25-Oct-2019, Kerala Startup Mission, Meetup Cafe, Thejaswini.
The intention of this note: Each point is for recollection for those who attended.
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1. കമ്പനിയുടെ നേതൃപാടവം വളർച്ചയുടെ പല ഘട്ടത്തിലും വ്യത്യസ്ഥമാണ്.
അതു ഒരു മില്യൺ എത്തുന്നതിന് മുൻപും ശേഷം വ്യത്യസ്ഥമാണ്. Vijay believes that he is fit for 100 M$ to 1B$. But not for zero to 1M$ (or he is not wired as founder).
2. Entrepreneur's aspirations should reflect the exponential growth plans. Founder-for-life-time vs serial entrepreneurs is the simple point to consider when you say exponential growth plans. carefully select investors based on that.
3. Karma concept's interpretation. We can expect something back, but not keep expectations as a result of each transaction.
4. Whether college dropout or 40+ guys are the best founders? The latter gives more success in Vijay's observation.
5. The biggest killer is premature optimization.
6. Repeatable businesses are the key to success.
7. Comparing with Indian founders, founders in the West are having a confident outlook. Many of the founders from India lacks basic knowledge about cash flow or stock dilution. Many are not having storytelling abilities. These things are needed to paint confidence in presentation/interaction.
8. About international startup ecosystems: The Israeli startup ecosystem is good. We need to copy many things. The startup course in Standford is good.
9. Positioning in market. Consistent pricing is important for each region. Do not try to strategize a price for the whole world. Customer acquisition cost etc are always different. Also, customer only compares other players in same market. iPhone pricing example in India and US was quoted. We should not arbitrarily get into the market. More than pricing, it has got a lot of legal or statutory reasons. We need to be ready for facing suit at any point.
10. The tech founders are usually having a problem when they slowly see and acquire first-line customers. They tend to accommodate new thrilling ideas without a product manager's discipline. Maybe it is not important for the market at that time-line.
11. Price is set by the market and cost set by us. Companies are failing because of not properly understanding the target market.
12. Ten to Twelve years is the exit period for normal good or bad startups. fail-fast is a well-known strategy in this area.
13. The three WHYs that a pro should consider when he/she is asked to decide on something:
Why a customer is buying?
Why I am the seller for him?
Why at this point in time?
14. Whether politicians should collaborate with Startups in India? Is it legally and ethically correct? Politians are not giving attention to a startup even US. Always startups or politicians should decide whether legal or ethics should win. example:self-driving car at yellow line, whether it should hit a person by keeping rule or save the person by deviation of the yellow-line rule. Like that any lobbying has got right and wrong. Interestingly in the self-driving car example, If that decision gives to common people who owns the car, it will result in full chaos.
Curated by: veenusav at 1074vectors.com
Notice from the curator:
The curator's perspective always causes issues in the notes. So, do watchful for potential errors! And the points are noted just for triggering memories of the people who attended. Excuse me, if you have not attended and cannot judge the context.
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