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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up 1
India Fund IIPresented by a guy who hasn’t done it any other way…
Start Like a Start Up
IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Most offline entities look @ the Internet as an extension of current business
VS
Starting a new Business
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Every new POS thus far has required the same base level strategy
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Now consider, not a new POS, but a new Industry…
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Let’s say you sell Garments today…
Tomorrow you want to sell Rocket Ships
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
To NASA!
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Would you use the same:
Governing principles?
Strategy?
Employees?
Metrics?
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
In fact, Before you start you might even do some research….
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
The Internet is like a Rocket Ship Company! A different world
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Even kids can do this!
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Business Development
Delhi
25 years old – 3.5 billion
Product / TechnologyBengaluru
24 years old - $1 billion
Finance / StrategyMumbai
26 years old - $6 billion
IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
But wait Sid! Is the Internet really that different?
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Well, Let’s take a look…
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Starting an Online Site:
1. Quick and Easy
2. It’s Cheap
3. Not manpower intensive
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
What does this mean:
1. You don’t need expensive technology
2. You don’t need massive infra
3. You don’t need to many people
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
But wait Sid! What do we need to start?
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
1. 24 hour Sales Cycle
2. National / International Reach
3. Collect Data not normally available
4. Look bigger than you actually are
5. Customers can promote your product so easily
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
1. All about crunching numbers
2. First you need to know what to collect (Good luck!)
3. Analyze
4. Act
5. Adapt
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Digital trail
track online activity
Time spent on site
Page views
Deal response
Which products purchased / which not
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Leveraging Analytics
What conditions lead to more sales and what actions do
you need to take to make that happen?
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Adapting
Getting away from “doing things the way they were
done”
Based on data you are collecting now!
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
1. Less Customer Contact
2. Customer has no touch / no feel
3. Trust issues
4. Less impulse buying
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
So, as a running business, how do you plan your online
strategy?
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
Think about like starting a new business all together….
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
1. Study the marketplace / the industry
2. Hire the right people, not delegate to convenient
people
3. Keep an eye on the finances
4. Test your ideas constantly
5. Be hyper critical
6. Stay focused
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
But most importantly, realize that it’s very difficult to run
a business
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IRE 2013 FEBRUARY 1, 2013
Start As A Start Up
So, can you imagine running two businesses at the same
time?
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