Storytelling has the power to change the world.

I've realised this time & again in the last 9 years of helping startups scale.

🧵 Framework to become a masterful storyteller: "Stories are a communal currency of humanity."

Through stories, you can use the power of persuasion to bring teams, investors & customers over to your side.

For a startup, storytelling is essential to succeed.

https://twitter.com/RomeenSheth/status/1441199531211702274?s=20&t=HfcsX9fU_3wi3ZKmzCoQjw

Your mind does play games with you!

🧵 11 cognitive biases that are plaguing entrepreneurs: A cognitive bias is a systematic error in thinking when you process & interpret information. This affects the decisions & judgments you make.

As an entrepreneur, you make high-risk decisions while you multitask, and hence are more susceptible to cognitive biases than others.

India had 43 unicorns in 2021 alone!!
Total unicorns in India is now at 83.

The Indian startup ecosystem is on 🔥.
#NationalStartupDay #StartupIndia

🧵Here's why India is the best country for entrepreneurs right now: Why India?

1. India is the fastest growing economy in the world.

Acc to BCG, India is expected to be the 3rd largest consumer economy by 2025.

Indian middle class is >350Mn people & it drives consumer spending.

B2C unicorns (27) are ~double the number of B2B unicorns.

Do you know what makes Apple, Google, Amazon, Microsoft & Tesla the top 5 innovative companies?

They have extraordinary processes to select & develop the right ideas to implement!

🧵 Framework for selecting high-impact ideas: Cultivating ideas is a process.

You have to build a system to cultivate impactful ideas consistently.

This framework is the 2nd part of the 4-part "Idea Cultivation Framework".

Check part 1 on idea generation:

https://twitter.com/varunm30/status/1480927026253119495?s=20

“There is one thing stronger than all the armies of the world, and that is an idea whose time has come.”

🧵 Framework for generating high-impact ideas: Cultivating ideas is a process.

You have to build a system to cultivate impactful ideas consistently.

I will share a 4-part framework that you can use to cultivate ideas.

1. Idea generation
2. Idea selection
3. Idea validation
4. Idea implementation

Improve your "information diet" in 2022.

Do what 99% of people don't do - control what you consume & take care of your mental health.

🧵 22 high-signal profiles to follow on Twitter for entrepreneurs: 1/ Aadit Sheth - @aaditsh

Deconstructs how the top 1% play the game of business and life.

Aadit also teaches people to write & leverage Twitter for growth via Maker's Mark.

He's been a great support in recent times!

My favourite tweet:

https://twitter.com/aaditsh/status/1464626688252432391

We all thought Minimum Viable Products (MVPs) are a great way to get started, right?!

Apparently, not everyone agrees!!

Why?
🟢 MVPs are the best to prove potential ROI
🔴 MVPs lower the quality curve of the ecosystem

🧵 So, here is what should you do with your MVP: 1st line of thought:

🟢 MVPs are great because they help entrepreneurs launch without investing a lot of money and time before knowing if the product would ever sell.

They help understand the potential to make good on your investment (time, effort & money).

90% of startups fail.

Due to various reasons,
⮕ 10% fail in the 1st year!
⮕ 70% fail between 2nd & 5th year!

SPEED is that ONE thing in your control to help you succeed in spite of these odds.

🧵Here's how: The most imp job of a founder is knowing when to accelerate & by how much.

At early stages, while your product is being developed, & the business model is being fine-tuned, go slow & conserve cash.

Don't make unnecessary hires to sell an MVP or an unfinished product at scale.

1. Idea 💡 - uniqueness? any differentiators? can we create competitive moats around it?

I've organised StartupWeekends & such hackathons to help people validate their ideas & come up with a prototype or a biz plan.

⮕ You can build a business with any decent idea. 2. Business Model ⚙️ - clear path to generate revenue?

I've run programs where startups had no definite biz model but could still sell.

⮕ To succeed it's not necessary to have a biz model on day 1, you can build one as you go. You'll test & pivot/improve it anyway.

I've helped ~2000 entrepreneurs in their journeys.

There's 1 rare factor that makes the difference between success and failure.

🧵 Here's what you should implement: I'm passionate about helping startups scale.

Thankfully, I had great opportunities to work for organisations that ran programs for startups.

Notable:
• EU India Innocenter @EUI_Innocenter,
• T-Hub Foundation @THubHyd,
• Techstars Startup Weekend @startupweekend.