Whys and Joys of Startup

Sujit PanigrahiBITS AlumniCo-Founder Convergent Technologies

Agenda

• Why• How • Joy

WHY

WHY DO YOU WANT to create a startup

• Do you have a pathbreaking/killer idea?

• Do you want to showcase your skills?

• Do you want to want to show that you can do it?

• Do you want to earn loads of money?

• Do you want to have freedom?

• Do you want to do it because you enjoy working with certain people?

The opportunity

• - to be in control of your own destiny• -to create something new• -to have an impact on the world• -to create your ideal cultured organisation• -to work with a dream team of people• -to create wealth

HOW

HOW?

• IDEA/PEOPLE/CUSTOMER – What comes first?• Establish the connection clearly right at the onset

• UNCONDITIONAL LOVE/TRUST• Love everyone, don’t be arrogant or way too aggressive. Treat it like your infant…

• VISION/END GOAL• Establish your entry/exit point to the game• Define SUCCESS

• BE PASSIONATE• Passion translates into joy and joy translates into customers

• BE AMBITIOUS to the possible extent• 90% of the startups fail

• DECISION MAKING FRAMEWORK

• JOY

Small Team

• Small team is motivated, everyone puts skin in the game and is visible to everyone else. There are no fence sitters, clear understanding of goals. You know each one of them, the question ”what do you do here” never arises…You work like a family

Everyone Contributes

Everyone contributes to each other. If someone has a trouble, someone else helps him out. People understand each others joys and pains.

Spontaneous Fun

• All small joys are celebrated. There are no planned events like corporate lunch or dinner or organised dance party or corporate outing. Small events create loads of spontaneous fun.

Common Understood Vision

• Everyone knows/understands the vision and works towards the same vision. It’s a common vision.

• Shared Values - DNA• Work Ethics• Shared Goals

MULTIPLE HATS

• You don’t have specific designations when it comes to work. You may have a designation, but you wear multiple hats same day or at a specific time.

Linkage to overall success

• Everyone is clearly linked to the overall success. Your work is as important as the others work and you clearly understand that your work will deliver a value to the overall organisation

Passion

• Being the idea originated from you, you have tremendous passion explaining your idea to the other. Its this passion which creates conviction in the other to buy your product/services. Every now and then you just think about your passion and applications that you can potentially create around your idea and everyone rallies around each other.

Surprise Test Everyday

• Everyday is a surprise test, you suddenly realise that electricity is cut-off because the bill was not paid, you rush to pay the bill. Its full of uncertainty each day.

• You realise that you have just won a customer, however implementation must happen in the next 2 days and you need to run pillar to post to make it happen.

• You realise that a giant has broken