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HSX Event 2019 (Tarun Dua - E2E Network (1 - Total Addressable Market is…
HSX Event 2019
Tarun Dua - E2E Network
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Do research etc. to find the total addressable market. A reference number, amount, companies are needed.
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2 - After TAM - Product market fit is more important. Definition of Product market fit means minimum 6 paying customers. This is also needed while pitching to investors.
3 - Define a North Star metric. This should have a correlation with Revenue. Also known as one metric that matters (OMTM).
Almond House HYD
Co-Founder- Paneer - Luxury/ Premium Sweet shop. Introduced Gol gappa / mani puri worked well. Understood the customer well. As the shop is premium lot of aged people with kids come and mani puri attracts all.
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Major business comes from gifts which people/ corporations gives. Created another campaign like Responsible indulgence. This tickled the health issue like - do not drink and drive.
Also, sweets in all part of the country are not same. So handling larger amount of items on the menu is very hard.
Because of shelf life and quality concerns, he has not scaled the business to other cities/ countries.
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Company Not Sure
Business model evolved every 3 to 6 months. Not sure. However, did not wait and stop. At some point of time, there were 3 business models in progress in parallel.
Your idea should be good and you should be relentless. Believe in the space you are in. It is better to be in a good space/ vertical with lot of opportunities than less. Example - Students who try in IT make more money than same talent, experience, etc. than other verticals.
If there are no seniors in your company as a Founder, it is not a good sign. It is assumed that you can not sell to them, how you will sell to Customers.
Space the start up is in has to be good. In good space with good team, hustle, and support chances of survival exists.
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Thick Shake Factory
Yeshwant - Co Founder - Created a new category- thick shakes. Product Quality, Shelf life, and Brand value are most important.
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There are total of 130 shakes on the Menu. However actual revenue comes from only 7 shakes. The shakes are expensive as well.
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Appointy Bhopal - HR Company - - Success of process can only be gauged by how happy people are by following the process.