perspective. Some of the best things
in life are done in a pair of blue jeans and on a budget. I don't know what
defines being on a budget but I guess in my journey, my college days should
qualify for that. When all of us were fukras and used to fuss over splitting
our nearzero canteen bills to the last penny. I guess that's when I learnt some
pretty cool life lessons. Like jeans are better than suits, simple wood is less
slippery than marble, and dreams go farther than money."
Akshay
Dhoot: Head of Technology and Innovation, Videocon
"Boarding
school made me learn how to manage expenses. I was on fixed pocket money and
took buses instead of taxis to save money and buy gadgets. I bought my first
touchscreen smartphone with my own savings."
Radha
Kapoor: Executive Director, ISDI
"I am
always on a budget. Though today I am fortunate to be able to afford most
luxuries and comforts, as a person I am value conscious. The foundation of this
was laid when I was a student in the US. I would take part time on-campus jobs
to generate some income. It is important to live within your means. As an
entrepreneur this ethos of a rupee saved is a rupee earned comes handy. My
various ventures are at different lifecycle stages, yet culturally, my team and
I believe in inculcating a bootstrapping mind-set without compromising on
quality. While we have instituted delegation in our teams, with respect to
costs-spends or investments, I insist on a weekly MIS which I review to the
last rupee."
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