Vamshi Reddy's learnings on being a first time entrepreneurial success
So how does a first timeentrepreneur find success?Learnings from the Apalya StoryBy Vamshi Reddy, Co-founder,Apalya
Entrepreneurship is like the journey that acaterpillar goes through before becoming abutterfly
It is a long and tough journey, and the only way tosucceed is to persist. Along the way, there will bea lot of distractions and opportunities. It is up tothe entrepreneur to focus on what he/she startedthe venture for.In Apalyas case, it was about sticking to buildinga product company, even if it meant that they hadto forego lucrative services deals.
Vamshi shared thathe would often stay inplaces like Gurgaon, inhopes of getting tospeak to a potentialclients. He says,“Acquiring customersis very difficult. Dowhatever it takes toget them, even if itmeans standing attheir doorsteps.”
Sometimes,investors might notalign with yourbusiness and mightreject you. Dont bebogged down bythese rejection. Youmust go on.
In the process, anentrepreneur must beready to go without asalary for a long time.While doing so, dontpity yourself for it.Vamshi says, “After all,you are working foryourself. Even today, Itake a much lessersalary than what someof my senior managerstake at the company.”
Vamshi believes that prudence is another key tosuccess for an entrepreneur.He says, “You need money to grow. For someone toput money into your venture, he/she needs to seevalue in it.”“Even if someone puts 1000 Rs in your business,remember to provide as much value to that person.To provide that, you must be absolutely prudent.”“Be as lean as you can be and count every pennythat youre spending.”
Vamshi shared that they had underestimated thetime that it would take for market to be ready fortheir product. They faced a lot of problems.However, Vamshi is glad that they had to gothrough this time.He says, “If you dont hit a low, you will neverknow how to run a business. That period reallystretched us, but we learned a lot about the spacethat we were in and were better prepared the nexttime round.”
The last man standing,wins.“Right now, weretrying to build aproduct that is goingto be the NetFlix ofIndia. Lots ofchallenges, but weare going to to do it.”“A lot of people aretrying to do it, but wewill persist.”
When asked if hecould go back intime, what wouldhe change,Vamshi said,“Only thing Iwould change isstart about 15years earlier, assoon as I cameout of college.”#respect.