New Delhi: Edelweiss Mutual Fund’s chief executive, Radhika Gupta, recently spoke on the rising “startup romance” trend that has gained quite a popularity among aspiring entrepreneurs in India. She pointed out in her social media posts that the glamorous image of startup life hides the tough realities faced by those in the industry.
The Fantasy of Startup Life
Gupta condemned the “startup romance” for the idealistic picture it depicts of running a business. This often paints a picture of cool co-working spaces, casual dress, and brainstorming that makes it look easy. However, Gupta warned entrepreneurs against this dreamy image and said, “Don’t fall for it.” Truth is much tougher, she explained some of the real challenges entrepreneurs face.
Here’s what Gupta refers to as “startup reality”:
Hard Work: It’s really tough to turn an idea into a real business and face so many problems.
Tight Budgets: Many startups have to work with limited money, which might hold them back.
Tough Working Conditions: Founders often have to deal with poor work environments that hurt their productivity and mood.
Constant Rejections: Entrepreneurs face so many “no’s” from investors and customers.
Hiring challenges: Hiring quality employees has become really tough in today’s competitive market.
Pressure to earn revenue: Revenue generation at the earliest time possible does have immense pressure, that might make someone take really bad decisions at times.
Uncertainty: Many start-ups do not know if or when they will ever generate a profit.
Gupta’s words resonate with the plight of most entrepreneurs. She said that although success stories are heard and read, they are only a tiny fraction of the overall scenario. Failures outnumber success stories.
Struggle in Real Life:
Dhruv Suyamprakasam, co-founder of iCliniq, echoed Gupta’s words by sharing his own arduous journey. He moved to Bengaluru, hoping it would be the perfect place to grow his startup, but soon discovered that investors were not interested in investing in him because he didn’t have the “right” background, for example, coming from an IIT or speaking Hindi. He also realized that the culture of Bengaluru expects businesses to either grow rapidly or fail fast. It was hard for his healthcare startup, which required trust and patience.
Suyamprakasam’s experience is a good example of how much pressure entrepreneurs face. He says that investors always have unrealistic expectations, like receiving 100 paid consultations in a day overnight.
