14 Failures I made in Entrepreneurship

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by Kshitij Mehra on Friday, December 12, 2014

Section
Society

Session type
Lightning Talk

Technical level
Intermediate

Objective

‘Graveyard is the most richest place in the world because most of the people die with their idea in their heart.’ This statement holds correct because everyone lives with a fear to fail in this country. I want to do my part in the intiative to break the paradigm that “Failure is a curse.” I want to shout out loud about it that it is not by sharing where I have failed miserably in my life. I have failed n no. of times in my life but the objective of this talk is to share 14 major failures I made in my entrepreneruial journey.

Description

Here are my 14 Failures -

  • I asked the wrong person to join my organisation as Co Founder
  • I hired employees with emotions and did not do the ground work on their profile
  • I focussed more on getting an Award for which we were nominated in 2nd year of the establishment which made me loose my focus from work
  • I increased overheads when there was no inflow of money
  • I took money from friends to pay other friends loans
  • I did not save money for rainy days
  • I did not maintain relation ship with the only client I had in 1st year of my organsiation
  • I never met like minded people in the sector where I work for first 2 years
  • I did not take stand by cutting salary of employee for not serving notice period in 2nd year of organisation and on other things where I was supposed to be firm but I became lenient.
  • The paper work of the company like HR Policies, Offer letters, contract with clients was never done for first 3 years of the organisation.
  • I finished my personal life my missing marriages, funerals or other family occassions for which I was supposed to be a part of.
  • I did not give detailed thought on the cost of the product and started charging Rs 10 from students where as the cost was very high.
  • I stopped focussing on Government schools since last 2 years. (this one I realised during Shape South Asia Summit in one of the sessions about Mahatma Gandhi, so I thank Ahmedabad Hub for it)
  • I never differentiated YuvShaala from Kshitij and Kshitij from YuvShaala for first 2 years.

Requirements

a circular sitting format on a beach will be a great place to share this, no furniture required.

Speaker bio

Kshitij has been a confused kid who wanted to be an airforce pilot but never had the courage to tell his parents about it. Then he took non medical and shifted to commerce with in 3 months of taking it. He left his CA after studying it for 5 years and after scoring in exemption in one of the CA Final exams.
He explored his life working for a call centre, a coffee shop, a chemist shop and then finally finding his destiny in education sector. He taught for MBA Entrance examination for 4 years and then started his entrepreneurial journey with YuvShaala.
He tried for almost 5 years to run this company and scale it to next level. In this 5 years time his company saw super ups like being official counsellor for Himachal Pradesh Education Board to super lows of having 10 Rupee in bank account. After 5 years trials he has decided to take a break from it and continute his journey with another startup called IIMJobs. He is leading their mobile domain currently and it has been only a week for now.
He loves travelling, drinking coffee, reading books and talking to people.