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Transcript of Entrepreneur Journey and Learnings- India
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MBA 2nd year students
Chandu
Feb 11, 2016
The Entrepreneurial Journey
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Agenda
A quick backgroundKey learnings on various fronts- entrepreneurial
Post entrepreneurial journey- Investor, advisor
India opportunity, what we can do, trends
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3
The story
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1987The start 5 IIMA grads start South Indias frstspecialist industrial MR company
1990-96
Client commissioned market research Strategic assignments across specifc domains/
industries Indias frst syndicated chemical /petrochem etc
studies
ro!th phase" #arnin$s a%o&e a&$"
Scopes e&olution o&er the years'(er 1
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1999
!u" out o# 3 #ounding partners #ntry o) *n$el In&estors +ompany re)ocus and chan$e o) name *&atar ,- )resh start Mo$e to otcom .,. / industry content- %e&s'
(eatures and Articles #or $arious portals' industr"reports) product/ market profles
Scopes e&olution o&er the years'(er ,
1997-99
Trou%le %et!een partners- *i+ering perceptions /risk / &illingness to stretch Compan" #aces closure in a gro&ing market ,artners #ora" into other things
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,00,
*otcom bust Compan" #aces closureagain
Mo$e to&ards no!led$e process outsourcin$23 business*&atar 4- )resh start yet a$ain5%e& name to re-ect intentSearch )or de%t fnance
1sto&erseas maretin$ )oray
(enture capital frm enters *n$els eit
Mo$es into databases' content enhancement andorganisation' !.! data ser$ices
,00-06
%e&er o+erings 0 I, research' medical content
100 o&erseas )ocus Induction o# o$erseasmarketing personnel
,004
Scopes e&olution o&er the years'(er 4
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,007
Strate$ic in&estor enters : (+ eits !ith 8times Acquisition o# a signifcant stake b" a team&ho are pioneers in !,1
,008-10
%e&er lines 0 2ibrar" In#ormation 4echnicalSer$ices' Master *ata Management' etc
More technolog" #ocus
Induction o# senior management personnelreater integration &ith parent group incertain areas
Scopes e&olution o&er the years'(er 4 $ro!s5
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Other entrepreneurial (ad)ventures
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Key learnings
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Entrepreneurship Vs Management
Entrepreneurship
reating so!ething new-product, !ethod of production"delivery, !ar#ets, source of raw !aterial, $usiness
!odel
hallenges the %nor!&
Management
Protects
'tewardship of eisting resources
Surat- I )elt moti&ated seein$ the u;arati
entrepreneurial spirit !hile !orin$ )or a u;arati
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What is the Role o the Entrepreneur!
Opportunity recognition
ar#et uncertainties
*ealing with the future
+is# ta#ing usinesses, financial and personal
+esource gathering
Profits " +eward
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"urdles in starting up a business
Lack of the right business idea
Complicated regulatory efforts Own financial risk
Lack of courage
Lack of right founding partner
Lack of equity
Lack of debt capital
Know-how-deficit Lack of contact clients/customers
Economic cycle
usiness en!ironment
"ear of failure
#upport by family and friends
Lack of time Lack of entrepreneurial skills
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$ E%&'E('E%E)' $*L*&+ )%K%O,%
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=3RM>?* =3R S>++#SS@* A . A + A A # B>CC3
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(tarting )'
8no& "oursel#9ho "ou are
9hat "ou can do
:o& "ou can do it
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*sy+hologi+al hara+teristi+s o Entrepreneurs
eed for achieve!ent .ocus of ontrol
Internal
/ternal
+is#-ta#ing Prosperity
Tolerance for a!$iguity Type 0 ehaviour
I!patient, ti!e urgency, driving a!$ition, co!petitiveness
eed for Independence
I !onder5 id I / do I really ft thisprofleD
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ore ompeten+ies -e.er+ise/
9hat are "ou reall" good at;Special skills' kno&ledge'e
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Begin
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(ot aspe+ts are +riti+al# sometimes, more so''
%egotiation%et&orking
Communication/ presentation
Inter0personal skills
Creati$it" and inno$ation0 ,i$ot=
Adaptabilit" -e
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Understand the game..who are you? Exer.
