Why Zomato CEO Deepinder Goyal thinks 'I want to make a lot of money' is bad reason to start a company

Zomato CEO Deepinder Goyal is firmly of the belief that the reason 'I want to make a lot of money' is a bad one to start a company. "I see a lot of founders starting a lot of companies, and I ask them why did you start this company, and the answer is 'I want to make a lot of money'... I don't think that works, because that leads to bad governance calls... that's not the purpose with which you should start a company," he said at the ongoing Startup Mahakumbh in New Delhi.

Addressing a packed hall at the event, Goyal advised entrepreneurs to be led by passion and drive while building the company of their dreams, and cautioned that starting a venture with the sole desire of making money won't work and may lead to "bad governance calls".

Zomato CEO's advice to aspiring entrepreneurs

Sharing an advice for aspiring and new entrepreneurs, Goyal said, "you should be so passionate about something, you should be willing to risk your life for it, only then you are able to build a company of your dreams". "That's the only piece of advice I have... do it with passion, don't do it for money," he said.

Talking of Zomato, Goyal said that the company's culture of embracing disruption and being paranoid in order to evolve and stay ahead, is driving innovation in its business. Sharing the mantra for Zomato, the celebrity startup founder said that for Zomato it is "how do we disrupt our own businesses" and not become complacent.

Goyal said "Zomato has a business plan competition going within the company, which is going to offer funds to a small team which will disrupt the businesses that we are in, and that could lead to Zomato version 5 or Blinkit version 2."

No drones for Zomato
He shot down a suggestion from the audience about drone delivery being the new frontier for Zomato and said "it is not going to work out".