Failed Start-ups
I've always had entrepreneurial bug in me. I am well trained by my parents to know failure is the only stepping
stone.
As said by Sir Kumar Manglam Birla
“Failure is not fatal, it's inevitable. If you don't fail, it perhaps means you aren't taking enough risks”
I didn't do any internship in 1st year and mid 2nd year of my college.
I learnt from 2 startups that I failed in.
- Quick-It view designs
- Start-up is a full time job when you haven't even started.
- Team above all
- Financial in detail modelling is prerequisite to start.
- Plan HAS TO BE ON PAPER
- Converting Bagasse into Energy
- Do a through research about operations and technology of the field you want to enter
- It's good to be excited and take many steps quickly but I should have plan A, B, C………….Z always ready.
I had a vision to develop an app that would help people bypass traffic by travelling on two wheelers and make them reach quicker, hence the name quick it.
I had also identified that queers do not have enough job opportunities so I had attempted to integrate the same in my app.
I had printed my cards and was in talks with IT vendor, we had created a model for revenue too.
I failed to execute this project due to several reasons one of them being I didn't manage to give time as
I had to study too and I didn't create teamwork.
I hadn't named this start-up yet.
I live in Mumbai where sugarcane juice is just WOW!
These sugarcane juice vendors produce tons of waste (known as bagasse) daily which is then put in dumping
ground.
I wanted to solve the problem of landfills by contributing in efficient use of bagasse.
I researched and met the chief engineer of waste management at BMC and presented my solution of
transporting this waste to sugar producing factories that had technology to convert this waste into
energy.
BMC readily agreed.
I had to now figure out how to transport bagasse to factories in North-East India.
I didn't figure out the logistics.
Then I thought what if I could set factory here? Which of course turned out expensive.