8 Startup Lessons From Building a Rs 1 cr Company From a Small City

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8 Startup Lessons From Building a Rs 1 cr Company From a Small City

[Editorial Notes: Often, the problems of starting in smaller city are very different from the problems of starting up in a larger city. While there are different problems, some solutions and tactics work everywhere. In this guest post, Santhosh Govind, Director – Marketing of MyPromoVideos talks about some of the things that worked for them.]

We just made our first crore and it was not easy. Being based in a small city (Coimbatore) we had little physical access to the market. But the Internet and social media has changed everything. We still have a long way to go. But along the journey, we’ve learned a few lessons that got us to where we are today. Sharing some of them here.

1. Team WorkTeamwork

It pays off every time. We believe in collective thinking and it had paid off every time the four co-founders agree on something as a whole. Things will fall in place whenever we start working on something as a team. It may be mere coincidence, but when we have an idea that excites all four of the cofounders, we have struck gold.

2. The Quick and the Dead

An idea should be implemented as soon as it is generated. On an average, an idea generated by you will be generated by at least 20 like minded people around the world. So, if you don’t cash in with your ideas faster, you will be outrunned in the race by someone else.

3. Understanding the Client

The best way to serve a client is to know his expectation accurately understand his needs and by setting a proper expectation by recommending what works best for him/her. Because most of the clients will not have the knowledge about what works for them best though they have some idea of what they want to achieve.

4. Portfolio Is Key

Building a solid portfolio is very important. So sometimes we have to say no to some good clients who cannot help us building our portfolio.

5. Focus Focus

It was during the month of January 2012, we shifted our entire business towards custom explainer videos at a premium price. It was an important decision for us to have a take on pricing our videos. We did not want to scale the business by doing more videos per month instead, we created quality videos at a smaller scale. This helped us in spending more time on each project to bring out the best story for the brands.

In 2012, our CEO (Gopal) took on the role of heading sales and we had a new CEO. Although ti was a tough decision to make, it helped us in spread equal concentration on sales, positioning and business development.

6. Work Life

We try to create a friendly relationship between the management and the team. Its an easy to approach culture, where the team can work autonomously and every aspect of their work will be rewarded with perks and incentives.

As a company policy, everyone leaves office at 6 pm everyday. We believe that when we take care of our personal lives better, we can concentrate better on our professional lives.

7. Managing Projects on Facebookfacebook_logo

We use facebook as a project management tool. The client active participation and responsiveness has tremendously increased after using Facebook closed group as the project management system of Mypromovideos

8. Generating Referrals

Nearly a third of our sales are through repeat customers and referrals. Explainer videos are in a great demand and there are very less studios which produces extraordinary quality videos.

We set up feedback calls with every client and when they are happy, they refer us to their friends. Adding a signature to the videos we create, we get leads when other business sees a video produced by us on a website.

The best possible source of leads is through word of mouth. If you deliver quality to your client, rest assured that he will be more than happy to introduce you to as many people as he can. Thanks to social media word of mouth has become more effective.

Image credit: Shutterstock

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