5. Mistakes are great teachings in disguise

5

Mistakes are great teachings in disguise

The shape and style of business have changed over the years. It no longer requires a big office and team. Sometimes, it is just one mobile application that can get you going. Facebook, Whatsapp, YouTube, Google; they all started at a very low scale. Today, the market is flooded with hundreds of apps catering to various needs. The mobile app business has become saturated to some extent. Yet, there are still innovations making their mark among customers. There is a great scope to introduce apps based on regional languages in India. Many foreign companies are also working to make a foray into the vernacular market. The reason is increasing penetration of smartphones and the availability of cheap data. The competition will ensure that innovations keep improving services at lower rates. Internet data will keep getting cheaper; it may even become free. Many start-ups and application companies, from the Silicon Valley to Bengaluru, are now working on providing better features without internet. Jio took the market by storm by providing cheap data. Its entry proved to be a serious challenge for competitors. This proves how innovation can be disruptive. It should be future-oriented, ahead of what the crowd thinks. But, to do this you will need to understand the crowd first. This is the reason most successful start-ups emanate from smaller experiments. They evolve from past mistakes. The innovations are continuing in the mobile app market. It’s not that taxi apps are not being made after Ola or there are no more food or hotel apps after Zomato and OYO. So many chat apps have made a niche for themselves even after Whatsapp.

This shows there are always new possibilities in the market. App designing companies help start-ups realise these possibilities. 26-year-old Anshul Sharma is our third case study. His story has many valuable lessons. He has also developed an app for the Indian government’s ‘Clean India’ mission. Anshul never had to face poverty. However, his parents could never believe he will be able to establish such a successful business at this age. Anshul started his journey at the age of 20 and had to face early setbacks. Most youths are impatient at this age and this can sometimes break their spirit. Anshul was no exception. He was working to set up his business without an idea about how he will reach the customers. Anshul says he even contemplated suicide at times. This can happen to any youngster who thinks more about outcomes than his or her efforts. App designing certainly requires a large team and Anshul did not have a big investment. He started his company ‘Fluper’ with 2 people. The name was derived from ‘Fluid Performance.’

Anshul’s story has 3 lessons:

• Criticism from near-and-dear ones is normal. They worry about you without knowing the details of what you do. • Don’t be impatient. You cannot succeed merely by thinking.

Skills and understanding of the market are also necessary. • The term business, by definition, means earning money, small or big. Failing in this aspect will discourage you and increase pressure from people around you.

Every start-up should focus on the third point. It’s good to be your boss. People love to flaunt visiting cards with CEO written against their name. All this is useless unless you can make money. Anshul was also not sure where to get customers from. According to him, one can easily find people with technical skills in app designing market. You need to have an equally strong sales team.

Importance of small yet strong team

Anshul understood marketing and app development. But he could not have both aspects alone. He found help in Akanksha and Vinay. The trio took the journey forward together. Akanksha knew sales well while Vinay was adept with technical aspects of web development. It started with web development and soon the business moved towards app development. From 1-2 projects, clients soon began lining up for Fluper. Today it is the top app development company in the UAE. The company has expanded to the UK, Canada, USA and African countries. The company which was finding hard to earn money is now bringing money to India’s coffers. What started from the 3-member team is now a family of 300 employees. Most of them are less than the age of 30. It is easy to win small projects with a small team. Expanding the team is a challenge. You will need more people as the business grows. The same thing happened to Fluper. The core 3-member team found itself lacking in handling HR and accounts. Richa, Anshul’s sister came to their rescue. She was working with another banking organisation at the time. She brought a sound understanding of HR and accounts with her. Anshul recounts how Richa’s addition to the team helped the company pave its way into several international markets.

Five mistakes of my successful start-up

1. Like most humans, Anshul is also afraid of committing mistakes. Yet, his brief life journey has taught him a valuable lesson; mistakes are the greatest teachers. Anshul feels he could have utilised his energy, time and urge to succeed in a far better way, if only he were to do some things differently.

We need to understand that there are only 2 ways of learning2. We are fortunate enough to find a guru. We train and get experience before thinking of starting our own business. 3. We start our work. Learn from others, commit mistakes and

learn from them. It is better to take lessons from others’ follies. 4. Most of us would like the first way. The best way is to have both. Try to start your own business soon after completing a professional course. But, don’t rush merely by imitating others. 5. You need a deep understanding of all aspects of your preferred vocation. It is not only about the product but also HR, sales, marketing and accounts. You can hire professionals. Still, if you don’t have a basic know-how of all these fields, you are on the harder way of learning from own mistakes. One thing is common in all successful companies I have come across; they have never ceased to move forward. Recognising and rectifying your mistakes is the only right way forward. Therefore, mistakes are an essential part of the process for Anshul. He has turned his flaws into a stepping stone. He enumerates 5 main shortcomings which taught him the most: • Doing business under the father’s secure umbrella. • Lack of experience. • Lack of connections. • Lack of consistency. • Preparing plans without a team.

Doing business under the father’s secure umbrella.

Most start-ups being with plenty of dreams and energy. Their proprietors are jittery. They are often under the tutelage of their family or seniors who may not be appreciative of their work. This adds to the pressure of performance in initial phases. Anshul began from the office of his father who has a good knowledge of law and business. But, he had no expertise in app development. Anshul considers it as a shortcoming because it is not necessary to have to the same viewpoint as your father. Parents care and give security. But this safety can turn into

shackles for the mind. Most radical business ideas face opposition beginning from family. It is because parents have never tried the idea and thus find hard to believe that you can do it. Anshul’s father is still a guide to him. But he does not feel that parental pressure. Most importantly, Anshul is now self-assured. He knows if he has come this far, he can certainly find a way ahead. He could gain this confidence only after stepping out of his father’s safety net.

