“I think the old mentality of building a legacy out of business is anyway over. So one should basically look at business as creating something which is generating some value for the society, and hence you make money out of that. And the minute you are not adding that much value to the business, you have to step out.”
quote is from the automated transcript, cleaned for reading:
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More from Pawan Raj Kumar
Insight
Kumar: Founders must stick to their vision rather than pivoting for investors
“Once you start a business and you've got some passion and some, got some inspiration behind it, you have to stick it out for a while. And you have to prove it to yourself that it works or doesn't work more than Following what somebody else says, especially the…”
Pawan Raj KumarSep 14, 2019▶ 5:01100x Entrepreneur | Episode 12 | Pawan Raj Kumar, Angel Investor and Founder Supa Foods
Insight
Kumar: Founders must never treat their startup as a family member
“Somewhere making your business, your family, Or like a family member. That is wrong. And that's where I would draw a line. So you do not fall in love with something that you cannot detach from.”
Pawan Raj KumarSep 14, 2019▶ 18:28100x Entrepreneur | Episode 12 | Pawan Raj Kumar, Angel Investor and Founder Supa Foods
Insight
Kumar: Founders must step aside when passion stops growing the business
“There is a time when an entrepreneur's passion cannot grow the business anymore. You need either professionals to come and run your business. So you need to take a back step. You should be ready to do that.”
Pawan Raj KumarSep 14, 2019▶ 15:59100x Entrepreneur | Episode 12 | Pawan Raj Kumar, Angel Investor and Founder Supa Foods
Insight
Kumar: Startup outcomes depend strictly on market size and focus, not passion
“Where people succeeded or failed was about the size of the market that they were actually trying to get to. And second was the focus.”
Pawan Raj KumarSep 14, 2019▶ 26:24100x Entrepreneur | Episode 12 | Pawan Raj Kumar, Angel Investor and Founder Supa Foods
Insight
Kumar: Founders waste money pivoting based on non-investing VCs' free advice
“Every investor gives some kind of a guidance without investing. So they would change their path. They would do things and wasted a lot of time and money doing that.”
Pawan Raj KumarSep 14, 2019▶ 28:09100x Entrepreneur | Episode 12 | Pawan Raj Kumar, Angel Investor and Founder Supa Foods
Insight
Kumar: Businesses driven purely by discounts lack value creation
“If I am a salesman of discounts, then it's not a business I want to be in because I wasn't adding any more value.”
Pawan Raj KumarSep 14, 2019▶ 6:54100x Entrepreneur | Episode 12 | Pawan Raj Kumar, Angel Investor and Founder Supa Foods
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