The way to get things done

1. The Way to Get Things Done
After full-house sessions in Bengaluru, Ahmedabad and Kolkata held
this week, ET Power of Ideas will reach Mumbai on Monday.

2. Contd..
What happens after you set up your company and raise funds?
How do you execute your idea, deliver on your promise to the first
customer, hire the right people, and transition from a startup to a full-
fledged company? All these questions and more were answered at The
Economic Times Power of Ideas roundtable held on Monday in
Bengaluru, India's startup capital. The panel discussions are being held
in eight cities in association with Jio, Department of Science and
Technology, and CIIE of IIM Ahmedabad. The Bengaluru event had
seasoned entrepreneurs, including K Ganesh of Growthstory and Abhay
Singhal of mobile ad network InMobi, discussing with aspiring founders
the important but oft ignored aspects of building a company .

3. Contd..
“In every business I have seen, nothing that you plan in the beginning ever
happens the same way . We call it the rule of 3: it takes three time the
capital, effort, time to execute what you planned for,“ said Ganesh, whose
Growthstory houses sector-leading companies such as online grocer
BigBasket, home healthcare service Portea and online restaurant
Freshmenu.As a company grows, management bandwidth becomes a
constraint and hiring starts going wrong, said Singhal.
Vikas Malpani, cofounder of real estate website Commonfloor, said different
kinds of people need to be brought into at different stages of a company's
growth. “While you're hiring the first pool of people you should hire is
friends and family . But as you grow, you have to relook at the people you
have hired, and you have to have the hard talks,“ he said.

4. Contd..
Commonfloor grew from 80 to 600 people within 12 months and the
company suffered a systemic breakdown of people, processes and
infrastructure before it could get back on its feet, Malpani said.
Customer service is also a key focus area, the panelists said.
“The single greatest opportunity in India today is in providing high-
quality services,“ said Sanjay Anandram, partner at early-stage investor
Seedfund, adding that the Indian consumer has been neglected and
taken for granted so far.
Chitra Gurnani Daga, cofounder of online travel marketplace
Thrillophilia, said her team speaks with at least 5-10 customers every
week and tries to incorporate their feedback within the product.

5. Contd..
Because existing customers are just as important as the new ones.
“If you have somebody buying from you, or has committed to buying
from you, the least you could do is retain him,“ said Singhal, adding that
all businesses should be laser-focused on customer churn rate.
The huge availability of capital in the startup ecosystem also poses
challenges as it can defocus a company's vision, the panelists said.
“In spite of having capital, maintain constraints, ensure there is fiscal
discipline and strategic reason to doing things,“ said Anandram.

6. For details and bookings contact:-
Parveen Kumar Chadha… THINK TANK
(Founder and C.E.O of Saxbee Consultants & Other-Mother
marketingandcommunicationconsultants.com)
Email :-saxbeeconsultants@gmail.com
Mobile No. +91-9818308353
Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015