Replies to This Discussion

Permalink Reply by Sudhakar adapa on September 14, 2012 at 8:40pm

Hi,I am an entrepreneur with intrest in funding companies in the mobile/app space,gimme a call on 9030948042.we will talk over it.

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Permalink Reply by Asis Panda on September 15, 2012 at 3:33pm

thank you Sudhakar for replying. mailing you the details asap

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Permalink Reply by Vivek Lath on September 15, 2012 at 1:50pm

Tough luck. I am in the same boat buddy. Most investors won't. It is a matter of de-risking the business' dependence on one person.

On the other hand, since you have an MVP, getting collaborators (not investors) should be a possibility. 

This is what I am doing. I am spending few hours each day learning to code my self, put out the product, get some initial motion and then attract talent. Though I am stronger in business and marketing, I figured that it will be easy for me to find a co founder with business skills than technical skills. So I decided to become my own tech co founder and will then partner with business skills to manage other things. To me spending time to validate and push the first version myself is a better bet than spending time trying to find a partner (though you don't ever pass on opportunity to meet smart potentials).

Anyway, it is an alternate solution. Bite the bullet if you can. Too much time spent on raising money than actually making some is a tough course.

Vivek

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Permalink Reply by Asis Panda on September 15, 2012 at 10:07pm

to take care of the development part, i have decided to "bite the bullet", since i am a technical guy. then may try outsourcing design and get some friend help me out with marketing.
But the thought of compromising on one step like design and marketing is upsetting me.

I came across this question while becoming investor ready, it goes like this: "What is your dream vision ? that is what if i gave you a bottomless pit of money-what would you do ?"

i think i should ideally tread that path, work should be done on that level without compromising. After all its your baby startup !

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Permalink Reply by Sugandha Dubey on September 15, 2012 at 3:18pm

Quite tough ! Unless you have a lot of luck on your side along with a Brilliant product all sorted as a plan. 

The VC will be a tough nut to crack. 

The Indian Angels are who genuinely want to invest in projects are crippled by govt. policies !! 

Sorry to be the carrier of not a very " optimistic " news but such is the reality of doing business here. 

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Permalink Reply by Asis Panda on September 15, 2012 at 3:37pm

Sugandha no need to be sorry, thats the truth, as entrepreneurs we need to gulp down the bitter hard facts and move on. like many others i will prevail or get to know something new, isnt it. 

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Permalink Reply by Sugandha Dubey on September 15, 2012 at 3:49pm

I am all for encouraging the entrepreneurs in India.
Hopefully one day if I have the kind of resources where I get an opportunity to encourage I will. 

I am so clear on what i shared as I have been on the road for a while, and though its not easy to sum it all up but you need to have  a steely resolve. To keep the fire burning this is the best group in the country to draw inspiration as well as learn !

 

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Permalink Reply by Asis Panda on September 15, 2012 at 4:22pm

this group sure is. also a couple of others whom i owe a lot in t

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Permalink Reply by Rochak Sharma on September 15, 2012 at 9:51pm

Collborate collaborate collaborate with people in the same boat....look for small amount and small investors, take loan with family and friends. If you find  5 people interested in your post try to arrange for a meeting and have a joint forum and pool money...the investment only comes when you have working functional product and potential exist.

Also remember the small products are only successful if they are solving some client problem..Is it?

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Permalink Reply by Asis Panda on September 15, 2012 at 10:02pm

yes it is solving a particular problem.
collaborating doesnt content me as i think we need to give a lot of time to it for the next couple of months. Also geography sets us apart and i already tried working with geographically apart members, it consumed a lot of time and seemed ineffective to me.
i was wondering to hire interns from college. the place i am, i am confident interns would work for very less capital, they are impact motivated, but they will be restricted to limited time and wont continue as a "team" for long. Pondering upon it now

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Permalink Reply by Mitul Limbani on September 16, 2012 at 11:22am

My advise is to not wait for VCs / Angels, they wont come in coz 

• You dont have a product which works yet (completely)
• You dont have a team too 
• due to above two, you dont have a customer as well

Just get one of the above fixed first, and in my opinion Point 1 and 3, If you dont have a product which a customer is willing to spend money, then we are smoking high n dry !!

Dont think that VC money will let me buy everything I wanted for my startup, coz this is dangerous money, it wont let you decide anything other then the revenues :)

Mitul Limbani

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Permalink Reply by Jack John on September 17, 2012 at 3:33am

Do not think about vc at this moment just go ahead if possible invest and start with what you have,thats what we call a start up :)

Reach a point where with x amount of money you can generate y amount of profit, VC do not see the value x only see how much proportionate is y to x

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