Women’s Web is saying Goodbye! Please make sure you read this important notification.
Have a dream of starting a business, but worried by doubts and fears? These facts about entrepreneurship will give you courage while inspiring you to get started!
Taking the decision to start one’s own business or venture is never an easy one. There are these niggling doubts that plague anybody before starting: Is my idea worth pursuing, how much should I invest, when should I start looking for investor support, how do I build a strong team to set up a successful business, and the list goes on.
To support Women’s Web readers who have similar queries, we arranged a chat with Bharati Jacob, Founder- Partner of Seedfund recently, at our Facebook page. Seedfund is an early stage venture capital fund, based in Bangalore.
Seedfund saw the potential in companies such as RedBus.in, Printo and EduSports before these companies made it big. Bharati has more than 25 years of experience in venture investing, financial services and marketing.
Here are some of the points that Bharati generously shared with Women’s Web readers:
According to Bharati, age is just a number and the right time to start an enterprise is whenever you think of a unique problem that you feel strongly about and when you have found a very creative and sustainable solution for the problem.
The 5 key things that an entrepreneur needs to think about in the first year of business are complete focus on customers, listening to the market feedback on the product/service being offered, how to improve it, tracking the cash flow and understanding how the team works.
Bharati informed us that the key things that investors looked for in a business model while considering investing in the same are the team, the idea or the problem, the sustainability of the solution, how the solution is better than other existing solutions, how the company plans to sell/make money, how big the market is for this idea, how easy it is to acquire customers and the capital required to scale the business.
Having a great team for a start-up is critical and all stakeholders should give team-building topmost priority. Bharati added that investors spend a lot of time with the core team to understand each team member’s motivation, value system and skills before investing. Only once investors get some level of comfort after interacting with the core team members will they consider investing.
A start-up would be considered ready to raise funds when it had a very committed team, a team that clearly understood the problem that it is trying to solve and a team that was willing to learn from the market and from others.
The reasons for an investor not investing in a venture could sometimes have nothing to do with the team or the idea. Many a times, investors do not understand the business or have any competency in a particular area, because of which they are unable to evaluate the business and hence invest. Bharati stated that if a start-up failed to raise funds, then it must understand the reasons given by investors and see if it could try and rework the business model. There was also a possibility that investors could be wrong and the best way to convince investors was to launch and get consumers to buy one’s product/service and then go back to investors.
Bharati assured all the participants that there was no longer scepticism from investors when considering investing in a venture started by a woman.
The chat ended with Bharati giving all aspiring entrepreneurs who were planning to ‘Take the plunge’ one piece advice and that was to “Just do it!” and to enjoy the journey, since the journey of being an entrepreneur itself was a reward.
For a full transcript of the chat, please click here.
Whether you are just starting a business, or have been an entrepreneur for some time and want to grow further, Come and join us on September 12th, Mumbai at #BreakingBarriers – the place to network with fellow entrepreneurs as well as experts to help you grow! You will be attending a hands-on workshop and listen to many inspiring entrepreneurs who have made it!
Registrations here: Breaking Barriers To Growth: The Money Edition
Lifelong learner, Blessed mom, Avid reader, Yoga enthusiast, Experimental cook. read more...
Women's Web is an open platform that publishes a diversity of views, individual posts do not necessarily represent the platform's views and opinions at all times.
Stay updated with our Weekly Newsletter or Daily Summary - or both!
Dear Women’s Web Community Member,
You may have wondered at our being on the quieter side during the last couple of months. Thank you for your patience, and we wanted to come back to you with a detailed note on what’s been happening at our end of things.
When we first began Women’s Web, as a blog from one woman’s desk along with a few like-minded souls, little could we have imagined the heights that it would soar to. Over the years, Women’s Web has published over 20000 stories (almost all by women), empowered countless women with the ideas, community and resources to chase their dreams, employed hundreds of women in core and project-based roles, and in the process, emerged as the OG women’s community in India. It has also inspired many others to build communities of a similar nature, all enabling women (and other-underrepresented groups) in their own ways.
Please enter your email address