Boostrapping Wmr Nov 13th India

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Presentation for the brainstorming session with Indian media on Nov 13, 2009.

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Boostrapping Wmr Nov 13th India

  1. Sramana Mitra<br />Entrepreneurship Development In India<br />
  2. Kolkata, 1970<br />Masters in EECS from MIT<br />Returned to India in 1995 to start DAIS<br />Indian IT industry was all about body-shopping then<br />Not my interest<br />Started Intarka in 1997<br />Raised VC in 1998<br />Started Uuma in 1999<br />Consulting since 2001<br />Over 80 clients including SAP, Webex, BestBuy, Cadence<br />Writing since 2005<br />Where I Come From<br />
  3. On the brink of great entrepreneurial development<br />Media needs to focus on entrepreneurship, not only Bollywood and Cricket<br />Entrepreneurial movement still in pockets<br />Needs to broaden, infiltrate homes<br />Under 30 population more keen<br />They need role models and encouragement<br />They need education, mentoring<br />Where India Is Today<br />
  4. All about accessible role models.<br />And their secrets and strategies of success.<br />Capturing the tribal knowledge of Silicon Valley.<br />A scalable mentoring device.<br />Entrepreneur Journeys<br />
  5. Sridhar Vembu, Zoho<br />Harish Hande, SELCO<br />(Both in EJ1)<br />My Favorite Role Models<br />
  6. In Bookstores, published by Hachette, India<br />Entrepreneur Journeys (Volume One)<br />Bootstrapping, Doing More For Less (EJ2)<br />Also, free online strategy roundtables for entrepreneurs<br />Next: Dec 10, 2009<br />http://sramanamitra.com/entrepreneurship-strategy-roundtables<br />Blog: Sramana Mitra On Strategy<br />Forbes Column: Zero In<br />My efforts<br />
  7. VC Funding is not the end game<br />India Needs To Avoid A Mistake<br />
  8. Why?<br />Small portion of business ideas qualify for VCs <br />
  9. TAM = Total Available Market<br />VC = Large TAM<br />VCs only fund very large market opportunities<br />
  10. Worth Building, though<br />Especially if you own 100%<br />Many more $1m, $5m, $10m, $20m ideas than $500m ones<br />
  11. 90% owner of $5m company sold for $25m<br />Which entrepreneur makes more $$$?<br />5% owner of $25m company sold for $100m<br />$22.5m<br />$5m<br />
  12. Weapon Of Mass Reconstruction<br />Doing More For Less<br />Hence, Bootstrapping<br />
  13. Yes you can.<br />Myth: You cannot build a large company by bootstrapping<br />
  14. Finisar: Bootstrapping To Billions [EJ1] - $5b market cap in 2001<br />RightNow: The Montana Mogul [EJ2] - $500m market cap in 2009<br />SuccessFactors: Silicon Lazarus [EJ2] - $875m market cap in 2009<br />Stories<br />
  15. On the contrary.<br />Bootstrap the early stage. <br />Raise money later. <br />Preserve more equity.<br />Myth: Bootstrapping & Venture Capital are mutually exclusive<br />
  16. Don’t build anything until you have validated your concept.<br />Myth: Need to build a prototype to start selling.<br />
  17. Avoid very large funds.<br />Bootstrap first.<br />Mentor Capital, not Venture Capital<br />
  18. Also important for the media to understand and explain<br />Other Issues<br />
  19. Difficult shift in mindset<br />Outsourcing to Products<br />
  20. We have very little expertise in India<br />Positioning<br />
  21. In Bookstores, published by Hachette, India<br />Entrepreneur Journeys (Volume One)<br />Bootstrapping, Doing More For Less (EJ2)<br />Coming in 2010:<br />Vision India 2020<br />Positioning, How To Test, Validate, And Bring Your Idea To Market (EJ3)<br />Innovation, Need Of The Hour (EJ4)<br />Also, free online strategy roundtables for entrepreneurs<br />Next: Dec 10, 2009<br />http://sramanamitra.com/entrepreneurship-strategy-roundtables<br />Blog: Sramana Mitra On Strategy<br />Forbes Column: Zero In<br />My contribution<br />
  22. Open Discussion<br />How can we collaborate?<br />
  23. www.sramanamitra.com<br />Anurima Roy<br />anurima.roy@hachetteindia.com<br />Maureen Kelly<br />mkelly@bizbookpr.com<br />Contacts<br />
  24. Thanks to our hosts<br />Cisco is a leader in the Telepresence immersive video conferencing technology market.<br />Tata Communications was the first service provider to open public Cisco TelePresence Suites in the world, with the first rooms in India launched in July 2008. Tata continues to lead this space with a commitment to add an additional 25 rooms by mid 2010, to the existing 10 rooms on their global network.<br />

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