Sachin Bansal’s Journey From First-Time Entrepreneur to a Seasoned Business Leader

 As Sachin Bansal-led financial services firm Navi makes a bid to raise Rs 3,500 crore from the public markets, here is a look at his business moves which paved the way.

Flipkart co-founders Sachin Bansal and Binny Bansal were the ‘OG’ poster boys of the Indian startup ecosystem. From their time at IIT Delhi to working with Amazon and launching their take on what an ecommerce business for India should look like in 2007, their journey has been well documented.

Ten years into the Flipkart journey, Sachin formally announced his exit from Flipkart in 2018 after the deal with Walmart. All eyes were on Sachin’s next endeavor. At the time, he said that he will be taking time-off to “work on pending projects, gaming, and brushing up his coding skills,” in a statement.

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Sachin made a comeback as an entrepreneur in December 2018 with BAC Acquisitions, which he started with his batchmate from IIT Delhi, Ankit Agarwal. This was later renamed to Navi Technologies, marking Sachin’s new stab at entrepreneurship.

Navi’s stab at Rs 3,500 crore IPO will be watched closely, as much for its performance in the tumultuous market and for the storied name leading it. 

Here is a quick snapshot of Sachin Bansal’s journey as an entrepreneur over the years.

Meteoric rise and cold departure

Flipkart started out as a book ecommerce site in 2007, raising its first equity round in 2009 for $1 million. The company went on to raise capital from Tiger Global Management, led by Lee Fixel at the time, and SoftBank, among others. 

Sachin, who was the CEO of the company till 2016, was asked to cede his seat to co-founder Binny Bansal as the company board was unhappy with some of the business decisions made by him during 2015 and 2016.

After building out the company for 10 years, the ecommerce marketplace marked Walmart’s second coming in India as it acquired 77 percent stake in the company for a whopping $16 billion. Sachin, who was the executive chairman at the time, resigned from his post. In the process, he sold his 5.5 percent stake in the company to Walmart for a whopping $1 billion.

A snapshot of Sachin Bansal's entrepreneurial journey

New beginnings

A prolific angel investor in technology companies such as electric vehicle maker Ather Energy, healthtech company SigTuple, and edtech unicorn Unacademy, Sachin started his investment journey as early as 2013. 

In December 2018, he incorporated BAC Acquisitions (BACQ) with former director at Bank of America and IIT Delhi batchmate Ankit Agarwal. The company was supposed to roll-up Sachin’s new investments, which were mostly through venture debt. 

Source: yourstory.com/

Anek Bedi- How a Growth Mindset Can Lead to a New Chapter for Entrepreneurial Success

 What are the reasons entrepreneurs should adopt a growth mindset? Entrepreneurs who were unwilling to take risks and invest in risky projects may have started out being cautious. Despite this, these businesses can succeed if given the proper guidance and attitude. This is possible through the use of a growth mindset, a skill that every entrepreneur must develop. A growth mindset is best understood if you know what it looks like. It is the approach to business that believes that you and other people will succeed together. An optimistic mindset encourages you to overcome obstacles and see setbacks as opportunities. Well, this was something that catches my interest. So to understand what a growth mindset is, I got the opportunity to have a conversation with one of the top entrepreneurs in Punjab- Mr. Anek Bedi (Prabnek Singh). So let’s see what I got to learn from his experience:

About Anek Bedi

Anek Bedi is an encaustic entrepreneur running an Indian-based IT company named Virtual Oplossing. His company is one of the leading companies in Punjab. What inspires me a lot is his dedication to work that took him towards height at such a young age. I think he'd inspire younger generations today. While talking to him, I got to know a lot about him, his interests, his experiences, and his growth mindset. His approach to life is absolutely inspirational. That's why I thought it will be worth sharing with all of you. Anek Bedi’s positive attributes include:

Anek Bedi’s Growth Mindset

The following points show what Anek Bedi’s mindset about growth is. The points written below reflect what he says about growth:

● Analyze your failures

Entrepreneurs should be able to look at failure objectively and learn from it. Not all that goes wrong in business is a failure. As a result, it could encourage future entrepreneurs to learn from their mistakes. I see failure in two ways. In the first case, you fail in something you’ve previously been successful at. Secondly, you fail at something you previously thought was impossible. It is important to develop it so that you can overcome setbacks and move forward when you fall into the second category.

● Adaptability is a virtue

However, preparation for difficult times and failures is important. People tend to forget that they have to be patient in difficult situations. It is especially true in the business world, where many companies try to avoid the problems caused by actually talking to people. Therefore, if you want to be successful in business, you have to use negotiation skills to resolve conflicts.

● Prepare for risk

As per Anek Bedi mindset, risks are inherent to entrepreneurship. An entrepreneurial spirit and a willingness to take calculated risks are essential for growing your business successfully. Also, those who lack a growth mindset generally avoid calculated risks because they fear failing. In contrast, growth-minded entrepreneurs know that risks are inevitable in business, but they also know how to handle them. Therefore, a business will eventually fail without a growth mentality.

● Reach Out to Customers

Moreover, you must be able to reach out to other people and make them part of your business. Understanding your customers is crucial to marketing to them. Conversely, people who fail to grow their business are ignorant of potential customers. People fail to realize that marketing can increase profitability by focusing on the right audience. In order to appreciate the product or service, you need a growth attitude, not a fixed mindset. Creating new products and services is essential to achieving growth in your business.

Wrapping Up

Therefore, this is what Anek Bedi’s philosophy about growth is. I am sure his ideas and growth perspective will surely inspire you to be adaptable in your life. So this is how a young entrepreneur, Anek Bedi writes a new chapter with his growth Mindset. This perspective took his company Virtual Oplossing towards success. So if you are a beginner, you must consider Anek Bedi’s perspective to be successful.