As we all know, the industry has shifted towards a remote environment post-COVID-19 and is likely to stay that way for an extended time. Zoom has become the primary choice as the shelter in place orders have pushed people to stay home. Almost everything from birthday cake cutting to work meetings has shifted to videoconferencing. Recently, Zoom’s daily users were up 50% from the beginning of April — Zoom CEO Eric Yuan said during a webinar that the unicorn currently has 300 million daily active users.
In spite of being so popular, I was curious to know why industry giants like Facebook, LinkedIn, Zillow, Disney, and Intuit preferred Bluejeans over Zoom. According to TrustRadius, 48% of mid-sized and large enterprises (+1000 employees) have adapted Bluejeans compared to 21.1% that use Zoom. This article emphasizes on the drivers behind these statistics. Bluejeans has around 15000 enterprise customers to date. …
Even If a tech startup has two technical founders, one will handle the technical operations and the other will handle the business and people operations.
Irrespective of the size, every startup requires technical as well as non-technical functions. A role of a non-technical founder is just as crucial as the technical one. Even if the product turns out to be great, what good is it if the team is not managed or if customers are not aware?
Even though non-technical founders play a very important role in startups, it can be very challenging for them to manage the whole show by themselves. …
Competition is a healthy sign that validates if there is a demand in the market. Which means you can scale quickly — If you hit it. If the investors' question about the competition, you should not feel that they are attacking you or treating you as inferior. The idea of asking competition related question is to find out where your product is positioned in the market.
With competition related questions, the investors are only trying to understand if you have a strategy to deal with the competitors. Even if you are entering a crowded market, you should not be nervous. …
There are multiple Entrepreneurs who prefer to bootstrap their startups rather than raising capital from a VC, an Angel, Crowdfunding, or an Accelerator. There are startups that have been completely self-funded yet highly profitable right from the early stages.
ClickMob is a bootstrapped startup that has been profitable, since the third month of operations. The company has grown 900 percent in just two years. Forbes recently acknowledged ClickMob as one of America’s 30 Most Promising Companies
While raising capital can be remarkably helpful, it may also add an external pressure. Undoubtedly, VC funding helps startups scale rapidly, without worrying about the resources. Their idea gets validated from some of the most experienced mentors in the industry. …
With so many Wantrepreneurs on Instagram with Hashtags like #Beyourownboss, you would feel like its all glamorous. The reality is different from the virtual world. While Entrepreneurship can be exciting at times, there are also unavoidable challenges. It wasn't until I read this article on Forbes that I understood entrepreneurship can be a lonely journey.
Being forgotten or neglected is a fundamental human fear for anyone. Entrepreneurs are no different. You are in the small percentage of the society who no longer worries about getting fired.
Here are some of the experiences from the highly successful entrepreneurs, helping us understand the lonely journey of…
Pitching a VC is not only the most challenging but also the most essential part of a Startup’s success. A Startup can have a great product, but there are no rewards if the greatness can’t be expressed.
“Normally, A Venture Capitalist will have 500 face-to-face meetings per year, and less than 10% of startups will make it beyond the initial meeting.”
In such a time crunch, VCs are only looking for a reason to take you off the list and get to the most appealing pitches.
In spite of some brilliant ideas, there are startups that get turned down by the investors, just because of their flawed pitches. …
With the success of companies like Uber and Slack, it would seem like there is no better time for startups. While this is true in many respects, especially in the Silicon Valley where venture capital is flowing (helping startups to scale quickly), the truth is that most startups are barely able to survive.
Having a good product is an essential requirement for the startup to become successful, but not the only requirement.
According to a Harvard Business School study, approximately 75 percent of startups with venture funding will eventually fail.
Of course, most startups fail because of their incapability to attract new customers and retain them. While there are so many different types of startups, there are a few common reasons, why a customer won’t buy their product even if it is great. …
At the very least, company parties can become fodder for the next day gossips and complains. If given an option would you prefer going to the company parties, or would you pass?
I had a discussion with some of my coworkers who were venting out their frustration over parties. Company parties are considered as a platform for employees to like each other.
“66 percent of managers say showing up at the party is expected”,(PR Newswire). Its an unsaid rule that almost every employee feels liable to follow.
I am willing to work beyond my abilities for the pay I am offered. That doesn’t mean I am required to attend the parties. I am positive that there is a bunch of people that go back home after the party and say “ Thank God, The party is over”. Not everyone may speak up and say no. Who would want to risk their jobs, promotions or even reputation? …
In the past quarter, my sales have skyrocketed to a level that I had never imagined.
In the last couple of years, I was barely able to exceed my goals. I had a few opportunities in my pipeline that helped me meet my monthly expectations but that was it.
Something was missing that was hindering me from being at the top. I needed to be very careful with my next plan of action if I wanted to be an expert in the business. I was anxious, yet struggling to find out what can be different.
I was spending up to 60 hours per week, calling customers, drafting emails and visiting them. I was doing everything, to exceed my role expectations. These efforts got me some rewarding sales, but nothing that would create an impact on my career. …