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Entrepreneurs should focus on building a business model that can generate cash before scaling up their businesses, according to Venkatesh Kini, President of Coca-Cola India and South West Asia.
Addressing students from 10 colleges at an event called ‘Start to get started’, held at Loyola College, Kini said that though most of the start-ups get funding to scale up rather quickly, many fail to find a profitable business model.
“Start-ups should stay small till they can build a successful business model that can generate profit before approaching investors for scaling up,” he added.
This not only helps the company retain a majority stake but also leads to higher evaluation and equity, he pointed out, adding: “If not the company will run the risk of losing majority of the shares to the investors.”
The younger generation has the advantage of easy access to information, capital and social media and hence should be able identify ideas that are unfulfilled or have more scope for improvement, Kini further said. Youngsters should be flexible and adapt to changing times, he added.
Entrepreneurs should have the perseverance and ability to alter their ideas with the changing circumstances and times, he said.
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