Bangalore CEO Forum meet – Mar 2016 Edition by DeveloperOnRent.com
Growth of startups in India has led to an increase in the number of mentorship and networking programs to help startups at every stage of their journey. It’s a revolution taking place in the world of startup growth, and IndianStartups in association with Derbi Foundation and DeveloperOnRent hosted the March Edition of Bangalore CEO Forum Meet. The forum wanted to help people understand this new phenomenon, The Art of Growth Hacking. Those who understand growth hacking will have a competitive advantage that is hard to overstate, and the event provided a framework for thinking about it.The event saw a good turnout and enthusiastic audience.
The event started with Toastmaster Kishore along with Arjungiving the welcome speech and introducing the speakersand guiding the attendees throughout the event making sure everything is presented systematically.
Samir Chaudhary, our first speaker for the day came next to speak on “Growth Hacking with Media for Startups”. Samir is the Co-Founder of ‘The Media Ant‘. Early to this, he had been a Product Manager with Britannia and Marketing Head for Redbus. He had also worked with Reckitt Benckiser USA as a Brand Manager delivering exceptional results.
He spoke in depth about the simple and effective growth hacks and how media could help startups grow. The experience and examples he shared in building ‘The Media Ant’ were very helpful. Key takeaways from his speech were:
Learn the discipline of money
Startups should avoid burning too much cash early on. They should try to conserve money as much as possible. They should look for sustainability and monetizing their business model.
The whole genesis of Jugaad- Do more with less
Understanding your customers and product well and then using media appropriately is very important. Hacking is when you don’t use the traditional ways of growing and instead leverage from the little resources you have.
Growth Hacking happens, it isn’t made
Viral videos are not made, viral videos happen. Similarly, Growth hacking happens and it is not made. The whole idea is how fast you try ten different things, fail at it and quickly grow.
Use what is free first
Leverage different social media platforms to make your first 100-200 customers. Understand your consumers very well. Having hundred rupees and spending it completely is easy but finding a way of spending just 10 rupees from that and growing is the art of growth hacking. Seek opportunity in diversity.
The next speaker of the day,Suryanarayan A spoke about “Operational challenges in scaling up and how to address them”. He is the CEO of DERBI foundation. He carries 25 years of experience in the Indian Healthcare Industry serving multiple roles. He is a Serial Entrepreneur, Startup Evangelist, an Angel Investor and an approved incubator.
He spoke in-depth about what startups and entrepreneurs should focus on, and what are the pitfalls they should watch out for. Key takeaways from his speech were:
“My Startup Idea is too unique to be shared” is a myth
Just look at the countless companies that offer the same product. If you have an idea for a startup, there’s a very good chance that there are a multitude of other entrepreneurs working on the exact same concept. But don’t let that deter you, as you should focus less on the idea itself and more on how you plan to execute it.
You should tell everyone about your Startup Idea
When you build a startup, you’re basically creating something that doesn’t exist already. In order to figure out if your idea is actually going to work, it’s essential that you share it with people you meet. You’re going to have to do it sooner or later. The longer you leave it, the more risk there is that you spend a long time working on it, and then eventually you put it out there and find out it’s not something that resonates. By sharing your idea with as many people as possible, you can get feedback early on to prevent wasting time on an idea that won’t sell.
Customer is your best Teacher
FFF- Friends, Family & Fools are your first source of funding!! Spread the word and bring in new business. Don’t go for money, let the money come to you. Don’t raise money at the wrong time. Improvisation is about, how you let the money come to you and then you use it wisely. If your product is valuable your customers will come back to you. They are your best source of generating money.Leverage your assets well.
Choose to get into entrepreneurship for the right reasons
Startups and entrepreneurs should be looking to solve genuine problems, and profitability shouldn’t be the sole goal for them. Focus should be on what value startup provides to its customers and what social impact it can have and how it can ultimately help you scaling up.
Kishor Jagirdar, our final speaker spoke on “Growth Hacking using Design Thinking for Startup CEOs”. He is the chairman & MD at Infospace Management Pvt Ltd. He is Strategy & Change management Specialist, Venture Investor and Startup Mentor. He is also ASSOCHAM member for regional council for Karnataka State and Advisory and part of many such well-known assemblies.
He spoke in depth about the importance of the concept of design thinking and implementing these drastic changes effectively into the Startup ecosystem.
He spoke about pride in our Indian roots, our rich civilization and traditions by giving significant examples. The key takeaways from his address were:
What is Design Thinking?
Design Thinking is the confidence that everyone can be part of creating a more desirable future, and a process to take action when faced with a difficult challenge. Design thinking is no longer a strategic planning. It is a creative process based around the building up of ideas. No boundaries are put across. It is walking into the space of unknown. One must have an observing eye and a constant sense of wonder.
Importance of Design Thinking
Understanding the needs of your audience through design thinking is the first step, and critical foundation to creating solutions that solve real problems, create great experiences and improve life. Innovation is the byproduct of design thinking.
Companies rarely get the solution or the design right the first time. Understanding and expecting that teaches us how to test early, often, and adjust accordingly. It’s OK to fail…but learn how to do it quickly, efficiently and learn from the experience. Apply into the design and come with the solution.
The approach of problem solving in design has two different ways- ekaváda- anekaváda. In simple terms convergent and divergent thinking which means you either get one solution and you solve the problem or you look into the problems so intensely that you come up with multiple solutions.
In the design thinking world, “thinking outside the box” is a cliché buzzword that might earn you a groan. Design thinking isn’t just about thinking outside or inside the box. It’s about empathizing with it. Knowing when it’s a sphere helps too.
Following the speakers, three informative talks weredelivered by the sponsors.
Kapil Mehta, Founder of DeveloperOnRent.com spoke about his journey of last 2 years in front of the enthusiastic audience and gained valuable feedback too. He shared the insights of platform with benefits for both customer and developer, Shared achievements, failures and learning. He emphasized the need of such platform which is purely driven by value, process, tech and framework.
A simple three step working model of click, rent and work, introduced by DeveloperonRent has many benefits apart from the ones mentioned above including the expertise of the developer within wide professional platforms including expertise in various technologies across Web, Software, Mobility, Cloud, Analytics etc., among many others.
A fresh approach to the long drawn freelancing model that lacks follow back during crisis, no hold or accountability over the developer and where everything is virtual, DeveloperonRent gives you ownership, accountability and a strong governance team where you can literally “pick up the phone and build up work structure!”
Get in touch with DeveloperOnRent.com – Kapil@jjbytes.com / +91-7411121199
Writer- Harshal Sancheti
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We are hosting April Edition of the CEO Forum meet on Apr 23rd at Derbi foundation and the details will be posted shortly in this link:
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