Power Talk │ February 2021│Ready to Startup

From morning coffee to evening entertainment,
everything was happening on this small screen, and
hence the screen sizes kept expanding. Ever
wondered why Android phones have so large
screens? This might be the answer. Surprisingly
laptops are also making their screens look like a
smartphone. Consumption of content has
led to many new business opportunities .
Earlier creation of content was considered cool,
however today getting traction is the key. We have
seen apps and new business models emerge, but one
of the biggest concerns for any and every company
including a unicorn is traction and engagement. Some
manage to do it early, while others ride on the wave.
Have you been on “ClubHouse”? That's the perfect
example of an early venture with amazing traction.
Today every unicorn is trying to figure out their
traction and sustainability model as pandemic has
taught us one thing very clearing “NOTHING IS
PERMANENT ''.
While we have seen some of the new industries take
up the lead, majorly EdTech, FinTech, HealthTech and
of course Entertainment. If I am getting upskilled, I
have the potential to make money more efficiently,
once I make the money, I need to manage it well and
while doing all of it I need to stay sane.
Often I am questioned about future trends and the
new trend setters. While shared economies was the
flavour of the second decade, I think third decade
would be the age of digitisation. With remote
workforce and globalisation, digitisation compliments
this new age economy. Block Chain, AI, ML are the
foundational pillars of this new age economy. Let me
explain in a simplistic manner. Earlier you would walk
into a Chaayos store, it would ask your phone number
and then take your order. I am sure most of you
experienced that. Over the time, they built a new app
in partnership with True Caller, which detects your
face and checks you in automatically. Fast forward to
third quarter of 2020, Chaayos has its own app, you
simply login to place and order whether for a dine in
or take away. It lets you order, accumulate all points
and then quickly make the payment through various
payment options which are saved on your account ,
Power Talk l Ready to StartUp
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based on the cards which you would have used at any
of the Chaayos store in the past. That’s data storage
with Machine Learning. I am sure in the future, I wont
have to repeat my orders on Chaayos as it would also
know what do I usually order. Also, all tea’s are
automatically made using Chaayos’ proprietary
technology which automatically prepares the tea at a
preset temperature for a preset time. No wonder an
IITian is leading this company
If you are thinking of starting something, it is time for
you to think about your daily routine and all the
problems which you face throughout the day. If you
can pin down possible solutions, it would give you a
definite starting point. Next step is to validate your
solution. That’s when you have got to start talking.
Build an outreach, connect with as many people as
possible, share your ideas and take feedback.
Eventually ask these people whether they would like
to pay for this solution, and if so then how much?
Bingo you have
your business model ready. That’s the time for you to
commercially launch and move towards the next
level of your entrepreneurial journey.
Today every VC backed company is also thinking
about its profitability as capital is precious and
everyone wants to bet on a sustainable venture.
The companies until 2020 may not be there in the
next 3 years, but the ones adapting to new
technologies and trends with a solid business model
will be taking the lead. But remember it all starts
with a problem, and your more simplistic solution
can be the next unicorn