Startup journey in India
- Incorporate, get MCA notice
- Raise angel funding, get Angel tax notice
- Create products, get Legal Metrology notice
- Generate revenues, get GST notice
- Raise VC funds, get FEMA notice
- Sponsor cricket, get shutdown by regulator
- Die
"Wife Kamati Hai, Mai Udata Hu"
(My wife earns and I spend)
Ganesh Balakrishnan (
@ganeshb78
) said this with a shy giggle on
@sharktankindia
. I realised how living off your wife's salary is looked down upon in our Indian society🧵
(1/4)
I had almost decided to drop out of my IIT Entrance Exam.
Until my father stepped in to (literally) change my life.
A month before my IIT-JEE (IIT Joint Entrance Exam), I had a bout of chickenpox.
Therefore, I could not prepare adequately for the last and crucial phase in the
Classic toxicity from a guy who has zero respect for founders too. Demands samples from them like he is entitled to it, and then ghosts them. I see where the entitlement comes from. Would you raise from such an investor?
2017 - My parents will never accept you. You will be a failure in your startup.
2018 - She broke up with me after 7 years.
2023 - I run a 40 million dollar fund now, having invested in over 80+ Startups. Also, her parents follow me on Instagram.
I was on the sets of
@SharkTankIndia
again recently, shooting for the "Beyond the Tank" segment of the show that aired yesterday.
It was bittersweet, recalling the show last year and the emotions on display, and what has happened since the episode aired. What my family went
Thanks
@vineetasng
for seeing a bit of your journey in my story. I'm now realising that I'm not alone - Every entrepreneur goes through the walk of fire where they stand to lose everything. It's a story worth telling.
PS: I didn't realise there were 14 cameras! Psych! 😅
I don’t have words to describe the courage, clarity and honesty of the entrepreneur who under the glare of 14 cameras is able to make the choice to be a better provider for his family rather than continuing to go after his dream!
The biggest upside of living an honest life is that no one owns you.
No lies, no remembering of cooked facts, no fear of being caught, no need for a mental note.
The downside is if you are honest, not everyone likes you.
If you can accept that, an honest life is worth living.
Thanks for bringing this up, and for your support
@kaushikmkj
! This is something the startup ecosystem badly needs to talk about as a focus topic. We can't be driven only by the unicorn and funding PR hype.
We hear about the underdog disruptor narrative of starting up but there's also a side that we don't talk about - because that's not what we want our idea of entrepreneurship to be.
Which is why watch the
@flatheads_in
pitch tonight on
#SharkTankIndiaS2
- nothing but respect 🙏
Someone cold called me at 10 pm yesterday. When I asked why they are calling so late, the response was - I thought you would be watching the cricket match anyways.
We take unbelievable liberties with people's personal space and privacy in India. This has to stop.
1) My footwear startup died after 3 COVID waves that broke our back.
2) Got on Shark tank as a last ditch effort and couldn't make it there either.
3) The episode aired and went viral, giving another ray of hope to resurrect the brand.
Work in progress 😎👟
Things I did after the Flatheads journey last year, that I would have never done otherwise:
1. Sought therapy
There is an ongoing line on social media, which says “Men would do anything other than seek therapy".
I broke that rule for myself. And rediscovered myself in ways I
"A lot of the stories of people's entrepreneurial struggles, which were bottled up within people's minds are actually coming out."
Thanks
@moneycontrolcom
for this interview! I hope my story inspires more entrepreneurs to keep going and not give up!
Unpopular opinion:
99% of founders who appear to be extroverts are introverts networking to understand business and customers more, before they go back to work to recharge themselves again!
I am more than excited about my days in the office these days.
It’s a feeling every founder lives for.
We are getting ready for our first launch, and I exactly match the endorphin rush of a studious kid getting their new books in their new year of school.
Our website of Aurm
Since I have moved to wearing Kurtas to office, the post work-day fatigue has halved. So much of energy is spent on just carrying formal clothes. Never going back.
“To be honest, I wasn’t humble earlier, Entrepreneurship and failures teach a lot.”
Get ready to hear the story of Ganesh Balakrishnan, Founder,
@flatheads_in
& about everything that has changed for him after Shark Tank 👀
Full Ep will be out soon🤩
#downbutnotout
@ganeshb78
One of the most useful gifts I received from Mom when I left home was a copy of the English translation of Samaithu Paar by Meenakshi Ammal. Got me interested in simple daily cooking and then graduated me to more complex dishes. Masala Labs by
@krishashok
is in a similar zone.
