Entrepreneurship  

Ashish  Chaturvedi  

Who  the  hell  is  he  ?  

2  

Ashish Chaturvedi Founder & CEO

•  Gold Medalist in Engineering. Victim of uncle Osama’s air campaign of 2001.

•  Started with a Chemical manufacturing startup.

•  Spent boring 9+ years with Infosys.

•  IIM Calcutta Alumnus (MBA).

•  1.5+ exciting years at uFony.

•  Taught Digital Marketing & Business Strategy at SIMC.

•  Loves to Run.

Entrepreneurship  has  some    side  effects  

169  

220  

69   78  

0  

50  

100  

150  

200  

250  

Before   ABer  

T.Cholestrol  

Weight  

Before                    ABer  

Before                                        ABer      

D  becomes  Do-­‐it-­‐yourself    (not  Delegate)  

– You  are  the  peon,  coder,  salesman,  accountant,  marketer  &  of  course  CEO  

And  that  leads  to  …Too  much  to  do…!  

Leading  to  long  extra  hours  

And  Lots  of  RejecWon  along  the  way.    

Window  shopping  employees,  Investors  and  Friends  &  relaWves.  

BUT  The  Gains  are  worth  the  pain…  

Calorific  Gains  

Control  your  own  DesWny.  

Fastest  way  to  become  a  …  

Get  covered  in  InternaWonal  Media.  

And  probably  the  quickest  way  to  get  a  chance   to   address   peers   in   your   alma  mater.  

Societal  Gains  

Generate  employment  

Bring  in  FDI  

Create  an  Impact  

Skills  gains..  

Learn  what  you  always  wanted  to..  

Groom  yourself  to  take  decisions  –  Right  or  Wrong  

Learn  to  deal  with  ambiguity  and  failure.  

My  learning  so  far….  

First  step  is  the  Hardest  

           One  has  to  overcome  

How  I  accidently  overcome  those..  

•  CulWvated  my  passion  

•  Kept  trying  new  things.  

•  Found  my  leverage  

•  Found  a  partner  

The  choice  between  Logic  and  Faith  

It  CANT  be  only  about  Money!  

•  Passion  •  Goal  •  Changing  the  world  •  Helping  people  •  Pride  •  Forced  

Idea  is  Everything  

Idea  <  5%  

But  someone  can  steal  my  Billion  $$  idea  

No  They  Wont!!!  

So  pitch  your  idea  to  as  many  as  you  can.  

What  maiers  more  is  ?  

Establishing  -­‐  Product  Market  Fit  

How  to  establish  product-­‐market  fit  ?  

Choose  Speed  OVER  Accuracy  

• Avoid    building  that  (elusive)  perfect  product  in  one  go.  

• Release  as  fast  as  you  can  BUT  ensure  what  you  are  releasing  doesn’t  suck.  

Be  in  Beta…ALWAYS  

•  Build  -­‐  >  Get  Feedback  -­‐  >  Test  -­‐>  Analyze  -­‐  >  Create  again  

Build  a  Good  Team..  

Two  is  merry,  three  (maybe)  is  Crowd.  

Its  Incredibly  hard  &  takes  incredibly  longer  to  do  everything  yourself  

More  because…  

Saves  you  from  the  emoWonal  drain.  

Don’t  rely  on  Part  Time    

Hire  people  with  complementary  skills  

Form  Alliances  (Outsource  your  weakness)  

Money  Maiers  

Money  is  Never  sufficient  

Fear  Vs  Greed  

Fear  •   No  Product-­‐Market  Fit  

•   UnderesWmated  inputs  

• OveresWmated  Output  

Greed  •   Do  I  need  money?  

•   Do  I  need  it  now?  

•   How  much  should  I  dilute?  

How  to  raise  iniWal  capital  then?  

Easiest  way  

ShramDaan  

Leverage  

What  about  Angels  ?  

 I  have  a  perfect  Business  Plan  

Hard  facts..  Think  like  an  investor  

•  Hardly  any  body  invests  in  business  plans  – Especially  for  the  first  Wme  entrepreneurs  

•  Instead  people  invest  in  people,  relaWonships  and  teams  AND….  

•  Business  Models  (working)  

Who  can  I  approach  ?  

•  Look  for  angel  networks  –  Mumbai  Angels  –  IAN  –  Chennai  Angels  –  SeedFund.in  –  Kae  Capital  

•  Always  find  an  introducWon.  It’s  the  only  way  they  would  ever  pay  aienWon  to  your  case.  

•  Ask  for  Advice  ,    then  Favor  &  at  the  last  Money.  

Thanks!    

Ashish  Chaturvedi  +91-­‐8412024168  ashish@ufony.com  

5Ps  for  entrepreneurial  success  

PerspecWve  

Proficiency  

Providence  

Perseverance  

Plarorm  

IteraWons  at  Zoment  

•  Product  pivoted  three  Wmes  in  1.5  years  

•  3  iteraWon  on  UI  (sWll  counWng),  UX  changed  5  Wmes.  

•  Change,  even  when  you  have  a  Product  Market  fit.  

•  Keep  experimenWng!  

E  N  T  R  E  P  R  E  N  E  U  R  

•  4  E  •  3  R  •  2  N  •  1  T    •  1  P    •  1  U    

Rhymes  similar  to  a  Sanskrit  word  “Antha-­‐Prerna”  

What  word  can  we  make  out  of  these  alphabets  ?  

E  R  N  T  P  U