Global Entrepreneurship Week celebrates the transformative power of innovation and collaboration, showcasing how entrepreneurship truly is for everyone. In this special feature, we sit down with Siddharth Shankar, a Strathclyde MBA graduate, entrepreneur, and leader behind the $500M+ partial sale of Tails Trading Ltd, to explore his journey, challenges, and insights.
From launching his first business as a computer science student to pivoting during a global pandemic, Siddharth鈥檚 story highlights the importance of adaptability, collaboration, and the entrepreneurial mindset. With candid reflections on his time at the 糖心视频 and the pivotal role it played in shaping his career, Siddharth offers valuable lessons for aspiring entrepreneurs and professionals alike.
Siddharth, can you tell us a bit about your background and what led you to become an entrepreneur?
Absolutely. I began as a computer science engineer, and I actually started my first business while I was in my second year of engineering. Since then, entrepreneurship has been a big part of my life. After some early ventures, I moved to Glasgow in 2016 for an MBA at Strathclyde, which was a fantastic experience. Strathclyde offered a collaborative environment and a lot of support for entrepreneurial ideas, especially after Brexit was announced, which limited hiring opportunities for international talent. It made sense to go back to entrepreneurship, and with the support from the university including Strathclyde Inspire, I started a business with another Strathclyde alum from my MBA cohort.
How did your experience studying at the 糖心视频 shape your journey and prepare you for your role as an entrepreneur? Were there specific programmes, mentors, or opportunities that had a significant impact?
Strathclyde鈥檚 MBA program was a real game-changer for me. It brought structure to my thinking and helped put terms to things I already understood but couldn鈥檛 articulate, like 鈥渆conomies of scale.鈥� Professor Phillip Taylor was a huge influence鈥擨 first met him when he visited India and this was my first experience of a Strathclyde Professor. He was my go-to mentor from day one, helping with everything from minor issues to major strategic decisions. Beyond the professors, learning alongside a diverse cohort was invaluable. The diverse backgrounds and experiences of my peers acted as a kind of 鈥渇ocus group鈥� for my ideas, which helped shape my approach.
So you really benefited from a collaborative approach?
Absolutely, collaboration was key. The University was incredibly supportive鈥攊t was never a case of, "Go away, we鈥檙e too busy." Instead, it was always, "What do you need? How can we help?" That level of support was so reassuring, especially as an immigrant and foreign student. It gave me a real sense of comfort and belonging.
What challenges did you face when you first launched your business, and how did you overcome them?
The initial concept was to help British brands access Asian markets, but we encountered a lot of scepticism, especially among smaller, family-owned suppliers. Many questioned whether there was a market for their products in Asia. Financing was also a challenge, but I didn鈥檛 want to rely on outside investors. Using my finance background, I set up trade finance and invoice factoring to fund operations entirely through revenue and profits. It was challenging but rewarding to build the business on sustainable financial principles.
What lessons have you learned as an entrepreneur that you wish you鈥檇 known when you started your journey?
Looking back, I wish I had understood the importance of learning before diving in鈥攜ou need to walk before you can run. As an entrepreneur, you鈥檙e often buzzing with ideas and passionate about your vision, which can lead you to discount the value of experience. You might think, 鈥淚 know it all, and anyone who disagrees doesn鈥檛 want me to succeed.鈥� But the reality is far from that. Experience is irreplaceable.
Not all experience will be directly applicable, but what matters is learning to analyse and determine what鈥檚 useful and what鈥檚 not. The only way to gain that ability is through exposure and time. One of the biggest lessons I鈥檝e learned is to value the insights and experiences that come your way, even if they don鈥檛 seem immediately relevant. They often prove invaluable in ways you can鈥檛 predict.
Can you share a significant turning point or breakthrough moment for your company?
The pandemic brought a significant turning point. My business partner had to return to China, leaving me to pivot on my own. Instead of focusing solely on helping British brands enter Asian markets, I decided to expand into owning global brands and selling domestically in the UK. This shift allowed me to work more closely with local clients, like UK supermarkets, which was invaluable during the pandemic when international travel was limited. This pivot allowed the business to grow despite the challenges.
You recently sold part of your company for $500M+. What factors influenced your decision to sell part of the Tails Trading Ltd?
A few factors influenced the decision. I recognised that my own limitations were beginning to hold the business back. I felt it was time to bring in a new team with the right skill set and vision to take the company to the next level. The buyers shared a vision that aligned well with our mission, and, of course, the financial offer was also a factor. The sale process was complex and involved a lot of negotiations, but ultimately, it was the right move for the business.
What has been the most rewarding part of the sale process, and what has been the most difficult?
The most rewarding part was knowing the business would continue to grow with the right leadership in place. The challenging part was explaining my decisions to a corporate board, as I鈥檇 been used to making decisions independently without a board鈥檚 input. The sale taught me the importance of viewing decisions from a broader perspective, something I鈥檒l carry forward in future ventures.
What advice would you give to aspiring entrepreneurs, and what skills do you think are essential for success?
My main advice is to think long and hard before diving in. Entrepreneurship is fulfilling but comes with high risks. I鈥檇 also say to prepare for chaos鈥攑lan for success but be ready to handle setbacks. Essential skills? Be open to advice, value failure as a learning tool, and remember that success is temporary. Staying true to your original mission is key.
What is the most important component of the startup journey, e.g. was a co-founder or team important when starting out? At what point did you feel that the team was the 鈥榬ight team鈥�?
It鈥檚 crucial to assess your needs and think of a co-founder or team member as you would any hire. Are they bringing a skill set you need? Will they help you grow? But ultimately, the right team is one that believes in the company鈥檚 vision as much as you do. When your team feels they鈥檙e in the right place, that鈥檚 when you know you鈥檝e got it right.
The theme of this year鈥檚 Global Entrepreneurship Week is 鈥淓ntrepreneurship is for Everyone.鈥� How does this belief align with your own journey?
I agree wholeheartedly, but I think people need to understand the difference between 鈥渆ntrepreneurship鈥� and 鈥渂eing an entrepreneur.鈥� 鈥淓ntrepreneurship鈥� is a skill set, while 鈥渂eing an entrepreneur鈥� is a career choice. You don鈥檛 have to start your own business to apply an entrepreneurial mindset. It鈥檚 about bringing value, driving your team, and understanding the bigger picture. It鈥檚 for everyone.
What's next for you in your journey?
For now, I鈥檓 joining some private equity firms and other major players in the CPG (consumer packaged goods) and retail sectors. They value my experience, so I鈥檓 looking forward to helping them with their goals. Long term, I want to create a wider impact, possibly by advising entrepreneurs. Who knows? I might even return to India at some point!
Finally, what was your favourite thing about studying at Strathclyde and living in Glasgow?
Glasgow was wonderful鈥攃ontrary to the weather, the people were very warm! Coming from a different educational system, the practical, teamwork-oriented approach at Strathclyde was refreshing. It鈥檚 designed in a way that makes it hard to fall behind. It was a great experience that truly worked with me, not against me.