Tune In For Some Entrepreneurial Insights
Mitti Ke Rang comes up with some interactive sessions and podcasts with topics that directly or indirectly impact our day-to-day lives. In this session, we had a conversation with Mahavir Pratap Sharma, Chairman of TIE Global Board Of Trustees, TIE India Angels, and RAIN (Rajasthan Angels) and also a serial entrepreneur and a part of social organizations. He explains how we can become a Successful Entrepreneur.
One of the major takeaways from the podcast is that to become a successful entrepreneur one important thing is daring to dream. Having an idea is one major step that you should have. So what you need to do is you need the idea, you need the board to see how this idea would work, is there any demand for the idea that you have, and are you worthy enough. All delivering that idea do you have enough money or bandwidth to make sure that you can appoint are at a level before you will do what the people for funding. All these you know hard questions to be asked to yourself or your seniors’ people or your mentors or college faculty members or friends and family and organizations.
Validating Ideas
Validation in the market by third party validation is very critical and for that, you have to put yourself in the shoes of the customers or the shoes of the developers.
You have to go to the market and see the P. O. C. and the validation of the idea. It is very critical among us as there is no short-cut to this. Validation is as must as without validation no matter what you think like an investor or what you think as an entrepreneur don’t make sense because we might disagree with the buyer; who may be paying for it or subscribing to it. They will determine whether this will work or not. So it’s very critical to think whether the idea will work or not.
He discussed the things that are needed while investing in a start-up
- A strong Team
- Strength
- Ability to deliver the problem.
- Ideas itself whether it is a need at this time or not.
- Better Technology to scale up the business.
- A bigger market
- Moderate Competition
- Valuation for the team
He discussed some key elements for a proper Pitch/Pitch-Deck like :
The first slide should have the strongest points like-
- If your team is the strongest point.
- If your idea is from this point.
- If your solution is the strongest point.
- If an idea you have that is from this point
- If you have been in business for one year we are the traction and growth in numbers is your strongest point.
- The revenue with your strongest more into profitability growth properties.
So the strongest points should be highlighted in the first 2–3 slide because that will urge the customers to see more and then the next 5 -7 slides should be the generic stuff that you need i.e. the competition, what is your unit economics, what have you done so far, what is the road map, do you intend to grow, and so on.
He also discussed how to overcome confusion?
- To get through the confusion, you must get off the lounge chair, accomplish the work, and push past those business visionary difficulties.
- You need to escape your customary range of familiarity and get more befuddled to end confusion.
- You need to make a move, shake things up, change some stuff in your life!
- Staying in a similar spot and thoroughly considering your method of it won’t work.
- Keep it straightforward because there are just three different ways to develop your business, so be focused on the moves you make.
- Taking activity is the main fix when you feel confused.
Digital Marketing in the Future
Everybody in the nation inclines toward advanced advertising over everything else. Even the new companies are dispatching their business through advanced advertising. This stage facilitates the cycle of each business. The organization doesn’t need to convey the labor to go genuinely into the market and advance the item.
It offers a wide scope of prudent, incredible, and contemporary instruments and mechanisms of promoting. Each sort of item and administration is presently deciding on the choice of digitalized showcasing. Since they understand this is the shown stage.
According to him, The scope is wider when it comes to digital marketing. Digital Marketing will stay as the most remarkable method of Marketing later on. In any case, as the elements of digitalized showcasing are changing each day, an advanced marketer must be dexterous, ready, keen, and adjust to the most recent changes. That, yet the digitalized marketer of today and tomorrow will likewise need to envision changes and actualize its route sooner than the change occurs so exploit it.
Contributed By- Ankit Singhal, Content Writer @Mitti Ke Rang
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