I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I am about art and culture. In this series, I will typically publish a piece of art – one of my paintings – and I request you to spend a minute or two deeply meditating on it. I urge you to watch your feelings, thoughts, reactions to the piece, and write what comes to you, what thoughts it triggers, in the dialog area. Let us see what stimulation this interaction yields. For today – White Blossoms
White Blossoms | Sramana Mitra, 2020 | Watercolor | 9 x 12, On Paper
Entrepreneurs are invited to the 563rd FREE online 1Mby1M Mentoring Roundtable on Thursday, February 10, 2022, at 8 a.m. PST/11 a.m. EST/5 p.m. CET/9:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
You can learn more here and register to pitch or attend here. Register and you will receive the recording by email, even if you are unable to attend. Please share with any entrepreneurs in your circle who may be interested. All are welcome!
During this week’s roundtable, we had as our guest Naganand Doraswamy, Managing Partner and Founder at Ideaspring Capital. Naganand added to our thesis on great investment opportunities within the sub $100 million exit space.
Tonic Audio
As for our entrepreneur pitch, we had Eithan Clift from Reno, Nevada, pitching Tonic Audio, a platform for musicians to create songs.
You can listen to the recording of this roundtable here:
Sramana Mitra: You said many times that the ecosystem is still immature. Can you underscore the points where you see the Indian ecosystem needing maturity?
Dr. Aniruddha Malpani: Sometimes, it’s the unrealistic expectation on the part of entrepreneurs partly because they don’t understand the grind that startups need to go through. A lot of the diet they’re fed on is the Silicon Valley success stories or the Indian success stories. They don’t understand the emotional angst they need to go through.
>>>Google (Nasdaq: GOOG) reported its fourth-quarter results earlier this week that continued to outpace market expectations. While it saw significant growth across most of its segments, its Cloud growth was impressive. The company is investing in AI capabilities and released several new products during the quarter.
>>>Sramana Mitra: How much did Avon pay you?
Jonny Grubin: They paid me £1,000 which seemed like a huge amount of money at that time. It was about validating it all. We were still very much bootstrapped. I didn’t want to be greedy. I need to charge them something. A thousand pounds seemed like a fair price and it seemed like I could map out how to get to breakeven in a short period of time.
Sramana Mitra: What happened after that? How did you go about building on that concept?
>>>Sramana Mitra: It’s wonderful to exchange notes. There are a couple of things you’ve said that I want to underscore. One is the importance of failure. The Indian ecosystem didn’t accept failures for a long time. It’s a cultural change where it’s okay to fail. You’re not penalized.
A very long time ago when I was a young entrepreneur, I talked to a lot of investors all the time. They would say, “We love entrepreneurs who have failed once and are doing it again.” This is deeply underappreciated.
Somebody who has tried it once and failed has already done a lot of learning on somebody else’s dime. It’s a prized commodity for investors.
>>>Somebody who has tried it once and failed has already done a lot of learning on somebody else’s dime. It’s a prized commodity for investors.
Sramana Mitra
Sramana Mitra: How much money did your friend put in?
Jonny Grubin: He put in £45,000, which for me felt like a huge amount of money.
Sramana Mitra: What exactly where you able to prove in that MVP? I’m so used to constantly working with people’s pitches. As you were speaking, one thing that struck me is you almost have two ideas in there. One is this idea that for people in urban areas where theft is higher and there’s no safe space to leave something. That is a real delivery problem.
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