What it takes to swim with the Sharks: Anupam Mittal, Vineeta Singh, Aman Gupta share vital survival tips for ‘Shark Tank India’ entrepreneurs

Imported reality TV format seldom fails to entertain in India. Our latest import, ‘Shark Tank’ is a great example of that. Already lording over the Internet with endless memes, and polarising the business community with razor-sharp and sometimes-snarky remarks, the show since its debut on SonyTV has grabbed the eyeballs of the start-up camps, business leaders, and MSME captains alike.

With a roster of seven high-profile business leaders as judges (Sharks), the show gives an opportunity to entrepreneurs (both big and small) from across India to pitch their ideas for potential investments and mentorship. Needless to say, there is a lot of cross-questioning, grilling and a tad bit of rude truth involved, but nonetheless, as the international versions of the show had proved over the years, it does make for entertaining television.

As the show gains popularity in India, the Economic Times Digital spoke to five Sharks — Anupam Mittal who is the founder and CEO of People Group-Shaadi.com, Vineeta Singh who is the co-founder and CEO of SUGAR Cosmetics, Aman Gupta who launched BoAt Audio, Namita Thapar who is the executive director of Emcure Pharma, and Ghazal Alagh who co-founded beuaty start-up MamaEarth — to understand what makes a winner tick.

Winning The Obstacle Race
Vineeta Singh, the co-founder and CEO of SUGAR cosmetics, said that a good potential Pitcher has been able to swing it if s/he is comfortable in the knowledge that it is going to be a marathon, and not a sprint. So, what is most required of any entrepreneur is resilience.

“Running a business has a never-ending set of challenges, roadblocks and setbacks. So, I am all for entrepreneurs who are resilient in the face of adversity, those who think long term and are not fazed by short-term setbacks or won’t give up when faced with minor and major failure,” Singh says.

Knowing Your Value
Talking about women entrepreneurs in particular, she said that a woman’s self-assessment of herself fuels her ambitions. “The first entrepreneurial lesson I have learnt and would like budding women entrepreneurs to remember is that, no matter what, you must value yourself, value your abilities and your skills,” she explained.

Singh further claimed that it is important for women to set high goals for themselves, both professionally and personally and despite the business ecosystem being dominated by men, they should always know that they are better than their male counterparts.

No Tickets For Guilt Trips

Namita Thapar, the executive director of Emcure Pharma, also had a special message for female Pitchers, and asked them to let go of their guilt of being ambitious. Women are often made to feel like they shouldn’t have professional ambitions, or if they are dedicated to their work, they are often said to be neglecting their family or home lives, while men never have to put up with such social biases. Thapar adds, “Women are great at time management but terrible at guilt management. Get rid of that guilt and go follow your heart and live your dreams fearlessly!”

A Man With A Plan
Aman Gupta, founder of BoAt Audio, said his ideal Pitcher is a wo/man with a plan, someone who is vision-oriented. But in an overcrowded ecosystem what gives the edge? Creative businesses that can carve a niche out for themselves, he adds.

“Having a ‘Vision’ for scalable ideas is extremely important to set timelines and goals for oneself. I appreciate Pitchers who have ‘Innovation’ in their ideas that can add value to the Indian consumer,” he added.

Bye Bye B-School!
All Sharks concurred that a fancy B-school degree isn't a prerequisite to break into the markets, in India. It doesn’t hurt to have one of course, but there are several entrepreneurs who have made it big without any management training. They have devised successful brands, and models, and made indigenous businesses successful.

The co-founder of MamaEarth, Ghazal Alagh said, “I don’t have one (a degree) and I made it, in fact so many big entrepreneurs are college dropouts so there is no one-fits-all approach.”

Hungry For Wins
Anupam Mittal, founder and CEO of People Group-Shaadi.com, feels that the entrepreneur with a cocktail combo of business acumen, perseverance and a hunger to win will take the laurels, and moolah home.

“Hunger to win is not necessarily linked to the business idea or the problem the entrepreneur is trying to solve. But, this trait is demonstrated by a founder having a track record of competing and winning. Could be a spot, an exam or a previous business. I am always asking questions to get a sense of these aspects among budding entrepreneurs,” said Mittal.

Perseverance is the single most important quality in an entrepreneur, added Mittal. “One truly needs to keep going at it and if you persist then you will find a way to create value. Business sees a lot of ups and downs, it is the ones who persevere that succeed,” he added.

Shark or Pitcher, looks like there are no easy shortcuts to success in life!

What is your idea of success? Tell us in the comments below