Kunal Bahl’s golden advice to #Startup India: Don’t let negative comments from people bog you down. Just do what you believe in is right

Kunal Bahl, CEO and co-founder of Snapdeal discussed everything under the sun at the Startup India event and we couldn’t be more glad. It’s not everyday you hear the CEO of one of India’s most successful startup be as candid as he can.

Bahl was part of the panel discussion on ‘Unleashing Entrepreneurship and Innovation: What do Indian Startups need to grow and prosper?’ and here’s a breakdown of what he said:

On the biggest challenge faced by Snapdeal:
Looking at how successful Snapdeal is at the moment, it’s hard to imagine that they too had their fair share of hiccups, but Bahl clears the air and reveals the biggest challenge faced by Snapdeal.

“The biggest challenge a startup like us faces is to get the right team member in early days who’ll stick through the tough times of the company. You need to convince them that the ups and downs are going to be worth it. That’s the difficult part.”

On how can a startup get its first 100 customers:
Kunal Bahl had a very interesting answer for this query.

“The only way to do that is to meet people who could be your customers and ask them what they need. You figure out what is the real problem you’ve to solve and work backwards. We realized that 90% of India buys items from these local sellers who don’t have the tech base to advertise online. And, that’s where we came in. We wanted ti solve the problems of connecting small local sellers to the consumers who might not have easy access to them.”

On competition:
When Bahl was asked how he felt on coming to know that there’s a new kid on the block in the same sector as them, this is what Bahl replied
“You need competition to make you work on your toes, make you work harder, make you lose and times and fail horribly so you can get back in the game and work even harder. No one company can make a particular sector successful or exciting. You need multiple players.”

On retaining early employees:
Bahl was asked whether economic incentives are all it takes to retain early employees. He however didn’t think so.

“I’ve never felt that economic incentives have been enough to retain people who matter in your company. The people who’re working with you side by side and as hard as you are doing it for the same reason as you- to make an impact. As long as you make them feel important, you’ll never lose them. Giving them equity is just an added bonus.”

Kunal Bahl’s advice to young entrepreneurs
It’s important to remember that no startup makes a profit on the first day or first week of its existence.

“If you believe in what you’re doing, and solving a problem even for five people, it’s good enough to pursue for some time. Don’t let comments from people bog you down.”

Image credit: Indiatimes