How startups like SyberPlace and Termsheet are discovering the virtue of being 'single'
Startups are setting a trend of disruption, and some startups buck the trends even within the startup ecosystem. In contravention to the classic practice of having multiple cofounders, some like to tread the lone road.
Despite the increased odds it may pose, they choose to 'remain single' enabling quicker decision-making power and lesser number of compromises to be made.
"I have seen strengths in being the single founder," noted Major Prashant Rai, Founder of Bengaluru-based resources-aggregator Onetimejobs.com.
"When you have cofounders investing in the company, you have to listen to them while making decisions and utilising funds. This way the decisions are fast. I take ideas from my team, but final decision will be mine."
Some draw inspiration from the stalwarts for continuing as single founders like Urvesh Goel, founder of Hyderabad-based tech etailer SyberPlace.com.
"I believed in profitable sustainable growth rather than aggressive acquisition of customers. SyberPlace business model had few takers most of the people I talked to believed in Amazon's way of doing business." Urvesh.
The thread that connects all single-founders is the strong belief that having an efficient team is better than having one or two individuals as cofounders.
"Most cofounder stories tell how they had been together for a long time sharing the passion and the ideas and having a certain amount of understanding about each other. In the beginning it might help you too," admits Sakshi Vij, founder of self-drive service Mylescars.com. "But moving forward, what matters more is the talent you hire and your team on the ground."
However, founders admit that the sole journey might bring along with it its own challenges.
Shaifali Holani, who started call repair and maintenance provider EasyFix.in in 2011, notes, "when I look back it has worked out all good, but having a cofounder could also have been a good idea. When you are starting a business you are not looking at hiring expensive resources If you have a cofounder who is on the same page with you, then that part can be taken care of."
Shaifaly remembers the difficulties in raising funds, fighting against the stereotypes associated with a woman running a company single handed. Others too agree with her and opine that the biggest challenge might come in the form of investors.
Vivek Durai, founder and CEO of Chennai-based startup Termsheet, remembers how his team helped matchmaking startup Aisle.co, which too had a single founder, to raise funds.
"They had been trying to raise funds for over a year before approaching us," said Durai, who himself, is a single-founder.
Startups are setting a trend of disruption, and some startups buck the trends even within the startup ecosystem. In contravention to the classic practice of having multiple cofounders, some like to tread the lone road.
Despite the increased odds it may pose, they choose to 'remain single' enabling quicker decision-making power and lesser number of compromises to be made.
"I have seen strengths in being the single founder," noted Major Prashant Rai, Founder of Bengaluru-based resources-aggregator Onetimejobs.com.
"When you have cofounders investing in the company, you have to listen to them while making decisions and utilising funds. This way the decisions are fast. I take ideas from my team, but final decision will be mine."
Some draw inspiration from the stalwarts for continuing as single founders like Urvesh Goel, founder of Hyderabad-based tech etailer SyberPlace.com.
"I believed in profitable sustainable growth rather than aggressive acquisition of customers. SyberPlace business model had few takers most of the people I talked to believed in Amazon's way of doing business." Urvesh.
The thread that connects all single-founders is the strong belief that having an efficient team is better than having one or two individuals as cofounders.
"Most cofounder stories tell how they had been together for a long time sharing the passion and the ideas and having a certain amount of understanding about each other. In the beginning it might help you too," admits Sakshi Vij, founder of self-drive service Mylescars.com. "But moving forward, what matters more is the talent you hire and your team on the ground."
However, founders admit that the sole journey might bring along with it its own challenges.
Shaifali Holani, who started call repair and maintenance provider EasyFix.in in 2011, notes, "when I look back it has worked out all good, but having a cofounder could also have been a good idea. When you are starting a business you are not looking at hiring expensive resources If you have a cofounder who is on the same page with you, then that part can be taken care of."
Shaifaly remembers the difficulties in raising funds, fighting against the stereotypes associated with a woman running a company single handed. Others too agree with her and opine that the biggest challenge might come in the form of investors.
Vivek Durai, founder and CEO of Chennai-based startup Termsheet, remembers how his team helped matchmaking startup Aisle.co, which too had a single founder, to raise funds.
"They had been trying to raise funds for over a year before approaching us," said Durai, who himself, is a single-founder.
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