In Richard Branson’s own words, ‘when you want to start something you just have to go out there and do it. There’s no point thinking about it. SCREW IT, LET’S DO IT.’-page 35
It is usually very easy to talk about ideas and discuss them and feel good about it. But it’s moments like these when you can no longer be a kid or a wannabe entrepreneur.-page 40
The greatest skill any entrepreneur should acquire is the art of negotiation. And to learn this art you don’t need any business school. Refer to the nearest aunty around you and observe her closely. If you can implement even 10 per cent of the mojo with which she bargains and implement that in your business, you’ll be hitting your first million in no time!So the next time you overhear any aunty saying, “That and all is okay but how much discount will you give?”---pay attention. Pay very close attention.-page 44
Every entrepreneur has to go through the ‘pitch’. That is what determines everything. ‘Pitch’ is basically how well you sell your idea and convince the other person about it.-page 45
Starting your own company is super fun. Don’t ever pass on that. Because after that first business meeting, a whole new rush of self-confidence flows into you.-page 56
If you are thinking of starting an internet company, go out there and check if the domain for the name that you thought of exists. There’s no point coming up with a name but having no domains available for that. Funny as the name may sound, but you can check for domain availability at www.godaddy.com which is America’s largest portal for domain registration.-page 80
This is extremely important if you’re starting a company of your own. You should know the answers to all the ‘WHYS’. Not only will it make things easier, it will also remove any ambiguity. For example, we knew we wanted to be an e-commerce store, we wanted to target the alumni and present students of schools and colleges, we knew that we wanted to be brash and young and we knew our core focus was going to be tees and hoodies. All of this would really help any designer to create your brand and website.-page 81
After ‘logo’ creation, the remaining list of collaterals is listed as under:01. Website02. Business Cards03. Letterheads04. Tags05. Labels06. Brochures07. E-mailers08. Tee and Hoodie (Product) Designs09. Stickers10. Brand Identity-page 96
An ecommerce store is built on platforms like Magneto or OS Commerce. These are free and very easily available online. The kind of designs you can create from these templates is mind-blowing. The credit card payment gateway is provided by vendors like CC Avenue. They give you a code and you simply have to install it and Voila! You have an ecommerce store. They charge about 3 percent for every transaction which is not a big deal at all. So think of this, had we started a retail store, it would have easily put us back by Rs.10-12 lakh and plus it had its drawbacks. You know how much the ecommerce store cost us? Only Rs.2 lakh!-page 102
(Motivation)-page 112-113
It is surprising how young entrepreneurs fail to milk Justdial for contacts. For every aspect of our business we’ve used Justdial. You need a courier company? Call Justdial. You need an accountant? Call Justdial. You need a web designer? Call Justdial.-page 117
It might not sound like a big deal now, since all e-commerce companies are offering this service at present, but it was revolutionary back in 2009. There were only a handful of e-com. sites offering it then and not many courier companies had the service ‘Cash on Delivery’ basically meant that customers paid for the goods they bought on the internet only after they received it. The courier guys collected the money and the courier company would then send a cheque due to us every fifteen days.This method of payment is an extremely important component for any e-commerce business because not every Indian likes to use his/her credit card on the internet even if it is perfectly safe.-page 118
Never forget this, guys. Place your brand name wherever you can. Anywhere.-page 125
I think you guys already know this but if you’re thinking of starting your own company, never forget one major thing – networking. You need to sell your company shamelessly. Like everywhere. During the initial days of Alma Mater, I practically lived in one of our Cottonian hoodies. Networking is the key, and if you want to be an entrepreneur, forget about being shy.-page 126
It is moments like these when everything becomes real – when you have to put every penny you earned into something you believe in.-page 132
You know what guys, before you start a company, get the basics right. Spend a lot of time and money on quality. If that’s taken care of, people will automatically tell their friends about it and you will not have to end up spending lakhs on marketing. There’s nothing better than word of mouth when it comes to spreading the word. Trust me.-page 146
Mr Rajan said, ‘I’ve achieved everything that everyone else wanted me to achieve. I’ve not lived a life I wanted to live. I’ve lived someone else’s life.’-page 151
Gujju boy said, “Dude, are you sure you want to do all this now? I mean you could do this later.”Varun replied, “Later when, dude? Like when you’re thirty-five? You are twenty-two now, if you have to take any risks, this is going to be the time. I mean imagine you’re thirty-five with kids and family, you wouldn’t want to leave your job then, man. There would be too much at stake then, right?”-page 161
That’s the unbelievable thing about starting your company. Every day is not only a new and different day, it’s an exciting opportunity. You get goosebumps when you get off the phone with a complete stranger who wants to invest serious money in your company.-page 188
You need to get the right valuation before you find an investor to come on board. Based on the valuation of the company, the investor will pick up a stake ranging from 10 to 30 percent. Valuation basically means determining the worth of a company. It depends on lot of parameters but mostly on the current turnover and projected growth at the end of three to five years.-page 209
No matter where you are, no matter what you do, I guess life is absolutely nothing without friends.-page 221
I just don’t understand women at times. They always complain that men are not chivalrous these days and when we guys actually do something chivalrous, their feminism comes out to defend itself.-page 227
Okay, just to let you guys know, it was not like Mal and I were – or are – millionaires or something. Our company was only being valued at that figure. This meant we could give away 20 per cent and get around 80 lacs to help sustain our growth. SO if you guys have this image of Mal and I driving our Porsche and living in a house like the ones on MTV Crib and all, then you will be very disappointed. But we hope to get there someday. We were not millionaires, but we did have a million dollar company. And that felt bloody good to know.-page 232
A few days later, we got a call from the Young Turks Show from CNBC. Young Turks is one of the CNBC’s longest running shows; it puts the spotlight on young entrepreneurs poised to become tomorrow’s leaders. The show traces their journey from who they were to who they have become. For the last eight years, this four-time award winning show has put the spotlight on the achievements of over eight hundred young dynamic men and women who have pushed the envelope to achieve the impossible.-page 233
Despite the success we have tasted, the entrepreneurial scene in India has yet to come of age. We still can’t boast of eighteen-year-old inventors, or twenty-four-year-old billionaires. Sadly, there is no place for college dropouts like Bill Gates or Mark Zuckerberg in our country. But the likes of Mal and me shall persist, no matter what the naysayers shall say. A day will come when India will become a teeming ground for entrepreneurs; when our students will be encouraged to learn and not mug; to lead and not follow; to think and not blindly write exams. Entrepreneurs like me can’t wait to see such a day. That is when we can truly say that the likes of Anu Aunty have been vanquished.-page 239
Don’t let any Anu Aunty stop you from doing what you want to do. Dick Costolo, founder of Twitter, famously said – “The key is to just get on the bike, and the key to getting on the bike...is to stop thinking about ‘there are a bunch of reasons I might fall off’ and just hop on and peddle the damned thing. You can pick up a map, a tire pump, and better footwear along the way.”-page 244
Highly recommended ‘books’ by the author:
- Losing My Virginity: The Autobiography by Richard Branson
- The Old Man and the Sea by Ernest Hemingway
Highly recommended ‘movies’ by the author:
- About Schmidt (Movie)
- Dead Poets Society
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