The Delhi based startup founded by Paras Chopra, has its beginnings in the humble notepad. Today the bootstrapped startup has 3,300 customers across 80 plus countries and has around $6 mn in annual revenues.
You’d find many of the articles on bootstrapping ridiculous in the Indian context. That’s because we have a totally different set of problems.
Whether you are bootstrapping or rolling in profits, a Diwali gift won’t make a dent in your balance sheet. You still have another day to go, do it.
Are India’s entrepreneurs making too much of a big deal of bootstrapping? Refusing venture money and selling themselves short? Asks Indus Khaitan, the co-founder of BitzerMobile and the founding partner at The Morpheus, one of India’s first accelerators.
My advise is very simple. Before spending on anything for your startup, look for the free alternatives available around you!
Don’t be in a rush. The cosmic dance happens at its own pace, and you and that perfect object will be united at the appropriate time!
Your goals are different from other people, and should not include brand worship, fitting-in. If you wonder more often that not what the hell you’re doing it for if you can’t even enjoy “these little pleasures” – you’re likely not ready yet so think hard.
Even though we have been approached by lots of VCs and angels regularly, we are happily bootstrapped. For a small team, we are producing enough revenue to easily fuel our future plans.
My advice to the budding startup is vanilla plain and simple. Bootstrap the startup until the concept is proven and the customer is ready with raving reviews.
I admire Sridhar, so I may be biased on this one, and I really respect Kunal too, so I really mean it when I say there’s not a right or wrong way. They are different guys with different ambitions. Who do you guys admire?
Every startup requires cash. It’s not built on thin air as early stage investors think. Money for paying the lawyer, government fees, hiring developers and more importantly paying your rent, food, fuel, etc. An entrepreneur starts with a calculated risk of investing (or burning through) his savings for that 6 months period with an assumption that either a customer would start paying or an investor would bet on it.
So, as an entrepreneur you fundamentally have to do something outside the scope of what VCs are currently investing in; if not you’ll end up doing yet another me-too company that doesn’t stand out. That means you have to consciously ignore a lot of the noise about trends, who got funded, the “blah blah blah” of the tech world. That’s the only way you’ll be able to focus on creating your own unique value proposition.
So how much does it cost to start a company in India? 2Lakhs/5? Prateek Dayal, Founder of Muziboo (read our review) does some math for you. – When we started…
[Guest post by Shabda Raaj, an entrepreneur who started 42topics.com, a site dedicated to finding interesting stories from the wild web. In this post he walks us thru’ few very…