The instructions then, for Round Two were to judge the twenty six who made it through the elims out of the two hundred fifty odd who had initially applied. Not only were we to judge but also mentor and that’s a bit of a trick. Only twelve will make the grade this time, and move on to Round Three.
Amol and I were with a leading captain of industry, and an authority on the Startup ecosystem, just this past Monday, and the discussion centred around the rather vexatious subject. We discussed Scale challenges, operational challenges, skill challenges. We also discussed specifics about how certain well-known Private Equity, Venture Capital firms were struggling, and were facing serious challenges in finding viable exits or the ability to cash out.
Startup success sin’t measured purely in terms of funds invested. The Punt or the exit isn’t the measure of success, Profits are.
That was not to be, and instead, despite my considerable stints with considerable and financially sound national and international corporations, in seniormost roles, both in India and four continents, I would still continue to deal with businesses, with roles and assignments, that all had in some way, shape or form, “startup” as the central pivots of the roles that I played
Having seen failure myself, and having seen others around me fail, its given me a deep perspective on what not to do, how not to do it, and when not to do it.
Statistically, the failure rate of Startups far exceeds the rate of success. Pity then that not much is really said of startups that fail, why they fail, how they fail. In their failure, complicit are the ones promoting the startups, the ones who fund them, the ones who value them, the ones who deal with them and the ones who run them.