The journey is not always smooth. It takes a lot of patience, resilience and good understanding to set it up. Since setting it up successfully is the key, so they go through the hard work and keep toiling. They dream high and work hard to achieve the dream.
Wait, hold on! I am cutting the philosophical aspects and coming straight to the point. Here I am speaking about the entrepreneurs and setting up their start-up. Do you know that after United States and China, India is the third place for start-up’s growth and investment? Bengaluru, the silicon valley of India, is the haven for start-ups. Irrespective of success or failure, start-ups will be coming up. The story of The CoFounder so far has been entirely different. It’s not a normal start-up story but with a twist. All the credits for starting the amazing journey is the mastermind of none other than Mr. Adhish Verma, the CEO and Founder of The CoFounder.
So here are some stunning facts that would baffle anyone, who’s willing to enter the entrepreneurial journey:-
- It’s India’s first of a kind start-up magazine, which solely focuses on the journey of the entrepreneurs, the foundation stone of the start-ups, reasons for start-up failure of a wide variety of topics related to entre/wannabe – preneurs.
- The founder and the co-founder of The CoFounder have not met before, till the time they were there to sign the final paperwork for investment.
- Launched in October 2016, they have already raised the initial seed funding and till date 250,000 plus copies have been distributed across 7 states in India.
- Not only these, but they have partnered with the librarires of 10 IIMs and 7 IITs, also sponsoring 2 major events and reached a whopping subscriber base of more than 10,000.
Everything doesn’t go bad on social networking unless it’s put to a very good use. In the initial stages, Adhish used to write for an online blog called HireStreet and he was desperately looking for someone who could take care of his blog. Facebook came to the aid at the right time, and its this social networking site which introduced Adhish to Arunraj R who was writing something similar. They both collaborated to write for HireStreet and decided together to take it to the next level. Today the next level is labeled as The Co-Founders and is a success they both are celebrating. Hence it’s rightfully said that in this age, “Unless you are networking, you’re not working”.
I got a chance to interview both of them, Mr. Adhish and also Mr. Arunraj R. I feel extremely privileged to get in touch with them. Here’s what they have to say about the questions that I asked. The entire prospect of asking them the questions and getting the final trivia from extremely sharp minded people like them seemed a great way to prosper for my own sake.
- So Adhish and Arunraj, they meet for the first time while signing the papers, throw some light into how the super bonding and trust development?
I believe trust is something which happens without your knowledge; it’s like falling in love. Even before we were working for The Cofounder, we were writing blogs for HireStreet, and we had a good rapport between us. In fact, we are completely opposite to each other, and I believe that’s our strength. Finding a co-founder is similar to finding your soul mate. You have to get someone who is there with you in your ups and downs, good and bad. We happened to find each other to run our family.
- Who came up with the name? The apt name though, how many swaps and switches you people went through unless the name was finalized?
Post searching a lot for a suitable name which Positions the Vision and Value of this platform well we were all stressed out as every suitable name was taken up. One Night I was sitting at my house and thought of amusing myself by just trying to push in random names to check their availability and I punched in “The Cofounder”
To my surprise it was available , I coudnt believe my eyes I searched again and again for 5 times trying to pick out a Definite mistake or an error I was certain I was punching along (The Cofounder cant be available). When I was sure I called up my CA at 3AM asking him to apply for the TM immediately he said hell do it tomorrow .I replied u do it tomorrow and or you’re fired.
He woke up and Did it.
So, indeed It was harder for us to find the name than to get the investment. We want something simple which can relate to startups. After discussing 100s of names, I finally came up The Cofounder.
Our tagline says that “We salute to those who never said no”
- The Indian start-up mindset is more about founding a new thing and quickly taking a step into revenue generation, rather than thinking long time goals. What’s wrong with this that so many start-ups fail?
The time taken for a company to succeed is much shorter than whatever it was 10-15 years back. Today, if you have a good idea, you have to implement and scale it as quick as possible. It’s mainly due to infrastructure, skill, investment and competition that’s available today.
There were a lot of me-too startups in the last couple of years. If an idea seems to be good every entrepreneur wants to grab it. But ultimately customers wants just 1 solution. If I want to order food I just need 1 app, maybe 2 or 3 apps to compare but definitely I don’t need 100s of app. Eventually, only the startup which scaled quickly stays up in the game, rest all dies. Yes! In the longer run the startup which achieves profitability that is the one which stays.
“Entrepreneurship is like Game of Thrones, few get the throne, and others get thrown.”
- Since you have been analyzing the Indian startup situation for a long time, what’s your take on the present situation in India?
The Indian startup ecosystem was in the honeymoon period, and the reality has started hitting. Last year we saw funding slowdown, biggies shutting down and its definitely good sign for startups with solid business plans. Nowadays investors don’t want me-too startup, startups with a thin revenue model, entrepreneurs with a fancy degree, etc. If you have rock solid business plan, ready to pay customers, excellent execution team you get the investment.
Entrepreneurs too have taken a step back and depended on funding only if it’s absolutely necessary. I can see many startups bootstrapping and doing good in the market.
- Considering technological advances, how would you rate the startup growth trajectory and success rate keeping a comparison chart with USA and China?
I am not exactly sure of USA because there are many projections made in the market after Trump has taken over, the real impact may be seen after few months. In terms of the number of startups, investment flowing in, market expansion, etc. India and China are in par. We can see many Chinese investments and expansions happening in India.
- How important is utilizing social media for the start-ups? Do social sites really help in revenue generation?
I believe if your business is not in social media your business doesn’t exist. Social media is an excellent way to reach to your customers, investors, and network with fellow entrepreneurs.
Social sites do help in revenue generation, but which social media helps you that entirely depends on your business. Like Facebook has been an excellent outreach for The Cofounder.
- What is the most vital factor to keep the business alive? Is it diversity or establishing some core values and sticking to it?
First, deliver your core value, and become the market leader in it. Make sure no one apart from you can deliver that value better. In the longer run, you can diversify based on your resource and skill. The path varies based on the business and entrepreneur. E.g. PayTm and FreeCharge started as Mobile Recharge, you can see PayTm has more business models whereas FreeCharge is still sticking to their core business.
After I got to know the answers I was awestruck as how someone could have this vision. Actually yes, this vision is highly important, that far sightedness which sets an entrepreneurial journey into a big company. It is this thing which The Co-Founder have displayed and they are going big afterall. One important thing which I learned is to get going. Obstacles will come and in the end, its upto us as how we overcome.
By now you must have the interest to know more about them and what they do and everything in details, kindly refer to www.thecofounder.in