Entrepreneur Journey and Learnings- India

7/24/2019 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

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%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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6

Other entrepreneurial (ad)ventures


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7

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,%

*E$/&EC.%OLO+ (O&E%&*$L )%K%O,%

C M$'KE& EM$% )%K%O,%

"*%$%CE $0$*L$*L*&+ )%K%O,%

E &E$M 1EM(LO+EE# CO%"*E%CE )%K%O,%

=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-

Entrepreneur Journey and Learnings- India

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