 "Economic incentives not enough to retain employees: Snapdeal's Kunal Bahl")
Skilled manpower and retaining employees during tough times are few of the biggest challenges faced by some of the startups.
Bhavish Aggarwal, founder, OlaCabs, said, ”Lack of skilled manpower was one of the biggest challenges we faced. The more customer insights you have, the more your product can grow and improve. The challenge we face is in talent , it takes bandwidth and time to get and build them.”
Kunal Bahl, founder, Snapdeal said, "Over the next three years, we want to create one million successful online entrepreneurs."
“For early stage entrepreuners, the real insight is to look into what is the real problem and then work towards it. Sometimes it can be very demotivating when you don't see that early traction. People will keep asking you, what's going on? Why you quit your job, when are you getting married? So let it bog you down. Keep taking feedback, keep talking to your customers. You will find the solution. Don't give up,” Bahl said.
Also, economic incentives are not enough to retain people. “You have to make them (employees) understand that they can make an impact. They need to be passionate about the work.”
Apart from retaining people, even hiring became a challenge for start-ups at one point of time.
Dilip Chabria of Team Indus said, "People we interviewed actually interviewed us to see if we were serious about getting to the moon. And our motto has been to aspire, believe, and create.”
Also, customers are the main reason that start-ups are in business. Varsha Rao of AirBnB said, “We grew quite organically for many, many years. It's important to have customers who love you. It’s only with time that the business comes in. Get 100 customers you love rather than 1M customers who only like you.”
Bhavish Aggarwal, founder, OlaCabs, said, ”Lack of skilled manpower was one of the biggest challenges we faced. The more customer insights you have, the more your product can grow and improve. The challenge we face is in talent , it takes bandwidth and time to get and build them.”
Kunal Bahl, founder, Snapdeal said, "Over the next three years, we want to create one million successful online entrepreneurs."
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Snapdeal on Friday along with lender State Bank of India announced launch of SBI e-Smart SME to offer easy working capital to online e-commerce players. The bank has initially tied up with e-commerce major Snapdeal to offer instant loans to its sellers.
“For early stage entrepreuners, the real insight is to look into what is the real problem and then work towards it. Sometimes it can be very demotivating when you don't see that early traction. People will keep asking you, what's going on? Why you quit your job, when are you getting married? So let it bog you down. Keep taking feedback, keep talking to your customers. You will find the solution. Don't give up,” Bahl said.
Also, economic incentives are not enough to retain people. “You have to make them (employees) understand that they can make an impact. They need to be passionate about the work.”
Apart from retaining people, even hiring became a challenge for start-ups at one point of time.
Dilip Chabria of Team Indus said, "People we interviewed actually interviewed us to see if we were serious about getting to the moon. And our motto has been to aspire, believe, and create.”
Also, customers are the main reason that start-ups are in business. Varsha Rao of AirBnB said, “We grew quite organically for many, many years. It's important to have customers who love you. It’s only with time that the business comes in. Get 100 customers you love rather than 1M customers who only like you.”