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Boostrapping Wmr Nov 13th India
 

Boostrapping Wmr Nov 13th India

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

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

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    Boostrapping Wmr Nov 13th India Boostrapping Wmr Nov 13th India Presentation Transcript

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