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Zomato Chief Executive Officer Deepinder Goyal on Monday advised entrepreneurs to build their dream companies guided by passion and drive, saying it is not a good idea to start a venture with only the intention of making money. He warned that this could lead to “bad governance demands”.
Speaking at the Startup Mahakumbh event, Goyal spoke candidly about how his company likes to remain paranoid to stay ahead of the game. He insisted that we should never be complacent at any point.
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“I’ve seen a lot of founders start a lot of companies, and when I ask them why they started this company, the answer is ‘I want to make more money’…I don’t think it’s going to work. I think that leads to calls for bad governance…that’s not what companies are set up for,” he said while speaking to a packed room.
He advises aspiring and new entrepreneurs: “You should be passionate about something and be willing to risk your life for it. Only then can you build the company of your dreams.” he advised.
“This is my only advice… Don’t do it for money, do it with passion,” he said during a hearth conversation with Sanjeev Bikhchandani, founder of Info Edge Told.
Mr. Bikchandani advised entrepreneurs and start-ups to be frugal, pragmatic and always stay connected to the market and consumers.
Goyal emphasized that continuous innovation is “essential” for companies, as without innovation no business model can survive for more than 10 to 20 years.
He also said people who start companies and turn entrepreneurs with the aim of being “comfortable” and “happy” are making the “wrong choice”.
“To be successful, you have to learn how to deal with stress. The only way to lose is to quit…If you can survive, you will win,” he argued.
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