January 16, 2011

The Story Behind CCAvenue

Vishwas Patel of Avenues India, the company best known for its online payment gateway service CcAvenue, has related his entrepreneurial journey in The Rodinhoods.
Learnings from IT: 1) An average Indian businessman doesn't understand technology; he wants technology to understand his business and do wonders. The businessman just wants a simple, idiot proof solution that saves him time, effort and money.

2) Business is like an inverted triangle. You start from a small dot at the bottom and as you grow your business upwards, the opportunities keep on increasing. This is because you get experience, knowledge, access to funds etc., thats why you find the Ambanis, Tatas, Birlas, Mahindras. etc dabbling in all kinds of diverse businesses (Oil, telecoms, Insurance etc.) and are mostly successful in all their ventures. They build huge capital intensive scalable businesses that it becomes difficult to beat them on price and the way they scale their businesses in double quick time. Now if you don't become an entrepreneur and are under employment, then your graph is like a straight triangle where you start off at the bottom, there are lots of options but as you specialize in one as you grow upwards in the triangle then your opportunities become lesser and lesser. You start living your lives within your salary earnings and always become ultra sensitive in taking new responsibilities which has any recurring financial bearings.

3) You have to be blessed with a good team, who understand you and share your aspirations and believe in your vision. You have to have the knack of spotting good people (often more smarter than you) and work hard to gain their respect not by throwing attitudes but doing sheer hard work and showing respect to them. A company is as good as the team behind it.

Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on private equity, venture capital and M&A deals in India. Click Here to learn about Venture Intelligence products that help entrepreneurs reach out effectively to the investing community.