I have followed ONE strategy in almost 20 years of my work life:
Approach the world with trust.
There are so many people who would surprise you if you’d just trust them.
I try to be the person who believes in “Mistrust is an exception, not the rule.”
If you are dealing with
saying No is difficult.
But when you realize saying Yes would close all doors, would not lead to any good and bring you back to square one, saying No becomes easy.
During my Shark Tank India pitch, Flatheads was offered the amount I had asked for. BUT, with significantly higher
@chandracm
Nothing wrong with that. Ghosting them after receiving it and using it is not done. You owe them some feedback at least, both on the product and the pitch.
13 things startup founders tell themselves:
1. I am not in it to be rich.
I am in it for the itch. To solve a problem I passionately care for.
2. Failure is not intimidating. The regret of not trying is.
3. My goal is to get to a place of product market fit.
4. Once I have
An LP asked me why in 2004 I started investing in Indian consumer brands. I showed him this graph. 2004 to 2022 was great but the next decade is going to be even better as India will be the 3rd largest economy by 2027 with GDP more than doubling from the current $3.4tn to $8.5tn.
If someone quit their job once in less than a year, their job wasn't trustworthy.
If someone quits their jobs thrice in less than a year, the person isn’t trustworthy.
Hey
@Uber_India
@UberINSupport
, can anyone resolve my issue? Driver has overcharged for a trip on Jan 19, and the app isn't allowing me to book any further trips. I've written complaints on the app at least 6 times but no response or resolution. Help!
@IndiaConsumers
When I was in IIT, all I wanted to do for the rest of my career was become a refrigeration engineer.
I even became one, for the next 5 years!
For the next 7 years, I shifted into a management career path.
And then, if this change was not enough, I ventured into
Had an absolute blast talking to
@Anshuman_306
and the Shark Tales team about the story behind the Shark Tank pitch. Check it out:
PS: there's a nugget at the end about my daughter's entrepreneurial venture too! Do watch ☺️
In the last couple of years, we have witnessed 3-4 deaths in our grandparents’ generation.
It is not easy for my 11 year old daughter to witness this.
However, this is the reality of life.
Thus, one evening I spoke to her about death.
As a parent, I think it is important to be
My life changed when I forayed into entrepreneurship from a well-paying corporate job.
Not the way life usually changes…
When I was an employee in a corporate, by the nature of work, we usually used to book tickets at the last minute. That too, business class or premium
“Down but not out” became the national war cry for entrepreneurs in 2023.
Super excited to share the journey of Ganesh Balakrishnan, Founder,
@flatheads_in
before and after the Shark Tank Ep!
Stay Tuned!
"Down but not out"
Spent an entire evening with
@ganeshb78
and discussed a lot of things.. what a man!
My team is working overtime so that we can bring the video live ASAP. Stay tuned...
Picture this. You stay in Bellandur. You drive to Manpho in 2 hrs traffic and struggle for 1 hr to park. Then find out that the Trevor Noah show is cancelled. Start driving back. Get stuck for 5 hours in the epic gridlock. What's going on in your head?
#bangaloretraffic
First time founders read business books to stay motivated.
Second time founders read fiction to stay entertained.
Third time founders read Sci-Fi to hallucinate themselves with a different reality!
Had a no holds barred conversation with Roshan again, after a gap of 2+ years! Listen in and contrast this to the earlier
@OperatorStartup
episode, and tell me if i have changed!
My best piece of startup advice:
Building sustainable economics in your company should be built in your DNA from Day 1.
Waiting around for someone to believe in you before your business numbers believe in you is probably the biggest waste of your precious time.
5 “hacks” for building a startup:
1. Build a financial nest of 12-24 months before taking a plunge.
2. Get a co-founder with shared values and complementary skills.
3. Build something you are passionate about.
4. Don't be a part of toxic environments.
5. Listen to customer
You gotta know how to optimize the batter usage...
Day 1 - idlis
Day 2 - dosas
Day 3 - dosas
Day 4 - uttappams
Day 5 - paniyarams
That's how South Indian homes work.
