Startup mantras from NASSCOM - CIOL News Reports

BANGALORE: Pandavas had victory over Kauravas and its was the insightful inputs of Krishna that led to victory. And it was this Krishna aspect that dominated the session “Krishna and Arjuna: The role of Mentors/Advisors in startups” at the NASSCOM Product Enclave and Expo 2009 here today.

The session, aimed at startups, enlightened the budding entrepreneurs with new ideas and advices to be considered while venturing into a business venture.

Today's small and young teams are no less determined to win. But all too often flounder or stagnate.

Most of the reasons for the stagnation of the business is the lack of capital, as most entrepreneurs seems to think. But the panelist here proved it right that the major reasons for this floundering are lack of clear planning, proper management skills and extremity factors like over spending or less spending.

Moderated by Sanjay Anandaram, managing director, Jumpstartup Fund Advisors, the session saw eminent panelists including Manjunath M. Gowda, CEO, S7 Software; Ajay Shankar Sharma, CEO, Srishti Software; Baskar S, CEO, Amagi; Phanindra Sama, CEO, Redbus; Shekar Nair, CEO, Elina Networks sharing their success mantras for the entrepreneurs.

The panelists observed that many start-ups fail to write success stories because quite often they are afraid of seeking for advisors and mentors. Often people have invested their money or career in starting a new venture or joining a micro and small medium enterprises (MSME) against the general advice of their trusted friends or family members. That induces them to lie low and nurture their enterprise or business in silence.

They added that a start up would be successful only if it has good foundation. A good foundation is a mixture of good advisors or mentors, honest teams and perfect resources. Following a particular time frame, distilling ideas and chaos are major key points in the success of a start up.

The success parameters focus on financial success, operational excellence and the sustainability factor of the venture.

When asked about the role of advisors in today's scenario, Manjunath Gowda said, “Good business minded people who want success at first opportunity itself, instead of trials, often check out with others. And cross checking or consultation is the most popular way. Getting used to checking out with the same set of friends is very common.”

He added that with business and work life scenarios moving too fast with contradictions, chaos and disruption - mainly due to either eco system or too many actors in the episode being un- dependable - they get into doubt mode and deserve a cross check.

The session concluded by mentioning that the start up would only see success if it is left to the honest and has a dedicated urge.

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