Growth Is Only Thing In Startup That Stays: Ramakant Sharma, COO & Co-Founder, Livspace.com
During the third edition of BW Businessworld 40 under 40 a discussion on growth hacking and more.
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Growth is associated with start-ups, to an extent, it is the most important thing in start-ups lifecycle. The session titled "How to Growth Hack a Startup" consisted few founders of companies including Mr Ankit Prasad, Founder & CEO, Bobble AI; Ms. Malika Sadani, Founder & CEO, The Moms Co.; Mr Angad Bhatia, Founder & COO, Men's XP; Mr Ramakant Sharma & Co-Founder, Livspace.com; Mr Anurag Jain, Co-Founder & Executive Director, KredX. The session was moderated by Ms. Sreerupa Chowdhury, Business Head, BW Disrupt.
The discussion kick-started with key things a start-up should do to reach the kind of growth in a short span of time. To which Malika Sadani said “the first thing to do is to get started. If an idea is keeping you up at night, then you should start towards creating what you want to create.” “What value is the product adding to your consumer? If your product is not adding any value to your consumer then there is no point. Moreover one should surround themselves with smart people and good mentors” she added.
While discussing the importance of change and whether it has any impact on growth Anurag Jain said “Perseverance is very important. You have to keep growing, your business model might change, your product might undergo a lot of revisions.”
He shared an interesting anecdote that early in his start-up journey along with his other founders he had attended a VC meeting in Delhi for 45 minutes. During that time the 3 VC’s didn’t like their idea at all. Post that the co-founders didn’t speak to each other for a month. 15 days after that a guy from the US that they had reached out to earlier, sent them an mail and he was ready to sign the term sheet within 2 days. So, there will be a lot of stages where one would be at their highest or their lowest but the key is to keep going on.
On the secret of getting funding, Ramakant Sharma said, “Growth is the only thing in a startup that stays. Once you are sure of the product-market fit. Then ask the next question that can I do this for a million consumers. If you don’t know the solution for a million consumers then you probably shouldn’t do it.”
For a message to entrepreneurs, the one thing to focus on is consumers.