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Nuggets of wisdom from the big basket

September 15, 2016 | Posted by admin << back to blog

The 8th Human Capital Management Conference at the Great Lakes Institute of Management was inaugurated with great aplomb. Speaking at the conference, Mr.Hari Menon, the founder of bigbasket.com, India’s largest e-commerce portals for food and grocery, he shared some invaluable lessons from his journey of serial entrepreneurship over the last sixteen years.

Excerpts from his talk for intrapreneurs, wannapreneurs and budding entrepreneurs –

hari


Don’t raise little money
Raising little money and obsessing over equity will push startups to keep repeating the cycle of looking for investors. Focus of any start-up should be on the business and not on the next round of funding

Chalk out your ‘runway’ before taking off
Before beginning any venture, define a full-fledged plan for a minimum of 3 years. Absence of incisive objective clarity of the future of the venture will lead to failure.

Will over skill
Willingness to learn is more important than skill. Skill can be acquired, will cannot. If not as an entrepreneur, as an intrapreneur too, the will to unlearn and relearn will add more value to the organization and to the employee that adds value.

The ultimate mantra
The ultimate mantra to be a successful start-up is three-fold – Idea. Team. Capital. A compelling idea that solves a problem, a committed team of founders working to execute the idea and adequate capital to enable the execution are the basic things for a successful start-up.

Human Capital Management Conference is a one day conference at Great Lakes Institute of Management, Chennai, with speaker and luminaries from the industry and academia. For live updates on the eighth edition of Human Capital Management Conference, follow the twitter handle @GreatLakes_MBA.

Blog post by Divya S, PGPM 2017

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