The Startup Velocity Question: What Hinders Acceleration in VC Funded Companies?

I have been running 1Mby1M since 2010. I find myself saying to entrepreneurs ad nauseam that VCs want to invest in startups that can go from zero to $100 million in revenue in 5 to 7 years.

Startups that do not have what it takes to achieve velocity should not be venture funded.

Experienced VCs, over time, have developed heuristics to gauge what constitutes a high growth venture investment thesis. 

1Mby1M Udemy Courses with Sramana Mitra: Bootstrapping

Over the course of two years, we have released over 70 courses on Udemy with the aim to democratize entrepreneurship education at scale globally. This series of posts aims to help you find the one you need easily and provide you with discount coupons.

From The Seedy Underworld of Drugs and Prostitution To Entrepreneurial Success: David Sharpe’s Journey with Empower Network (Part 1)

From drugs, sex, prostitution, David Sharpe has seen it all. Hopelessly lost since his teens, a father at 15, jailed in his twenties, David has found his way back to a healthy life through entrepreneurship. Enjoy reading one of the most unusual stories we’ve done in the eighth year of Entrepreneur Journeys.

Sramana Mitra: Dave, tell us where you’re from. Where were you born and raised – what kind of circumstances?

David Sharpe: My name is Dave Sharpe. I was born in Clearwater, Florida which is right outside of Tampa Bay in 1983. I turned 30 last November 17.

Sramana Mitra: Tell me a bit more about the circumstances. Where did you do school? What did you study? What kind of mental set are you coming from as an entrepreneur? What’s your family background?

David Sharpe: The fascinating thing is I don’t come from an entrepreneurial family. My mom was very involved in a lot of what I did, extracurricular wise. I was a sports player. I was an athlete. By the age of five, I was on a baseball field throwing the baseball around. My parents divorced when I was 2-years-old, but my dad always showed up for my baseball games. Then I had a stepfather, still do. My mom and my stepfather are still married.

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How An Entrepreneur Couple Bootstrapped to $5M: RuffleButts CEO Amber Schaub and COO Mark Schaub (Part 1)

RuffleButts is a perfect story on how to bootstrap with a paycheck. Amber Schaub started RuffleButts, a children’s apparel company, in March of 2007, backed by her husband’s full-time job. He later joined in 2010 as the COO after the company had gained traction.

Sramana: Let’s start at the very beginning of each of your stories. I imagine you co-founded the company?

Amber Schaub: I grew up in Louisville, Kentucky. I had the entrepreneurial spirit from a very young age. I used to convince my cousins to help me start lemonade stands, baby sitting clubs, and we even tried to start a grocery delivery business in middle school. My dad is an entrepreneur. My parents were divorced so I watched what my mother had to do as a single mother. She worked a 9 to 5 job for a utility company and had to raise a child on that income. We did not live a lavish lifestyle, but I always had what I needed. >>>

Bootstrapping with Services in India: Srishtisoft CEO Ajay Sharma (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Bootstrapping with service, then building two products, then splitting up the company into two, and finally, scaling a sizable product company – not the kind of stories we hear often from Indian entrepreneurs. This story is a rare window into the journey of a group of entrepreneurs who have achieved amazing feats.

Sramana: Let’s start at the beginning of your story. Where are you from and what kind of family do you come from?

Ajay Sharma: I was brought up in a village in Bihar. My father was a college professor in a rural college. It was actually rather common at that time for professors to pass through rural areas at some point of their career to help bolster those smaller, rural colleges. I attended rural schools until the tenth class. I then moved to another small, sleepy agricultural town for the eleventh and twelfth classes. >>>

Building an Open Source Software Company Around Cassandra, Seed-Funded by RackSpace: Jonathan Ellis and Matt Pfeil, Founders of DataStax (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

This is an interesting story of how an open source software company built around Cassandra was incubated by RackSpace and has grown to $5 million in revenue. Founded by engineers Jonathan Ellis and Matt Pfeil, the interview traces not only the successes of their journey but also the mistakes they made in structuring their funding rounds.

Sramana Mitra: Jonathan and Matt, let’s start with both of your backgrounds. Where you were born? Where did you grow up? How did you get together?

Jonathan Ellis: I grew up in New Jersey. I met Matt after I moved to Texas to work for Rackspace. Rackspace hired me to build a scalable database for their internal infrastructure as they started to compete more with companies like Amazon, Google, and the Cloud. In late 2008, I started working on Cassandra. I met Matt Pfeil shortly afterwards as he led the group that was going to be deploying Cassandra internally at Rackspace.

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Building a Retail Business in India: Manish Sharma, CEO of Printo (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Manish Sharma is the co-founder and CEO of Printo, a Bangalore, India-based company specializing in high quality printing. Manish is a serial entrepreneur who began his career in 1995 as an early member of the startup team at Rediff.com. He went on to be the co-founder of DBS Internet Services, co-founder at New Economy Venture Group, and Global Director of Solutions for Pipal Software. He co-founded Printo in April of 2005. He is a graduate of the University of Oxford and Bombay University.

Sramana: Manish, let’s start with the beginning of your story. Where are you from? What is the backdrop to your entrepreneurial career?

