As the Indian startup ecosystem celebrates @zomato's IPO, here are the 5 lessons an early-stage founder can learn from it about entrepreneurial mindset, product & marketing.
Thread 🧵
Thread 🧵
1/ Don't obsess over unimportant things
Early on, founders treat every decision as being equally important.
- “What should be the color of this button?” becomes a team discussion.
- The font/ font size of the pitch deck is a serious team meeting
Early on, founders treat every decision as being equally important.
- “What should be the color of this button?” becomes a team discussion.
- The font/ font size of the pitch deck is a serious team meeting
1/ (contd.): Zomato’s story
Even naming the startup becomes a bottleneck!
Zomato started as:
- Foodlet.in
- Then changed to Foodiebay.com in 2008
- Finally changed to Zomato only in mid-2010
Focus on important things!
Even naming the startup becomes a bottleneck!
Zomato started as:
- Foodlet.in
- Then changed to Foodiebay.com in 2008
- Finally changed to Zomato only in mid-2010
Focus on important things!
2/ Look for problems that are around you
Often startup aspirants complain that they don't know what idea to work on.
Learn to start observing the problems around you and how you can solve them.
Often startup aspirants complain that they don't know what idea to work on.
Learn to start observing the problems around you and how you can solve them.
2/ (contd.): Zomato’s story:
While working as a Consultant at Bain & Co., Deepinder noticed that a number of his colleagues used to queue up at the pantry to look for menus to order food.
This gave him an idea to create an online directory of food menus.
While working as a Consultant at Bain & Co., Deepinder noticed that a number of his colleagues used to queue up at the pantry to look for menus to order food.
This gave him an idea to create an online directory of food menus.
3/ Don't outsource/ delegate the early grunt work
Many 1st time founders have a certain sense of entitlement stemming from their title as a "founder".
The title means NOTHING.
All early grunt work needs to be done by the founders - not outsourced or delegated.
Many 1st time founders have a certain sense of entitlement stemming from their title as a "founder".
The title means NOTHING.
All early grunt work needs to be done by the founders - not outsourced or delegated.
3/ (contd.): Zomato's story
Deepinder, his wife and sister had regular full-time jobs, so they pursued this entrepreneurial dream on the side.
They used to drive around the city, collect menus from restaurants, scan them and put them online on their website.
Deepinder, his wife and sister had regular full-time jobs, so they pursued this entrepreneurial dream on the side.
They used to drive around the city, collect menus from restaurants, scan them and put them online on their website.
4/ Keep it simple
Most get so obsessed with the idea (and then the product), that nothing below the "perfect" makes sense to them.
Perfect is the enemy of good and, frankly, success.
Keep your initial goals - product or growth-related - super simple.
Most get so obsessed with the idea (and then the product), that nothing below the "perfect" makes sense to them.
Perfect is the enemy of good and, frankly, success.
Keep your initial goals - product or growth-related - super simple.
4/ (contd.): Zomato's story
Zomato's initial website was not about deliveries, didn't have complex tech - just a bunch of scanned menus and a review section.
Seeing traction, they just added more quality information: contact details, pictures, directions, rating, and reviews.
Zomato's initial website was not about deliveries, didn't have complex tech - just a bunch of scanned menus and a review section.
Seeing traction, they just added more quality information: contact details, pictures, directions, rating, and reviews.
5/ Allow your idea to evolve
An idea is not absolute. It comes out in versions and evolves as your startup grows in existence.
Allow your idea to evolve. Talk to customers, observe your users and tweak your understanding of the market.
An idea is not absolute. It comes out in versions and evolves as your startup grows in existence.
Allow your idea to evolve. Talk to customers, observe your users and tweak your understanding of the market.
5/ (contd.) Zomato’s story
Clearly Zomato isn't the same company that started ~13 years ago.
From just being an online portal that gives information on restaurants to the biggest food delivery platform, it has been a long & crazy journey :)
Clearly Zomato isn't the same company that started ~13 years ago.
From just being an online portal that gives information on restaurants to the biggest food delivery platform, it has been a long & crazy journey :)
That's it for this thread!
Also, I regularly write on startups, so, if you would like more such threads, do consider retweeting the first tweet & following me :)
Also, I regularly write on startups, so, if you would like more such threads, do consider retweeting the first tweet & following me :)
https://twitter.com/KarthikS2206/status/1415295777614667785
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