"The Ideal Time to Startup Was Yesterday!"

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1. Tell us more about your company and your journey.

I am the co-founder of Codevector Labs. We help companies implement AI in their workflow.

I am a student entrepreneur and started in my first year of MBA at IIM Raipur.

Right after my MBA in 2019, I continued working on my passion and that is how I am here today.

2. How did you come up with this idea and go about executing it?

I saw that every company wants to implement AI in their workflow, however, they don't have the resources or funds to establish an AI team. This is where I saw a huge opportunity to establish a virtual remote AI team as an offering. We started becoming AI partner to multiple established tech companies and startups.

3. What has been your biggest challenge that you faced and how did you overcome that?

Though the standard issues of shortage of funds, team, etc are common with any startup, my biggest challenge was the lack of understanding on how to set the right profitable business model.

Being from non-business family background, I didn't have any idea how to set up a business. I started my startup while I was still studying, hence to manage the startup along with my studies at IIM was a very big challenge.

4. What do you think are the most important qualities of a successful entrepreneur?

Honesty, humility, and ethics are the core traits of any successful entrepreneur.

However, along with these an entrepreneur should be dynamic, open to criticism, and should be a magnet to attract talent pool.

He/she should always keep the interests of his team and clients above his own.

5. What are some of the most important factors for running a successful business?

Learning how to sell! Learning how to keep the team together in times of crisis!

6. What are your tips for the first time and aspiring entrepreneurs?

It's absolutely fine to make mistakes - just accept it and move on.

The ideal time to startup was YESTERDAY!

7. How can one overcome a hurdle of lack of funds when starting up?

One cannot depend on investors' funds to run operations. Client money is the best money! Do projects - get client money - re-invest in the business.

Initially start off with a business model that has a combination of both services + products.

Example: When you start, give services to other companies to make sure that revenues keep coming and alongside put that revenue into building your own product. When your product has reached a market fit and becomes successful, then stop giving the services and focus 100% on the product.

Interviewed by - Rajit Shubra Ghosh.