Practo’s Co-founder Gives Advice to Startups
Bengaluru, India | Red Newswire | Nov 27, 2015 Last Updated at 05:00 PM IST.
The establishment of the company hasn’t been easy for its co-founders, but now Practo has really come up a long way since its inception way back in 2008. Practo now leads the Indian online healthcare industry and is one of the world’s largest online healthcare services provider. Like every entrepreneur learns valuable lessons in the course of their journey, Shashank ND shared his valuable tips for the startups.
(As told to Business Insider)
What would be your advice to people who have just begun their journey as entrepreneurs? What would be your 4 golden rules for them?
First and foremost, focus on deliverables. For any digital start-up there really has to be only 2 focus areas: code and sell. When I enter my office there are just two things on the board: how many lines you have written and how many sales you have made.
Secondly, it is usually things that nobody has done before that will actually work. Be comfortable in doing things the first time.
Thirdly, it’s very important to hire the right people. There would be crude people around, you have to get them and polish them.
And lastly, it is important to lead from the front. As a startup founder, you should be facing your challenges on the field upfront.
The government is pretty gung-ho about the startup ecosystem. Is the ground reality that rosy?
Building a startup is like working on steroids. It is a lot of about how you grow and grow fast. The fundamentals are there that can support a vibrant start-up ecosystem for the next 10-20 years. In India one small idea can become large enough. India is self sustaining in that matter. That is a huge advantage.
India is the hub of start-ups. What changed that led to the growth of the ecosystem?
One of the major changes is the number of internet users that India has seen. Advent of mobile phones and internet has been the reason of the growth of start-ups.
But which means if net neutrality were to be taken away, start-ups would greatly suffer?
Internet has been largely unregulated as it grew so fast. However, we cannot allow net neutrality to go away. Any change in the neutrality of the internet will have a huge impact on startups.
For a start-up how difficult is it to begin with so many Government regulations in place?
While you are just starting you are more worried about what you need to do. But as you grow, regulations affect you. The current government is much more proactive. They have a very healthy attitude towards startups. They look at startups as driving forces in the economy. Startups are no longer neglected. In fact the government is also changing policies for start-ups so they can grow faster. There has also been change in procurement rules that allow startups to compete in a healthy environment. That’s a huge change.
That said, different state governments have different nuances. Generally it is a matter of time and where all states would favour it. Some states have already started like Andhra Pradesh and Telengana. They have made it a lot easier with new rules like single window clearances. Some still need to realise the potential that startups have.
How easy is it to raise funding for a startup?
The most difficult part is the reputation and growth of the company. Growth brings funding but growth should not depend on funding. Ridiculous amount of execution is required for growth of a company.
How long do you want to run Practo?
It is important to build a company for its perpetual existence. It is a need that the world wants a consumer healthcare company and we would love to be that company. I want to run Practo for atleast a hundred years.
Source: Business Insider