Eo! !ould you #S+RI.# yoursel)D
A tale o# t&o marketing consultants
I work with small companies as theiroutsourced marketing manager, but I alsowork alongside existing marketing
departments in larger companies when theyneed an extra resource.
9ho sho&s no kno&ledge o# their sub@ect or &hat the"are looking #orD;
9ho #ocuses the audience on their e
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ts a +y+le# you ma%e it irtuous or i+ious
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3o you really $ant to be on your o$n !
1ou don&t necessarily have to $e an entrepreneur 2 Its a
lifestyle choice !ore than a career choice
3nderstand the ris#s involved
e prepared to $ootstrap, wor# hard, !a#e sacrifices and fail
Overnight success usually ta#es a$out 45 years
I am not sure I really f$ured this all ou.ut this is ho! it turned out5
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W"A4 W)R5(!
E3M# IR# 3C?G
S3M#sum 3=TEIS''''''''""
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)pportunities or Entrepreneurship ndia
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)pportunities or Entrepreneurship ndian E+onomy
46th century -/urope, 75th century 20!erica, 74st century -
li#ely 0sia&s8
9old!an 'ach -:/cono!ics of Knowledge :if eploitedproperly, could lead India into world&s ; $iggest econo!ies $y75
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77)VA4)7 V(8 E74RE*RE7E9R("*
Ei$h
Inno&ation
?o!
?o! #ntrepreneurship Ei$h
2apan
#weden
#ilicon
0alley
*srael
)3K
*%*$
.ong Kong
India-
MoreHu$aadthanSystemic
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3)E( 4E" MA44ER! )R :)B(!
(S" ?3< T#+E
Tra&el and tourism
sector >s6.. trillion EF.GbnD GB o# Indias *, (ore< earnings0 EFHbn 3GH million @obsJ 7B total
emplo"menthttpK//&&&li$emintcom/,olitics/h3e@sL!L%NO!196LarFP2/4ra$el0and0tourism0industr"0to0gro&0G50in0.OF50reporthtml) httpK//&&&nasscomin/robust0gro&th0indian0itbpm0industr" )
EIE T#+E
IT- .2M sector >e$enues o# >s 75O trnEFHL bnD
6RB o# India *,
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W"A4( M*)R4A74!
I4 IS A%T 4C: 4:A4MA8 !USI%SS S%S
I4 AC4UA22T *1S %14MA44>9:A4 4C: I4IS
9:A4 4C: IS 1U> C1>C1M,4%CT
I4' !4' %4' *SI%'MA%AM%4I%(>AS4>UC4U>' 4C
#CTR#2R#C#>RSEI2 IS C3T ICC3(*TI3C C3RIT IS T#+EC3?3GIT IS M3C#TIJIC TE#S#''""*C M3R#5
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Traditional/ family biz New gen entrepreneurs
Strong family ties/ overhangLargely independent- espy on mattersfinance
Source of money- ??Mostly legit- salaries/ sale of company/dividends
Transactional/ trader mindset Business building/ LT oriented
Biz/ personal income mingling vhigh
Early stages yes! later- rarely E"ceptions are there
Traditional businesses- largely seetouch feel- domestic
#e$ economy businesses- largelyintangible- globally oriented
%eliance on native intelligence %eliance on data! logic! analysis
&ntuitively understands money'verall intelligent( financial literacylevels vary
#M#R#C+# 3= C#< *##CTR#2R#C#>RS
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.usiness Model Inno&ations
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The ?on$ Tail
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K
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(irtual oodsD5D
%es.O'L.O crore (T .OFH0F5
(lipkart India0re$enue >s 7'35FGcrore in March .OF5
Rs ,,"8N cr re& =G1N 67000paid su%s
