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HT Brunch Game Show: Who’s handling their start-up best?
The one with a 5-year plan, the one who spent the first six months studying the product and market, or the one who has poured her savings into her business?
Udit Vikram Singh, 27, Director, Lightning Realtors (OPC) Pvt. Ltd.
When did your start-up journey begin?
A year and a half ago.
Has it been smooth sailing?
I have no fallback option or a cushion. I have a five-year action plan and I am confident in the idea and the execution.
How big is your team?
In two months, we’ve become a team of 12.
Any plans to scale up?
We are only operating in Noida. We tried to expand in Gurugram, but it didn’t work out. I plan to scale up with the right set of people who have knowledge about the industry.
How stressful is it being your own boss?
Sometimes, the pressure can get to you.
How do you deal with stress?
The thing with start-ups is you come into the game knowing that there will be nights when you might regret your decisions. I speak to close friends and go on going on walks first thing in the morning to clear my head.
What do you do for your physical and mental health?
Go for a run early morning to start my day on a positive note.
Anand Kashyap, 45, Co-founder, Beauprty
When did your start-up journey begin?
It was conceived during the pandemic, so a year.
Has it been smooth sailing?
Everything but! We are a bootstrapped start-up with multiple partners from sourcing, production, tech etc.
How big is your team?
We are a team of five, hoping to add another 10-15 in the coming year.
Any plans to scale up?
In the last six months of our ‘controlled launch’, we’ve learnt and fine-tuned our value proposition, understood product expectations etc. We will now scale up based on it.
How stressful is it being your own boss?
It requires self-discipline.
How do you deal with stress?
By focussing on the clarity of our purpose and mission.
What do you do for your physical and mental health?
Follow a diet and workout. I make sure I spend time with loved ones and take mini breaks regularly.
Moksha Hegde, 31, Founder, Moksha
When did your start-up journey begin?
December 2020. We went live in April 2021.
Has it been smooth sailing?
I’ve invested all of my liquid savings into my brand. I haven’t started drawing a salary yet.
How big is your team?
I rely on interns.
Any plans to scale up?
My first agenda is to get more investment to help scale up faster and be able to hire qualified people.
How stressful is it being your own boss?
Extremely. Being able to keep yourself motivated on bad days and also, be able to know when you need a break and are burning out is difficult.
How do you deal with stress?
I have anxiety, so I take a day off when needed.
What do you do for your physical and mental health?
Cycle/walk and take out time for myself every week.
And the winner is…Anand Kashyap
“Don’t be in a hurry to finalise the business plan”
“Anand is doing a good job of developing his business model before scaling up. But remember, understanding the business model will undergo major tweaks every four years,” says Devita Saraf, CEO and Chairman of The Vu Group, who has been an entrepreneur for 15 years now.
She gives a few tips to keep in mind:
• A good business lasts for a minimum of two decades. Don’t be in a hurry to finalise your business plan or spend all your money within the first year. Take time to develop a profitable business model with the right product, customer profile and profitability. • Avoid diluting your equity too soon.
• Blowing up money on impact advertising will only make you lose money and customer trust. • Don’t spend all your money on raw material. Keep at least 40 per cent of it for marketing and distribution. • Make sure you focus on your mental health too.
From HT Brunch, October 29, 2022
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