There has been a steep rise in number of startup companies in bangalore over the past couple of years, and every startup founder is going gaga over funding, so I thought it’d be a good idea to share the importance of business planning and chalking out the proper strategy with the young entrepreneurs.
I’d be one of the speakers at Payoneer’s event at J W Marriott Whitefield, Bangalore on Dec 16, 2015, where I’d talk a little about my journey of 8 years of entrepreneurship, how some of funded startups failed due to lack of proper business planning, while even well-planned bootstrapped companies went on to become the next Unicorn and got valuated at billions of dollars.
You can register for the event on http://bit.ly/PayoneerBangalore
I’ve been noticing new startup companies in bangalore coming up every other day, but not many of them have managed to sustain.
Aspiring entrepreneurs need to understand one thing clearly though, and that’s the very fact that it’s not just about fundraising! If you’re able to bootstrap your venture, and even generate enough profits to keep it running, the it’s an achievement in itself.
I never took any angel funding so I took several years to bootstrap and expand, which otherwise could have been much faster if i had raised couple of millions from a VC. At the same time, the growth path could have been quite different if I didn’t have all the flexibilities to experiment and change the focus of Webfosys Group at each stage.
While getting funded is often treated as a measure of validation of a startup, founders must never forget the fact that fundraising is not just a one-time activity, and you’ll need to raise more funds every 15-18 months to stay in business, and expand.
Since there are literally countless startup companies in Bangalore, the chances of survival of a new startup are much lower than before, when there used to be just a handful of startups in the city.
I’d like to invite all Bangalore startup founders to attend this event, and also connect with me over Facebook or e-mails to seek free social media help, and advise on taking their venture to the next level (otherwise I normally charge min $99/hour for consulting and $299 for laying a proper roadmap)
I also have something very exciting for all the startup founders in 2016 – just drop me a PM/comment on FB or drop in a mail with a brief about yourself and your venture, to my ID – email@example.com – once I’m connected 100+ active people, we’d start this during Jan 2016.