In today's post, we will be sharing the interview of a successful woman entrepreneur who is a self-made millionaire. Aditi Balbir is an ISB alumnus, and investor and she is the woman behind V Resorts. Today we will be sharing her entrepreneurship journey as a part of our In The HotSeat project. Let's start with the interview,
1) Tell us something about yourself?
Ans: I am currently living in Delhi, and before developing an interest in entrepreneurship, I worked in the corporate sector for about 5-6 years. I have been working as an entrepreneur ever since. I started V Resorts in 2014, and now I am looking forward to starting my second venture.
2) What's the story behind the creation of your startup V Resorts?
Ans: Back in the year 2014, there were no places where you could go for a short vacation on a limited budget. There were only expensive 4 and 5-star hotels available and a few boutique properties about which there were no ratings and reviews available. So we decided to be the quality standard expected at the boutique properties.
3) Please tell us what you look for in a startup before investing in it, and you invest in which type of startup?
Ans: I look for startups that work in a sustainable manner. Startups that will run in the long term without hampering the growth of the future generations, by using methods like renewable energy or using new materials that don't exploit the natural environment.
4) Is it a good idea to drop or quit college/job to make a career in entrepreneurship?
Ans: It depends on the type of person you are. If you are a risk-taking type of person, then dropping the degree makes more sense for you. Personally, I would keep the job, as I am a more cautious type of person, and this would ensure that if it doesn't work out then I will have a backup career plan.
5)What challenges did you face in the starting days of your entrepreneurship career and how did you overcome them?
Ans: The beginning days are all about building the foundation of the company. There were no such big challenges in the starting days. The main problems I faced during my starting days were finding the right people, setting up the manpower, and finding the correct work procedures. Later on, the challenges will change and it will be more about scaling the business and adding new features at low cost.
6) Is it a good idea to pursue a distance or online MBA? Which is a better option full-time MBA or an online MBA?
Ans: Academic part is fine with both the MBAs but an online MBA will not help you to build a network of good friends which are very important in life and career. Whereas a full-time MBA will not only give you good lifetime friends but it will also help you to meet like-minded people and build a good connection with them which may help you in the future.
7) Is it still safe to enter into the eco-tourism industry in the COVID times?
Ans: Yes. In fact, this is the best time to enter the eco-tourism industry, as a lot of people have plans to travel and take a vacation after a lockdown that lasted for months. Hence it has a lot of potential in the current scenario.