Passion, not money should be driver for entrepreneurs: Zomato CEO

Passion, not money: Entrepreneurs should be guided by passion and drive as they build the company of their dreams, Zomato CEO Deepinder Goyal said.

Speaking at the StartUp Mahakumbh on March 18, Goyal warned startup founders that a company which only aims to make money will not work, and result in “bad governance calls.” 

During a fireside chat with InfoEdge founder Sanjeev Bikhchandani, Goyal candidly talked about about how Zomato prefers to stay paranoid to always be ahead. 

He further asserted that complacency should not set in at any given point in time.

“I see a lot of founders starting a lot of companies, and I ask them why did you start this company, and the answer is ‘I want to make a lot of more money’…I don’t think that works because that leads to bad governance calls… that’s not the purpose with which you should start a company,” Goyal said while addressing several attendees.

He recommended budding entrepreneurs to be so passionate about something, that they become willing to risk their life for it. Only then can they build a company of their dreams.

“That’s the only piece of advice I have… do it with passion, don’t do it for money,” Goyal said.

During the chat, Bikhchandani guided founders and startups to have a hands-on and frugal approach, and remain connected to consumers and the market. 

Innovation should be ongoing for enterprises, Goyal underlined, since no business model can last longer than 10-20 years without the same.

Anyone who is seeking opportunities for entrepreneurship and turning into a startup founder, but aims to do so for being comfortable and happy is not making the right choice, the Zomato CEO further stated. 

“You have to learn to handle the stress to succeed. The only way to lose is to quit…if you can survive, you’ll win,” he advocated.

(With PTI Inputs)