We’re seeing a real trend of zero-logistics e-commerce businesses scaling phenomenally well. Read Azim’s experience!
Sramana Mitra: Let’s start with the beginning of your journey. Where are you from? Where were you born and raised? What kind of educational path did you follow?
Azim Maknojia:I am from India. My parents shifted from a village to Mumbai city for better opportunities. That’s where I was born. My father came to the US around 1984. My mom was still back there in India. Within two years, we came to Houston and settled down here. I was about a year old then. >>>
Sramana Mitra: How do you price?
Chris Farrell: We price based on activity. For an active user or somebody who uses our expense report system actively in a given month, we charge $9 per month.
Sramana Mitra: How big are your deal sizes given the segment that you’re going after is the top end of the QuickBooks customer base? What is an average monthly deal size? >>>
Entrepreneurs are invited to the 232nd FREE online 1M/1M roundtable mentoring session on Thursday, October 2, 2014, at 8 a.m. PDT/11 a.m. EDT/8:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
In case you missed it, you can listen to the recording here:
You can find the dates and register for upcoming roundtables here.
A survey of more than 3,000 consumers conducted in February this year to understand car buyers’ behavior across the United States revealed the presence of a “trust gap” between car buyers and dealers. For instance, car buyers believe that dealers are getting significantly higher margins than what they actually get. According to the National Automobile Dealers Association, profits made by a dealer on a new-car sale have fallen from 5.5% in 2003 to 3.8% in 2013. Online negotiation and car buying and selling platformTrueCar (Nasdaq: TRUE) is hoping to minimize this gap in consumer perception by providing a more transparent solution.
Sramana: Somebody else made the film and you were distributing it. How did you get someone to let you distribute the film if you had not done that before?
Tobias Bauckhage: Nobody knew us so we went to film festivals and watched a lot of films and followed various films to see which ones would get picked up. We then evaluated the films that remained free to see if there was any potential in them. We were looking for a marketing potential idea around it. Word of mouth is everything for movies, so we needed to have some sort of marketing edge. >>>
Today’s roundtable started off with a great conversation with Tod Francis of Shasta Ventures. We started with a discussion on the history of retail, all the way from shoe stores, to departmental stores, and back to specialty retail. This was followed by a similar overview of the history of e-commerce ranging from Amazon’s strategy to how specialty retail is translating into niche e-commerce, and how Tod is looking at investments in the category.
In terms of pitches, first up, Jaskirat Singh from Chandigarh, India, pitched Webrosoft Solutions, a mobile app based solution for crowdsourced municipal notification. The company offers a subscription service to municipalities such that cities can roll out an app to its citizens through which they can report issues like broken lights, garbage pile up, etc. They have three paying customers, and are looking to grow.
Sramana Mitra: What is an average deal size for you?
Ric Leutwyler: For independent hotels, which average 80 rooms per hotel, the deal size is $5,000 a year or more. If you’re talking about a Choice hotel as a group, it is around $25 million. It depends on whether we’re selling to independent hotels, small group, or giant companies.
Sramana Mitra: So there’s no bias in there. It’s all over the place.