Source | The Economic Times
Reid Hoffman, executive chairman of LinkedIn, has famously said, “An entrepreneur is someone who jumps off a cliff and builds a plane on his way down.” I doubt there has been a better metaphor for building a startup. On the one hand, this sounds fascinating. But, on the other, how do you know if you are jumping into a plane that’s going down, burning up or running out of fuel? How do you know if the captain has gone rogue?
There has been much fanfare around the fact that India is now the third largest startup centre in the world. One report put the number of startups at 4,200, another at 19,000. Investors across the globe are bringing their money into India. We have seen investment from China, Japan, US, Russia and more.
And that trend isn’t changing anytime soon, as witnessed by the joy surrounding the news of Y Combinator coming to India. In the same breath, I want to highlight this. More than 18 startups have shut since 2016. There has been news of educational institutions blacklisting startups for cancelled offers or failure to honour contracts.
But you want to work at a startup. The experience is awesome, a few say. The journey can be rewarding financially, some others say. Oh and it’s cool, with all the fancy digs and all. How do you make this an opportunity of a lifetime, rather than a landmine you walked into unknowingly?