During this week’s roundtable, we had as our guest Nick Adams, Managing Partner and Co-founder at Differential Ventures, an enterprise focused firm. We discussed counter-cyclical ventures in this Covid-19 world. Menerva SoftwareAs for entrepreneur pitches, Geetha Ramaswamy from Chicago, Illinois, pitched Menerva Software, a software services company that is bootstrapping towards a product. C-Way Electric
Sramana Mitra: What is the go-to market strategy of the diagnostic product? Ritesh Agarwal: They’re mostly in B2C. They’re selling the kit on Amazon or through their website. They want to go into more wellness sites – into B2B. That’s their next step.
Sramana Mitra: Are you familiar with ButcherBox? Elly Truesdell: Yes. Sramana Mitra: I did a story with the entrepreneur. What struck me was that one of the things he faces when talking to investors is that it is a perishable product. How do you view this? Lots of food companies are selling perishable products.
Some audience questions answered by Sramana: • What are the best examples of companies that have succeeded using the “Freemium” business model? • What businesses lend themselves best to a freemium pricing model? • How do founders cope with anxiety and fear? • What are some self-study resources for learning to build a startup? •
1Mby1M Founder Sramana Mitra wants entrepreneurs to not waste their time and money. The waste stems from a widespread misunderstanding of how investors think. Over 99% of founders chase funding before they are fundable. Here, Sramana teaches how to build with customer money (otherwise known as revenue) until a startup reaches that fundable stage.
Sramana Mitra: Switching gears a bit, tell us a bit of a few companies you’ve invested in. Maybe start with the two that are turning into unicorns. Tell us where you encountered them and how you encountered them. What state were they in? What did you see in those companies that told you that this
Sramana Mitra: You come from the traditional retail background. How does e-commerce play into this? What are the trends? How are you playing into those trends? Elly Truesdell: We try to stay very aware of food being such a traditional system. There is an operational piece that’s still somewhat old school and traditional. There is
Some audience questions answered by Sramana: • How can a small business survive in the Corona virus shut down? • How can I get feedback from you on my venture? Rendezvous Online with Sramana Mitra 4.14.20