Flipkart is an Indian e-commerce megastore that is headquartered in Bangalore. Founded by two Indian Institute of Technology, Delhi graduates in the year 2005, Flipkart initially focused on online sales of books. However, the vision of the co-founders – Sachin Bansal and Binny Bansal resulted in the manifestation of this billion dollar company. Slowly, but surely, Flipkart started selling electronic goods. This e-commerce website has several path breaking stories up its sleeve.
Entrepreneurs and co-founders should embrace the quality of ‘Learning from the Great.’ Here is a noteworthy account:
- Begin at the Bottom:
This is an elusive principle that is often mocked and ridiculed. More often than not, people get embarrassed when they become the office bearers of less elite and not-so esteemed designations. Many young men, in pursuit of a lucrative career, do away with the principle of ‘Begin at the Bottom.’ By beginning at the top, business heads and administrators are completely slow on the uptake. Due to the lack of the nitty-gritty of operations at every level, the complete organizational framework tends to be inept and incompetent. It was just a pittance of 10,000 from their parents that helped the co-founders launch the e-commerce site. The co-founders understood the executive cadres manifest in each level. It is better to climb a staircase one step at a time, rather than attempting to reach the top in one leap.
- Avoid splitting hairs:
The co-founders have been cautious enough in avoiding splitting hairs. Despite their opinionated and diverse personalities, the two co-founders displayed the bite and penetration to reach a mutual consensus on business related themes and concerns. They embraced the gospel truth- true respect cannot be demanded, but must be earned.
- High octane performance:
People of their ideologies let their achievements walk the talk. However, achieving something out of the box and rising above the mundane is never a pushover. What it takes to chase one’s dreams is ‘high octane performance.’
- Invest in People:
The co-founders have been exceptional in hiring top notch programmers and outstanding digital marketers. Their market research analysts and financial analysts have been phenomenal. Thus, they have been the paragons of investing in people. Top performers are usually paid fat salaries. You must also read what motivates an individual to join a startup?
- Understand and enrich each other:
The co-founders discovered the potential among themselves and used it for a right cause. A frequent object of contention in several established conglomerates such as Reliance and startups such as Housing.com is the failure of co-founders to be in rapport with each other.