@shuvi Isn’t @thearc_hq doing a good job of this? While I find @TheKenWeb@MorningContext cynical in their writing - flashy headlines and negative posts drive subscriptions I guess. Arc articles are facts based, insightful and optimistic. That is the only publication I read these days!
@NoBrokerCare@AmitKumarA is 2+ weeks (and counting) to refund customer security deposit really your standard in real time payments world? I have seen much less friction in dealing with a broker than your company @NoBrokerCare boss so what are you guys solving for?
I vacated @nobrokercom managed apt. >2 weeks ago & yet to receive my security deposit. Since then I got 5 calls from different members asking who did I hand the keys even though I emailed the info on the move out day. Raj, Antony in settlement team seem to be particularly (1/n)
…incompetent, the customer service is not reachable for hours and these guys after confirming the txn is initiated but couldn’t give clarity on when the amount will be credited in my account. @NoBrokerCare what kind of fraudulent processes seem to be rampant in your co?
Hopefully many of you find this useful - how to construct your pitch deck for a Series Seed/Seed+ round. A few points to note - keep it conversational to the extent possible.
I generally like to use takeaways as titles - and always recommend that if someone only read the titles, they should still have the story. This becomes especially important since most investors will do a quick look on a SmartPhone.
I even wonder if an Instagram reel type of format will be the right format these days...what do you think?
#PitchDeck#FirstPitchMeetings
For many entrepreneurs, the first pitch to any VC can seem intimidating - but there's really no reason for it. Here are things I personally look for and admire - I recently met a young company and I felt the founders had done a great job; so I now know it's possible.
1) First and foremost, come well prepared and be professional - this should mimic a sales meeting. Do the following basics right:
* Prior to the meeting do some research on the firm - who are you meeting, their LinkedIn profiles, the companies they recently invested in, their Twitter/LinkedIn profiles and comments - whatever you can find on them
* show up on time for the meeting - if for whatever reason you are going to be late, make sure you email or whatsapp in advance
* if you show up early, use the time to get familiar with the room, the equipment, getting on WiFi etc. In all cases be ready with your phone hotspot if you need to
* be prepared with all the slides/metrics/demos you plan to show in multiple browser tabs - don't fumble during the meeting
* when you start the meeting,
- do a time check and confirm how much time you have
- do a round of introductions - include everyone in the room, get their names and roles down
* Start with questions
- what is the background of the fund
- have they invested in any companies in the space
- have they met other companies in the space
- is the area you are in something they are both interested in and knowledgeable about
- MOST IMPORTANTLY - ask them what their process is, how much time to a decision typically, and what would make THIS meeting most productive
At all times, make sure you don't have a long list and you should read the irritation of having to answer questions in your audience - and preface it with things like "this is very helpful - couple more questions before I dive into what we're doing"
* When you then start your pitch, it is ideal if you primarily focus on answering the following 5 questions
1) Who is the ideal customer profile(ICP)? Why is this a large pool of customers?
2) What problem are you solving for them? Why is this a PAIN point and what is the cost of this pain to them?
3) What is the solution you are bringing
- Why is it materially better than the state of the union - ideally 10x better.
- Why is NOW the right time for this
- Why are you as a founding team best suited to address this problem
- What is the BEFORE and AFTER for the customer
- How much is the direct benefit to them - and what would they pay if you solved the pain
- Any Case studies of customers for whom you have addressed the problem - with testimonials
4) How have you funded and built the company so far - and what are you raising for the next 18 months. What will it get you to in terms of the business metrics?
5) How will this become a large company?
What assumptions are you making in this regard?
What gaps in the team need to be filled at senior levels and when - if right away, have you identified the Ideal Candidate Profile or better still, do you have people identified and committed to joining.
This is largely what needs to be covered in the first meeting - nobody ever funds in the first meeting, but many may kill the deal in the first meeting.
So be clear that the goal of the first meeting is to ONLY get the 2nd meeting.
If you hit all these points and the meeting has gone well, you can get into other operating metrics such as CAC, LTV, gross margins, growth etc. In all such cases, it is important to be honest with what you know and what you don't know yet. Nobody is expecting a perfect business - what we want are founders with good self awareness and intellectual integrity.
Hope this is useful. And while we do not expect founders to make the most perfect of slideware, in today's genAI days, the bar has been raised, and it's really time for one to have a professional look to the company.
Remember that you are evaluating the VC as much as they are evaluating you. Take pride in what you're doing, without being arrogant. Approach meetings and the pitch process as a partnership with a goal of finding a good long-term partner. Ask VCs where you are in their process - and what the path to money is. As long as you do so politely and professionally and keep following up diligently, the process can be both enjoyable and stress free.
Please tell me what else you have done well or seen others do well in the fundraising process.
