Beyond funding: Ankur Warikoo's hacks for entrepreneurs

Entrepreneurship is the most brutal form of self-discovery, said entrepreneur, author and content wiz, Ankur Warikoo.

Taking the stage at the 14th edition of YourStory’s flagship event TechSparks 2023, Warikoo said entrepreneurship is a difficult journey, although it sounds glamorous from the outside.

Warikoo, who has worked in the corporate world and also built two startups, Nearbuy and Groupon India, has more than a decade of experience in the startup ecosystem. He is currently bootstrapping a startup.

The creator and author observed that not much is shared or discussed in the startup world, beyond funding and unicorn status.

“All that is discussed are funding rounds, exits, layoffs, and getting the unicorn status,” said Warikoo. However, entrepreneurship is beyond that.

"It is the most brutal form of self-discovery. As glamorous it may sound from outside, it is difficult," he told a room full of founders and aspiring entrepreneurs.

In an attempt to have an 'honest' discussion and spill the secret to getting ‘epic sh*t’ done, the content wiz shared three hacks with entrepreneurs.

Building the right culture 

Warikoo emphasised that staying true to oneself is the key to building the right culture.

“The culture of your organisation is the same as your culture as a person, and there are no two ways to that,” he said.

“If you’re a founder whose culture is aligned with who you are, you are going to succeed. Don’t force yourself to become somebody you’d hate working for,” he explained. 

Build a support system of founders 

The seasoned entrepreneur believes that only an entrepreneur truly understands the challenge of another, and they should build a support system that other entrepreneurs can lean on in challenging times. 

“I wish the show-off stature was not there. Everybody has it hard and the biggest thing you can do as a founder is stop competing with other founders,” he said.

Define your own success 

As an entrepreneur, one should define their own success, and question why they believe a particular metric is a success measure for them.

“Everyone around you is not going to buy what you do. They buy ‘why’ you do what you do,” said Warikoo.

He emphasised that entrepreneurs should remember what made them plunge into the entrepreneurial journey–to make money, innovate, or build a place everyone wants to come to.

“Do not let anyone pollute that vision, everything else is alien,” he pointed out. 

He also advised entrepreneurs to recognise every social construct that they have been fed with, introspect its meaning, and question it.

“That will only happen when you sit with yourself,” Warikoo concluded.