#startuppayanam on 20/2/16, Saturday
I went to Gandipuram on February 20th to attend the Start-up payanam Event. It was organized for the first time. Mr Ebin accompanied us throughout the session. This event focused on providing basic things starters should know. We were taken to many places in Coimbatore and we listened to the stories of successful Entrepreneurs. A brief description on companies and the key take aways from their stories are mentioned below.
Icliniq is a virtual hospital. It seems to serve as a common platform for the doctors and patients to interact. This website was designed just to save time and travel. The patients can interact with the doctors at the comfort of their house. More than 1060 doctors are available from 80+ specialities available anytime to help patients. The list of doctors is available on the web and they can be rated by people. Each of them charges differently for various consultations like a Query, getting a phone call back and video chat. Icliniq has a separate team to rate all the doctors.
The challenges that they faced initially was they could not make doctors sign up in this platform. He met a lot of people but none turned up. Even his face book post did not gain likes. He then learned to dress informally and talk to people. He worked on what he could do to bring them to his website. Every time when doctors googled themselves, they could find this website which made them sign up. It took a couple of years for him to bring them together. It is true that only when the doctors ask a lot of questions, they can really judge what the problem will be. The quality of doctors is the one that differentiates them from the competitors and makes them unique.
Take aways Mr Dhruv’s talk:
· Failures are the stepping stones of success
· Learn from mistakes
· You will surely face a lot of challenges in any business. Have a mindset to face them.
· Put the right information across. Be honest to yourself when you do market your products
· There are millions of opportunities for Entrepreneurs in the years to come. Example : Building toilets in rural areas in a traditional way.
· Equip yourself with knowledge in the field of business you are in
· Efforts do not go waste. If you don’t succeed today, you are going to succeed tomorrow
· Identify the main problem, first.
· Secondly, imagine a solution to solve the problem in a better way.
· A business should basically solve people’s problems
· Do not worry about any failures
· Perseverance plays a very important role in any business
· When you do a business, do not care about the people who shoot unnecessary comments
· Go for a product company rather than a service based company
· Use psychology in acquiring customers
· Start any business after a ground experience
· Be confident about what you are doing
· Market your products to be known worldwide
· Higher the risk you take, higher the benefit is.
· Have an attitude of “Shamelessness” in Marketing
· Age does not matter for business. But have the necessary knowledge before getting into a business.
· Selling a bad product is difficult. Work on providing a good product.
We then boarded the bus to listen to the talk of Rakesh, Getvu. GetVu is a solutions provider on an idea to drive innovation through the rapidly emerging technologies of augmented reality and wearable devices. Their solutions focus will streamline supply chain management processes offering more accessibility to real-time data, optimized workflow efficiencies, and improved automation to manual labour processes.
· Focus on how to make ideas work out well.
· We need to change the world with our business
· Seed funding can be raised to get the company to the next level
· Crowd funding is a practice of funding a project or an idea by raising monetary contributions from many people. It is today often performed via internet-mediated. But it can also be executed through mail-order subscriptions, benefit events, and other methods.
· Kickstart is a seed fund with a mission to kick start companies.
· We need to target the market to sell our products. We should visualize who can use our product where and when.
· Keep on Researching on our business. See if there is any other way of doing the same thing better.
· Failures will teach big lessons
· Successful Entrepreneurs always learn from mistakes.
· Personal stories will have a direct impact on any business. Ex: A person trying to treat cancer because one of his loved ones passed away due to dreadful cancer. This person, doing a business for a vision will be more successful.
· Be confident about what you are doing.
· Starting and running a start up involves a lot of struggle.
· Go with the idea. Running with the intention of earning money and not with the idea is not good.
We were taken to MyPromoVideos. It was started in 2009. It is basically a start up working for start ups. They work on making videos to sell other companies’ product. The time for which they take to make videos depends on the client. Ideally, it takes a month’s time. Talking to their customers in person is not required every time. Their promo videos should not be more than 90 seconds. Including all the products of customers in avery short span of time is what makes them unique in this field. The quality of their videos also plays an important part in deciding their customers. After fx, Illustrator and Flash are the software they use for producing videos. They focus more on Animation pictures. They look for story telling (to check the level of creativity), humour sense and technical skills when they employ people. They do not have something called training for their employees. But, employees tend to grasp gradually what they do.
· The Community culture is very important for a company to succeed.
· Any business tends to acquire customers slowly one after one.
· Try to attract people towards your business and products
· Have a mission and vision.
· There are many challenges in any business. Firstly, the people in the society keep on questioning why did you quit a job and take a risk on your own. Secondly, maintaining the cash flow in the organisation.
· Focus on Employee satisfaction
· Get the right team and community for your business
· Cash is only a bi product.
Take aways in Mr Aravind’s talk:
· Be passionate about your business
· Entrepreneurship is a step by step process. It is like a formula.
