‘Wait, keep your earnings going’: Big Basket’s Hari Menon’s advice to future startup founders

Rajesh Sawhney, co-founder, InnerChef, believes the turmoil the startup trade is presently going through within the wake of the coronavirus pandemic could possibly be a ‘perfect launchpad’ for brand new startups. In a current tweet, he stated, “Don’t hold back. This is (the) perfect time to start a new venture, old world order is breaking apart; new consumer habits are emerging. A perfect storm offers a perfect launchpad.”
But not all founders agree with him.

In a current webinar chat with Kalaari Capital MD Vani Kola, Big Basket CEO Hari Menon, stated future entrepreneurs ought to be cautious and wait till the state of affairs is extra underneath management earlier than launching one thing new.

“Say what you will, but capital is critical when you startup,” stated Menon. “You can’t do without it and it’s not going to be easy for next few months. I would sincerely advise to put plans on hold right now. Think, innovate but continue with your jobs. It’s so critical to keep your earnings going, keep your savings going. Every bit of money that you have today you got to make it last.”

For those that have already raised capital and are questioning how to maintain themselves, Menon says the one factor to do is to preserve.

“I think you just need to cut back on everything that non-essential. You can’t afford to look at luxury right now. Whatever you have, if you had planned (for) it to run six months, make sure it runs twelve months or fourteen, fifteen months. That is the only thing they (startup founders) should focus on doing.”

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