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Survival of the fittest: Vijay Shekhar Sharma, Kiran Shaw, Kunal Bahl share tips on braving the Covid-19 impact

Top bosses share what entrepreneurs can do to weather the coronavirus pandemic.

, ET Bureau|
Last Updated: Mar 31, 2020, 06.10 PM IST
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A few top bosses are reaching out with some advice startup entrepreneurs could use to build for lasting value in these troubling times.
A few top bosses are reaching out with some advice startup entrepreneurs could use to build for lasting value in these troubling times.
With the IMF declaring a global recession and businesses across the board being impacted, a few top bosses are reaching out with some advice startup entrepreneurs could use to build for lasting value in these troubling times.

Preserve capital - Vijay Shekhar Sharma, Paytm founder

According to Sharma, the coronavirus pandemic will continue to affect businesses for at least another month.
According to Sharma, the coronavirus pandemic will continue to affect businesses for at least another month.

“First and foremost, preserve what you have,” said Paytm founder Vijay Shekahar Sharma in a recent interview with a business magazine. “Don’t risk your capital; refrain from spending on anything that may not be directly rewarding to your business.”

He recommends using this time to take a closer look at financials and take a call on business line items such as revenue, workforce, operational expenses etc. “This is the time when you can reconcile with yourself, have your senior team members talk to experts or people you trust.”

According to Sharma, the coronavirus pandemic will continue to affect businesses for at least another month if not two so businesses should be prepared with a business continuity plan.

Be a wartime CEO - Kunal Bahl, Snapdeal co founder

As someone who has gone through his fair share of ups and downs, Bahl shared a detailed list of ways entrepreneurs can weather the Covid-19 pandemic.
As someone who has gone through his fair share of ups and downs, Bahl shared a detailed list of ways entrepreneurs can weather the Covid-19 pandemi.

“Don't just get sucked into the daily firefighting during an extended crisis like we are all in currently. Times of subdued growth provide a good opportunity to build or strengthen capabilities that create lasting value for the business,” wrote Snapdeal co founder Kunal Bahl in a recent LinkedIn post.

As someone who has gone through his fair share of ups and downs, Bahl shared a detailed list of ways entrepreneurs can weather the Covid-19 pandemic with tips like conserving cash, pulling back on marketing, strengthening culture, focusing on user experience and organic growth, fixing unit economics, postponing new businesses/acquisitions/initiatives among others.

You can read the full post here.

Ignore herd mentality - Rajiv Bajaj, Bajaj Auto MD

Asked what lessons business owners can learn from the panic that ensued post the outbreak of the coronavirus, Bajaj Auto managing director Rajiv Bajaj said: “The same, timeless wisdom: Stay focused. Conserve your resources and ignore the herd mentality. Keep building herd immunity in your business and in yourselves.”

Have a purpose - Kiran Mazumdar Shaw, Biocon MD

Citing the success of Mylab Discovery (the firm behind India’s first testing kit) in a recent interview with a startup website, Biocon MD Kiran Mazumdar Shaw said, “I’ve always told all entrepreneurs you must have a purpose in what you are pursuing. If your purpose is something meaningful, something valuable, something that will make an impact, I think you will succeed. Don’t do it for money because money will follow. Do it because it makes a difference.”


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