Fourth Session – Financial Model and Product Day

Day 4 : 18th October 2014

Session: Financial Model and Product Day (Design Thinking, Product Design and Product Development)

Session CEO: Eshwar
Co-CEO: Harsha Unnam & Jayasri

A world within a world, a world that runs the world – a world of Finance. This is not what you run in a startup but this is what runs your startup. So, how do you go about modeling your finances in the most judicious way while you strike the balance of designing and developing the right product?
This was, in brief  – the agenda of the day. Eshwar, Harsha and Jayasri were early and had already started to set the stage.

The aromatic coffee in Purpletalk office is like no other. The tea there is the best. Ask for Green Tea, and along with the ambience of apple PCs all around, it has the potential to wake up your inner soul if need be.

Another extraordinary squash-buckling, action packed, insightful day awaited us SLPians. And everyone brought with them their laptops to number their financial models as per the CEOs instructions and most importantly all of us had a pack of smiles and aura of energy flaunting on our faces.

The session started, again, right on time!

What is Financial modelling? Its a process of building a structure that will aid you in making business decisions regarding your startup.

The goal was to forecast, measure, monitor, track and organize all the inflow versus the outflow. pic 8

This is how Eshwar set the stage.

As the sessions went on post lunch came Vijay Bhaskar (COO, Divami software) and Srinivas Chinta (CDO Divami Software) along with our own SLP 2015 batchmate Karthi Subbaraman (CDO, OGHMA) hit the sweet spot in how one can master their UX and UI of their product design. Let it be anything, from brochures to landing pages, to App, content etc., who you are and what you do is conceived by what you show to your customers in this world of internet. How can you make sure your customer gets the best image of your startup was this session all about.

What is UX strategy?
Ponder on this a bit – Customer has infinite options on what he wants to buy. Competition is anywhere and everywhere. Resources are limited while customers and stake holders are demanding. Huge opportunity equates huge risks at the same time.  Why many undermine UX part of the product and only focus on features?

This action packed session was about this. Every one of us did not blink an eye, we were focused like a parasite into what Srinivas from Devami had to share. Being different is not as same as being smart. How can you be both? Your Value is P+S+E where P is Product, S is solution and E is Experience

Srini along with Vijay helped us with a DIY Value Delivery model where one can create a great user experience. Create P+S+E, Communicate and Deliver.

Design is thus a way of thinking that is made visible.

Thus the day, dawned on us and we reclined to our introspecting minds to see design as an objective where science, research and art break even.

Third Session – Customer and Market

Day 3: 4th October

Session: Customer Development, Market Research, Competitive Analysis, Pricing, Adoption

Session CEO: Kiran
Co-CEO: Pavan Thota and Ana Gonzalez

“Make a customer, not a Sale”  and that said how do you make that customer?

Starting up is not easy, its not impossible but, starting up is a continuous process, perhaps that will never end. There can be a new startup within a startup, it could be a new marketing team or a new customer focus team or even a new CEO. Once you startup, you are always starting up something new every now and then.
As an Entrepreneur, an idea and passion, or the right mindset, money, skill and attitude are not enough to starting up. It is not enough in a competitive world, in a growing market and to sustain your own growth.

How do you startup, how can one identify the target customer segment, analyze competition, Collaborate while you use the external factors to your advantage? How will you build your product with what features and why now? – these are some very tough questions which linger in every one who has or wants to startup.

Coming to our rescue -  was SLP with an important session on Day 3.

Kiran, Pavan and Ana with the help of SLP Alumnis Subhash and Niranjan had laid out an action packed agenda. It included a work-shop, eye-opening presentations and a very interesting session of Guest speakers. Sitakanta Ray who is the Co-founder of mysmartprice.com and Raj Janagam Co-founder UnLtd Hyderabad were chosen to fill our minds with spirited insights.

Kiran first set the agenda

PIc 1

 

Ana took over the second session.

pic 2

Teams were divided into groups. And the groups had a task assigned from which emerged the clarity. It is this clarity afterall that decides the success and failure of everything that anyone wants to do anywhere in the world

pic 5pic 4pic 3

Some key takeaways from the session apart from all that we learnt, realized and grasped out of those brilliant and priceless sessions, here are a few top of mind bits

  • Know where you tread on. Acquaint yourselves with all your strengths and weaknesses.
  • If you do a good job of identifying customer needs, price it right, market and promote them effectively – that product becomes valuable and thus will sell it right.
  • Simple rule – always give people more than what they expect to get
  • A customer need not be the one who uses your end product. Everyone in your organization is a key stake holder.

The CEOs and C0CEOs monitored the work shops closely and added their bit of advise. The sessions were combined with presentation, roleplay, workshop, video and expert talk. And at the end of the day it was as though a mirror was shown to all the startups in Hyd SLP. While all were intrigued, Kiran had this tired look:

pic 6

While all of us had a blast at the end of another perfect day. We realized we all have grown as a team, as a family, as a SLP family. Here is us, smiling and saying to all the readers that we had a wonderful session to which we are extremely grateful.

pic 7

Photo Courtesy – Subhash & Ana

 

SLP Hyderabad Chapter Infographics

Hyderabad SLP Chapter is diverse in every attribute. We have put together a infographic that briefly details the flavors and colors of every entrepreneur and how they bring in a lot of value into this ecosystem

 

Distribution by Industry

Distribution by Industry

 

We went on to classify them into Product companies, Service companies and others

infographic2

This batch has many Engineers, most of them are from IITs. infographic4

infographic5

There is women power too as the carefully chosen team consists of women who are into travel, photography, fashion, social entrepreneurship and more

infographic6

Last but not the least this batch has a total of 2 Patent owners, and some of them have won the following awards

Gold Medal” through The National Integrity Cultural Academy and State Level Human Rights Vigilance organization for outstanding contribution to the
Community for the Year 2009. It was rated one of the top NGOs out of 1600+ NGOs in Tamil Nadu.

Microsoft Bizspark 2013 top 10 runner up Award

Microsoft Code for Honor 2014 finalist Award

Top 8% startups by NASSCOM

e-SAP – awarded best agriculture initiative by ASSOCHAM (http://www.assocham.org/events/showevent.php?id=964)

ITsAP Award 2013 – “Best Software Product” – Student Innovation

With great diversity comes a great family. Great families create great value. May all the entrepreneurs realize their dreams and make this world a better place.