Introduction
Embarking on the entrepreneurial journey is often romanticized as a swift path to wealth and success. However, the experiences of IIT Kanpur alumni reveal a more nuanced reality. This article delves into the stories of Harsh Pokharna and Ankush Sachdeva, whose ventures underscore the challenges and triumphs inherent in building startups from the ground up.
Harsh Pokharna: From Corporate Comfort to Startup Struggles
Leaving the Corporate World
Harsh Pokharna, an IIT Kanpur graduate, began his professional career at Flipkart. Motivated by the burgeoning startup culture and the allure of rapid financial gains, he decided to leave his stable position to pursue entrepreneurial ambitions. His initial expectation was to replicate the success stories he observed around him swiftly.
Early Failures and Financial Hardships
The transition was anything but smooth. Over two years, Pokharna experimented with three distinct business ideas, none of which gained traction. These setbacks depleted his savings, compelling him to take up freelancing to sustain himself while he continued to seek viable business opportunities.
Founding OkCredit
In 2017, resilience led him to co-found OkCredit, a digital ledger platform tailored for small businesses. The platform aimed to simplify credit transactions and bookkeeping for micro, small, and medium enterprises (MSMEs) in India. Despite the innovative solution, building OkCredit demanded unwavering dedication and time.
Insights on Startup Realities
Reflecting on his journey, Pokharna emphasized that entrepreneurship is a long-term commitment rather than a shortcut to wealth. He advised aspiring entrepreneurs to engage in startups driven by a genuine desire to solve problems, cautioning against the misconception of immediate success. His experiences highlight the importance of perseverance, strategic planning, and patience in the entrepreneurial realm.
Ankush Sachdeva: Embracing Failure on the Path to Success
The Prelude to Success
Ankush Sachdeva, another IIT Kanpur alumnus, exemplifies resilience in the face of repeated failures. Before achieving success, Sachdeva encountered 17 unsuccessful startup attempts. Each failure served as a learning experience, refining his approach and understanding of the market.
The Birth of ShareChat
In his 18th endeavor, Sachdeva, along with his IITian colleagues Farid Ahsan and Bhanu Singh, founded ShareChat in October 2015. Recognizing the need for a vernacular social media platform, ShareChat was designed to connect users from India’s smaller towns and cities, offering content in 15 regional languages. This focus on linguistic inclusivity addressed a significant gap in the social media landscape, catering to users who found existing platforms linguistically inaccessible.
Achieving Milestones
ShareChat’s user-centric approach resonated with a vast audience, leading to exponential growth. By June 2022, the platform boasted over 350 million monthly active users and achieved a valuation exceeding $5 billion (approximately ₹40,000 crores). This success story underscores the potential of identifying and addressing underserved market needs.
Common Threads: Lessons in Entrepreneurship
Resilience and Perseverance
Both Pokharna and Sachdeva’s journeys highlight the critical role of resilience in entrepreneurship. Their experiences demonstrate that setbacks and failures are integral to the process, offering valuable lessons that pave the way for future success.
Problem-Solving Over Profit Motive
A recurring theme in their narratives is the emphasis on solving real-world problems. Entrepreneurs driven by the desire to address genuine issues are more likely to develop solutions that resonate with their target audience, leading to sustainable success.
Patience and Long-Term Commitment
The notion of overnight success is largely a myth in the startup ecosystem. Building a successful venture requires time, continuous effort, and adaptability. Both entrepreneurs stress the importance of viewing startups as long-term commitments rather than quick-profit schemes.
Conclusion
The entrepreneurial paths of IIT Kanpur graduates Harsh Pokharna and Ankush Sachdeva offer profound insights into the realities of building a startup. Their stories serve as a testament to the importance of resilience, problem-solving, and patience. Aspiring entrepreneurs can draw valuable lessons from their experiences, understanding that while the journey is fraught with challenges, it also holds the promise of meaningful impact and success.
Visualizing the Entrepreneurial Journey
To further illustrate the typical path of an entrepreneur, consider the following flowchart:
Identify a Problem: Spot a real-world issue that needs solving.Develop Initial Idea: Create a business idea to address this problem.Test and Validate Idea: Experiment and gather feedback to see if the idea works.Evaluate Success:
- If Not Successful: Analyze what went wrong, refine the idea, or pivot to a new approach. Then, test again.
- If Successful: Move forward with scaling the business.
Scale the Business: Expand operations, attract more customers, and grow the business.Achieve Sustainable Success: Establish a stable and thriving business over time.