‘Focus on getting the business model right’

Start-up businesses need to concentrate on getting the business model right and focus on competitiveness rather than worry about capital, according to K Ramakrishnan, Managing Director, Spark Capital Advisors India.

In recent years “money more often chases opportunities” and there are a number of investors looking at investment avenues. Even the government has set aside over ₹10,000 crore to fund start-ups. Just fine tune the business and make it competitive “funding will not torpedo the process” for a start up, he assured entrepreneurs at a conference on innovative and sustainable entrepreneurship organised by the Confederation of Indian Industry.

At a conference on innovative and sustainable entrepreneurship organised by the Confederation of Indian Industry, he said competitiveness is key as “return on capital is sacred” to the investors, in response to a query from a participant.

Anmol Vij, Director, KeyMind Learning India Pvt Ltd and Co Founder and COO, ShopsUP, said entrepreneurs can draw venture capitalists and investors rather than go after them. The trick is to put together a great business model, the right partner and team on board. Even VCs face competition and are looking for the right opportunity.

Entrepreneurs should focus on building the business. It is important they do not just “make a presentation but provide a problem solving proposition,” he said.

V Sridhar, Partner, Grant Thornton India, said getting a bankable business concept, a mentor, a good and housekeeping and governance are key issues that start-ups face.

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