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“There is no instant nirvana in being a startup!” – Alok on NDTV Profit

 

Alok recently appeared on NDTV Profit’s ‘We Mean Business’. The topic discussed was the ‘Best time to start up’ where he busted some myths…

 

 

A few highlights:

–          Recession is the best time to start a biz

–          Slowing economy doesn’t make a difference to an entrepreneur

–          Only 2-3% ideas get converted into companies

 

Common mistakes:

i) Confusing idea with execution: The belief that the idea itself is the business – the journey is about the execution!

ii) Time period: It takes a good 10 years of perseverance to create a good company. iii) Most entrepreneurs think Startup = Raising Venture Capital. First build something then dream of venture capital

Funding: Startup interest in India is phenomenally high

 

Challenges in starting up in a slowdown (or otherwise):

DO NOT BURN YOUR MONEY! Earn your money before you spend it. (i think that’s awesome marwari advice!)

 

There was a bit of “Mentorship Capitalist role” talk as well. And how Alok would like to provide the 28-35 year old age segment of entrepreneurs with a Bodhi Tree :).

Alok doesn’t want to help startups. He wants to help YOU, START UP!!!

 

For the rest, watch the video!


 

Parting Rodinhood quote…

“If startups preserve humility as their core mantra, they’re not gonna go wrong…”

 

 ******

 

Special thanks to Aman Jha for sharing this link!

 

 ******

 

 

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9 Comments

  1. THANKS A TON ASHA (JI) for packing this together!!!

  2. you’re welcome jee…

  3. This video was the answer I needed all day today.

    First thing when I came to office today – a hiring plan fell through. One of my friends had put in his papers at a big media company two weeks back to join us. Yesterday he spent the entire day in our office. He was excited when he left, so was the rest of my team. I was very happy thinking that the burden of the startup journey will have one more shoulder to carry through – we’ll be stronger by end of the month. 

    Well, today morning he called in and said that he won’t join us – he’s getting too tensed just thinking about it. It’s not his fight – he said.

    It really unsettled me. We had some breakthrough success in the last few months – but finding people to work with has become a massive bottleneck. We either have to find people to work with us, or the growth and momentum dies. I was counting on this guy. I have been almost heartbroken since morning.

    And now I saw Alok reminding us how difficult the journey is. Be humble, be patient, survive the day and keep trying. 

  4. “Preserve Humility as Core Mantra .. Startups are NOT gonna go wrong” !!

    Awesome wisdom…

    Always something new to learn from you..  🙂 

  5. 🙂 been thru that situation 100 times

    in the end, he will regret his cowardice forever ; you wont even remember your bravery

  6. Another great interview filled with practical advice. A lot of people see the glory but not the pain that brought the glory. Reminds me of the quote 

    “Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone.”

    Startup Joke

    Q: Which company should be credited as starting their business from scratch.

    A: Itch Guard.  😛

  7. Never confuse idea with execution.–True.I used to wonder whenever Banks give their advertisements stating-If you have an idea,we will give you loan.Implementation or execution is so much more than an idea.Only with an idea you cannot be an entrepreneur.Proper attitude  at all times is the necessity for an entrepreneurs success.

           

  8.  Only 2-3% ideas get converted into companies and only 2-3% of those companies become successful! 

    So many things in just one video of 5-6 mins, myths busted, advice and idea shared.

    and the best line ‘I don’t want to help startups. I want to help YOU, START UP!!!’

     That is why I called this video a Goldmine! Thanks Asha a lot for including my name in this precious post!

     

  9. Ramanuj, I understand what you are going through. Don’t feel down; whatever happens, happens for good.

    This journey is not for all. Check this “Beta tum rahne do… Tumse na ho payega” piece:

    https://www.therodinhoods.com/forum/topics/i-want-to-be-an-entrepreneur-what-are-the-things-that-are

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