Coach: Mohandas Pai, Chairman, Manipal Global Education
Once startups have built a wonderful business, they have two choices; to sell their venture and make money, or build a sustainable business.
If entrepreneurs want to build a business for the long term; they should focus immensely on taking care of their customers, keep their teams motivated and plan their scale-up carefully, because the challenges they face may vary at every stage of scaling.
Companies should respect capital; never blow up cash. Instead, save for the future.
Hire people who want to change the world, want to create a revolution. To encourage this, build an open, transparent culture, where ideas flow freely and recognition is purely based on merit.