India’s first ecommerce company, IndiaPlaza shutdown last year. Started as Fabmall.com, IndiaPlaza was a pioneer in the ecommerce industry (they started CoD way before Flipkart was born), but failed to raise funding to fuel the growth.
In an interview with Mint newspaper, K Vaitheeswaran shares some of the really useful gems for the entpreneurs out there.
“For investors, it is a portfolio. But for an entrepreneur, for me, it is my life. That is a fundamental difference. An investor can write off and do portfolio management. Their portfolio is my life. And that’s a difficult thing to come to terms with—that your life is somebody else’s portfolio.”
“If you know that fund-raising is going to be difficult well in advance, then you try and take certain steps. If you don’t, then it becomes too late and after some time, the whole thing just gets out of control. The collapse happens reasonably quickly after that.”
“I don’t think entrepreneurs ever fail. I think companies fail. We have to differentiate. India lacks that culture. Here, the entrepreneurs are closely associated as the face of their company, that the company’s success or failure is the success or failure of the entrepreneur.”
– Read the insightful interview here.