Aman Gupta, co-founder and chief marketing officer of boAt says that ‘many founders and companies do not have the right product-market-fit (PMF) but they start other unnecessary spending leading to their failure.

He counseled the youthful business founders to concentrate on the client and the product. According to Gupta, he learnt the value of having the proper product-market fit from his first firm.

“I have seen a lot of companies getting shut that don't find the product market fit but they do unnecessary spending. First have the product-market fit then you can spend on other things,” Gupta said while speaking at a fireside chat at the Startup Mahakumbh in New Delhi.

Recalling his initial days building boAt, Gupta said that he did not spend on having an office or getting himself paid so that to save money and reinvest it in the company for scaling the business.

“Whenever we got money, we put in into product and brand marketing. For some years, (cofounder) Sameer Mehta and I did not even take salaries,” he said.

While speaking on the entrepreneurial landscape in the country, Gupta said that India is now celebrating entrepreneurship and startup founders are becoming celebrities.

“We may have three Khans in the Bollywood or 11 celebrity cricketers in the country but everyone can become an entrepreneur,” he said.

Reflecting on his journey as an entrepreneur, Gupta said that it is not important to get success in the first attempt and his success was built on the failures that he faced in his previous start-ups.

Aman says, “I got success in my sixth attempt (boAt). There were a lot of companies before boAt that made earphones. What matters is execution of the idea”.

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Gupta said that in a country as diverse as India, there is no dearth of ideas and a company should work on subcultures in the country to reach the masses.