Manish Sharma: I am from Bombay. I went to school there and was raised in a typical middle class family. My father is an engineer. I am a first generation entrepreneur. My father does not have business in his lineage. His father and grandfather were both engineers. >>>

Bootstrapping an App to $10 Million in Revenue: Christophe Bach, CEO of TextMe (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

This is a wonderful story of a self-financed company that has built itself up to $10 million in profitable revenue. Led by Christophe Bach, an experienced and successful serial entrepreneur, it’s a text-book case study of effective bootstrapping.

Sramana: Christophe, to start, tell me your back story. Where are you from, where were you born?

Christophe: I am the Co-Founder and CEO of TextMe and prior to TextMe, I co-founded three companies in Europe. I was born and raised in Paris, France. I have been living between Paris and San Francisco for the last 15 years.

Sramana: Did you do college, university in Paris as well?

Christophe: Yes, I did.

Sramana: What is your background? Is it a technical background or business background?

Christophe: I went to an engineering school. They now call it Polytechnique.

Sramana: What did you do after polytechnique?

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Bootstrapped Journey of a Child Entrepreneur in India: Varun Shoor, CEO of Kayako (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

[Also check out my Entrepreneur Journeys book, Seed India – How To Navigate The Seed Capital Gap in India]

Varun Shoor is the founder and CEO of Kayako, a company offering advanced helpdesk management software. Varun steers the overall direction of the company and as customer experience fanatic and lead product architect, takes an active role in the design and development of Kayako. One of Varun’s greatest passions is design. Applying modern, consumer-like design to stuffy business helpdesk software was Varun’s brainchild, and with it he founded Kayako in 2001.

Sramana: Varun, let’s start with your personal story. Where are you from? What is the backstory to Kayako?

Varun Shoor: I was born in Jalandhar, a city in Punjab. I have had no formal education. I started Kayako when I was 17. My family background is industrial by nature. My father is into manufacturing, primary tools such as hammers.

Sramana: Does he work for himself?

Varun Shoor: He is also an entrepreneur. He grew his business into what it is today. He works for himself and he owns his factory. >>>

Solo Founder, Bootstrapping to $7 Million in India: Wingify CEO Paras Chopra (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

[Also check out my Entrepreneur Journeys book, Seed India – How To Navigate The Seed Capital Gap in India]

Paras Chopra is the founder and CEO of Wingify, a company that builds web analytics and optimization technology to include its flagship product Visual Website Optimizer. Prior to Wingify, he was an R&D engineer at Aspiring Minds. He has also founded Kroomsa which is a website to help Indian bands promote their music on the web. Prior to founding Kroomsa he was an Analyst at Grail Research. He has a BE in biotechnology from the Delhi College of Engineering.

Sramana: Paras, let’s start with the very beginning of your story. Where were you born and what are your family circumstances? What leads up to the Wingify story?

Paras Chopra: I was born in Punjab. I have been very lucky to have very forward-looking parents. I was introduced to computers very early on. I got access to a computer in my eighth standard year of school. My father had been playing with computers for a long time. He has an agriculture and biochemistry background, but he needed to use computers to conduct his work. He had a computer back when a 200Mhz computer was best in class! >>>

Scaling a SaaS Company in a Competitive Space: Gainsight CEO Nick Mehta (Part 1)

Nick Mehta is the CEO of Gainsight, a B2B company that offers customer success management for SaaS companies with a goal of reducing churn. Prior to Gainsight, Nick was the CEO of leading SaaS e-discovery provider LiveOffice through its acquisition by Symantec. Prior to that was a vice president at VERITAS Software and Symantec Corporation. He has been an entrepreneur-in-residence at Trinity Ventures and an executive-in-residence at Accel Partners. He is a graduate of Harvard, from which he has a bachelor’s in biochemistry and a master’s in computer science.

Sramana: Nick, let’s start this story by getting your personal story. Where do you come from? What is the genesis of your entrepreneurial career?

Nick Mehta: I was born in Massachusetts but spent most of my childhood in Pittsburgh, Pennsylvania. I went to school at Harvard and came out to California after college. I have been living in the Bay Area for around 15 years now. >>>

Bootstrapping with a Paycheck in India: Sangeeta Banerjee, CEO of ApartmentADDA (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

[This interview is featured in my Entrepreneur Journeys book, Bootstrapping With a Paycheck; Also check out my Entrepreneur Journeys book, Seed India – How To Navigate The Seed Capital Gap in India]

Sangeeta (San) Banerjee is the co-founder and CEO of ApartmentADDA.com, an Indian web application company. She holds a degree in electrical engineering from Guindy and earned her master’s from Louisiana State University. Prior to founding ApartmentADDA, she worked for Tata Consultancy Services from 1999 to 2003 and then went on to postgradate education. After graduating from Louisiana State University she worked for Capgemini in Chicago for a year before returning to India to work for SAP India.

Sramana Mitra: Sangeeta, let’s start at the beginning of your story. Where are you from, and what were the circumstances of your childhood?

San Banerjee: I am from Kolkata. I grew up in a very conservative environment. Where I was from, girls were not supposed to ride a bicycle. I went to school on the other end of the city, and I commuted to school by myself. I would ride a bicycle to a ferry, then once on the other side of the river I would take a bus to school. Many people felt that my parents were careless with their daughter’s safety, but my parents really wanted me to be self-sufficient. They wanted me to know how to take care of myself. My belief that I can do anything I want to stems from my parents. I used to face a lot of ridicule for riding a bicycle. They would tell me to stay off the road and tell me to keep my cycle on the playground. >>>