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Key strategies for a growing company
SCALINGUP
From Startup to
the Big Race
Venkat & Srivalli
Founders, eFarm
FranchiseIndia FRO2011 : Entrepreneurship ConferenceJan 29-30 2011 , Chennai
IntroductionsVenkata Subramanian
• Founder & Managing Director, Matchbox Solutions& eFarm, Chennai
Brief profile :MS (Computer Science), 2003,University at Albany, NY ,
B.Arch , IIT Kharagpur ,1995 , India
12 years of experience in IT industry in both technology & commercial roles (7+ years in US)
Head of key outsourcing & consulting accounts in Insurance, Capital Markets & Banking
Introductions
Srivalli
• Co-founder, CEO
MBA , B.Com Taxation
8 years experience in Sales,Marketing, & Operations. Hasrun two start-ups and organisedfund raising for NGOs as part ofCSR programs.
Responsible for businessdevelopment, finance
Currently Better known as ….
Hi-Tech Sabjeewallahs ;-)
So What Do YOU do ?
A Unique new Venture Creating inclusive social
change,Through collaborative
economic growth,By adapting various business paradigms,
To solve a burning crisis,In India’s Agri Sector,
By building aprofessional supply chain
network
Elevator Pitch | What is eFarm ? What does the Company do?
• procure vegetables and fruits from farmers and to supply to bulk customers in cities
• create end to end supply chain infrastructure, processes and technologies to make perishable produce distribution more efficient
Key pain points addressed :
1. Indian agri supply chain dominated by middlemen and unorganised , adhoc operations
2. Over 40% of farmers produce wasted owing to post harvest losses (logistics, storage, planning)
3. Complete lack of accurate demand or supply data , poor planning and management of resources
Key benefits1. Wider choice in marketing channels / sourcing options2. More information transparency and flow across the chain
through IT 3. Price stability through better planning and wastage reduction
Are you ‘Proud’ of What you do ?
• Spa = ‘ThelMalish’ ?
• Waste Recycling = ‘Kabadiwallah’
• IT offshore firm = ‘Software Coolie’
If you don’t feel proud of your work, no point pursuing it ...
Which stage of growth is your firm?
• It is YOUR baby , but you are NOT the baby !
• Parent’ dream v/s Child’s Abilities
• Pace of growth : Too fast , Too slow , Just right
Building a Team
• Whom to recruit
• Top management : Family or Professionals ?
• Mid management :– Brand college grads or Tier II ?
– Family v/s Outsider : Pros and Co
• One good person knows another good one : Referrals
• Recruit ‘entrepreneurs’ not just employees who look for passion + paisa
What to Outsource ? When to bring a consultant ?
• Mother’s care v/s Servant maid
• You may outsource your work, but you cannot outsource your passion and pride
Know Your Numbers
• Credit/debit
• Profit & Loss
• Balance sheet
• Cash Flow statement
• Read a good book which explains ‘Finance for Non-Finance people’
Forecasting growth
• Planning v/s decision making
• Daily decisions = audit – post mortem
• Simple tools for forecasting :
– Excel : what if analysis
– Data tables
– Scenarios
When to seek investment ,from whom and why?
You get money for just being cute
You sing Baba black sheepAnd u get money
If you pass exam you get your toy
Start making money and support your self and your family
Retire = Exit
Angel VC PE IPO
Technology
• First have a ‘repeatable’ process THEN go for technology implementation
• Software may be free (open source) but developers are NOT . Customisation and implementations are expensive.
• Lot of applications come prebuilt with business specific templates/features
Surviving the new jungle
• Besides financial growth
– Ethical , honest , transparent ( scam free)
– Environmentally relevant ( or Jairam ramesh will come after u)
– Socially relevant (poverty alleviation, social impact )
– Net savvy ( active online presence is equally critical to offline)
The Ideal Entrepreneur
Have the discipline of a soldier ….
.. Ready to jump into fire …
.. But still ‘enjoys’ doing the impossible !
Thank You
[email protected] 98847 61354
11 loganathan colony Mylapore, Chennai 600004Ph : 044-43577236
www.efarm.inLinkedin : AgriIndiaTwitter :venky_efarm
