What should be the Key Role of the “FOUNDERS” of any Start-Up (Retail/Ecommerice/Others)?

By Sakshi Patheja on March 11, 2014 5 Comments / 1919 views

I would like your point of view for a Start-Up in the Food Business (Eg: Fasos, Goli Vada Pav or any other Similar QSR)

Assuming this Start-Up has been funded for at least 1 Cr in the First Round of Investments. Also assuming, the Head Chef is in place along with an identified HR head, A kitchen is in place and running and the QSR is in motion.

What should the Founders be focusing on? Should it be: (KEEPING in mind that no founder can be a Jack of All and Master of None)

1. Team Building?

2. Systems & MIS processes within the company

3. Customer Service?

4. More Fund Raising Hunts (Looking for more investors as an on going strategy, so that they can convert them by the time the need arises

5. Expansion?

6. Wastage Management?

I am trying to understand exactly what one should focus on as a Founder post the first round of funding.

Comments

Sakshi Patheja

5 Comments

Karan Pandhi March 12, 2014, 6:07 am

Hi Sakshi,

first of all Congratulations for receiving such a good funding.

I assume there are 3 people in your start-up, you, the chef, and one more person.

I will take the questions as follows:

1. Customer Service :

This is the most and centric point for any QSR be it Faasos or Goli or any other QSR. If they aren’t happy they won’t visit you again.

2. Team building :

This is where you will have to concentrate, you will need the right guys, and also will have to be strict and remove the wrong guys. If a person steals tell him to pack up and pay him and tell him to “Get Lost”.

3. Waste Management and MIS and processes:

I used to work with Oberoi’s and let me tell you they had a food cost of 20%. which meant that the dish they would sell had 20% of only food materials the rest was all pure service. Thus you need to keep an eye on Waste management and not hamper your quality.

but any normal QSR yet has 25 to 30% of food cost who has a few outlets. And if you have a single outlet you have to focus more on Waste Management.

MIS and processes can be made by you, and tweaked or refined time to time as you feel the need arises.

4. Why do you need more money, you have a crore. I would set at the least 3 to 4 stores in that huge summ of money, plus pay off a few of my old debts.

5. Expansion:

you have a crore invest that, let the customers pay you, you will get money from them.

A few points which I learnt through The Rodinhooders and others whom I have interacted along the last one year.

Kanchan Sir : “You don’t get paid by your Boss, but you get paid by your customers”

Puneet Sharma : “Don’t run after VC, first build your product”

Sumant Mandal : “VC’s are a pain in the ass”

Now about the roles:

You have to decide who will be doing the following

a) Talking :

You will have to talk a lot to customers, suppliers, property owners, and everyone else, chandawala (during festivals). You and your team will need a spearheaded as well as a calm and soft spoken guy for this spot. He will also need to be helpful and cheerful all the time.

b) Processing

For setting up the process I feel the chef and one more team member can sit together and decide how will you work the product and its process. This will help the team know that even if the Chef leaves the system is in place. You need not worry about it then.

c) Servicing

This is the make or break point, it’s all about Service in a QSR. The happy you and your team, the happy your employees, the happy your customers, the happy your bank balance. And when you’re happy and you know it and you really want to show it then CLAP YOUR HANDS.

These are my views and not cents they meant a lot so they are priceless to me.

Regards,

Karan Pandhi

Founder @ Veging

Tweet @Karanp17
Alok Rodinhood Kejriwal March 16, 2014, 6:00 am

U rock man
Alok Rodinhood Kejriwal March 16, 2014, 6:00 am

Can I meet all 3 of you and judge your SOFT SKILLS AS well?

Or do a skype call?

Write a mail to Maya@games2win.com
Karan Pandhi March 16, 2014, 7:32 am

Thank You Alok 🙂
Sushrut Munje March 20, 2014, 12:27 pm

Hey Sakshi,

Founders in a company should be focused on all aspects of running a business. Once funded so you could build infrastructure and teams to carry out daily business – a Founder should ideally receive reports from team leaders to whom the work has been delegated and be focused on growth + things around the corner. There is nothing a Founder can really ignore, but he/she doesn’t need to be hands-on for everything too.

Do let me know if I should be more specific. Thanks.