KATHMANDU, March 19: Do you have an idea that you believe has a lot of potential? What's stopping you? Straight from established and even new entrepreneurs, we have personal experiences and opinions that we hope will give you that nudge you need.
Our entrepreneurs share insights and pass on advice based on their own experiences.
Deepika Shrestha, Cofounder at Pack My Lunch
Operating since August 2012
I became an entrepreneur because I wanted to be my own boss and also because I didn't want the 9 to 5 routine. Now, I have no time limitations and I can work whenever I want to, even during weekends, if required. We also hire people who are inexperienced, so that's a good thing, right?
But personally, I don't think it's a good time to be an entrepreneur in Nepal because there's no infrastructure, and our political condition is still unstable which affects many things. Many potential employees are still migrating to Malaysia or to the Gulf. We need cooks but we can't match the pay scale they would get from working abroad, so it's tough. But I would like to say that people can find employment here in Nepal. We may not be able to match the income they make there but after cutting down the living expenses, the money they are able to send here is almost equal to what they would make working here and living with their family.
Pemba Dorjee Sherpa, Cofounder at SherpaShah
Desperate search for missing girls as nearly 80 dead in Texas f...
Operating since December 2014
We cannot always wait for the government to create sustainable environment and facilitate growth of businesses. Entrepreneurs believe in themselves and take calculated risks in order to realize their dream and create opportunities for people (staff and customers). I see many people have creative ideas and inspiring vision. If more of us shaped our passions into entrepreneurial ventures, the national economy would be more dynamic and resilient.
I became an entrepreneur not just because of the potential for financial gains but also since I realized that I was losing time by not doing anything. I had a lot of ideas I was confident would work out. While money was an important factor, it’s not the only one. I don’t see myself doing boring jobs for others just for the sake of money. I have social causes, and I wanted to find ways to financially sustain them.
Smriti Singh Suwal, Cofounder at KTM Couriers
Operating since March 2013
I think it’s a good time to be an entrepreneur here because there are a lot of sectors still unexplored. This means that we have a lot of opportunities, and any new idea, backed by research and a clear vision, can be a winner. I also see a lot of people returning from abroad, and with a growing market and high technology, being an entrepreneur is great. Personally, it’s been wonderful for me to be able to follow my passion. We’re also generating jobs for young people. Of course, as an entrepreneur, making money is an important factor. But we don’t work with profits in mind for the first couple of years. There’s no fixed working hours, but because you love it, it’s all great.
Sajina Karki, Proprietor, Sattva the Stylebook
Operating since July 2012
Starting my own business wasn’t an easy task and staying back wasn’t my choice, either. I researched for a couple of months and started off. Three years back, online business was not that familiar frame in the context of Nepal but I was fascinated with the fact that the number of people using smartphones was increasing and it was the same with the social networking sites, too. So I thought of exploiting that phenomenon. I’ve noticed another thing lately that not only people are busy these days, they have become more impatient. So my approach was to save time and energy by letting them compare products and their prices while sitting in their office or home in just one click.
If you have passion, perseverance, presence of mind and patience, you should start your own business. I’ve noticed that the country’s situation has nothing much to do if your effort is sincere. If you have positive energy flowing through you, everything will fall in place. Give it a try if you have a good idea, the right amount of capital, and creativity. It’s easy to become overwhelmed in the early stages of starting a business but the key is to have a working plan to stick to.
Ujjwal Chapagain, Managing Director at The Himalayan Rabbit Farm
Operating since August 2012
Why entrepreneurship? It’s because it offers you the best platform to be creative and to implement your ideas. You don’t get the same freedom when you’re working under someone else. As an entrepreneur, you’re testing yourself and it’s very impactful. Whether you feel rewarded or you fail, you learn from both experiences. I see there’s appreciation for startups right now but we still have a long way to go in terms of conducive environment when it comes to technical and financial aspects.
Personally, I feel rewarded that we introduced rabbit meat in a commercial way in Nepal. Now there’s a good market and it feels great that we support many farmers’ livelihoods. So I believe that we should try out our ideas. But first-time entrepreneurs should remember that it can get overwhelming in the beginning. One should be prepared for anything. Before starting a venture, there should be need identification of the market as well as examining whether you have the required skills and resources. Last word of advice: be prepared to work extra hard and sacrifice your free time.
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