Entrepreneurship Development Cell

18.04.2023
Palak Agarwal

Report on Speaker Session by Mr. Sanjeev Bikhchandi

In the ever-evolving realm of entrepreneurship, gaining insights from seasoned pioneers is

invaluable. This report delves into an enlightening speaker session delivered by Mr. Sanjeev
Bikhchandani, a distinguished entrepreneur and the visionary behind Naukri.com,
jeevansathi.com, and 99acres.com to name a few.

Focused on the intricate dynamics of entrepreneurship, this discourse with Mr. Bikhchandani
was hosted by the Entrepreneurship Development Cell of St. Xaviers College, Kolkata
(Autonomous) presented the attendees who are college students with a roadmap to navigate
the complexities of startup ventures and achieve sustainable success as they are just
starting to work toward their careers ahead.

Despite being a student from a service background with ideal marks to get a well-paying job,
Mr. Bikhchandani persevered and started an internet based bootstrapped entrepreneurial
venture in the 1990s when the internet was nascent and startups were considered
unconventional.

Mr. Sanjeev Bikhchandani shared his personal journey as an entrepreneur, discussing the
challenges and milestones he encountered while building Naukir.com. He highlighted the
importance of persistence and the ability to learn from failures through various examples
from his own experiences.

He expressed his views on modern AI like chatgpt and how historically it has been proven
that although new-gen technology destroys several jobs it also creates several more.
He debunked the myth of having one single mentor that guides an entrepreneur and
suggests aspiring entrepreneurs build their own networks without blindly trusting anyone.

Mr. Bikhchandani stated the significance of deep customer insights as a critical aspect of
business success. He identified it as the reason behind most successful entrepreneurial
ventures. He discussed the process of identifying opportunities in the market with the help of
these customer insights. He stated that entrepreneurs should focus on solving problems that
remain unaddressed and the ultimate needs of the customers and encouraged the audience
to look for gaps in existing systems and industries and to develop innovative solutions to fill
those gaps.
At the same time, he highlighted the importance of timing when launching a startup. He
explained that entering the market at the right time can significantly impact the success of a
business. He explained this by breaking down the reason behind Zomato’s success in India.

The speaker stressed on the importance of maintaining high margins to survive business
cycles in this dynamic economy.
Mr. Bikhchandani elaborated on the importance of building a strong team. He explained that
a startup's success depends on the people who are a part of it and they must be valued.
The interviewee then mentioned the need for young graduates to develop skills like
communication skills that conventional education does not provide before entering the job
market.
His talk also underlined the significance of a growth mindset and the ability to adapt and
pivot when faced with failure in their ventures due to reasons like poor execution, poor
economic environment, and competition.

Before making investments in startups, Mr. Bikhchandani stated that he focuses on three
crucial aspects: the product's customer value, the team's quality, and the overall business
environment.
Towards the end of the session, the speaker emphasizes the importance of commitment in
pursuing entrepreneurship as a career and the need for work-life integration.
The interview concluded with Mr. Bikhchandani offering advice to aspiring startup founders.
He emphasized that prioritizing customer funds over investor funds should be their guiding
principle, which will prove beneficial for their future endeavors.

Lastly, the members of the Entrepreneurship Development Cell presented a vote of thanks to
the speaker and stated that this session was a valuable resource for anyone interested in
business, leadership, or entrepreneurship and will help motivate and guide them in today’s
world.