15 new rules for startups
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15 new rules for startups in 3 sentences or less: 1. You can start a business from anywhere, even small towns, and geography is not a limiting factor. 2. Focus on being a trendsetter rather than follower and prepare to work anonymously for a few years before gaining recognition. 3. Success requires being the clear number 1 or 2 in your sector as there is little room for complacency and the rewards are highest for the top performers.
15 new rules for startups
- 1. 15 minutes, 15 new rules for startups. mahesh@seedfund.in @maheshmurthy <seedfund>
- 2. Learnings from brands managed <seedfund>
- 3. Learnings from brands created <seedfund>
- 4. 1 Geography is history You can design your business to start from anywhere. Even Yeshwantpur. <seedfund>
- 5. 2 The trend means the end. Prepare to be a trend-setter, not a trend-follower. Toil a few years in anonymity till then. <seedfund>
- 6. 30 80 70 25 60 20 50 15 40 30 10 20 5 10 0 0 A B C D E A B C D E 3 The winner takes it all. No room for complacence. Be no.1 or no.2. Or dont bother. Big rewards for success. <seedfund>
- 7. 4 Hard to enter a pre-existing sector. Easier to create a new one. Forget billion-dollar market size. Discover how big it is as you go along. <seedfund>
- 8. 5 Biggest determinant of success is insane customer delight and resulting word-of-mouth. Will your friend rave about your product or service to a stranger in a bar, unbidden? <seedfund>
- 9. 6 Your marketing IQ needs to be inversely proportional to your marketing budget Are you remark-worthy to your TG? If not, start again. <seedfund>
- 10. + > > + 7 Digital is not just cheaper than TV as a marketing medium. Its bigger. Can you get digital word-of-mouth working? Facebook = 2.5 X IPL match, Google = 15 x ToI <seedfund>
- 11. 8 Dont think just 360. Think 360 by 365 Its not just about talking. But listening, responding, analysing, then talking. Do so 24 by 7. Restructure. <seedfund>
- 12. 9 Most important technical skill you need: recruitment & retention. Have charisma & vision to recruit for less or free? Can you stave off market salaries? <seedfund>
- 13. 10 Worlds most successful VCs: customers Vast majority of Indian and global Fortune 500 never got VC money to start. Were the second-best option. <seedfund>
- 14. 11 Before getting a VC in, think about getting them out. Can you IPO? Really? Can you be acquired? Do you want to? <seedfund>
- 15. 12 Forget about team. Here it starts with one person. VCs may parrot the Silicon Valley line. But its different here. Ones a good start. <seedfund>
- 16. 13 Hereditary brilliance isnt bankable. Institutionalised brilliance is. Can your firm survive without you? Do you get richer over the weekend? <seedfund>
- 17. 14 Be eco-friendly with money. Break even by burning as little as possible. Downturns can happen at any time. Survival is 80% of winning. <seedfund>
- 18. 15 The pot of gold is the rainbow. The payout is an awesome life. Nobody dies of entrepreneurship. Its the best kind of life there is. <seedfund>
- 19. @ Thanks, Im mahesh@seedfund.in @maheshmurthy +91 98922 49969 <seedfund>