5 Engineers who founded their own successful startups, and what they did differently
India produces more than a million engineers every year. Most of them dream of landing a cushy job with a large multinational firm and earning a fat paycheck. A few consider entrepreneurship, even though starting a business comes with an element of risk. Even fewer dare to actually take the plunge and make a success of it.
Starting a business may be easy but making it successful is another thing altogether. Facing new challenges daily and putting in long hours are part of the entrepreneur journey. You need to have vision, passion, and tenacity. Not just that, you also need to be adaptable and have confidence in yourself to be successful.
So what does it take to build a successful business from scratch? Here are the stories of five engineers-turned-entrepreneurs and what they did differently that has earned them global recognition.
Sachin Bansal, Flipkart
Sachin Bansal needs no introduction. He is the poster boy who has transformed the e-commerce landscape of India. Sachin met Binny Bansal at IIT Delhi when they were students, and they later worked at Amazon together. E-commerce in India was in its infancy when Sachin and Binny quit Amazon to start Flipkart. Indians were not comfortable with the concept of online shopping, so this venture was a huge risk. But they believed in their dream and were willing to work hard. Flipkart has now been acquired by Walmart for a whopping $16 billion.
Bhavish Aggarwal, Ola
Bhavish is a graduate from IIT Bombay. An entrepreneur at heart, he initially worked with Microsoft but quit after two years to start his own travel and tourism business. But a bad experience one day while renting a cab made him see the opportunity in starting a cab rental company for people facing similar issues. Like a true entrepreneur he had vision, and saw opportunities everywhere. That’s how he started Ola Cabs – to simply fulfil a need – and over time he’s taken the company to even greater heights.
Vijay Shekhar Sharma, Paytm
Vijay is an alumnus of the Delhi College of Engineering. He comes from a modest background and faced a lot of difficulties in college as he wasn’t fluent in English. To make things worse, he was cheated by his partners in a previous venture and incurred huge debts as a result. But he did not give up. His resilience and tenacity made him start One97, the company behind the brand Paytm. The gamble paid off. Today Paytm has become so well-known that even Warren Buffet is investing in the company.
Deepinder Goyal, Zomato
Deepinder Goyal, a graduate from IIT Delhi, was working with Bain and Company when he noticed his colleagues spending a lot of time and effort going through different restaurant menus to order lunch. He then got the idea to collect and scan restaurant menus and upload them on a website that he created with his colleague Pankaj Chaddah, also an IIT Delhi graduate. The company faced some setbacks initially but being able to adapt to changes and challenges helped Deepinder get it back on track to making profits.
Richa Kar, Zivame
An engineer from BITS Pilani, Richa was working for SAP in the US handling an assignment for Victoria’s Secret when she realised that women in India did not have the same access to quality lingerie brands like they did abroad. It is not easy selling lingerie in India and Richa faced many challenges when she decided to start Zivame. Her own mother was embarrassed by the idea, but Richa’s strong sense of self and determination kept her motivated to continue. Today, the company she founded is valued at more than Rs 600 crore.
It is important for entrepreneurs to have the traits mentioned in the cases mentioned above, but there are two additional very important factors to make your startup successful. One is having the necessary funds, which is vital for taking your business to the next level. Finally, having the right kind of support and tools at your disposal will definitely make things easier.
HDFC Bank has a wide range of offerings so you can stay focused on growing your business. It offers business loans of up to Rs 50 lakh. Tailor-made to meet your unique business needs, these loans come with a host of benefits such as quick disbursal within 48 hours*, waivers on collateral or guarantor, overdraft facility, and flexible tenure options. You can also transfer an existing business loan and avail of lower EMIs.
SmartUp by HDFC Bank is a one-stop shop offering custom banking products that help you nurture and grow your startup. These include financial tools, smart advisory services, and facilities such as current accounts, salary accounts, collection services, mentoring programs, marketing services, and much more.
So, regardless of whether you have just launched your startup or have moved ahead in your entrepreneurial journey, HDFC Bank has a smart solution for you!