Bootstrapping- Challenges & Hardships

Startup Saturday delhi #ssdel

Who am I ?

Gaurav MishraHead Marketing @ Srijan

Co-Founder

2006-2009 2009-2012

● Founded 2006; College 3rd year● Hosting + Domain + Blog + Email in

1000 INR/year● 350+ customers in first year● Stopped new acquisitions in 2nd year● Clients kept us paying till 2011

Hosting for students

● Founded in 2009● Worked with Samsung, Micromax,

Aircel, Maruti, Aviva, Lava, VLCC etc.● Launched products; held blogger meets● Sold in mid-2012 to an american

investor. Ran for 3.5 years

Social Media Agency

Spot opportunities early

● Everyone wanted their website; email; blog

● No credit card; online payment was tough in 2006

● No Indian pure Social Media Agency

● Proven business in US● Large digital agencies

interested in social; Got no teams

Find your value proposition early

Solve real problems

What makes you different ?

Spend time in understanding client

business needs

Find a big client/partner and ride over

Give your consulting time

Make your client/partner succeed

Helps you focus on delivery

Pricing Mechanics

● Pricing: 1000 INR/yr; Cost: 446 INR/yr

● 56% profit ? Not really!

● 400% pricey than competitor in 2010; 200% in 2011 -- Bad move

● Markets booming with freelancers working on peanuts

20% will be dead Payments

Don’t be Cheap; Be Premium

Sell Value Not Price

Factor Tax; Admin/ Acquisition cost

Insist on getting payments upfront

Be profitable from day one

Well written contracts ensure timely payment

Save for 3 months ahead

People make or break business

● Hired smartest people around; friends, juniors

● For first 1.5 years all founders were lowest paid employees

● Wasted a lot of time/effort in admin jobs in first 1.5 years

● Gave room to grow and make mistakes

Invest in smartness/attitude

not experience

Hiring == ProblemGet an office

assistant. He/She will be a lifesaver.

Outsource what you can!

Hold yourself accountable

Find your mentors early

Be coachable; open to feedback

Bring advisory teams; SEO, Content, Finance

Treat People well

5 Commandments

Learn to Say NO

Have INTEGRITY

Cash is the King!

Be passionate

Questions@gmishra