Kruti Patel Goyal says calculated risks are vital for entrepreneurial success

In Britain, nearly one in ten Christmas gifts are now second-hand, reflecting a growing trend towards sustainability and re-use. Kruti Patel Goyal, the chief executive of Depop, a tech firm specializing in second-hand fashion, is significantly influencing this shift. Previously, Goyal held the position of chief product officer at Etsy, where she cultivated knowledge and expertise in e-commerce and technology that she now applies in her current role. To foster entrepreneurial growth, Goyal emphasizes the importance of identifying the most pressing problems that innovative solutions can address. She believes that understanding these issues is crucial for demonstrating the value an entrepreneur can bring to the market. By effectively highlighting a specific problem, entrepreneurs can carve out a niche for themselves and grow their businesses accordingly. Moreover, Goyal advocates for boldness in entrepreneurship as she describes the necessity of taking calculated risks. She argues that fear of failure should not deter individuals from pursuing their goals. Instead, it is through taking risks that significant learning occurs, ultimately enabling growth, innovation, and success in business ventures. This philosophy resonates not only within the fashion industry but across various sectors, inspiring a new generation of entrepreneurs to embrace uncertainty and view failures as learning opportunities. By fostering an environment where calculated risks are encouraged, Goyal is paving the way for a more vibrant and progressive entrepreneurial landscape.