ARISE, AWAKE THE INSPIRING STORIES OF YOUNG ENTREPRENEURS WHO GRADUATED FROM COLLEGE INTO A BUSINESS OF THEIR OWN by RASHMI BANSAL

Author:RASHMI BANSAL [BANSAL, RASHMI]
Language: ara
Format: epub
Published: 2015-01-20T05:00:00+00:00

* EBITDA = Earnings Before Interest, Taxes, Depreciation and Amortisation.

** EBITDA = Earnings Before Interest, Taxes, Depreciation and Amortisation.

*** Framebench was earlier known as Anaya Labs. It was founded by Rohit Agarwal and Vineet Markan from BITS Pilani.

**** CPM = Cost Per Thousand (M) Impressions, ROI = Return on Investment, CTR = Click Through Rate.

ADVICE TO YOUNG ENTREPRENEURS

We definitely advise starting a venture in college because in those years you have the maximum amount of time and energy to work on something ‘crazy’.

Second thing is, you don’t have that many responsibilities on your shoulders and you have lot of good people around you who are willing to help – your peers, advisors and mentors.

Being a campus startup gives you a head start. We had time to revisit the product again and again without pressure of sales. In those two years, I was paying ₹1000 as my hostel fee for 6 months. Whereas, once you graduate, you have to pay ₹10,000 per month to share a flat.

So starting early, starting in campus is actually a smart thing to do – go for it!

Ankit

If, at 21-22, you have taken the decision to start up, you have shown a hint of maturity. You are consciously taking a decision of not taking up a job.

You have had a flash of genius and found something you can passionately work on. When times are tough, do not think of yourself as a failure or think about failure. Do not think about giving up.

If you are convinced yourself, only then you can convince your parents. Be very frank with them and be firm about your decision.

I would also advise college startups to sign a ‘co-founder agreement’. This would be very useful in case one of the founders decides to suddenly opt out of the company due to family pressure or lure of placements.

Dhruv

One of the things I have seen in myself and the people around me – if you are not self-driven about something, you will give up very easily.

Whatever you are planning, you must enjoy it, no matter if there is a lot of criticism around it or you are struggling with it.

Your single biggest strength is belief in what you are doing, the desire to take a particular idea to the level where me, myself and the larger society is going to be proud of it.

There is a lot of glamour around startups today... it’s easy to create an app, get written about and start feeling, ‘I have made it!’ You are ‘up in the air’ – which is great – but at some point you have to become grounded and practical… you have to build a sustainable business.

Neeraj

College time is the best time to experiment with your life. Make full use of any opportunity in terms of internship and be open to learning as much as possible.

You can use this time to work on your business plan, prepare a demo or a MVP (Minimum Viable Product). And don’t worry about maintaining a high CGPA but just a decent CGPA as a fallback option.

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