Blogger Templates

Saturday, February 23, 2013

0

STARTUP Fuel from Karnika E. Yashwant

Posted in
A startup company or startup is a company or temporary organization designed to search for a repeatable and scalable business model. These companies, generally newly created, are in a phase of development and research for markets. The term became popular internationally during the dot-com bubble when a great number of dot-com companies were founded. Lately, the term startup has been associated mostly with technological ventures designed for high-growth and that is done mostly by youngsters. But there is always a lot of questions associated with it. Time to get our answers by interviewing the success stories of Karnika E. Yashwant(Youngest Entrepreneur, Chief Executive Officer, EnS Groups).



1)How and when do you find an individual making a choice over his career?
Karnika E. Yashwant says "Currently Career and Education are drifting apart. Civil Engineers are in to IT and CS guys are over management. So education really means less right now. Still one's place where career choice is made is based on their degree selection after 12th grade. But the major change can happen anytime in their life. I have seen people quit a job and take a different route all of a sudden in their life.When I hire people, I look into what they can do/skills and their experiences if any. I don't look at their degree. Same goes with many now. So my challenge to you is this: 'Do as you will' - At any point in life. Take a corrective action and make a choice over your career, don't let the career toss you over."

2)Is the individual directed by his aimbition?

 "Looking at most students, they don't have ambition. For most "Goal setting" is just a training session its not for them. No offense, but this is the truth. Very few students hold their ambitions high and their life is more meaningful. Yes, ambitions drive everyone forward, faster, better in the right way. If one does not have it, the environment drives him along. The difference is like a person in the water. If he is good at swimming, he will use the tides and water to his advantage and reach where he wants to go. If not, he will get drowned or die and reach where the water and waves take him to. So my question to you is this: "Do you want to swim and reach where you want to go with some efforts and live? OR do you want to drown or die and settle for mediocre and land where the water and wind takes you at it's mercy?" says Karnika E. Yashwant


3)Is startup a good choice? How does one come up with it initially? Do he require a background?
"Startup is a great thing. Whether is a good choice or not is based on the person who is starting up. Business startup's success rate is 5% or less. And student startup success rate is 2% or less. When you start up a business, be ready to run first 5 years with no money. Yes! You heard me right. Most cases it takes about 5 years to learn and make money out of business. Sometimes soon, but not always. Mostly people don't persist longer than an year or two. Let me tell you this. Businesses can easily make a lot of money when when business owner learns to make. An good example would be this: An graduate in job can start making Rs. 3,00,000 per year. If you spend 5 years, thats about Rs.15,00,000-Rs.20,00,000 including all increments and pay raises if you get there. If you succeed 1 year in business, Rs.20,00,000 is peanuts and you CANNOT NOT succeed if you persist as each and every action has an equal and opposite reaction. If you work harder all day for so many days and gain so much of experience and grow your network for 5 years, there is no way you can end up not making money. Again, its about efforts you put in. 5 years is an average time, most make money by end of an first few months and start making significant money in 2-3 years. BUT be prepared to sacrifice the beginning and be ready to work for 16 hours and longer, business is not a job and job can never supersede business. So the question for this section is this: 'Are you ready to face any hurdle and persist longer than the test duration of the nature?' - If yes, then its a good choice. If no, which is what we will mostly hear or other excuses around that, then better get a job and work for your friend who starts his business today. Its little rude, but that's how it works my friend.



Next part of the question: 'How does one come up with it initially?'

Business is does not go with: 'Okay, Let me do this as this looks easy'. It goes with "I have this idea that can make a difference and let me get this into life" - So do you have an idea? That's where it all begins. Then comes plan, people, action, efforts, time, advice, and a million and one things which you need to gain to succeed. (That's why it takes years before you can taste real success.)

Next part of the question: 'Do he require a background?' - Nope. He will create the background as he works in his business. That's why it needs time. Even a beggar can start his business the next min. Does not need any background or education. I started after my 10th Standard at my age of 14. What background did I have? No idea about business, no idea about money management, no college education as well. What happened? I made millions and made billionaires make more of what they had. So answer to this is a big loud NO." says Karnika E. Yashwant

4)Does startup give him a long stand or make him bankrupt?
"This depends on him again. My last answer answers this question as well. Longer he stands, higher the chances for him to succeed. Being bankrupt is not bad. Most business man has been bankrupt once or twice. When I started my business I did make money from the beginning, but by end of every year I spend all money in different investments which never gave me returns for the first 2-3 years. What does it mean? I went bankrupt 2-3 times, once per year for the first 3 years of my business life despite the fact that I made money every year more than what most could. What did it leave me to? To run a successful venture capital company that manages funds efficiently. So from where do you get a good background? From bad experiences. So to answer your question, here is my question: 'If one startup fails, would you start another and persist?' - If yes, he will long stand, if not, he will stand broke with all glory of failure and empathy." says Karnika E. Yashwant

5)Student startup in india comparing with the globe? Why indian students want to have a foreign registered startup?

"To be frank, I would say quality is less in 98% of the case. 2% is the ratio of great startups. In business I feel there is no Good. Its either Great or Worst, the extremes. Either you can be creative or a copycat. You cannot walk the middle silver line in most cases. So yes, 2% are great business ideas out of which very few comes to life. Most businesses that comes to life in India are of lower quality. Unlike some foreign countries, India Students who startup lacks some essentials like: Integrity, Originality, etc. No offense against Indians, but most mediocre people have been taught and trained to live life like MOST. Where as great ideas and great startups comes from being on the opposite pole of the 'MOST'. So want to be like others or want to be different and be ready to face the arrows and stones initially? I am the latter. What are you?
To answer the 2nd part of the question: 'Why Indian students want to have a foreign registered startup?' - Government's support in most states in India are very less. Gujarat and Karnataka does have some good plans, but most other states don't. Too much of rules and regulations for making pennies while crores can be made without rules and with bribes. That's how we are. While most countries face these issues, I find its too much in India as a developing country. 12.36% of Service Tax for all that you receive. 30% Income Tax on all that your company makes. 30% tax on what you receive from the company as your salary. 10% TDS on all that you pay to anyone, local or global. Money invested in Gold cannot be used for anything else as it becomes Capital Investment. Soon Capital Investments are going to have some tax for cashing out it seems. Well, don't take my words for the above numbers, I suggest you to consult auditor on these as I am not an expert in these, but most money goes to government here where we have less money to reinvest in business which puts our growth into stress. STILL, number of people who register startup out of India is very very less, its not easy either to do it from here without local support." says Karnika E. Yashwant



6)How do you feel about the present scenario regarding startups?
"Present Scenario? As it has always been. 'The Ones who take the right path with right efforts with the right idea and right mindset with right investment of time and cross over the right waiting period finds the right path that gives them the right life, while people who try to find a short way to make cash go right down the drain and end up broke and never grow from there'.


Have an idea? Find resource and get started if you think you can and if you believe you will. If not, pass the idea to someone who you think can make it come to life and get a job under him. I had one of my business this way. The person gave me idea and he joined for a job under the company which I founded based on his idea and let him run it. He made me money with his efforts and his idea happily while making a fixed salary which is peanuts compared to what he makes for me with that business. But if that's what people prefer, there are Entrepreneurs who invite even that." says Karnika E. Yashwant


That was some energizing fuel from Karnika E. Yashwant(Youngest Entrepreneur, Chief Executive Officer, EnS Groups) that will kindle every startup ideas. If you have a startup(scale, pilot or implemented) with a mind-blowing experience/idea then do share it with us.

0 comments: