Shopclues History
Leave fear, ego, jealousy and insecurity
out of the door when you decide to be an
In USA Ecommerce is Dessert, In China It Is A main course But In India It Is A Seven Course Meal.
In Modern World, You Die From Indigestion And Not From Hunger.
In Modern World, You Die Because of Friends Not Enemies.
Think best, tone it down to better, tone it down to good and tone it down good enough. If you do that way, you can start good enough now and will achieve best in near future which will be better than trying to achieve best in the attempt.
Vision, capital and team are the top three things that are required to create a modern world successful startup.
In Modern World, You Die From Your Own Mistakes Vs Someone Else.
As an entrepreneur, you do not take no for an answer.
As an entrepreneur single biggest thing you can master is power of prototype.
 You are ready as an entrepreneur when you are not asking yourself when will I be ready to start on my own.
Do not give up. Entrepreneurism is a real test of conviction, resilience, perseverance, hard work and adaptation! Follow your dreams and obsessions!
While forming a team for your startup always remember 5Cs: commitment, capability, capacity, character and craving of your team members.
Never give up.
Raising money is like dating someone that may result in getting married or spending rest of your life together, so same human pschology is at play.
Leave fear, ego, jealousy and insecurity out of the door when you decide to be an entrepreneur.
If you are not innovative, you are waiting to die or become less relevant.
Digital economy in India is among the top 7 modern history transformation and wealth creation opportunity since industrial revolution in Europe in 1740.
Core values and culture are the only common thread for a company that can ensure that people with different education, upbringing, training, exposure, personality, gender or race can work for a common goal.
History has shown again and again that a small group of highly determined people can achieve impossible things.
Nothing comes from highly planned and organized efforts but start-up energy and passion and newness cause chaos, confusion and ambiguity and that results into great product, platform, innovation and even social revolution.
Be data driven or just rely on your luck, while luck is important, if you can not measure, you can not control.
It is better to be lucky than smart.
A great product is when you are never done building it.
In a large company, you create technology around established processes and in start-ups it is opposite.
A great product is not only developed with a few requirements that are kept in mind but also with excellence in data science and all key metrics.
In product development, think best, tone it down to better, then tone it down to good and further tone it down to good enough and achieve best with iterations!
Many underestimate the power of prototyping in product development and suffer from delusion of grandeur.
Startups one big lesson, while never let go any opportunity to wrap around yourself with well known brands, but not rely on them to build biz.
I believe lower risk appetite by many early stage Indian VCs & looking for everything from soup to nut including. profit is not good for startups.
If you want to be an entrepreneur & you missed the opportunity of dropping out of college or after engineering, work with a crazy founder & learn, you will not regret.
If founders believed Ecommerce is built using VC money & discounting, they never added value w/ tech innovation, selection, convenience, shipping.
Dirty secret of Ecommerce, majority generate 6% - 8% in net revenue but spend 8-10% in direct cost, 10% - 18% in marketing & 2% - 3% in indirect. Bad economics.
Entrepreneurs give up sense of entitlement for school/university or how much money you were able to raise so far. Nothing succeeds like success.
In a country where 3% people account for 90% taxes. Let's not try to increase taxes for those 3% but find ways to collect from remaining 97%
Sense of ownership should not be an outcome of one's title, stock ownership or salary but readiness to take work, passion & accountability.
GST is great for the economy & Ecommerce. But do not create more work & operating cost for the Ecommerce. We are not high margin businesses.
As an entrepreneur or professional point fingers to yourself, learn from mistake & do introspection when things have not gone well in career.
Ecommerce is about convenience & selection! Organizations focused on discounts are myopic!
Founders use 7 Ps to build startup: process, people, policy, platform, product, prize & penalty. As founder, you build 6Ps & empower people.
Founders know what to show at what stage of cap raising. I see early stage raising little yet trying 2 show a lot. Match stage with deliverable.
Time for original thinking, long term approach, innovation, Building great products, large scales, & solving challenging problems. Enough of myopic/weak startups in India.
Digital India can deliver $500bn in new wealth & take India from 5 % of global GDP to 15 % by 2025, if entrepreneurs are supported & loved.
