Ask Me - Business & Startup Advice

Ask Me - Business & Startup Advice I have more than 10 years of experience in startups. I used to handle entire strategy of companies/startups from planning to ex*****on .

I founded three startups and learnt everything required to take your venture to successful exit.

28/12/2017

What's your resolution this year?

26/05/2017

Internet will cut Intermediate one day , I believe in this.

Do you believe? Share your views.

Thanks

When you should quit your full time paid job? I always suggest newcomer to never quit your job till your prototype is re...
18/04/2017

When you should quit your full time paid job?

I always suggest newcomer to never quit your job till your prototype is ready and got first paid customer. Same time you should be financially strong if you are married and having a family so you can run the show smoothly otherwise it will lead you to mental stress.

So before starting do the market research, find the co-founder , and then sell the product/service.

For more information, feel free to reach us.

Thanks

Power of Marketplace - let me put very straight , have you ever visited to Meena bazar in Delhi or commercial street in ...
18/04/2017

Power of Marketplace - let me put very straight , have you ever visited to Meena bazar in Delhi or commercial street in Bangalore. These are the perfect example of marketplace. You may find many shops , such marketplace is generic where you get everything.

So when offline marketplace is generic, why can't online marketplace. Where users gets everything from pin to plane.

But million dollar question here is can be such marketplace profitable? Let me tell you - marketplace model is very difficult to crack as business owners always prefer to cater their customer first till they get sufficient lead from marketplace. So finally you enter into chicken and egg problem. First get business owners to list in your platform and then attract customers; And you can not attract without offering discounts etc etc.

In my opinion - Build a marketplace with better control - Build a robust customer care support who handles your customer efficiently and start in more than 10 cities minimum. Never focus in one cities otherwise you will end up burning lot money. I exactly did the same in my last venture and did it successfully.

For more info feel free to connect with me.

Thanks

25/03/2017

Opinion matters....

Share your opinion - A taxi union/government body in metropolitan city creates an APP and invite all taxi to register with it and charge only 5-10% commission on every ride. Does it replace Ola or Uber from the market. Where they spend huge money on customer and cab acquisitions?

Let me know your view.

28/02/2017

Funding???
In last few years the game has been changed & i see many founders run behind funding. Do we really require Angel/Seed funding to start venture? I would say it depends on founders and their decision. If funding has taken for burning in terms of discounting - I would say never take that path.

If you need fund, then it should for product development or expansion rather than spending intensively on customer acquisitions.

Your focus should be building a world class product or if it is service then quality. If you succeed in giving best service and build that as USP, customers will find you somehow.

Initial days of your venture, Word of mouth would be the best marketing channel. You will see game change very soon and able to build sustainable growth soon.

Feel free to reach me for any assistance.

Thanks

Karunjay Anand

28/02/2017

Plan A or B? You must have stuck some point of time to identify what best for your venture. Let me tell you this is really a critical decision and it can make it or break it.

So how to handle such scenario. In my opinion choose the plan for long term profit. Never ever take a decision for short gain.

Sometime your decision can take you to layoff your favorite employees or co-founders, but for company interest you must go ahead.

Feel free to reach me to discuss in detail.

Thanks
Karunjay Anand

27/02/2017

Unit economics?

Revenue = Operating cost + Marketing cost + Technology cost, then you can call revenue is break-even.

Revenue > Operating cost + Marketing cost + Technology cost, Then you call it profitable

Founders must think to make their business profitable from day one. According to me, Investors money must get used for expansion of business rather then managing company operating cost.

Hence, you business/revenue model must has unit economics and self sustainable model. Such models even investors like to invest.

Make your business profitable since day 1.

Thanks
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27/02/2017

Advice - Is your business model need to focus on B2B and B2C both?

Suppose you have built a platform for used car and so you need to attract customers as well as dealers? What you gonna do? Will you first approach dealers and have a strong inventory or will attract customers and do inventory later?

Chicken and egg problem huh right?

The best way to handle this to attack simultaneously both side ;
1. First need to get few dealers on board
2. Upload inventory from them
3. Get a simple website up and running
4. Do the Facebook promotion and if possible google adwords to attract customers. (Adwords gives more click and so conversion in comparison with facebook.)
5. No need to invest on APP at very initial stage.
6. Don't forget to have visitors chat integration in your website.
7. Make sure you have complete information about vehicles, so you don't go every time to dealer for customer's query.

Feel free to reach out to me for any clarification/concerns.

Thanks

Karunjay Anand

Hello Friends!If you are looking for assistance, please feel free to ping me. I would like to assist/mentor if1. Plannin...
27/02/2017

Hello Friends!
If you are looking for assistance, please feel free to ping me. I would like to assist/mentor if
1. Planning for new venture, Or
2. Trying to find revenue/business model , Or
3. Marketing/Business strategy of venture, or
4. Helping to find Angel/VC funding, or
5. Partnership etc.
I work as strategic consultant with many startups and have around 10 years of experience in running own ventures. Please feel free to reach out to me for any kind of assistance. Thanks

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