In the cutthroat world of startups, failure is an all too familiar companion. However, amidst these daunting odds, there are remarkable entrepreneurs who have defied the statistics and transformed their unsuccessful ventures into stepping stones towards triumph. These visionary individuals possess a unique mindset that sees failure as a powerful teacher rather than a deterrent. Instead of being disheartened by setbacks, they leverage them as invaluable learning experiences. They adapt, refine their strategies, and bounce back stronger than ever.Success is difficult to achieve, especially for company owners. Many people have aspirations of starting their own business and making a good living from it. There are around 58.5 million entrepreneurs in India, which is the country of many well-known and well-regarded businesspeople. 14% of such business owners are women. However, if you look at the history of Indian entrepreneurs, you will see that many well-known figures struggled before finding success.
In this listicle, we present the top four entrepreneurs in the startup world who have embraced their failures, leveraging them as metaphorical stepping stones to reach greater heights in their entrepreneurial journeys.
At the age of 17 only he started his own startup- Http Cart Technologies (Leading IT Product Company) in October 2014 along with his cousin Praveen Gupta. In April 2015, Http Cart became the first ever Indian private company to launch Completely Free WiFi – “WiJungle” but This service did well initially but shut down due to certain financial encounters. However, after certain forays, the Guptas recognized the area of network security and introduced ‘Unified Network Security Gateway Product’ under the old brand name ‘WiJungle’ in April 2017. WiJungle is now a globally acclaimed brand name as the ‘world’s first unified network security product’.
Now the startup built a profitable startup of 200 Cr. and raised seed funding at a valuation of $22 million. WiJungle was introduced by Karmesh Gupta. With the use of this Gurugram-based network security platform, businesses can enhance and safeguard every aspect of their network through a single interface. The WiJungle is currently serving the government and private businesses across various verticals including hospitality, healthcare, education, defense, transportation, retail, BFSI, and ITES, among others across pan India.
Sunil Bharti Mittal:
He started his first business, where he made crankshafts for bicycles and was only 18-years old at that time. Within 3-years, he set up two more plants, but his initial days were pretty tough as he earned very little from it. By 1980, he established Bharti Overseas Trading Company through which imported many portable electric power generators. But in 1983, the government banned the import of generators, which made Mr. Mittal go out of business overnight. But that didn’t stop him, as he found success through the telecom business and started marketing fax machines and telephones, which helped him become successful.
Ritesh Agarwal is one of the most popular Indian entrepreneurs who failed even before making it big. He started Oravel Stays which has operated as a marketplace for bed and breakfast. But his company failed to gain success because he didn’t have the best team, which led to plenty of arguments and mishaps within the firm. But he did not lose hope and started again by building an excellent team. By 2013, Mr. Agarwal changed the name of Oravel Stays to OYO Rooms to provide rooms for a hassle-free stay within the economy and budget sector of the Hospitality Industry of India. He has led his firm to 4000-rooms, 450-hotels, and over 500-employees along with 3-rounds of growth and funding.
N.R. Narayana Murthy:
Mr. N.R. Narayana Murthy is one of the well-known Indian entrepreneurs who failed before achieving success. He started his journey from IIMA and established a small startup firm known as Softronics. But the business failed miserably, and he ended up joining Patni Computer Systems. Mr. Murthy had a different dream, for which he established another company with the name Infosys Technologies along with his six other partners. Now, Infosys is one of the most highly successful IT (Information Technology) firms across the globe.