Best time to cost cutting, dialup monetization & streamline processes is not when you do not have capital but you have a lot of capital.
It takes minimum of two decades for a new industry to shape-up, until then do not apply judgments & prejudice. Let Ecommerce breathe and blossom.
People who take things way too casually also get below average outcomes. More serious can kill you but less serious can kill your pursuits!!
If you find 9-5 job suffocating, defined role limiting, pace slow, no newness, work politics, you will blossom in startup, will not look back.
Only rocket science is startup way of doing things. Most entrepreneurs suffer from dilussion of grandeur, speed to market & prototyping.
Top 5 things for an entrepreneur are: vision, obsession, salesmanship, compassion & contagious energy. If you have them, you will be able to withstand any weather.
Entrepreneurs always believe in 5 things: Never second guess, Do not get killed, Do not run out of money, Team up with believers, Stay in game.
When it comes to founding team for a startup, look for these 5 Cs: Commitment, Character, Capability, Capacity, & Craving. These 5 Cs work!
Digital India needs: 200 VCs, 5K angels top courses on entrepr. no cap gain, foreign listing, low cap cost, celebratory founders, less rules.
Ecommerce services such as catalog/marketing, content, vertical marketplaces, short & long format videos, digital ads are next step of opportunities.
Ecommerce unit shipment growing at 25%-30% & GMV 35%-40%, most players may not see this cause handful are gaining market share, rest are loosing.
Startups celebrating small & big victory is super critical. New highs & new lows are very common but celebrating highs keep energy always high.
Govt allocating 1k for Gurgaon welcomed, albeit govt typically not a good investor. Govt focus on R&D credit/tax, no policies, & less rules.
When you build a system for startup that includes financial risk, keep in mind: human error, sabotage, fraud, incentive system and training.
Best time to create process & policies for startup is to take 30% more time when you experience a situation 1st time cause it is not last time.
Entrepreneur career not easy. Most demanding job, most lonely, highest rejection & reporting to yourself very tough. Emotional roller coaster.
Investors get entrepreneur they deserve! So when you get rejection from investor, do not get disheartened. God is kind to you, blessing in disguise.
Giving your money to someone and calling it equity & giving your daughter to someone & calling it Kanyadhan are the two toughest things.
If you are creating a product startup, make sure you have also created making hooks & analytics. And be ready for a hockey stick style adoption.
Don't give, Indian startups capital like drip irrigation. Give billions like USA/China to to top entrepreneurs, India will deliver more unicorns.
Top 10 things to create a Unicorn: Capital, capital, capital, capital, capital, capital, idea, team, execution & luck. Sooner you realize better it is.
Do not have expensive habits or heavy tuition loan or large EMI for home that u have low risk appetite & miss entrepreneurial opportunities!
Internet not just Ecommerce, albeit a big opportunity. Web analytics, adtech, E-Commerce service, & vertical marketplace will reward next 5 year
Spend serious efforts on idea, team & investor. Pursue an idea not coz its glamourous but u feel passionate.
Vision is the biggest of all what you need to create a world-class company. While bldging a startup, if vision expands, great & god is kind.
Entrepreneurs spending time on mkt size, 2/5 yrs hence etc r imp but do not underesti EQ, social/family support, rejections & softer aspects.
Entrepreneurship is not a test of intellectual horse power but common sense, simplicity, long term thinking, create solutions and pragmatism.
Original thinking, innovation, & undying faith in your vision will take you places while journey may have rejections, failures & prejudices.
Every adversity or challenge creates completely new opportunity. You can be in misery or self pity or convert it into monolithic opportunity.
Time & tide wait for none. Do not wait for perfect moment start your entrepreneurial journey. Take control & start now.
One of the biggest thing you need to be equipped before taking your entrepreneur plunge is to have a strong chemistry with your passion!
Every challenge is an opportunity, every failure is an early prototype to success. Entrepreneurs always be believers and eternal hopeful!!
Behind every success there is insurmountable efforts, hard work, resilience & rejections. Entrepreneurs remember no pain no gain!!