Amit Gupta
FACTORYAL DIRECTOR - PRACTICE GROWTH & ANGEL INVESTOR
I come from a multigenerational business family which was spread across globally so business was a lunch and dinner table topic most days in the house. Having grown across geographies, I entered the world of business rather early helping my parents and then eventually started a new venture in home textile exports along with my sister, while pursuing my management at the age of 19, in 1995. The business then expanded over the years which I led and dealt with major retailers like Walmart, Ikea, Metro Gmbh as clients amongst a host of others over the years. For varying amounts of time, I was based outside the country servicing our clients which gave an early exposure to global standards which shape up who I am today. Over the years I have led different ventures and transitioned into the start-up arena around 2014 having returned from the US and joining as a co-founder at an event ticketing technology company, Meraevents in Hyderabad. Then, ran a company builder out of Singapore and Mumbai and now am in the advisory space leading the Growth Practice at Factoryal, a boutique advisory cum investment practice.
Amit Gupta
FACTORYAL DIRECTOR - PRACTICE GROWTH ANGEL INVESTOR
I come from a multigenerational business family which was spread across globally so business was a lunch and dinner table topic most days in the house. Having grown across geographies, I entered the world of business rather early helping my parents and then eventually started a new venture in home textile exports along with my sister, while pursuing my management at the age of 19, in 1995. The business then expanded over the years which I led and dealt with major retailers like Walmart, Ikea, Metro Gmbh as clients amongst a host of others over the years.
For varying amounts of time, I was based outside the country servicing our clients which gave an early exposure to global standards which shape up who I am today. Over the years I have led different ventures and transitioned into the start-up arena around 2014 having returned from the US and joining as a co-founder at an event ticketing technology company, Meraevents in Hyderabad. Then, ran a company builder out of Singapore and Mumbai and now am in the advisory space leading the Growth Practice at Factoryal, a boutique advisory cum investment practice.
If given the chance to start over, would you choose a corporate career or entrepreneurship, and why?
Entrepreneurship any day as firstly it runs in my blood! And secondly, the freedom that one gets to dream and experiment with. With corporate one gets bound by hierarchies and structures, almost shackled.
What has been the most challenging obstacle in your career, and how did you transform it into an opportunity?
Hard to name one single obstacle but being in the US during peak recession in 2008-2010 when I was establishing a new venture was quite challenging. Digitising operations and selling inventories across the US was daunting but it did help me get into technology and thus, I understand the space now which helps guide other entrepreneurs in the nascent Indian ecosystem. Would not have happened had there been no challenges faced.
What sets your brand startup and its services apart from others?
We are not a start-up but act as advisors and consultants to many growth stage startups but in a way, we do function like a startup itself. Being boutique, lean and super laser focused is one thing which sets us apart. We don’t do volume business but only quality long term business with minimal clients.
Can you tell us about any social initiatives you are involved in?
Teaching some underprivileged children as and when I get time under a NGO run by a few friends.
What is the key business success mantra that has guided you in establishing your success story?
People and relationship building. Yes, transactions are a part of business but the backbone always has been pay it forward and being a relationship builder.
Could you share a special quote or message for all communities and brands?
Focus on creating value and long term impact.
How do you stay motivated and inspired in your entrepreneurial journey?
Hard to define but being involved in high functioning work mode always, often 18-20 hours a day keeps me going. It has been like that from the last 28 odd years and slackness or low work mode often gets me demotivated.
What role has mentorship played in your career, and how do you pay it forward?
I’ve never had any structured mentor except my own mother, an accomplished businesswoman herself back in the day who serves as an inspiration in all that I do. Many people have then also played a part in helping across networks and I make it a point to pay it forward by helping people access the wider ecosystem network almost on a daily basis without expecting anything in return. It is my way of balancing the karma, if at all there is something like that.
Can you describe a moment when you felt like you truly made a difference through your work?
Yes, by single handedly cracking a large deal in the entertainment events space which then served as a catalyst for an entire industry. Make me quite proud that I was able to do it being an outsider to the industry then and it also helped me make friends for life whom I can call upon even today.
How do you balance innovation and tradition in your business practices?
Tradition is in the ethics and commitment part and innovation is necessary to go with the times. Certain traditional values are non negotiable or irreplaceable no matter how much times change so the balance is always maintained.
What future trends do you see shaping your industry, and how are you preparing for them?
As advisors to the start-ups ecosystem and enablers, we see Deeptech taking precedence over commerce going forward and we are gearing up to engage with all stakeholders, be it academia, IIT innovation hubs, Venture Capitalists, Incubators/accelerators and then Corporates. The dialogues are ongoing.
How do you ensure your team stays aligned with your company’s vision and goals?
We are a very lean team of three partners and some analysts and all have come together due to a shared vision. Any member is meticulously selected over months to make sure he/she identifies with the same DNA and then groomed accordingly. Any deviation from the shared goals is not encouraged and weeded out early on to avoid disruptions.
Can you share a particular project or achievement that you are most proud of?
Cracking mine and our earlier exports company’s first ever big six figure $ deal in 1997 at just 20 years by sheer hard work remains a favourite along with as stated above, cracking and gaining a large, in fact, the largest entertainment event account back in 2014 comes a close second.
How do you handle failure and setbacks, and what lessons have you learned from them?
It is natural to feel disheartened by setbacks and it is important to mourn or rather introspect upon them for some time. Then, one just has to let go and take the lessons so as not to repeat them. Hard to pin point any specifics but there have been challenges like in every business, some manageable and some just have to be worn on the sleeve as a badge of learning. The key lesson is perseverance knowing that something seemingly big at the time does become small in the long run as a reflection.
What advice would you give to aspiring entrepreneurs looking to make their mark in the industry?
Hard work has no substitute and stay in it for the long run. Don’t get swayed by runaway success stories which are an exception, not the norm. Plus, enjoy what you are doing.
How has the startup ecosystem evolved since you began, and what changes have you observed?
Oh there have been many changes as part of the evolution which is ongoing and off late, post covid, a certain level of maturity and discipline has started to take shape. With new technologies, it is bound to mature even more and become a force to reckon with globally by 2030.
What support systems or resources in the startup ecosystem have been crucial to your success?
Access to high level networks and of course capital plus that technology talent is also at hand in India. Over last 5 years, government support indirectly through innovation hubs also helps entrepreneurs a great deal.
How do you foster a culture of innovation and entrepreneurship within your company?
As advisors, we are continuously learning and adapting to the rapid pace of technology. Keeping abreast of the latest trends in the space by testing new areas of advancements is key.
What role do networking and community play in the success of your startup?
An absolute must in the correct circles and as one goes along the journey, a careful selection of the community one builds is important. It can’t be a goalless community with frivolous networking. Each part has to add significant value and one also needs to keep paying it forward.