Our discussions with them were progressing at a rapid pace when they asked, “Why are you moving so fast on this deal?” I think it is one of the smartest queries relating to a VC’s evaluation process– entrepreneurs should ask questions not only when a VC is moving too slow but also when they are moving too fast!
A successful startup does not necessarily scale well. A successful high scale organization does not necessarily stay successful forever. The choice of employees you have made at each stage probably has a very high degree of contribution on the continued success.
In India, angels do act like VCs and VCs, like PEs. But it’s upto the entrepreneur to negotiate the right terms and numbers.
These mistakes mostly won’t have an immediate impact, but will (suddenly) show up when you least expect them to!
Now the Buffer folks audaciously promise great customer happiness. That they deliver it is only half the surprise. That I am saying it in spite of not getting my problem resolved, now that’s a feat right?
The key question then that faces an entrepreneur is – “when to pivot”. There is a counter-force at work – “persistence”.
Janhavi Parikh, the founder & CEO of Giftery shared her experience which has a few lessons for anyone who is considering a pivot.
At that time, we could not see India evolving beyond SMS in the foreseeable future. The lack of local usage limited our understanding in a great way. It was all happening in another country.
Often, the problems of starting in smaller city are very different from the problems of starting up in a larger city. While there are different problems, some solutions and tactics work everywhere.
Amul’s story or that of its advertising campaign is of course not unknown to anyone. But what is surprising is that most brands haven’t picked a cue from it!