Lack of experience

One needs the family’s protection only for the lack of experience. Anshul had started to plan his business during college days. He had no trading experience. Remember dreaming is not enough, you need necessary experience and skills. In retrospection, Anshul would have liked to start only after spending some more time in learning aspects like sales, marketing and HR. Strategise to minimise setbacks during initial phases. It is time when you are not only low on confidence, but your near-anddear ones also doubt your success. Hurrying to enter a trade could increase make you even more anxious for success. Experience means knowing all facets of your business. These include: • Road map/Paper plan • Branding and promotion • Sales and Marketing • Accounts and HR • Legal knowledge You are prone to setbacks without working on these aspects, no matter how great your idea. It is like making a machine without fixing nut-bolts. You stand to gain from others’ mistakes. It is not always necessary to improve at the cost of your loss.

Lack of contacts

In the world of start-ups, you will often hear the term ‘meet up.’ This implies meeting people associated with other ventures.

Seminars and programmes related to your field are among such opportunities. It is necessary to regularly attend such events and exchange ideas. You can distribute relevant literature for this purpose. This can only happen if you have contacts. This is not difficult if you are ready to step out of the digital world into the real world. While the internet is important to promote your venture, getting to know other individuals and their ideas is also necessary. Anshul considers lack of contacts as his biggest initial lacuna. No monumental feat can be achieved solo. It always takes a team to realise one person’s vision. Anshul recounts how he initially tried to handle marketing, sales and digital platforms on his own instead of adding on experts to his team. While a basic understanding of these aspects is mandatory, one cannot match the skills of an expert professional. Most start-ups are unaware of enough expertise in the market for solving their problems. Contacts come handy while finding work. Promotions and advertisements cannot always match rapport at a personal level. Connecting with people related to your field makes business easier. Moreso, during the initial phases. You get a name for yourself after completing a few projects. Anshul also learnt this truth harder way when winning a contract was difficult due to lack of necessary contacts. The first project came his way only through an acquaintance. This made him realise the importance of meeting new people from relevant fields and developing a chemistry with them.

Lack of consistency.

I feel instability is the biggest impediment in the success of any new vocation. We live in a world where people are doing wonderful things. The problem lies in comparing ourselves with them. Unsolicited counsels or half-baked new business proposals often deviate us from our true goal. Anshul draws a parallel between business and scientific formulas.

Deviating from formulae can substantially alter results. You must remain steadfast on your plans. Changing strategy at every pretext of a new idea could be fickleness of mind. Anshul also had no dearth of advice he never asked for. It was partly because he wasn’t clear about his strategy. In hindsight, Anshul thinks a clearer roadmap would have saved him from many deviations. Focus is the key to success. One must never lose it. Be it family pressure or a string of failures. You must make a clear plan and adhere to it in true earnest. Remember well begun is half done. Begin with a solid plan and persevere to fulfil it.

Preparing plans without a team.

According to Anshul, a right team is mandatory for effective implementation of plans. Even a clear vision, roadmap and expertise will lead nowhere without a capable team. He gave precedence to production only to realise later that a management team was the first requirement. You must take people with a similar vision on board. A successful venture would require people who not only understand your dream but also share it. Building a team is not merely providing jobs and gathering people around you. Anshul fell prey to similar mistakes in the beginning. You must begin with a small, but effective team. It must comprise of people with different skill sets. Anshul gradually learnt that while it is easier to hire app developers or production resources, constituting a core team of team leaders in sales, marketing and accounts needed careful thought. It does not mean favouring people who like you. Their talent and dedication should be the deciding factors. Anshul’s journey was not devoid of mistakes. The important thing is that he turned them into a stepping stone by learning his lessons. He started with a team of 3 members. ‘Today, he leads to 300 professionals. Though he belongs to a technical background, sales are his real strength. He emphasises

the importance of listening to others. He says, “I was trained in computers, but my real talent was sales. One of my seniors understood this and advised me to work on my salesmanship. I took his words seriously. This is how the Fluper began.” “I believe sales is at the core of any business. Any innovation is futile unless you know how to sell it,” Anshul adds. Anshul was an early beginner and embarked on his journey of entrepreneurship with a job. He feels working for others can teach many valuable lessons. The company he worked for had no vision for growth, it had stagnated at a certain point, its promoters were not only overburdening employees but also wasting energy. Anshul used his first job as an opportunity to develop new skills and learn administrative aspects. This is one of the reasons not even a single employee has resigned from Fluper till date. Anshul has inculcated a work culture which encourages each employee to take ownership of the company’s fate.

He emphasises on the following points to remember:

• Be an addict of innovation. It should be your habit, not a necessity. • Keep trying to find solutions to people’s problems. Keep your eyes open to such situations around. You can develop an innovative mind only if you develop an attitude of problemsolving. • Your work must be financially as well as emotionally satisfying. • Visualise where you want your start-up to be after 10-20 years. • Don’t be discouraged if your near-and-dear ones aren’t helpful. Either they don’t understand your idea or they worry too much for you. • Realise that success comes with time. You will its signs right from the outset. Earning profit, howsoever meagre is important. Do not just keep losing money all the time.