1. Entrepreneurs and investors – pitch for fund raising is like “love at first sight, if chemistry is not there – difficult for arithmetic to work”!
2. Dealing with uncertainty and comfort to thrive in ambiguity – key DNA needed for entrepreneurs
3. US: 18-20k companies formed every year (20-30% get funding) vs India 1.5-3k (8-10% get funded) Failures: 60-70% in US vs India 40-50%
4. US companies exit at 20-30 Mn USD while Indian companies exit at 2-3 Mn USD. “Think Big” mindset lacks in India while we also are risk averse (is that why we withstood the global recession?)
5. It,s easy to set up and run a company outside India – dont ignore, cross border and global markets.
6. Entrepreneurial mind set is more important – everybody does not get a chance to start an organization but still hundreds of people with e-mindset help keep an entrepreneur going.
7. 90% of companies which raised VC or angel have failed and 90% of NASDAQ listed companies have NOT raised money! Raising money is a good validation of your idea but not a guarantee to succeed!
8. Is there a market for your idea? Does your idea add value to the customer? Is it scalable and sustainable? Key questions to answer before you take the plunge to be an entrepreneur
9. Look for complimentary skill sets in a co-founder. Early founding team should be comfortable in executing domain + 1 additional area which may not be their core skills
10. Why dont each one of you contribute to my 10th point – name an entrepreneur or an innovative idea you know which never got funding or publicity but still made a big difference!