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Take Risks : An Entrepreneurial Story

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 Take Risks : An Entrepreneurial Story 

Manik Kinra is the Co Founder at Pin Click which is a technology platform with strong offline integration providing managed rental solutions for both shared & family homes and property advisory solutions for our new home requirements. Prior to starting Pin Click, Mr. Manik co-founded India’s first and largest creative crowdsourcing platform, Jade Magnet, with focus on SMEs requirements in the marketing space. Jade Magnet in its four years went on to become one of India’s hottest startups (Business Today 2010) with awards like NASSCOM Emerge 50 in 201, Manthan most innovative digital enterprise in 2011, Most innovative startup at Global Technology Summit in Palo Alto in 2011.

Jade Magnet further went on to be published as a case study in Harvard Business Review in 2017. Prior to his entrepreneurial journey, Manik used to be part of the financial services sales for CSC, EMEA and was based out of their head office in Aldershot.

His entrepreneurial stint is nothing short of praise and inspiration for other aspiring entrepreneurs to follow the path they have chosen to pursue.

Like the famous Paulo Coelho used to say –

“Be Brave. Take Risks. Nothing can substitute experience.”

I have taken most of the decisions in my life basis ‘that feeling’ inside me. Not all of them have turned out to be beautiful experiences, but I don’t regret any. I have taken steps because I wanted to take them, I wanted to risk it and see what comes next. I would rather do something and fail than not do something and regret.

The first risk that I took or say I had to take was leaving my confirmed admission in one of the top colleges. Next was when I left my well-settled job with assured growth opportunities. Then, when I decided to run the company with no prior experience or knowledge about the sector, and finally, when I decided to restructure a company that was running and earning successfully.

Therefore, risks have always been a part of my journey. I can say it with conviction that my life would have been painful had I not taken wrong decisions and committed mistakes. I have grown out of them and it is a part of my making.

When my business partner and I started our business in the IT sector, we did fantastically well. So much so that Business Today, Top Start-Ups, Economic Times, Brand Equity etc. had our articles coming every week. Our valuation was about $2 million, and we let go a buyout option of $1.8 million.

Again, we risked doing so because we believed that the scope was huge. With crowd sourcing as a model, we pivoted and started getting huge clients. This way, our cost reduced, our revenue went- up 4X and it resulted in 8X profit.

“Our cost reduced, our revenue went- up 4X and it resulted in 8X profit.”

But when it came to raising funds, no VC was ready. Nobody wanted to put money in agency marketing platform because of the scalability issue and also because of our newness in this space.

That didn’t stop us from making huge profits because of the huge clients. Yet, we didn’t get ‘that feeling’. The feeling of satisfaction, the feeling of enjoying what you’re doing, was missing. Hence, despite the positive growth trajectory of the business, we shut.

My next business was in the real estate market. It was a very unorganised market, which provided the opportunity to organise it. Also, every closed deal to a major player in this sector was awarded far more than getting them a lead. Hence, we decided on creating structures of huge broker teams.

But eventually scaling became an issue and we started facing a downfall. The sector of real estate, sales distribution, B2C segment, was all very new to me. Hence, I decided to restructure the entire team. It was painful to fire people, but it had to be done. We rehired people from non-real estate background to get a moral match and took a new office to restart in the market. I strongly believe you genuinely need great community and marketing to happen.

“As an entrepreneur, you should stop worrying about what will people think of this action.”

As an entrepreneur, you should stop worrying about what will people think of this action. Will I be accepted in the society because of this? Do not be afraid of being judged. Do not be skeptical about doing something just because society will talk about it. Be clear about the path you want to choose. Your path is your path and it should be driven by metrics that you think is right and your ability to drive it.

You can’t be deciding your moves basis somebody else. Don’t follow somebody because you think you can do it better. I have done it and I have had my share of sufferings with it. Also, don’t be too dependent on your heart to make decisions.

Two things that have worked the best for me is the ideology of not worrying about what people say and the support at home especially of my wife. Had she not supported me during the early days, I surely wouldn’t have been able to even get on the path of entrepreneurship. Even today, she continues to juggle between home and work due to my uncertain schedule.

Source: Re-Charge 

 

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39 Comments on “Take Risks : An Entrepreneurial Story”

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