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Shark Tank India is ready for their long-awaited comeback to the silver screen. There is a whole new set of budding entrepreneurs ready to test shark-infested waters to see if they have what it takes to get investment from some investors. Best businessman in the country. New to the tank this season is Amit Jain, his CEO and co-founder of CarDekho Group. The businessman who seems to be in the tank to replace Ashnia Glover, as an entrepreneur he has more than a decade of experience and knows all too well the grit it takes to survive in the business world. In a candid conversation with OTTplay, the entrepreneur opened up about his reasons for joining the show, the dynamics with his fellow sharks, lessons learned from his own business journey, and more.
Interview excerpt…
What made you say yes to the show?
I’ve been running the company for 15 years and have been fortunate enough to gain a lot of wisdom along the way. We’ve come to Shark Tank India and watched the first season be a smash hit. The show had an impact on my neighbors as well. I thought this would be a great platform to voice my wisdom and influence the country and in some ways move the country forward. For the most part, I was thrilled by the fact that this platform could be used to inspire entrepreneurship across India.
You’ve been following the show since the first season. Since it’s a reality TV show, did you have any doubts or hesitation before saying yes?
I never really thought about it. And I think the impact of reality TV is yet to be seen. I had no hesitation.
Did you have some sort of game plan before you went to the show? Did you already decide what companies to invest in? Or did you hear the pitch and decide on the spot?
Clearly, there was this investment philosophy that I had before I joined. I wanted to invest in a company that could make me many times more money than I invested. Some places I wanted to invest in it could inspire a lot of people and I might not make a lot of money but it would encourage others to do it urge.
It goes without saying that you judge the merits of the person you’re pitching, the founder, and the idea he’s proposing, but roughly speaking, after those two things, you can split like a bucket. I think.
The first one is where pitches and pitchers are great and has only advantages. Second, the founders are great, their ideas may not be very scalable, but they could inspire many other people in India to start their own businesses. And that’s what the show itself is for. To inspire the entrepreneurial spirit of the people sitting at home watching the show.
I was hoping to meet some great entrepreneurs with great ideas as far as pre-determined plans were concerned, and it happened.
When you analyze a pitch or decide which one is more important to you, is it like an entrepreneur or is it their product or business idea?
It’s clearly entrepreneurial. In the early stages of a business, the entrepreneur is usually the key. Then, obviously, we look at other factors such as market and product viability.
When investing, have you invested only in what you consider to be your area of ​​expertise, or have you tried to diversify your investment portfolio as much as possible?
My approach was not sector specific. I wanted to invest in all areas. It also helps me gain more exposure in different types of industries and increase my own learning. I am a first-minded businessman.
How was the dynamic with the other sharks on the show?
I hope you had a great time. In the heat of the moment, we fought on some deals and had fun on set. This is good. Every time I step out of the tank, I see my professional friends.
In the show, of course, in Tank, we’re all competing with each other at times and working with each other at other times, trying to win the deal. Our professional life is about being friends.
I also wanted to know a little bit about your business journey. You graduated from his IIT and worked for TCS and other big name companies. So why did you take the plunge and become an entrepreneur?
I come from a joint family and my father was diagnosed with cancer. So my brother and I decided to move back home to take care of our family. We know IT as programmers and built our company on our skills.
We had been thinking about opening a company for at least three years before we started. And this event resets everything. And I’m glad we took the plunge.
Over the course of your business journey, you have witnessed many ups and downs. During difficult times, were there any mantras that helped you get through difficult times?
I think times of crisis probably teach us more than times of success. We must learn to welcome the lessons we have learned through difficult times and recessions. As things get harder, find better ways to achieve your business objectives. So I think rebooting, rebooting, and rising from the ashes again kind of helps.
Do you have a message for up-and-coming entrepreneurs in this country?
Experience is something you can’t get unless you try. And a huge amount of learning takes place. Whether you succeed or fail, you can find yourself wiser. Also, if you start a business, don’t start it for funding or valuation. Find real problems around you that you personally feel strongly about, build solutions around them, and interact with all consumers as consumers of your solutions. Be a better version of yourself and your product every day. Finally, we reach the gold mine. Be patient. There are no shortcuts to success. more likely to fail. It’s called learning, but you keep persevering.
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