'Go slow, stay clear on purpose,' Shiprocket co-founder urges entrepreneurs

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Aspiring entrepreneurs should embark on their startup journey with clarity of purpose, a clear understanding of why they are building the venture, and a well-calibrated approach, not haste, advises Shiprocket co-founder and CEO Saahil Goel.

India's market dynamics, amplified by the potential of technologies such as AI, create a wealth of opportunities for aspiring entrepreneurs.

"You could pick anything, from engineering tech to health tech or fintech to stocks...You think about it, and there's a new way to leverage an AI tool or an AI app...to be able to cater to that demand. So any industry with the new AI toolkit available is a great opportunity now for people to build in India," Goel told PTI.

His advice for aspiring entrepreneurs: "always ask yourself why you want to do it."  Goel says he often meets people who lack clarity on that basic question. The early days of an entrepreneurial journey are as much about a clarity of purpose as pitting one idea against the next.

"All entrepreneurs, you'll find, are trying to get over a problem that they found, and that is what is driving them. Other than that, I think it is okay to be slow," he said.

Taking more time to calibrate and think through strategies on how to get the first set of customers, then scale that loyal base riding on the product's appeal and strengths, can make a difference, as stumbling at execution can be demoralising for a founder, he said.

"Take your time. Don't try to look at other people too much. Get your first 10 customers who love your product/service, then 100 customers, whatever early scale means to you. But they should like you enough that if your product or service goes away, they would be upset. Only then you have a real business, and then the next step is to work on product pricing and costs," Goel said.

Avoiding haste and exercising patience gives founders a steadier path, rather than taking "three steps forward and one-and-a-half back," he said.

"From that perspective, take your time and build slowly in the beginning...be sure of why you're doing it. When you look at the India market today, there are a plethora of opportunities and potential. You could pick anything from engineering tech to health tech or fintech to stocks," he said, adding that the mix of AI into the market dynamics here brings new opportunities for those who want to build for India.

With its technology stack, IPO-bound Shiprocket integrates shipping, fulfilment, customer communication, marketing tools, and commerce infrastructure for MSMEs, direct-to-consumer brands, and social commerce retailers across India. Its logistics data platform connects retailers, carriers, and consumers across national and overseas locations.

The logistics tech firm is backed by marquee investors like Temasek, Zomato (Eternal) and PayPal, and Goel sees the upcoming IPO as a key milestone reflecting internal discipline, scale and governance within the company.