New Delhi (India), 15th April 2023: HCL Cofounder Ajai Chowdhry got into a candid conversation and discussed about a myriad of topics discussing his upcoming book ‘Just Aspire’, talking about startups, his journey and mega-success of his startup. He also gave advice to young entrepreneurs ans told them to focus and invest responsibly.
While talking to MoneyControl Ajai Chowdhry was asked what was the biggest startup killer to which he replied, “I think startups getting their hands on easy money is the worst thing that can happen. I have personally witnessed it.”
He shared his personal experience and said, “I was mentoring this beautiful edtech company about a 10 years ago, brilliant company, brilliant guy from IIT Kanpur .And he was doing well with angel money…he was growing… He was far ahead of time. And then what happens is that he got VC money. He started spending like crazy on marketing, he spent he blew up all his money in one year. And that was the end of the company. ”
He further said that business, which has been growing continuously for the past 10 to 15 years, is a catastrophe. Now that earnings are more essential, everyone is aware of this. The cash flow is very crucial. I usually advise salespeople, you know, new businesses, don’t even worry about profits, manage your cash flow. Profits will occur if your cash flow is under control.
He concluded his answer by saying, “you can be successful. And that is the biggest challenge today. Startups are different in the last 10 years. And now everybody’s talking about profitability. So it’s all changing.”
