Shark Tank India and how we fail to spot great talent lying beyond the realm of Unicorns
Reflecting back on his learning from business reality show Shark Tank India, Lenskart founder Peyush Bansal, who is also one of the judges on the show, said the big war of talent that we see today is because the recruitment processes are largely designed to look for people working with brand names and miss out on searching for potential.
“I went to Shark Tank to give advice to entrepreneurs. I came back learning more than I could give. Talent is not only what we see shuffling in the so-called unicorns of India, but it is sitting multi levels below, but we never reach them because our recruitment processes are largely designed to look for people working with brand names, we all see on TV, and not necessarily searching for potential (and this is why there is such a big talent war),” Bansal said, sharing his personal learnings in a social media post on Tuesday.
If companies can master how to spot this talent, it becomes a moat for them and a win-win situation as more talented people get the opportunity to grow and prove themselves, he added.
Bansal said that “thinking technology in solution of every problem is a must”.
“Pace of growth is changing and faster than we realise sitting in our corner offices. What would take 12 months one year back, is now taking one month and will soon take a day. This is because the depth at which startups are using technology to find innovative solutions to solve problems is very different. So, if we are still talking year-on-year in our conference rooms, we have lost the plot. Month-on-month, is bare minimum, and week on week ideal. Plus, thinking technology is the solution to every problem, and not just building a website is a must,” he wrote in his post.
The Indian franchise of the American show Shark Tank, which was launched in India last month, gives an opportunity for budding entrepreneurs in the country to present their ideas to experienced investors and business experts, also known as 'The Sharks'. The startup founders pitch their business and growth plans to the sharks, hoping to raise funds.
A novel concept on Indian television, the show on Sony Television received an overwhelming response from the budding entrepreneurs across the country but the judges have also drawn the ire of viewers for their controversial statements.