Changing dynamics in India’s startup eco-system

2014 was a defining year for the Indian startup ecosystem. Compared to the rest of the decade, a number of significant events and activities had changed the very nature of the startup world. Companies like Flipkart,Snapdeal, PayTm, Zomato, etc had redefined ‘scale’ and investors had started placing big bets on them. These companies darted ahead of the pack, to not just dominate their markets, but to grow it too. Of course, they were helped by a conducive environment – mobile phones, internet connectivity etc – but they also built infrastructure, people and processes that could handle a different order of scale than what they themselves could have imagined a few years ago. These startups demonstrated the potential and the competence to build world-scale companies and created new goalposts for entrepreneurs to aspire for.

Startups-India

As a result of e-commerce, a number of enabling technology and service companies started becoming more meaningful. Analytics, online engagement platforms, delivery companies etc found a much larger market to address their business case, and therefore their investment-worthiness became stronger. What remains to be seen is how effectively the e-commerce industry will retain customers once the discounting era is over and customers have to buy on the fundamental value proposition of e-commerce i.e. ease of access and choice. We may see some changed market dynamics at that stage, and the transition phase may throw up some new, unexpected leaders.

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My Notes from TC/1

I spent this weekend (15th and 16th of March 2014) at the first conference organized for creative entrepreneurs by The Coalition. Great initiative, awesome experience.  Check out www.thecoalition.in.

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Here’s a para from their website about what this initiative is about. The Coalition is a new platform to support creative entrepreneurs in India. Whether it’s music, film, design, fashion, arts, creative technology or something completely radical, The Coalition gets young creative thinkers together with the people, skills and money that can turn their passion into successful businesses – and connects them to the resources that can help their business grow.

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Summary of my workshop at TC/1

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This was a workshop at conducted for Startup Weekend at The Coalition on 15th March 2014. Here’s a summary of what we covered:

  1. Different stages of the venture are fundamentally different – the entrepreneur has to change roles from the DOER to a MANAGER to a LEADER
  2. A good product is not the same as a good business – you have to design a business around a good product or service
  3. Personal readiness and organizational readiness are important – Check the presentation for my 10×10 scorecard on personal and organizational readiness
  4. Delegation is difficult – but critical – If you do not delegate, you will become the bottleneck
  5. Hire Rockstars – An entrepreneur’s role is to attract and retain good people – Spend 30% of your time on HR – hire people smarter than yourself
  6. Have a business plan that outlines what you want to do and how you will do it
  7. Clearly identify and align with your motivations – ensure that all founders are aligned on the goals and vision and direction
  8. Redefining your business opens new possibilities – don’t describe your business by the product or service that you currently offer – define it as the problem you solve – check notes in my presentation 
  9. Visualize your goals, milestones and activities – first define them clearly
  10. Identify key stakeholders and have a plan to engage them