India’s unicorn startups—those rare companies that reach a billion-dollar valuation—aren’t just business powerhouses; they’re a testament to the resilience, innovation, and adaptability of the entrepreneurs who founded them. From e-commerce to fintech, Indian unicorn founders have transformed markets, disrupting traditional industries and putting India on the global startup map. But their journeys to success are packed with hard-earned lessons—some of which can inspire every aspiring entrepreneur. These lessons reveal not only strategies for building a thriving business but also the mindset that helps founders stay motivated through setbacks and rapid growth alike. Below, we explore eight invaluable business lessons shared by India’s unicorn startup founders.
1. Identify and solve real problems
Many Indian unicorns, like Ola and Zomato, started by addressing gaps in the market. Their success lies in tackling real-world issues that impact millions, from transportation to food delivery. By solving an everyday problem, they ensured that their products or services were not only desirable but essential.
Look for pain points in your community or industry. Developing a product that addresses a pressing issue increases your chances of resonating with a wide audience.
2. Embrace adaptability and change
Founders like Byju Raveendran of BYJU’S quickly adapted to shifts in consumer behaviour, particularly during the pandemic when online education skyrocketed. This adaptability allowed them to scale quickly and pivot to meet changing demands.
Be open to change and willing to pivot your business model when needed. Staying relevant often means adjusting strategies as market conditions shift.
3. Think big, start small
India’s unicorn founders didn’t begin with billion-dollar companies—they started small, focusing on building a solid foundation first. For instance, Flipkart started as an online bookstore before expanding into the e-commerce giant it is today.
Don’t feel pressured to launch with everything. Start with a core offering, perfect it, and then expand based on market feedback and growth opportunities.
4. Focus on customer experience
Companies like Swiggy and Paytm have thrived by putting customer satisfaction at the forefront. Swiggy, for instance, focused on improving delivery times and user interface, which helped it build a loyal customer base.
Listen to your customers. Prioritise their experience by making processes smooth and solutions convenient. Happy customers lead to repeat business and valuable word-of-mouth marketing.
5. Build a resilient team
Unicorn founders emphasise the importance of hiring the right people and creating a strong, cohesive team. Founders of companies like Razorpay attribute their success to building a team that shares the company’s vision and values.
Invest time in hiring people who align with your values and are motivated by your mission. A resilient team is essential for weathering challenges and staying focused on long-term goals.
6. Raise capital smartly, but don’t depend on it
While capital is essential, founders like those at Zerodha have demonstrated the power of building sustainable models that aren’t solely reliant on external funding. Zerodha, India’s largest retail brokerage, has achieved unicorn status without heavy dependence on investors.
Focus on a sustainable business model and don’t rely on continuous rounds of funding to keep afloat. Raising capital can accelerate growth, but financial independence ensures longevity.
7. Learn from failures
Many unicorn founders faced failures before achieving success. For example, Kunal Shah’s first startup, FreeCharge, struggled initially before it pivoted into a widely-used digital wallet. These setbacks taught him valuable lessons in resilience and strategic thinking.
Treat failures as learning opportunities. Each mistake brings you closer to understanding what works, provided you take the time to reflect and adapt.
8. Innovate with a global perspective
Companies like OYO and Freshworks have built products that appeal to global markets. Founder Ritesh Agarwal designed OYO’s model for scalability, ensuring the brand’s standards could be maintained worldwide.
Think beyond local markets. Design your products and services to meet international standards, as they may one day cater to customers beyond your borders.
Building a billion-dollar company isn’t easy, but these lessons from India’s unicorn founders show that success stems from a mix of resilience, customer focus, innovation, and a willingness to adapt. Whether you’re a new entrepreneur or a seasoned professional, adopting these insights can help you navigate your business journey. Remember, each startup is unique, but the principles that drive success are often universal.
