Ecommerce industry in India has been getting lots of traction these days and industry witnessed multiple and square growth. Burgeoning ecommerce space has also seen evolvement of newer trends on various front, however one trend that particularly catches my attention – why lot of senior professionals are tempted to hop on to bandwagon of e-entrepreneurship. In last two months, around ten senior professionals have deserted their plush professional stint and most of them did so to make a successful business in ecommerce space.
In late nineties and in the beginning of information age, there was a trend amongst technocrats to tread the volatile path of entrepreneurship, however, today it is enticing senior professionals to evangelize business opportunities over internet. The bigger question is that what driving such experienced professionals to take the plunge. www.iamwire.com tried to unearth this particular appetite and delight for e-entrepreneurship. Recently, Manoj Chandra, erstwhile VP Bata India opted out to start his own ecommerce venture, sharing his thought on the same Chandra said “The opportunities that are being offered today by the burgeoning ecommerce eco system in the country are key driver for senior corporate managers to take the plunge and become entrepreneurs. I believe the industry will witness more and more senior professionals joining the ecommerce industry. Though initial, the wave of start-up companies was driven by technocrats, it is now changing with experienced corporate professionals foraying into ecommerce”.
Later, Chandra pointed out that the senior professionals are undoubtedly bringing the expertise of building large and sustainable online retail businesses. Their experience and skills would be able to create real businesses value in online arena. It is all good to go after creating valuation but eventually, an internet company has to perform like a real business with a sustainable business model.
Emphasizing on urge to build sustainable business models rather than making quick bucks, Muralikrishnan B, country manager, eBay India said “if there is any smart professional with appetite to take a plunge in entrepreneurship, undoubtedly ecommerce presents an immense opportunity to create a big business. At the same time it is extremely risky and volatile. For me anybody who is in working in ecommerce industry in India is actually helping to disseminate the concept of ecommerce. If they are coming with intent to build a sustainable business model, then it is great. Meanwhile if they are doing so with intent of making quick bucks or for swelling their personal wealth promptly, I think it is not a smart thing to do because that take them down the way to make wrong choices.
In last few months, more than 15 senior professionals have deserted their professional stints to join the club of e-entrepreneurship. Last week, www.iamwire.com reported that Rahul Sethi, former, President tradus.in has left to start his own ecommerce set up. Throwing light on his decision to become an entrepreneur, Rahul said “Internet industry is growing very fast, entry barriers are low and the innovations levels are very high. This certainly means that we would see the lot of individuals who can increase their risk coefficient would take entrepreneurial route in the near future. E-Commerce industry in India – with the pace it is growing; existing players would not be able to absorb all the demand and would leave scope for new entrants. In addition – with initial phase of technology becoming a commodity (through open source options) the cost of setting up a business is comparatively very low”
However, the bigger question is about the timing. Why lots of senior professionals are deserting their professional career to start their own venture around this time? Expressing his views on timing, Sethi said that this is a right time to take the plunge into budding Indian ecommerce space. And believe me, it’s a different sea of opportunities altogether. In coming two – three years I am sure that more professionals would hop on to bandwagon of e- entrepreneurship.
With all these senior professionals all set to bridge their part of gap in online retail market in India, this industry is still wide open to accept more seasoned and experienced professionals who are willing to leave their highly paid, secure career and shoot for a much large growth opportunity as entrepreneurs in Indian Online arena. As far as timing of senior professionals leaving their job and foraying as entrepreneur is concerned, we think this is the right time to enter the Indian ecommerce market. However, professionals should join the industry with intent to create and nurture sustainable business model rather than choosing a successful model from other markets across the globe.