Like Henry Drummond so famously said, no man can become a saint in his sleep. It takes a lot of hard work and a lot of investment to build a business of any size
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| Krishna Kumar |
The startup costs are around 2 lakhs and the business can be worth billions of dollars in three years. During these three years, you need to invest less than a crore. Cash is easy to come... In short, it’s the idea that matters; not other considerations such as connections and money. If it clicks, it’s easy to get everything else; and you need only a small amount to see if it clicks...” It was with a sickening sense of déjà-vu that I read these lines.
Every day we get many letters from entrepreneurs and want-to-be entrepreneurs sharing their dreams or otherwise asking for help. But this one had me thinking. I had assumed that the crazy days of the dotcom boom were firmly behind us. Apparently not yet!
Those of you harboring ideas along the lines above, please pause. You are on a wild goose chase. Businesses just cannot be built like this. If they could have been, then the dotcom bust would not have happened; then every one of us would have been billionaire many times over.
In the days before the bust, amazon.com used to be the favorite example of those who argued that such businesses were possible. I still remember sitting with a very senior IT professional. His case was that Amazon was run from a basement with under ten people! It did not require too much of detective work to ferret out the truth. Amazon’s annual report gave us the figures – 9,000 employees and 2,85,000 square feet of distribution centers in the year 2000!
Like Henry Drummond so famously said, no man can become a saint in his sleep. It takes a lot of hard work and a lot of investment to build a business of any size.
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