Source | www.moneycontrol.com
This year started on a sick note for me, literally! I have spent most of the last eight weeks, that have passed this year, switching from a combination of medication to another. I don’t remember the last time I was sick for nearly two months.
However, I made the most of my situation by reading and completing some of the half-read books. And, the most significant takeaway was one particular book that touched upon the emotional roller coaster life of entrepreneurs – Failing to Succeed – The story of India’s first e-commerce company.
K Vaitheeswaran, the author of this book, is widely hailed as the father of e-commerce in India. In 1999, he co-founded India’s first e-commerce company Fabmart.com which was later rebranded as Indiaplaza.com. In 2001, he co-founded the Fabmall supermarket chain, which was subsequently acquired by the Aditya Birla Group and re-branded ‘More’ supermarket chain.
All this was happening when Flipkart, Snapdeal and AmazonIndia, the e-commerce giants, were yet to be born.
Entrepreneurial journey is full of uncertainties, and this is the prime reason for the emotional rollercoaster ride entrepreneurs experience on a regular basis. Vaitheeswaran brings out entrepreneurs’ predicament in a candid manner by sharing interesting anecdotes, fears and anxiety he and his team encountered during their journey.
Here are the five lessons for aspiring entrepreneurs from Vaitheeswaran:
1. Be ‘Brupid’: “Any professional-turned-entrepreneur has to be a ‘brupid.” a word coined by combining ‘brave’ and ‘stupid’, says Vaitheeswaran.
2. Several things rolled into one: At least in the early stage of a startup “there are no set roles and responsibilities. Everyone has to do anything, and everything says Vaitheeswaran. Due to lack of resources and fluid nature of startup business founders are several things rolled into one- so if you are mentally prepared to cope with it only then begin this journey.
3. Do it yourself: According to the author, “in a startup, nothing will ever happen unless you do it or make it happen” and “this is the quintessential difference between a corporation and a start-up.’