We met the founder of MyLaundryKart, Mr Danush Kumar at Buddies cafe. MyLaundryKart is a company that washes and irons clothes. He initially targeted all the students of the Karpagam Institute of technology. Mr Danush is actually a student Entrepreneur. His initial investment was just 60,000. Only 50% of this amount is his’. He takes 2 days for only washing, 3 days for washing and ironing & more days for dry washing. He charges Rs.12 / shirt. The work he does for twelve bucks includes both washing and ironing. Currently, he has a team of eight members.
· Have the ability to convince people that you will succeed.
· Starting a business seems to keep yourselves distracted from the dull moments in your life.
· Be passionate about your business.
· Do not be afraid of failures.
Buddies café is exclusively for tea lover serving more than 50 varieties of tea under a single roof. The tea room also has different things that compliments well for a perfect cup of Tea viz a small library, musical instruments if you are keen on striking some strings or hitting a beat. Their goal is to serve the best tea from across the world and want to become one of the best tea rooms in India. http://vyapaari.in/buddies-cafe/
· Start small; Think big
· More the customers we have, better is our confidence level
· To retain your customers, entertain them.
· Plan to grow big years down the line
· Be confident and do something unique
· Support of team is necessary in business
· Focus on Quality.
Mr Aravind defined a Start-up to be a business that is scalable, non linear and yields repeatable revenue.
Niveditha, Snacksbar accompanied us at Buddies cafe. She had initially started a BPO but she dropped off since she did not earn enough. Then, she got into E commerce trading traditional sweets and snacks (Persishable) of TN, Kerala, Karnataka and Andra. She delivers it within 24 hours after the order is placed. She uses Fedex couriers for domestic deliveries and DHL services for international deliveries. She also produces healthy snacks and masala powder (employs only organic products). The people who are going deliver should have an experience of two decades at least.
We met to PSG Step to listen to Mrs Mohana Sundari, MD of Sharp Pumps. They produce pumps and provide to local & internal markets. She begins the work everyday with a prayer and thought for the day. Sharp has supplied Rohini Rocket bodies and valves when Dr APJ Abdul Kalam was the project manager. The take aways from her story is jotted below:
· Change is permanent
· Be confident and have trust in yourself
· Do not go to the past. Don’t Regret about anything in life
· Do not worry much about the future. Be at the present
· We can take a long time to decide. That does not matter.
· But, once you decide stick on it and do not change it
· Be peaceful in taking decisions
· Create a win-win situation for everybody
· Whatever you give today, will come in multiples to you
· Be Self confident and belief in Divine power
· Oscillating to the past and future will lead to negative thoughts
· Be cautious and alert at the present
· Practice Yoga asanas and Meditate for good health
· Decide as per intuition
· Have sufficient knowledge by visiting certain fields before starting a business
· Don’t deviate from commitment. Ex: Time
· Take care of quality of products
· No short cut for quality and success
· Attend your customers properly
· Go to events like BNI, TiE, Headstart, NAN etc.
· Always try to improve
· Be grateful to everyone
· Attend events to get updates.
· “All power is within you. No power comes from outside” — swami Vivekananda
· Always act but do not react to people who hurt you.
· Do not postpone things.
· Each and every customer is important in any business
· Customer is always right
· Give importance to quality rather than quantity or target.
Mr Mani, PSG STEP addressed us. They have an incubator cell in PSG to support the first gen Entrepreneurs. They are concentrating more on electronics, ICT and Nanotech. DSIR is a website and he advised us to visit it. They support only startups and production development. Contact firstname.lastname@example.org or 9944789225 for more details.
Abishek’s talk take aways:
· Don’t believe what you think is right and will be useful
· See what people are looking for and how it will be useful to them
· Do enough research before executing idea
· Plan properly
· Get feedback from customers
· Solve the existing problems using ideas
· Choose the right team
· Keep innovating to succeed
· Implement the right idea at the right time.
Native Startup Circle is a professional platform to bring all the start-Ups together along with the students. www.nancoimbatore.com, TiE Coimbatore, Headstart, BNI are some useful platforms to connect with people.
Helpr provides all the on demand house products to make the life of many people comfortable. They are operating in 5 cities in India namely Coimbatore, Chennai, Bangalore, Mysore and Hyderabad.
· Taking risks: Taking risks is a very important part of the story. Many people keep questioning why did you quit the job and start something on your own.
· Dream high; do not neglect to do it
· Think what people think about your product
· Undergoing struggles teaches us a lot of lessons
· Put your heart and mind into the work that you put in
· Make mistakes and then, more importantly learn from them
· Have Perseverance
· Solve the existing problems by understanding the problem
· This is a nation full of problems meaning there are a lot of opportunities for Entrepreneurs to succeed
· A smart enough business should earn you money ultimately
· Find people and make them responsible for every job. Give importance to job allocation and division of work.
· If you think you can solve a problem better than somebody else, then go forward and implement the idea. Otherwise, it is good to stay silent.
· Do brand the product as early as possible.
· Book a domain at the earliest
· We can use digital marketing. That seems to be a more effective tool.
· Offline marketing is also advisable.
· Attend customers at the earliest. Helpr attends customers within 2 hours of booking.
· The trust in the people whom they send is the one that differentiates them from their competitors.
· Work for some years for an experience. Then, start a business.
· Identity is more important in any business.