A first time Entrepreneurs take on Entrepreneurship.. A view on both the exciting and challenging aspects of Entrepreneurship..

1. Entrepreneurship
Ashish
Chaturvedi

2. Who
the
hell
is
he
?
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.
2

3. Entrepreneurship
has
some
side
effects

4. Before
ABer
250
200
220
169
150
T.Cholestrol
100
69
78
50
0
Before
ABer
Weight

5. Before
ABer

6. D
becomes
Do-­‐it-­‐yourself
(not
Delegate)
– You
are
the
peon,
coder,
salesman,
accountant,
marketer
&
of
course
CEO

7. And
that
leads
to
…Too
much
to
do…!

8. Leading
to
long
extra
hours

9. And
Lots
of
RejecWon
along
the
way.
Window
shopping
employees,
Investors
and
Friends
&
relaWves.

10. BUT
The
Gains
are
worth
the
pain…

11. Calorific
Gains

12. Control
your
own
DesWny.

13. Fastest
way
to
become
a
…

14. Get
covered
in
InternaWonal
Media.

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

16. Societal
Gains

17. Generate
employment

18. Bring
in
FDI

19. Create
an
Impact

20. Skills
gains..

21. Learn
what
you
always
wanted
to..

22. Groom
yourself
to
take
decisions
–
Right
or
Wrong

23. Learn
to
deal
with
ambiguity
and
failure.

24. My
learning
so
far….

25. First
step
is
the
Hardest
One
has
to
overcome

26. How
I
accidently
overcome
those..
• CulWvated
my
passion
• Kept
trying
new
things.
• Found
my
leverage
• Found
a
partner

27. The
choice
between
Logic
and
Faith

28. It
CANT
be
only
about
Money!
•
•
•
•
•
•
Passion
Goal
Changing
the
world
Helping
people
Pride
Forced

29. Idea
is
Everything

30. Idea
<
5%

31. But
someone
can
steal
my
Billion
$$
idea

32. No
They
Wont!!!
So
pitch
your
idea
to
as
many
as
you
can.

33. What
maiers
more
is
?

34. Establishing
-­‐
Product
Market
Fit

35. How
to
establish
product-­‐market
fit
?

36. 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.

37. Be
in
Beta…ALWAYS
• Build
-­‐
>
Get
Feedback
-­‐
>
Test
-­‐>
Analyze
-­‐
>
Create
again

38. Build
a
Good
Team..

39. Two
is
merry,
three
(maybe)
is
Crowd.

40. Its
Incredibly
hard
&
takes
incredibly
longer
to
do
everything
yourself

41. More
because…

42. Saves
you
from
the
emoWonal
drain.

43. Don’t
rely
on
Part
Time

44. Hire
people
with
complementary
skills

45. Form
Alliances
(Outsource
your
weakness)

46. Money
Maiers

47. Money
is
Never
sufficient

48. Fear
Vs
Greed
Fear
•
No
Product-­‐
Market
Fit
Greed
•
Do
I
need
money?
•
UnderesWmated
inputs
•
Do
I
need
it
now?
• OveresWmated
Output
•
How
much
should
I
dilute?

49. How
to
raise
iniWal
capital
then?

50. Easiest
way
ShramDaan
Leverage

51. What
about
Angels
?
I
have
a
perfect
Business
Plan

52. 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)

53. 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.

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

55. 5Ps
for
entrepreneurial
success
Proficiency
Plarorm
PerspecWve
Perseverance
Providence

56. 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!

57. E
N
T
R
E
P
R
E
N
E
U
R
•
•
•
•
•
•
4
E
3
R
2
N
1
T
1
P
1
U
What
word
can
we
make
out
of
these
alphabets
?
E
R
N
T
P
U
Rhymes
similar
to
a
Sanskrit
word
“Antha-­‐Prerna”