http://www.thehindu.com/todays-paper/tp-features/tp-metroplus/a-game-of-cricket-closer-to-reality/article8124841.ecehttp://articles.economictimes.indiatimes.com/2016-01-31/news/70222599_1_irctc-website-tatkal-online-ticket-bookinghttp://articles.economictimes.indiatimes.com/2016-01-31/news/70222599_1_irctc-website-tatkal-online-ticket-bookinghttp://www.thehindu.com/todays-paper/tp-features/tp-metroplus/a-game-of-cricket-closer-to-reality/article8124841.ece -
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=undin$ Inno&ations
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Deal discovery and fulfillment platforms: (Angelist of India) LetsVenture, Termseet, A!Ventures, Applyifi, "#uity$rest
%&" "'canges %", *%" poor traction
+amily offices individual investment veicles
Incu-ators consultant services optg partner investor com-ine(. $om-inator clones)
*lternati&es in India- #Ouity
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$ro/dfunding 0product film pro1ect etc funding (Indiegogoic3starter) 0 etto, 4is-erry, $atapoolt, 5angDe 6
7eer to peer lending
$ustomer or vendor creditor 8funding8
Loan guarantees8 to provide financing for #ualified candidates
oldman %acs, /ose ; program trains /omenentrepreneurs around te /orld, announced a partnersip /it te Danis
government to provide loan guarantees to #ualified program graduates
troug Tan?ania@s $5D* *an3
$lassic trade receiva-les (-ill discounting) factoring pac3ing credit
guarantee (eg "$$)
httpK//"ourstor"com/.OF5/O6/sme0lending0startups0address0unmet0fnancial0needs0attracting0millions0capital0in$estors/) httpK//articleseconomictimesindiatimescom/.OF50O30OL/ne&s/576HHLF3WFWcapital0-oat0sai#0partners0startups
*lternati&es in India- Con eOuity
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So time )or a chec" ?oc iya ;aayeD
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Motherhoodstatements =ind your sweet spot and ecel in it8
hange the way you play the ga!e8 Or change the ga!e> Personal and professional inter-!ingle
=ocus on the effort and outco!es li#e a $etter product
"service, happier e!ployees "partners, satisfied ? repeat
custo!ers888 onetary and !aterial success is a logicalconse@uence8
Keep learning, innovating, changing, adapting, ? to !ove on
'araswati 2 .a#sh!i correlation>
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4han% ;ou
*nd fnally'
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enter for /ntrepreneurial .eadership, IT' Pilani
Prof Para!eshwar P Iyer, Indian Institute of 'cience 4"ler lliston httpA""
$plan8$er#eley8edu"inde8cf!BsectionC+esourceD75enter- Ti/ !e!$ers " sessions Infoedge httpA""www8walterhottinga8co!"organiEation-develop!ent"greiner-
evolution-revolution-growth-!odel-for-organiEations" httpA""www8pitts$urghfuture8co!"innovation"entrepreneurs8ht!l Farious !agaEines
Reeren+es
http://bplan.berkeley.edu/index.cfm?section=Resource%20Center-http://bplan.berkeley.edu/index.cfm?section=Resource%20Center-http://www.walterhottinga.com/organization-development/greiner-evolution-revolution-growth-model-for-organizations/http://www.walterhottinga.com/organization-development/greiner-evolution-revolution-growth-model-for-organizations/http://www.pittsburghfuture.com/innovation/entrepreneurs.htmlhttp://www.pittsburghfuture.com/innovation/entrepreneurs.htmlhttp://www.walterhottinga.com/organization-development/greiner-evolution-revolution-growth-model-for-organizations/http://www.walterhottinga.com/organization-development/greiner-evolution-revolution-growth-model-for-organizations/http://bplan.berkeley.edu/index.cfm?section=Resource%20Center-http://bplan.berkeley.edu/index.cfm?section=Resource%20Center-http://bplan.berkeley.edu/index.cfm?section=Resource%20Center-