In today’s Times of India
Suhana Khan, daughter of Shahrukh Khan, recently, at a public event, praised Alia Bhatt, daughter of Mahesh Bhatt, for being a role model for environmental sustainability by destigmatizing wearing the same ensemble multiple times through her repeating an outfit for a public event. Of course, this made me realize how much I, son of the generation that is bequeathing to its next-generation a climate crisis, have done for sustainable living by wearing not just the same clothes twice, but many times, but also underwear without washing during student days, conserving water in the process.
No, I kid. While this display of privilege from a superstar kid is funny and worth making fun of, as I just did, it still obscures a more significant point: privilege. Just as Suhana Khan's perspective on virtue might seem absurd to us, it's worth remembering that if we were public figures and our conversations were public domain, we would appear as out-of-touch with reality by those lower on the totem pole of privilege. If someone who struggles to put two square meals for their family heard us complain about lousy service at a restaurant or someone who has to walk miles to get drinking water heard us having a conversation about how awful flying has become, we would be as meme-worthy.
Just as Donald Trump thinks he built his own business after being given millions of dollars (in the seventies) by his father, many of us feel we got to where we are by dint of our "own hard work," being similarly blind to things we take for granted.
In an actor's roundtable, Ananya Pandey, daughter of Chunkey Pandey, wanted the audience to believe her life had not been easy because her father was not Bollywood royalty, as evidenced by him not being a guest on Karan Johar's show, to which Siddhanth Chaturvedi, an actor in the same program and with not her privilege, had quipped that where other people's dreams end, Ananya Pandey's struggle begins there. Game, set, and match, except that Chaturvedi, son of a Chartered Accountant, is as unaware of his privilege as Ananya Pandey is. Sure, his privilege is less than that of Ananya Pandey in Bollywood, but that does not mean that the starting point of his struggle isn't also the terminus of the dreams of millions of others.
And yes, the same applies to us.
Announcing @Primevp_in as an Investment Partner for Conquest ‘23 🚀
Prime Venture Partners is a venture capital firm that focuses on investing in early-stage startups with a passion for innovation and disruption. With a strong belief in nurturing groundbreaking ideas, they actively seeks startups in various sectors, including technology, consumer internet, healthcare, and more.
@AirIndiaX The concern is that upto 10mins before the already late departure, staff was absolutely sure there won’t be any further delay. An IVR few mins later for further delay by 1.5hrs. My booking ID won’t solve your staff’s cluelessness.
What is the most horrible airline experience you have had? Below are my top 3:
1. @AirIndiaX
2. @AirIndiaX
3. @AirIndiaX
In the rare situations when I couldn’t get a @IndiGo6E or @airvistara, AirAsia has always disappointed.
Most people who make money have no clue as to what to do with the money and make poor choices.
All wealth management startups I've met assume assumes that the only thing that matters is net IRR - again nobody seems to be willing to learn about the customer's motivations. They also assume that all customers are the same and want the same out of the product.
I'm yet to meet a startup that truly understands and segments of users from the get go. As a right-brained (bird-brained ?) investor my approach & risk appetite are quite different from a left-brained person - doesn't matter if both are the same age, have the same net worth & have the same goals in life.
Portfolio value growth are but one (necessary) metric to measure - but I'd love to see a wealth management startup approach this problem with a holistic view. What assets do I have, do I know why I got them, what do I intend to do with them, when do I plan to exit them, what I intend to do with the net proceeds? What am I building up towards? If I do have disposable money, what would give me the most satisfaction?
We are only just getting started - long ways to go....
Penning down his thoughts on the future of #edtech companies, here's a blog by @TheSwamy on the future of #edtech companies & the kind of businesses & services which will continue to grow.
We are excited to meet new founders and evaluate new opportunities in the space.
Read here: https://t.co/DD2DBbXBNO
Thanks @Primevp_in@amitsomani & @bits_pankaj for a great session on “starts ups in India”. My take away - life & professional hacks (#jugad) - be it getting dinner w/ families of senior hires or checking if a transplant has established roots - a home or school for a child. 👍
Fantastic Twitter Space by @Primevp_in
Key takeaways -
1. Talk to ex-employees to know the real stuff going on inside.
2. When leaving a larger org for a startup or starting your own, understand the WHY
Thanks @amitsomani@bits_pankaj
Stuck in the conundrum of starting up vs joining a #startup?
Join our spaces today at 8:30 pm as @amitsomani and @bits_pankaj share their learnings and tips to help you decide better!
🗓️Set a reminder: https://t.co/wPT9Ac18Rg
#careeradvice#Entrepreneurship
(1/3) I engaged @nobrokercom to find an apartment for rent in BLR. I have had great experience in the past and found a place fairly quickly this time as well. And booked the same with token amount yesterday - remaining to be paid at the time of move in next month. So far so good.