The start-up ideas and founders can be seen everywhere nowadays. Everyone wants to have their own businesses. Some of them touch the heights of success and become big brands but what happens to the other ones that probably did not work out?
Well, Ratan Tata has finally emerged to mention his unwillingness to waste money anymore. He declared that from now on, there will be no second or a third chance. If he has invested in your start-up, you got to give your ALL and show positive outcomes!
There Is No Second Chance To Cash-Burn, Tata Says!
During his acceptance speech for the Lifetime Achievement Award at the TiECON awards, Tata said, “We will have start-ups which will attract attention, collect money and disappear. Such start-ups will not get a second or a third chance.”
He himself has been investing in new businesses and he believes that any new start-up requires networking, mentoring and proper advice. Without these important aspects, a company cannot catch the pace to reach a place where it can be called “triumphant”.
He wanted to highlight the fact that a lot of people extract investments presenting their ideas but in the end it all results in “cash-burn” and then people tend to disappear blurring the thought completely with which the investor has lent them the money.
Money Requires To Be Valued & Used Accordingly!
It has also come to light that Flipkart which is known to play a major role in the industry of e-commerce has been burning around $150 a month. All Tata wants from the start-up companies is to understand first and then implement the money in an ethical manner without having wanted to become an overnight success.
Everything takes time, especially those things that are destined to grow to heights. A tree doesn’t become a tree in one day. Not any celebrity out there became what they are today, in one day.
Source:LiveMint
