A startup is all about frugality, doing more with less: IndiQube’s Rishi Das

Entrepreneurship is an exponentially growing field. This is especially the case in India, as an increasing number of startups are leading the way with innovation at their core. At the top of every entrepreneur’s checklist is ensuring the sustainability of their business. The main goal is to ensure absolute scalability and get away from an expiration date.

serial entrepreneur rishidas, co-founder and president of IndiQube seems to have resolved this complication. Founded in 2015, Bangalore-based IndiQube is a managed office space brand offering accessible, affordable and personalized workspaces.

A Tech Sparks 2022India’s most influential startup tech summit, Rishi delivered a keynote address on the theme of “Building Lifetime Startups”.

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At the very beginning, Rishi stated, “Startups don’t have a lifespan, founders do. So the key question is, what do we aim to achieve in the life of a founder so that we can create a lasting startup?” .

Revealing his distinct perspective towards startups, Rishi revealed the similarity between a startup and raising an individual. From an early age, we are accustomed to the concept of discipline, good education, raising a family, developing competencies, and finally building the appropriate value system.

that can be passed on to the next generation. That’s how a startup works, he pointed out.

He said: “Create the right culture and values, and as you go on your journey, build the competencies and capabilities, and train enough people in the company that can take over. It will survive and thrive.”

Rishi emphasized that as a founder, one must reflect on how to ensure that the practices or methodology followed today can continue into the future. Whether or not that continuation is possible makes or breaks the journey of a startup.

Therefore, growth should be a habit and a limited range and maintaining a continuum should be the priority.

He shared: “Many of us today think in a 5-10 year horizon. We don’t understand the power of combining everything. Wealth is generated over generations, so be aware of that. What we are today is not just one function of who we are, it is a function of the opportunity we have had”.

What is there to avoid?

An unsustainable work ethic.

Rishi said: “When people raise money, multiple times, they just start spending. They don’t think about whether it’s really sustainable or necessary. A start-up is very much about frugality: doing more with less.”

“Also, there have to be certain red lines that one has to follow. For example, in our case, if someone comes and says they have another offer letter, take it or leave it. With those people, our strategy is very simple: it’s not a matter of if, it’s a matter of when. So if we have such mercenaries on board, we generally try to get them out as soon as possible. So doing the right thing, in the right way is very important. Try not to take shortcuts as much as you can “, he added.

Following the rat race is never the answer, and the same is true of fundraising and managing the capital raised.

Rishi said, “You should never raise money for the sake of raising money. With venture capital or private equity money comes a lot of responsibilities. You shouldn’t increase your spending just because you’ve raised money.”

“You don’t have to be the darling of the VC world. If there are one or two VCs who believe in your idea and are willing to back you, that’s good enough. You have to choose between being rich or famous,” he said. additional.

The startup mantra

The crow’s movements are the duck’s meditation, and the dog’s sleep is the same.

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Rishi asks us to note that this Sanskrit note applies to all founders.

“[As a founder] you need to have the perseverance of a crow, the concentration of a crane, the attention of a dog, even when you sleep. You need to do more with less and lead a godly life.”

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