HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > Editorial
EDITORIAL

Heroes turned Zeroes

Monday, April 3, 2017, 17:57 Hrs  [IST]

In this era of technology, it takes no time for one to become a hero and at the same time turn into a zero in the same speed and fashion. Technology is helping every Tom, Dick and Harry to dream big and if luck has it become an entrepreneur overnight. Few of them, who understand the value of PR and handle it well, also achieve stardom quickly. This stardom is then encashed to gain seed funds, PE, VC funds, etc. to further expand the business model in a highly misunderstood ‘aggressive’ fashion. In this highly competitive business world where scale is the game for everyone and the big sharks play every dirty game to gain the market, smaller players who do not have the smartness and foresight to see the big boys’ traps, slip and fall flat. Start ups going bust have become an order now giving reasons for industry skeptics to rejoice!

The intention is not to deride or demotivate the young Indian start up, especially at a time when the government itself has Start up India programme to unlock the innovative spirit of young India. The story of a young start up entrepreneur in the accommodation space is something that should act as a lesson for many. He was an omnipresent face in all the travel technology related conferences till last month inspiring people with ideas and giving interesting anecdotes on how he travelled around the remote places in the country to unlock the unutilised and underutilised inventory in the home stay space. He brought onboard large number of home stay owners and state tourism boards and aggregated 30,000 alternate accommodation inventories through hard work. When everything seemed hunky-dory for his venture with stories of lot of state tourism boards signing in the platform trickling in on a daily basis, he called it a day! The reason – want of capital! Opening his mind to me in one of his last interactions before he got incarcerated in Bengaluru on the complaint of a homestay owner, he refused to buy my argument that his concept has failed, instead he convinced me that not the concept but the business has failed, because he tried to compete with the big boys in the market and in the bargain ran out of money!

I felt really bad when I read about his arrest and further news about continued refusal by court of law on his bail applications within couple of days of our informal interaction. Even when he conceded that he lost money competing with other distribution platforms, and had to take a break to tweak the business model a bit to come back into the business in a different avatar, the system was not ready to accept and give him the breathing space. When people who fleeced the banking system of this country crores of money and live life king size in alien lands, and companies fight with all their might unending legal battles to keep the public assets privy to them despite expiry of lease period, it is an irony that it is few unsuspecting people who pay the price for pretty miscalculations and misjudgments!

P Krishna Kumar
Assistant Editor
krishna.kumar@saffronsynergies.in

 
Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with del.icio.usdel.icio.us Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
 POST A COMMENT
* Name :    
* Email :    
* Message :  
   
 
CoverStory
Analysis
 
  H&R Johnson opens sixth Experience Store in India to service Customers, Architects & Designers as a one-stop-shop
  Beverly Wilshire launches Secret Rosé Garden for celebration of its 90th Anniversary
 
weekly
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar
Global Travel Mart for India
September 15-16, 2018, Vigyan Bhawan, New Delhi

FHRAI Annual Convention
September 20-22, 2018, Lucknow

Kerala Travel Mart (KTM)
September 27-30, 2018, Kochi, Kerala
Events
 
 
people
interview
newappoint
expert
© Copyright 2016 Saffron Synergies Pvt Ltd
HOME   |   ABOUT US   |   CONTACT US   |   FEEDBACK   |   DISCLAIMER   |   SITE MAP   |   ARCHIVES