Limitless with Ishan Podcast - Discussion with Entrepreneurs

Participants

• Sanjiv Chandani
• Ashish Mohapatra
• Sarthak

Purpose of the Podcast

• Audience: 20-year-olds aspiring to start a business in India
• Discussion on various stages from idea to setting up a business
• Personal experiences of each guest in their entrepreneurial journey

Key Points Covered

Introduction

• Ishan - Host of the podcast
• Introduction of the guests: Ashish, Sarthak, Sanjiv

Discussion on Ideas

• Ashish:

  • Ideas can come from varied stages
  • Experience led to the realization about UPI and lending
  • Indian education system lacks preparation for business
  • Best way: Work in startups to gain experience

• Sarthak:

  • Impact of pain points and market research for discovering ideas
  • Risks of young entrepreneurs relying on personal pain points
  • Importance of experience and working under someone to understand the industry better

• Ashish's Perspective on Finding Ideas in India:

  • Experience, personal pain points, and market analysis as sources of ideas
  • Risk for young entrepreneurs: Lack of substantial market pain points
  • Importance of scrutinizing market size and thirst for experience before leaping

Insights and Approach

• Sarthak: Prospects for young entrepreneurs in India
  • Use of no-code tools to create small tech products
  • Starting trading or small business with low capital
  • Leveraging platforms like Amazon to analyze trends
  • Global opportunities like in African markets

Experiences Shared

• Sanjiv: Insight-based ideas
  • Salary survey product from observing IM Ahmedabad placements
  • Trademark search database product from internship experience
  • Naukri.com idea from job section passion in Business India
  • Menu aggregation idea stemmed from in-house cafeteria observations

General Observations on Startups & Government Role

• The risk of government intervention becoming a competitor
• Example: UPI in sovereign consumer infrastructure
• Strategies to overcome risks: B2B products or unique consumer distribution methods

Startup Challenges and His Experience

• Discussion on Ashish's company:
  • Starting the company amidst competitors like Paytm
  • Strategies undertaken to compete and survive
  • The challenge of larger players and government regulations

Key Insights and Lessons

• Strong focus and perseverance needed to succeed in startup landscape
• Realizations on appearing more professional and knowing the competition deeply

Role of Investors and Fundings

• Need for investor backings to scale
• Dealing with complicated term sheets and aligning with investor interests
• Scenario of startups thriving with fundings and the associated challenges

Managing Team and Culture

• Sanjiv: Evaluating ethics and integrity
• Hiring fresh talent and campus-like environment for nurturing
• Sarthak: Balancing expectations and keeping track for effective learning

Sales and Negotiation Techniques

• Ishan: Importance of honesty and clarity
• Ashish: Process-centric sales; influence and respect in negotiations
• Sarthak: Using patience and timing in negotiations

Rapid Fire Questions

• Passion indicators: hunger, energy, dedication
• Evaluating prior feasibility and the entrepreneur’s capability
• Personal anecdotes and lessons from managing teams and dealing with challenges

Conclusion

• Reflection on future goals
• Considerations for continuing in the same track or exploring new avenues

Closing Remarks

• Emphasis on staying relevant and constantly assessing self-goals
• Experiences from various entrepreneurial journeys as learning points

Thank you for watching and listening!