Startups - How to Survive the First Three Years - Tapan Kumar Das, CEO iTiffin.in

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This presentation is stamped by integrity and honesty. It lays down the challenges and practical solutions that would help entrepreneurs get through the first three years of a Startup's life.

Alimentation Économie & finance Business

HOW TO SURVIVE FIRST THREE
YEARS
Tapan Kumar das , CA , IIMA
CEO and Director – Itiffin
Co-Founder Qua Nutrition

Challenges
Major factors for Failure
Success Factors – Macro level
Survival Approach – ITIFFIN and QUA
Q & A
INDEX
Presentation : 45 Minutes
Interaction : 60 Minutes

Family Challenges – Working without Salary
Social Challenges – Pulls you down
Technological Challenges – Job oriented approach
Financial Challenges – Could have been better if more money was available
Policy Challenges – Not sure about the Macroeconomics
CHALLENGES

Incompetence – Lack of Planning – Investment, pricing, Hiring and Monitoring
Lack of Market awareness
Lack of clear focus
Too much Money
Wrong advice from Family and Friends
Entrepreneur underestimated the time requirements
Being at wrong place at the wrong time
Wrong Hiring
START UP BUSINESS FAILURE
RATE – 9/11

BUSINESS SURVIVAL - FACTORS
Growth
Financial Management
Sales Volatility

Start – Manage – Growth
To survive 3 years
OUR APPROACH
Qua
Nutrition
ITIFFINCash
How ?

Investment – Rs 3 Lakhs
STARTED IN THE YEAR 2011
Could have
investment more ?
Variable cost approach – Qua and Itiffin
Low Capex Approach
Why we avoided ?

Work around Customer - Solve problem keep the Customer in centre
Low Investment high value creation – Risk and reward
Managing Sales volatility – WOM and influencer Model and employee ownership
Changing the Business Model - To achieve short team goal without diluting long term vision –
Franchisee Model and Product based approach
Financial Management - Variable cost approach and Low Capex
Hiring approach – Professional with right attitude - Multitasking
ITIFFIN AND QUA SURVIVAL
STORY

Revisiting business model to check the assumption and modify to ensure minimising mistakes
( at least monthly once )
Funding – Market is not ready
Service and product combination - Qua and Itiffin
Managing low skilled people - day to day below the line challenges
Managing with Partners – Qualification Vs Experience Vs Influence
Visualising much in advance the human problems – 6th Sense
Worry - Money Vs Customer Acquisition - always have job in your hand
ITIFFIN AND QUA SURVIVAL
STORY

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Angel Investment Insights

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Here are the takeaways from our speaker at last Saturday’s meeting on “Successful Apps - The Hygiene Factors” - 1) An App idea must serve a specific need, preferably be a “pain killer” rather than a “vitamin” 2) Aim to generate revenue. If you plan to be a charity, get out of the Startup business 3) Seek feedback from people (not family & friends) using a quick and dirty prototype, and ensure that the App is intuitive to your audience. Test and Test again 4) Keep budgets low, evaluate your own strengths and skills, and combine the needs of your business with the right blend of employment and outsourcing 5) Fail quickly and cheaply. Have contingencies planned, pivot or quit if need be, but quickly 6) Founders should recognize that just tech does not sell, marketing and monetizing Apps is a huge challenge

SUCCESSFUL APPS - THE HYGIENE FACTORS: SUDHIR GOEL

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“Chaipoint.com – The Power of Execution” was a session that dissected the Chaipoint case-study - a retail outlet and delivery chain that sells mainly freshly brewed Chai (tea), to the white-collared Indian worker. The Startup launched in 2010 and now serves more than 1m cups of tea and adds 3-4 retail outlets a month. The company took a simple, well-understood concept of “Chai” and achieved it's current scale through relentless execution. Key takeaways: 1) An idea without execution only remains an idea; Intellectualize, but start executing quickly to enable market validation and fine-tuning 2) Aim for profitability right from the beginning 3) How quickly you assimilate your learning into your process is also a reflection of your potential scale 4) Defining process and detail that can be used to train employees should be a key focus 5) Appropriate use of Information Technology and adaptation over time should be a hygiene factor 6) Open communication channels with employees and a flatter organization leads to quicker problem resolution as they arise.

CHAIPOINT.COM -THE POWER OF EXECUTION -TEJUS CHANDRA, CFO, MOUNTAIN TRAIL FOODS

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