12 inspirational quotes from Sachin Bansal on how to grow your business
Sachin Bansal and his entrepreneurial story has managed to inspire a whole generation of techies to start up. A tech entrepreneur and an ardent gamer, Bansal is best known for co-founding, India's poster boy of ecommerce.
His time at Flipkart was spread across 11 years, during which he held the positions of the Chief Executive Officer and Executive Chairman at the ecommerce startup. However, in 2018, the entrepreneur left the company post the Walmart-Flipkart deal, which was pegged at $16 billion.
At the time, he held a 5.5 percent stake in the ecommerce startup, which is the main rival of Jeff Bezos-led Amazon in India, which he sold to Walmart. His net worth at the time was $1 billion.
Post his exit from Flipkart, Bansal started BAC Acquisitions along with his friend, Ankit Agarwal, in December 2018 in Bengaluru. He has made several investments in the Indian startup ecosystem through his new venture, which has been renamed as Navi Technologies.
In November 2019, Navi acquired a majority stake in the Chaitanya Rural Intermediation Development Services (CRIDS), a company that runs the micro-finance institution Chaitanya India Fin Credit (CIFCPL). Bansal has invested Rs 739 crore in CRIDS, and following the transaction, he became the new CEO of the firm.
Apart from that Bansal has made a series of investments in several startups such as Ola Cabs, Ather Energy, Unacademy, Inshorts, TeamIndus, among others.
Sachin’s appetite for risk has made him an inspiration for many entrepreneurs in the Indian startup ecosystem.
Here are some inspirational quotes from the former CEO of Flipkart:
“Age doesn’t matter if you have the attitude and drive to succeed.”
"'No' is a very difficult word, and more so in our culture, where people quickly tend to take offence. But a 'no' which makes your business and customer say 'yes' is worth the while."
“A better service is keeping the promise you made to the customer.”
“As a startup, you must go after the money that understands the business.”'
“The core of any business is to earn money. You have not done your job well until you find a stranger who is willing to open his/her wallet to give you money for the services/products that you are offering. The next step after that is to focus on scaling it up well.”
“Don’t start alone, it helps to have a co-founder when things are not going your way.”
“It is no secret that the road to entrepreneurship is a lonely one. Perseverance and hard work are very important.”
“The entrepreneur must go after solving big challenges of our time with a very high-quality understanding of their space.”
“Success has a thousand fathers but failure only belongs to the founders.”
“Nobody can relate to what a founder goes through in the ups and downs of a business. But that’s how it should be. It pushes you beyond your boundaries and helps you grow.”
“You have to constantly pull yourselves out of the minute details, and see whether you are heading in the right direction. If not, change that direction, learn from your mistakes, and move forward.”
“Whatever you do in your personal life will have a huge impact on your business. There is no line in between. You can never switch off.”
"Strategic alignment with funding partners is very important. In the long term, it matters a lot."
(Edited by Suman Singh)