MBA Vs 10 Years Experience: This Is Sugar Cosmetics CEO Vineeta Singh's Pick

Between an MBA and work experience of 10 years, Vineeta Singh has a clear pick. Working in different roles for 10 years is what makes experience the winner here, according to the co-founder and chief executive officer of Sugar Cosmetics.

Growing up and seeing her parents work hard and earn less, Singh wanted to run the other way. "I learnt it's not the fastest way to get rich." Entrepreneurship is a high-risk, high-reward game, she said. For her, stepping into entrepreneurship meant much more than leaving her pay cheque behind.

A lifestyle that comes with stable salaries and certain spending is like golden handcuffs, according to Singh. Comfortable, but limiting.

In contrast, entrepreneurship teaches one to manage with the money that they have.

"There were days when I struggled to get through," said Singh. She was privileged to have her parents's support when her pocket was pressed. Sustaining through those times is important, she said.

Every single story will come with not just sparkling successes but failures that pull them forward. Once the business is set up, the jumps in revenue and growth are also tough until the initial thresholds are reached.

"Sustaining through the rough patch is what counts. A sense of purpose needs to push one to show up each day," said Singh.

Failures have been lessons towards better funding, capital, and management of the business. "Now having our journey, I've realised entrepreneurs come in all shapes and sizes," said Singh. Every dream will come with difficulty but moving forward despite the failures keeps the story going.

Bootstrapping her initial projects made money a luxury that came with difficulty for Singh. Due to this, she had to take on side hustles.

Side gigs may get the cash in, but this will mean that one's own money and the company's money merge. Good fiscal discipline means running the company on its own cash, according to Singh.

Paying oneself is more than an emotional act for Singh, as it builds liquidity beyond paper wealth for the founders. "I have always paid myself because factoring in your own opportunity cost is needed. It's also a liquidity vent for the founder," said Singh.

As more people, in the form of investors, team members or advisors, come in, it's important to keep the direction of the business aligned with the primary vision. Getting investors onboard may give space and resources for the business to grow, but it might also put a timer on the project, Singh said.

There may be some pressure to achieve the optimum potential within a time frame before the investors need to exit.

"A lot of decisions become harder, but on the other hand, it gives a cushion for finance," said Singh. When working with investors, keeping in mind a clear vision of the potential, scale and direction of the business is important.

There are strong parallels between running races and running businesses. In both cases, the end goal will be large and overwhelming, but it is important to work towards reaching the next milestone.

Singh mentioned how she would tell herself that she just had to make it till the next light pole. In business, the next light pole translates to the small stuff and pushing through tough quarters.

"Show up at the start line and you can figure out the rest," she said. By showing up each day, one can build something world class even when people have written them off, she said.