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Last Updated Wednesday July 24 2019 04:45 AM IST

Lessons learnt: An ex-CEO dissects his failed startups

Gitanjali Diwakar
Assistant Content Producer
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Arun George Arun George

Not all startups have a happily-ever-after ending. While some become enterprises that are recognised internationally, there are others which go belly up in no time.

Onmanorama caught up with Arun George, 29, the former CEO of Genzcom Technologies, whose startup tales shed some light on the not-so-rosy sides of entrepreneurship.

Arun is a resident of Kalady. After having completed his BCA from MES College, Marampally, he went on to pursue his MCA. However, a year into the course, he realised that it was not his cup of tea. Instead, he wanted to run his own company.

He had worked at Nettimes Solutions in Bengaluru as a software trainee. Soon after, he had worked at Keltron. After a short stint the organisation, he had founded his own firm called Genzcom Technologies.

Genzcom Technologies Pvt Ltd was incubated at the Startup Village in Kochi. The firm developed a number of mobile applications, including Motorcura, an app that provided all the information required about your automobile. Excerpts.

No team, no company

We ran out of funds too soon and I was unable to build a good team. I was keen on having a good set of people to run the startup, but I failed to do so. Apart from these, there were other issues as well. We did not have a concrete business plan before starting up. We had hired freshers and inexperienced people to take on the roles of developers. This did add to the costs not to mention a, additional waste of time.

From Kochi to Bengaluru

Having come face to face with failure at Kochi, I decided to relocate to Bengaluru and start afresh. This time, it was all about the world of rents and real estates. The company was called Simplymovein.com. I was working along with another person to help run the operations of the company. Soon the firm had built a team. But, due to a few conflicts of interests, I chose to move on. The firm, however, is still existing and run by the members of my former team.

My family stood by me through the ups and downs

My parents were very supportive. In fact, for Motocura, a product produced by Genzcom Technologies, my father had funded me. My mother was also supportive and had given me a lot of strength to pursue my passion.

Now, however, they want me to be financially stable. They want me to join a firm and earn an income.

Lessons learnt

I am 'okay' with failures. I never give up. The sort of experiences that I have gained through running a startup cannot be traded for anything else. What I have learnt and what I would like to share with other aspiring entrepreneurs is: Don't give up. Take a chance and do what you love. Every attempt teaches you a new lesson that is bound to help you better the task each time. Be positive at all times.

No startups for now

I am not too keen on starting a company of my own at the moment. I would probably join a startup firm where my skills and experience could add value to the firm.

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