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Stress in Starting Up
As
numerous Indian entrepreneurs fall prey to the stress of running young
ventures in a competitive marketplace, health issues are emerging as a
significant business risk
It had been a normal day at office for Vishal Pal
Chaudhary, until his hands began trembling and pain seared through his
body. He was rushed to a New Delhi hospital where, after a barrage of
tests, it was discovered that he had severe Vitamin D deficiency. Months of
hectic work and a poor lifestyle had taken its toll on the 30-year-old
founder of test preparatory company Topchalks. “Luckily I had two
co-founders to take care of things in my absence; if it was a startup with
only one founder, things would have gone haywire,” says the Delhi-based
entrepreneur who was forced to take a month off from work. Startups depend
on their founders to survive in the ruthless world of modern business. So,
in many ways, the health of its founders directly impacts the health of the
enterprise.
As
numerous Indian entrepreneurs like Chau-dhury fall prey to the stress of
running young ventures in a competitive marketplace, health issues are
emerging as a significant business risk. Heavy workloads, sleep
deprivation, pressure from investors and even family strife are affecting
the health of these young founders, many of whom now suffer from chronic
ailments.
Experts
say this could be one of the reasons for the high rate of failure among
startup ventures in India — 81% of new ventures die out in the first four
years in India, compared to 70% in the United States, according to research
firm Zinnov Consulting. “Health and the age of a founder-CEO is a key
business risk. It is directly related to his ability to raise funds or get a
good valuation for the company,” says Manoj Gupta, a former venture capital
investor and the founder of handicrafts retailer Craftsvilla. com.
The
founder’s inability to manage stress turns a new venture into a rudderless
ship. The possible threats range from loss of customers, disillusionment
among team members and a dilution of the company’s brand in the market.
Unlike
a large corporate, which may have others ready to step in, at a young
startup everything from customer service, payments, marketing, recruitment
and logistics is dependent on a single leader. “People switching from a
corporate job to entrepreneurship often face enormous stress as they find
themselves in the driver’s seat and responsible for the livelihood of
others,” says Dr Samir Parikh, director of mental health at Fortis
Healthcare who has treated several entrepreneur-patients. In the first few
years of launching a startup, most entrepreneurs are fired by adrenaline
and often don’t realise that their bodies are wearing out faster than they
can sense.
“An
entrepreneur’s body is on a natural dosage of steroids each day as she is
passionate about her work,” says Mohammed Hussain Naseem, founder-CEO of
2Mpower Health Management Services, a wellness firm that works with many
young companies to provide stress management programmes. The natural
steroids maintain the ordinary state of the body referred to as
homeostasis, with a normal pH level and temperature even in the midst of
high activity. But as small failures and dejections—an inalienable part of
building a young company—pile up they deplete the level of natural steroids
and the harmful effects start showing up.
Common
stress-induced issues range from anxiety, mood disorders, and low immunity
to heart ailments. “I have seen excessive greying in my hair since the time
I took to entrepreneurship three years ago,” says Ankur Singla, 29, and CEO
of Akosha. com, a consumer grievance redressal portal, referring to one of
the signs of severe stress. Many entrepreneurs helming young ventures have
also realised that fatigued and unfit employees actually lead to declining
sales. Bangalorebased online commerce startup Myntra.com has
established a gym and a room each for yoga, aerobics and table tennis with
a health instructor coming in every day.
Even
investors are becoming conscious of the risk associated with poor health of
founder-entrepreneurs. Mumbai-based Vishal Gondal, who sold his company
Indiagames to Disney in 2011 for about $100 million ( 542 crore), asks
entrepreneurs who are seeking his advice or money to meet him for a morning
run.
“Many young entrepreneurs don’t turn up
just because of the fear of an 8-kilometre run,” says Gondal, who has
completed six half-marathons in the past two years. He is also an investor
in startups such as DocSuggest and MeraCareerGuide. “All of my review
meetings with startups happen on a 10-kilometre walk or jog in or around
Mumbai.
The
walking meetings have no laptops or presentations.” Shantanu Jha, who
cofounded DocSuggest.com in
2009, admits that the reviews have improved his health and that of the
startup. DocSuggest now books 10,000 doctor appointments a month, across
four cities of Hyderabad, Mumbai, Delhi and Bangalore. Many entrepreneurs
say unrealistic expectations from investors are a primary cause of stress.
A
Bangalorebased entrepreneur said he suffers from chronic mood disorder and
hypertension due to extraordinary pressure from an investor who asks for
daily reporting of orders booked on his website. “It often spills over to my
team, or the family.” Seasoned investors, however, say the onus to not cow
down to such pressure rests with the entrepreneur. “Daily or even
forthnightly reviews means killing a startup even before it is born,” says
Raman Roy, founder of Quattro. Founders must create a strong team and learn
the art of delegation, instead of absorbing the stress alone, believes Roy,
who has invested in a dozen startups. “The pangs of childbirth have to be
borne to make a successful startup emerge.”
CASES
Yogesh Bansal 37 Founder CEO
ApnaCircle
FOUNDED: 2006 Acquired by European Social Network Viadeo in 2009
STRESS FACTOR: Poor business in the initial days had led him to the
verge of bankruptcy, affecting his health. REACTION: Bansal suffered
from sleep disorders, hypertension anxiety and all.
HOW IT WAS DEALT WITH: A former sailor, Bansal has learnt to how to
remain afloat in rough seas. He tries to bust stress by talking to other
budding entrepreneurs, and listening about their problems. He likes to
party, watch cricket and movies to switch off from work.
Sandeep Aggarwal, 40 Founder CEO
Shopclues
Founded: 2011
INVESTORS: Helion and Nexus Venture Partners
STRESS FACTOR: A Wall Street analyst, Aggarwal, packed his house, and
moved to India with his wife and kids, after living for 15 years in the
United States. Moving the house, besides setting up his startup, was
stressful. REACTION: In early days, his kids threw a fit, as they
were unable to adjust to the Indian way of life. Also, the more than 15-16
hours he put in every day took a toll on his body and he often suffers from
sleep deprivation.
HOW IT WAS DEALT WITH: While the family has adjusted to life in
India, Aggarwal tries to switch off from work by playing squash. His advice
to other entrepreneurs is to do at least one thing they are passionate
about daily, besides work.
Ankur Singla, 29 Founder CEO
Akosha
FOUNDED: 2011
INVESTORS: TheMorpheus
STRESS FACTOR: Singla was unable to switch off from work even on short
holidays.
REACTION: He often suffered from bad headaches and fever. He takes a
pain killer or paracetamol to keep him going at work even through high
fever.
HOW IT WAS DEALT WITH: More delegation to others and trusting the
team. Switching off from work and decision making once back home. Also
trying to take long holidays.
Gourav Aggarwal 36 Founder CEO
Savaari Cabs
FOUNDED: 2006
INVESTORS: Inventus Capital Partners
STRESS FACTOR: It’s the emotional extremes—with good and bad news
sometimes coming in quick succession—that troubled Aggarwal, chief
executive of Savaari Cabs, who quit his job in Cisco in Silicon Valley to
move back to India in 2006. Family life also suffered, as he couldn’t spend
time with wife and child
REACTION: Often he would get excited by a new success but very
disappointed by a loss, resulting in mood swings early on.
HOW IT WAS DEALT WITH:
He has now learnt to maintain calm and not get too excited by a win or
a loss. He is also trying to devote more time with family, especially on
weekends.
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