Saturday, 18 June 2016: Dewang Mehta Auditorium, Persistent Systems was filled with more than 200 people eagerly waiting to hear from Awesome Speakers: Dr.Anand Deshpande (www.persistent.com), Dr. Ganesh Natarajan (www.5fworld.com), Suketu Talekar (BrewCrafts Microbrewing Pvt. Ltd) , Murali Cherat (Innores Mentoring) and Harshad Lahoti (Ah! Ventures). 

Here are the pictures from the Event

While we were all are engrossed in listening to the speakers, Prathmesh Krisang, Founder of Krisang Pictures & Krisang Labs (Multiple National and International Award Winning Filmmaker & Entrepreneur) was busy taking some notes which is certainly of great help. Here are some awesome points that he made note of:

Session1: Suketu Talekar

  • Be remarkable
  • Be nice to people
  • Culture eats strategy for breakfast
  • Always have a good work culture
  • Take money from where you can
  • VC should be the last option
  • Make money from day 1
  • Build organizations that people are happy to work in
  • Bootstrapping is a mindset, not the amount of money, it is all about jugaad
  • When you are bootstrapping, it is the matter of timing and cash flows that you can manage to achieve before you burn out
  • Bootstrapping is- no matter what happens I will make it work


Session 2: Murali Cherat and Harshad Lahoti 

  • Valuation is in the eyes of the beholder
  • You need to figure out your unit economics from day one
  • Realistic is a personality trait, be realistic 
  • When you think of VCs, ask yourselves, are you ready to exit?
  • If you are lean, sharp & ambitious, you are interesting; but if lean is slowing you down, you are doing it wrong
  • Is your product a 'good to have' or a 'need to have'?

 

How to pitch: 
1. Most important is clarity of thought, have a very clear thought process
2. Are you good at articulating?
3. Can you finish off in 3 slides?
4. What is your product, offering?
5. How do you plan to exit?
6. Most startups talk about how they can be happy in their pitch, not how the investor can be happy. 

 

  • VCs like to generalize, talk in their language. Pickup references from similar industries where investors have invested, which are parallel to your product. This will make them understand better.
  • Passion is bullshit, have you got a purpose and a proven track record to back that passion? Or is it just a hobby?
  • Three things I look at as investor; team, team, team

 

Session 3: Dr. Anand Deshpande

  • It's a privilege for the VCs to invest in your company, not the other way round.
  • You don't argue with shareholders, they have to decide the valuation they want.
  • Understand the VCs business mechanics, then decide if you want to go ahead with them.
  • You have to figure it out all the time, everything depends
  • I believe in focus and doing few things 
  • Before you sign any contract check every clause by imagining a 20% down round
  • If you don't have the confidence yourself, why would the VC give you funds in first place?
  • Get everything written on deliverables from investors, don't take anything at face value.
  • Your stakes are extremely valuable, don't let go off without thinking it through
  • Don't allow the VCs to exercise power over your company
  • Manage board control very closely, or next thing you know, you are fired from your own company
  • Find a couple of independent directors on your board that you trust before going to an investor
  • Sometimes if you cannot negotiate, your independent directors can step up.
  • You should be extremely careful about the money coming in, especially from investors
  • The BEST way to raise money is from your customers.
  • Don't raise money to build the product, make mistakes on your own money
  • Take VCs money for scaling the business
  • You should ask VCs why should I take money from you?
  • Make it a bidding war between investors 
  • Customer is the best investor

 

Session 4:  Dr. Ganesh Natarajan

  • Don't make big plans, go out there and look out for every opportunity and you will succeed beyond imagination 
  • Keep adapting
  • Always have a super goal and over achieve it
  • Do something very unconventional, or you cannot achieve extraordinary results
  • Challenge conventional wisdom 
  • Copycat ideas are not going to work

    The 5Fs for any company to achieve success;
    1. Fast
    2. Focus
    3. Flexible
    4. Friendly
    5. Fun

Hope these points help you in your fund raising strategies. POCC is thankful to 
Sandeep Saxsena and Amit Dangle for organizing such an awesome Event
Persistent Systems for the wonder venue- Dewang Mehta Auditorium and snack
All the speakers for sharing their views on how to raise funds, and
everyone who attended the event.

Hope to bring more such events to you in the near future.

Keerthi

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very nice notes...helpful too...

The notes are a delight.

Thanks for sharing.

Cheers !

It was indeed a fruitful event, very well organized. Congratulations to the organizing team.The efforts are appreciated.

Keerthi you have very well presented the important points of the entire event of fund raising. Just to add regarding my personal question with Harshad which i guess will also be useful for others.

My Question- Any startup or B-Plan is being evaluated on many grounds before funding. How to evaluate the investors?

Answer by Harshad Lahoti - It is indeed very important to evaluate even investors on many grounds.The first being the Vision. It is very essential that investors' vision matches with your Vision for a successful long run. 

Thanks & Regards

Akanksha Sagar

That's informative. Thanks for sharing.

Really informative and useful post to raise fund for your company or business.

Nice topic and points.

Thanks for sharing it... 

Regards

Yollodeals 

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