Demand high for owners of failed start-up firms

Hyderabad: For entrepreneurs whose start-up firms have failed to survive in the market, the future is not dark anymore. They are being well received in corporate firms and paid higher than their peers who took up jobs straight out of college.

Running a successful business is not an easy task for people who come with less entrepreneurial experience or resources. Almost 90 per cent of start-ups fail within the first three years of establishment due to lack of fund flow, innovation and marketability.

Many unsuccessful entrepreneurs take a break from the grind when they find that the solution is not viable and opt for jobs at multi-national companies. Big corporate companies are absorbing such persons as they have endured the tough side of the business.

Mr Manoj Surya, who had to shut down his start-up Zenty in Hyderabad, said: “I was apprehensive about taking up a job as I had doubts whether I would be able to fit in or not. But later I realised that it was much easier for entrepreneurs to play these roles. Employers do not look at us as failed entrepreneurs. They consider us as persons with multiple abilities.”

Mr Surya, who currently leads a team at Way2On-line, is developing a product named 10X for business firms. He said the entrepreneurs are paid more than what the MBA graduates from the best of the business schools are paid.

Mr Varun Akhnoor, who took up many jobs after his start-up was acquired by a bigger company, said, “The current demand is to have an entrepreneurial mindset. Every big company wants an employee who can think like an entrepreneur. When we are running an incubation centre, we need to keep our entrepreneurial hats on in whatever job we are doing. Entrepreneurship is a skill which cannot be taught and has to be acquired.” Mr Akhnoor is working as an incubation manager at We-Hub.

Industry experts are of the view that such candidates bring in creative ways of performing in a particular role and hold the experience of doing something with minimal or no resources for the most part.

Mr Vikram Vuppala, founder and CEO of NephroPlus, said recently, “Learning from start-up cycle is five to 10 times more than what a person gains from the corporate world, especially if he has gone through ups and downs. Many start-ups fail but the founders gain the experience of playing multiple roles. That is why corporate firms like to hire entrepreneurs.”

Startup owners who dive deep into it are dynamic and have the ability to multitask. Even if there is a hard stop, they quickly move on and are more customer-oriented.

Ms Deepthi Ravula, the CEO of We-Hub who has hired several former entrepreneurs, said, “Entrepreneurs are often more open to taking risks and bring in creativity. Several companies yearn for employees with entrepreneurial skills and mindsets. Former entrepreneurs are highly valued as they question the status quo. Such employees accept failures as learning steps and do not go into despair. They understand both management perspective and technical details.”