Spectacular turnaround in the digital economy and the aggression of investors to invest in these startups could lead to a hiring spree. But are we going too fast…?Continue reading
Currently, I am in the middle of interviews to fill several positions at Artha and one of the first questions I ask candidates is why they are changing jobs? The common answer I receive is that they are looking for growth. Most of these people have been at their current jobs for less than 24 months, so it makes me wonder whether the growth they seek is truly in terms of experience or in the size of their pay-check. Usually, it is the latter and their feeble attempt at answering this truly important question hurts their prospects with us as it does with most employers. Allow me to explain.
I have been a part of the workforce since I was 16 years old and the first job I got paid for was in my first year of college at the age of 18. In the next 4 years of college, I went through 4 jobs and ran 2 businesses from my room. One of those jobs was selling retail jewellery which I did throughout my 4 years. In that, I found my calling i.e. sales. My next job was door to door sales, a position I held for 5 years before becoming an entrepreneur within the same organisation. When I came back to India, I went through 3-4 jobs in a (relatively) short span of time before deciding to dive full-time into setting up Artha.
Having cycled through almost 10 jobs I am in no way advocating that a person should not change jobs or look for better salary packages. In a free marketing and capitalist economy this is exactly the type of behaviour that is expected and encouraged. However, I could, as I expect anyone should be able to decide whether they love a company/opportunity/job within the first 6-12 months. Therefore, if I was investing any time beyond that in the company, it meant that I was certain I would make a future for myself there.
It’s not that I didn’t feel like quitting my jobs several, several times. For example, there were times when I felt that I was going to be stuck in my position for ever or that I was getting looked over for promotions or that I was getting jaded, but I stuck it through those times. Then seemingly out of nowhere a new opportunity, office or position would open up and due to the fact that I was there at the right time, as the right person, just like that the juggernaut was rolling again.
So I feel that if temporary situations would have affected my decision to stay with the company, then that should have happened in the first 6-12 months, because in my opinion, that is usually the timeframe when a person should have decided whether they like the job role, the boss and can live with the hygiene factors at their workplace. However, if it takes over 24 months for someone to decide whether their current job will excite them or not, that doesn’t build my confidence in your assessment abilities or more likely questions them.
There could be several situations that could have forced you to change your job (location change, family obligation, bankruptcy) and these might give you a good story to tell that is both convincing and genuine. However, if you are changing jobs for “growth” related issues but it took you more than 24 months to realise it, then you need to have a bloody good story for me to believe you (and my standards are high).
Vinod and I have been playing around the idea of setting up our own version of EIRs (Entrepreneurs-in-Residence) at
So, I read about EIR programs and best practices today, and as Vinod has had previous experience with these programs, I believe we could build a similar program at Artha which will be beneficial to both, the entrepreneur and us.
EIR programs have existed for a while in the developed VC eco-systems, several CVCs and US universities have successfully utilised the EIR position for their requirements.
For Artha Venture Fund’s requirements, I found a few articles that provide a good context on what I’m looking for.
- So, What The Heck Is An ‘Entrepreneur In Residence’ Anyway?
- What Is An Entrepreneur-In-Residence?
- Time to Get Back to Work: Joining Accel as Entrepreneur in Residence
- 3 Benefits of Hiring an ‘Entrepreneur-in-Residence’
I am convinced that we should try hiring an EIR for a 6 to 12-month period and test out whether this would work for
The objective for the EIR would be to work on creating a business plan while simultaneously working with the fund team on evaluating start-ups for investments and helping the investee companies. Therefore, the program can only be for people that have been a part of a founding team (or core team) of a funded start-up, big or small.
While many of the details are yet to be worked out (and I will share them in future posts), here are some that come to mind-
- Contract period: 6 months with a mutual option to extend for 6 months
- Salary package: 8.00 L / annum (includes a 5% communication allowance)
- Work timing:
- 9 am to 7 pm
- Monday- Saturday
- Perks: laptop, cell-phone, company paid phone service and a desk
- Minimum requirement:
- Attending all evaluation sessions
- Helping portfolio companies
- Writing their own business plan
While most the EIR programs have left the choice of where to focus his/her entrepreneurial energies to the EIR, my fund (as Vinod will rightly remind me) does not have the luxury of millions of dollars coming to its coffers in management fees
Therefore, I want to make it clear that we are looking to pick EIRs that have a tech orientation and would like to work in B2B, B2C or B2B2C start-ups (but nothing in deep tech for now).
Some of the plays that have my team and I interested are:
- PSA: On the lookout for Consumer Brands
- Who Will Save India from Bad Customer Service
- Are Capsule Hotels the Future of Indian Hospitality?
- Contact Management Solution for Gifting
If would like to apply for the EIR position, please fill out this form and attach your resume.