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The art of the start

Photo: R. Shivaji Rao

Raring to go Shalin Jain, Saloni Malhotra and Yogendra Vasupal

Circa May 2005, Saloni Malhotra, a graduate from a leading college in Pune, embarks on a career with a prominent internet company; an assured future, a good salary, a great working culture and perks mean she has little to complain about.

Move to August 2007, she is in the ninth month of running her own start-up, and is looking at recruiting a workforce.

Her vocabulary has evolved from one with “job satisfaction” and “take home” to one with “boot strapping”, “cost cutting” and “venture capitalist funding.”

Saloni’s is not just a one-off case, she is one amongst an ever-increasing breed that has resisted the lure of a comfortable job, and has instead decided to start a firm. She says: “There comes a time when you feel that urge to start something new, and set out on your own. The toughest decision is to make up your mind and follow that urge.”

Her firm Desicrew Solutions is a rural BPO service which looks at outsourcing tasks such as medical transcription and translation to employees in rural areas such as Vaniyambadi and Mayiladuthurai.

She elaborates on her firm’s positioning: “The big cost associated with such tasks is that of real estate; by outsourcing such work to the rural areas, we are able to bring down costs by 40 to 60 per cent.”

The toughest hurdle, agree most young entrepreneurs, is the beginning. Yogendra Vasupal did not find enough time to concentrate on his start-up and therefore, took the extreme step of quitting college.

Few, however, are as bold. He says, “It’s a confusing phase. You get contradicting signals and points of view from everyone around you. The key is the passion and conviction you have in yourself and your idea.”

Yogendra’s start-up Inasra.com is a website which gives users a platform to book hotel rooms and accommodation in 435 towns and cities across India. It’s not only technology and outsourcing related sectors that entrepreneurs focus their energies on. Some build their dreams on what might seem like the most bizarre ideas. Abhishek Dingra is a case in point. About four years ago, he started a retail chain named “Mr. Pronto.”

His firm repairs bags, shoes and accessories. He has opened four stores in Chennai, and has recently partnered with Reliance Mart to expand his business across the country.

But as many of them would agree, it’s not always rosy. For every successful entrepreneur, there are countless others who have fallen by the wayside. There are many who go back to their day jobs within a year, while there are also those who take a long time to see even the smallest percentage of profit.

The benefits for those who do succeed however are there for all to see. Shalin Jain, is one such example. The Loyola college graduate’s firm, Ten Miles Corporation, which deals with internet-based applications has been profitable right since its inception seven year ago. It outsources tasks such as medical transcriptions and translations to rural areas and cuts costs by 40 to 60 per cent.

So much so, that his products are now being used in over 30 countries across the world. He says: “The best place to experience exponential growth, personally and professionally, is at your own firm.”

This trend is evolving amongst the student community. As Prof. Veeravalli, head of the Entrepreneurship Development Foundation at the Great Lakes Institute of Management says, “The number of students who have enrolled for our entrepreneurship programme has increased from just 15 last year to over 60 this year. This clearly shows a mindset change in students, who are more open to taking risks.”

The support extended to budding entrepreneurs has also increased. Most colleges have entrepreneurship cells which help students focus on their ideas. Student groups such as AIESEC have sustained programmes on entrepreneurship, while there are also independent initiatives such as Proto.in which aim to create a mutually beneficial ecosystem for both entrepreneurs and investors. Does all this lend itself to the beginning of another ‘India Shining’ story? Certainly not.

What it does, however, is show that entrepreneurship is now seen as a serious career choice. And individuals too are ready to multi-task and take on challenges. Yes, it’s time to fly!

SUDHIR SYAL

• Founded Ten Miles Corporation within six months of finishing college

SALONI MALHOTRA

• Quit corporate life to set-up Desicrew Solutions, a rural BPO

YOGENDRA VASUPAL

• Quit college to found Inasra.com

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