Some of you may have followed a recent discussion on my blog, 18,000 People On The Bench At Infosys.
I have to say, I am continuously frustrated by aspiring entrepreneurs telling me that they cannot move forward because seed funding is not available in India. My message has always been, bootstrap the beginning, and then you can raise funding after your business thesis has been validated. That way, you preserve equity, and have the option also to not raise money at all. In my book, Bootstrapping: Doing More With Less, which comes out in India in September, I have discussed this topic at length. Even in Entrepreneur Journeys (Volume One), I opened the book addressing the issue of bootstrapping. This book has been available in India for a few months now.
Indian entrepreneurs, you must learn to bootstrap. Here’re some short video interview clips that Dwevesh Divedi of Breaking the 9 to 5 Jail produced where I have discussed the topic further. If you have a 9-5 job, you are in a perfect position to bootstrap a venture on the side. Hundreds and thousands of aspiring Indian entrepreneurs in corporate jobs: your seed capital is coming to you in form of a pay check. Use it, my friends.
- Why Bootstrapping is Important - August 8, 2019
- Bootstrap to Exit - March 12, 2019
- 100th 1M/1M Roundtable: Dedicated To Steve Jobs, Reinforcing Mission To Restructure Capitalism - October 7, 2011
Nice post informing about your two books immediately after Alok’s post on books on entrepreneurship.
Infosys hires 18,000 for the future when there is a downturn. Definitely the 18,000 who are on the bench have similar mentality as the company that hires them has. Sends a shiver down my spine to think that they are happy honing their skills and not creating brands products with 18,000! God how pathetic ….
@ravi lot of online saas based business don’t require one to be a domain expert.
Thumbs up! 🙂
The Problem is not about bootstrapping or seedfunding for these guys. What market do you think they understand sitting in the bench at infosys, to build a business for? Agreed, they might have some crazy ideas, but is it worth to throw money at these instead of perhaps buying a home for their parents?
The real problem is not bootstrapping. At least for the 18000 you mention. It is not knowing the needs and pain points of people or businesses.