Startup Tips From Ankur Warikoo: How Startups Go from Zero to IPO

What separates a successful startup from one that fades into obscurity? How do founders strike the balance between building a personal brand and growing their business? Should you raise venture capital or keep full control of your company? These are the questions every entrepreneur faces, but the answers aren’t always obvious. 

TICE brings you an exclusive masterclass featuring Ankur Warikoo, founder of WebVeda, a renowned serial entrepreneur, motivational speaker, and mentor. In this session, Warikoo shared invaluable insights on the challenges faced by founders, offering actionable tips for every stage of their startup journey—from launching a new venture to scaling it up to an IPO. This masterclass was conducted by TiE Delhi-NCR during the Indian Mobile Congress 2024. With over 16 years of experience in the startup world, Warikoo’s candid and refreshing approach to entrepreneurship left a lasting impact on all who attended.

Also Read: Does Byju Ravindran Remind You of Ashneer Grover? Overfunding Lessons

His advice isn’t just about building a business—it’s about building the right kind of business. So how do you navigate the rollercoaster journey from zero to IPO? Here’s what Ankur Warikoo had to say.

The Power of Personal Branding

Warikoo began by addressing the importance of personal branding—a theme that ties closely to how founders present themselves to the world. "Every one of you has a personal brand," he stated. The way founders conduct themselves, both online and offline, shapes their startup’s reputation. He emphasized that entrepreneurs must be mindful of how they are perceived because, ultimately, their personal reputation often becomes intertwined with their business.

However, Warikoo was quick to point out that personal branding is more than just gaining followers. It’s about controlling your narrative and ensuring that the world understands your story and values. This authenticity not only attracts customers but also talent, investors, and partners.

Don’t Just Raise Money—Raise the Right Money

One of the most significant decisions an entrepreneur makes is when, and how, to raise capital. Warikoo’s message on fundraising was clear: raising money is not the endgame—it’s about raising the right kind of money at the right time. He explained that many founders feel pressured to chase venture capital, but this comes with responsibilities and long-term implications.

"Investors are not in the business of supporting startups," Warikoo remarked. "They’re in the business of entering and exiting businesses."

This means that once an investor comes on board, the founder is accountable for generating returns and potentially raising additional rounds of funding to keep growing. He advised founders to be clear about their long-term vision before committing to a fundraising path that may require constant scaling and rapid growth.

For startups that don’t need large sums of capital, Warikoo encouraged founders to consider alternative routes, like bootstrapping or lifestyle businesses, where they maintain full control and flexibility.

Also Read: Mohandas Pai Trends on Google Amid AI Centre Controversy

Testing Ideas: The Two-Week Experiment

A critical part of the startup journey is knowing which ideas to pursue and which to discard. To help founders validate their ideas quickly, Warikoo shared his tried-and-tested "Two-Week Test." The concept is simple: create a basic webpage for your product, run ads for two weeks, and measure the response. By spending a minimal amount of money on ads (around ₹150 per day), founders can gauge consumer interest before investing more time and resources.

This low-cost experiment helps founders identify which ideas resonate with potential customers and which ones don’t. Warikoo highlighted that this method allows entrepreneurs to fail fast and pivot without significant losses.

Hiring the Right People: Slow and Deliberate

Warikoo shared one of the most profound lessons from his 16-year entrepreneurial journey: people are the heart of any startup. Whether it’s product development, marketing, or operations, it all comes down to the team you build. He urged founders to be extremely slow and deliberate when hiring, focusing on finding individuals who align with the company’s values and vision.

He revealed his unique hiring process, which involves asking candidates unconventional, introspective questions about their personalities rather than just focusing on their professional experience. This approach, Warikoo explained, helps uncover the true nature of potential hires and ensures they are the right fit for the company culture.

Also Read: India's GenAI Hotspots: Key Trends and Leading AI Startups in 2024

Managing Failure: A Pathway to Success

Failure, Warikoo reminded the audience, is inevitable in the startup world. But how entrepreneurs handle failure can define their future success. "The biggest challenge is not failure itself, but the fear of being seen as a failure," Warikoo explained. He encouraged founders to embrace setbacks as learning experiences rather than allowing them to derail their confidence.

Warikoo used the example of the movie 3 Idiots, highlighting a scene where the character Farhan finally confronts his father about his true career passion. The message was clear: founders need to have honest conversations with themselves and those who matter most about their startup journey. It’s crucial to ask for support when needed and ensure that the pressure to succeed doesn’t compromise personal happiness or mental well-being.

Stay Patient and Avoid the "Growth Trap"

As startups grow, many founders feel the pressure to scale quickly—whether it’s raising more capital, expanding their team, or launching new products. Warikoo cautioned against falling into the "growth trap," where founders chase rapid growth without a clear strategy. "You can’t speed up progress beyond what is sustainable," he warned.

Patience, Warikoo advised, is key. Founders must allow their business to grow organically, learning from each step along the way. Rushing the process often leads to costly mistakes that can be hard to recover from.

Also Read: NASSCOM Report Unveils India’s Generative AI Startup Landscape 2024

The Startup Journey is About People, Patience, and Purpose

Warikoo’s masterclass offered a holistic view of the startup journey, from ideation to scaling and beyond. His advice spanned across building personal brands, making smart decisions about raising money, testing ideas, and hiring the right people. But perhaps his most important takeaway was this: the startup journey is ultimately about people—how you work with them, inspire them, and build lasting relationships.

As Warikoo wrapped up the session, he left the audience with one final thought: "Success doesn’t come from avoiding failure; it comes from learning how to navigate through it."

Join Our Thriving Entrepreneurial Community

Follow TICE News on Social Media and create a strong community of Talent, Ideas, Capital, and Entrepreneurship. YouTube  | Linkedin | X (Twitter) | Facebook | News Letters