Excellent post from Dave – HATS OFF.
Dave has done BIG FAVOR to the new / first time entrepreneurs by speaking naked truth. Many of them are doing a great job but at the same time they really need to be shaken up.
Here is some of what I see / hear / encounter in the Indian Startup scene and some unwanted TIPS:
– Just give me money and I will take care of every thing else (TIP: guys come to back to reality, it takes a lot to build a business. You gotta build something really significant with out external money and prove yourself, before expecting someone else to write a check)
– I have been working hard and smart for 6 FULL MONTHS, how come customers and VCs are not falling at my feet (TIP: be prepared to rot for another 12-18 months, before people really start noticing you)
– I am doing every thing right but these damn customers , bloggers are not getting it, someone should throw water at them. (TIP – look inside, review your strategy and execution)
– I have talked to 5 VCs but they dont seem to get my product because they are fools / have vested interests / are incompetent etc. I am sure the next one I talk to will have better sense and will write be a check. Please dont tell me that I need to fix / improve anything on my end (TIP: No comments)
– I got funding, therefore now I am successful. I can spend as much as I want and have all my management stay in 5 Stars and travel Business and blah blah
– I have been running this business for 2-3 years, about time some body comes along to buy my business or give me 5 Million dollar funding (TIP: hey guys, value of your business is not a function of how long you have been runnding. Value comes from : market share, customers, revenues, traction, branding etc etc)
I dont mean to disrespect entrepreneurs, infact those are the creatures I respect the most. But some reality check will surely improve things, would love to hear from you…