So, essentially the VC funded Indian tech startup playbook is:
1) Build a tech product
2) Make it (almost) free and pump $-fueled hypergrowth to grab the market
3) Talk about PMF, how the customers love the product
4) Make them mercenaries by doling out freebies for engagement,
Coming from a corporate job of 15 years to the entrepreneurial journey of 10 years now, I can surely attest to it. There is a breaking point where an entrepreneur realises that it is about survival, and plans his life accordingly. A salaried employee will never understand this.
I'd rather invest in a founder of a failed startup who is trying again than a founder who worked at Google for 5 years, ate the free snacks, and was never faced with a terribly hard day.
So, this happened on
@LinkedIn
. Venkatraman V discovered
@flatheads_in
and featured us as an innovative Indian brand.
We
#Entrepreneurs
live for such instances when people organically talk about our startup, helping us reach new audiences.
Thank you!
Honest confession:
Sometimes I get paralysed with the never-ending pending tasks. Too much to do. Too little time.
The fact that I am not a To-Do lists kinda person sometimes makes it even worse.
Any tips on how you get things done?
#todolists
#tasks
What an energizing conversation with the
@saplabsindia
folks! Interacting with a highly involved audience and sharing my journey was refreshing.
Couldn't have better summarized the key takeaways better, thank you!
#EmployeeExperience
#SAPLabs
#motivation
We had an insightful day!
@ganeshb78
, Co-Founder of Flatheads Shoes and
#SharkTank
India Season 2 participant, shared his entrepreneurial journey and invaluable learnings from each phase, summing up that positive outcomes come with self-belief and taking action.
ESOP taxation in India is not employee friendly.
It has been a long-standing request of the Indian start up ecosystem to correct it.
This is what happens currently, why is it wrong, and what needs to change
A thread
Not letting go of non-performers always costs the company more than it helps the company.
Spend a few more months allowing a non-performer to stay = you are discounting the efforts of people who do their best.
Letting go of a non-performer after all efforts = you respect the
@tibo_maker
I'm the co-founder of
@flatheads_in
shoes, a casual sneaker brand made in India for the world.
We exist because we believe folks living in tropical climates need better shoes designed for the hot weather and dust.
5 unforgettable rules for a life well lived:
1. Your focus needs to be on the things you can control and not on things you have no control over. It makes you more powerful and truly in control.
2. You were not meant to spend the finest hours of your life benchmarking yourself
I went to a job interview at IKEA today. I walked in and they asked me to take a seat. I took it.
They called the security guards. I don't think they like me very much.
#aiyo
#terriblepuns
Founders exiting their startups should consider taking time off before joining the grind again.
More energy, more time to give your body a rest, and better mind space with room for a wider perspective and newer ideas.
If you had fun being a founder, you'll certainly have more
How FedEx can deliver to the wrong address in the USA blows my mind. How can such a well-mapped country have wrong deliveries?
@delhivery
routinely delivers packages to "mandir ke paas dusra right leke call karna" addresses in India.
bought an old film camera on ebay from seller in Japan. Fedex delivered it to the wrong person/wrong address (someone named J Sanchez signed for it). the whole thing makes me sad. the japanese seller loved the camera, i know id have been a good owner. now its gone forever
As an entrepreneur, there are some days where everything is going to shit. Today is one of those days. Just got to persevere and push through, hoping that things will get better soon. 🤞🏼
#startuplife
#entrepreneurship
#dayinthelife
Ever wondered why we use UK, EU or US shoe sizes, but we don't have India sizes? India has been a commodity shoes market to launch cheaper versions of global brand product lines until now.
A few D2C brands are attempting to be
#unalike
the incumbents. Read more about it here!
We've been featured by
@Openthemag
in their story on D2C footwear startups in India!
Short thread on why
#D2C
brands are changing the game in the Indian footwear industry
This is indeed scary. When I started out as an entrepreneur, the first thing I did was make sure I had 1 year runway in the bank. Reading
@monikahalan
regularly helped a lot in getting serious about personal finances!
One thing I’ve learnt from the Covid catastrophe is that the so many batch mates from engineering (and maybe b school) have no savings. So many people with like 20 years of really affluent work experience are two month’s salary away from crowd funding to feed their families.
No one picks anyone up from Bangalore airport though.
Pro tip once you land in Bangalore: Try the Nandi Upachar located beyond the bus stop at Terminal 1. Very affordable compared to the rest of the food joints. A lot of the airport staff eats there.