Anupam Mittal's poker mentality: Shark Tank India judge shares secret of success
PremiumAnupam Mittal, a legendary name among Indian entrepreneurs, has shared his secret of being a successful entrepreneur.
Anupam Mittal is a legendary name among Indian entrepreneurs. The shark investor, who successfully created Shaadi.com, explained his secret of being a successful entrepreneur in a LinkedIn post.
As per Anupam Mittal, diversification is not the key to creating wealth. He disagrees with money managers who believe so and gives his two cents on the strategy. He believes, on the contrary, one has to put everything at risk to become wealthy.
“Money managers think the way to create wealth is to spread your risk but ask any successful entrepreneur about their journey and inevitably you will find that they have gone ‘all in'," said the billionaire investor, who is one of the judges in the reality show - Shark Tank India.
At the same time, Mittal seems to stress on the fact that everyone should follow what works best for them. He definitely doesn’t want to impose his theory on other entrepreneurs.
“Ultimately I think it depends on what works best for you as a person, & how much risk allows you to sleep well at night," he added. “Here's what works for me. What about you?"
Anupam Mittal shared a clip from his interview with Raj Shamani, who runs a successful talk show called “Figuring Out". In the interview, the Shaadi.com founder says that he became a multi-millionaire in his early 20s after the first dot com boom. It happened after his company had turned out to be worth $40 billion.
However, when the dot com collapsed, the company lost all the money and went into debt. Anupam says that he had become rich and then lost it all. However, it did not take away his ability to take high risks. He says that, even now, his risk-taking ability is quite high.
Mittal says he considers himself like a poker player, who is willing to risk it all in order to win the game. He remembers that time when he bought the Shaadi.com domain for $25,000 even though everyone advised him against it. “That changed our fortunes," he said.