Where ideas materialise! Chapter 13 – Angels fly past me?
I had no one to help me out with my business plan, financial projections or presentations. I just had my dear little internet. I tried my best and put together whatever I could. Eventually when it took shape, it was quite impressive with a 15 page business plan, a 26 slide presentation, a 4 sheet financial projection spreadsheet. I opened all three documents in front of me, admired it for a long time. I could not believe I had made all these documents. I knew they were not professional, they were not what a seasoned company would have prepared. They would have a 100 page business plan, 40 sheet financial projection and 70 slide presentation. But mine basically outlined everything that the investor had to know about the project and us.
Started mailing these documents to investors one by one. Contacted nearly 15 of them by email, out of which I realize that 9 of them do not even exist anymore. They have either left the previous company or gone underground. I then decided to contact NEN. They were a huge network of entrepreneurs, investors and mentors. I was very apprehensive. After exchanging a few e-mails, they put me through a member of the IAN.
IAN had asked for more details about the project. My heart skipped a beat. Could this be it? Is something actually happening? I could not eat, sleep or think straight. I used to sleep with my inbox signed in and my laptop right next to my bed. Then one morning, I wake up to see a mail in my inbox.
Note: The names in the mail have been changed.
Hi Neha,
Would like to introduce to you Mithun, the founder of this venture. Mithun, a pleasure to introduce you to Neha from IAN. She wants to schedule a call with you. Could you kindly take this ahead? All the best.
Thanks and regards,
Meera
My heart was in my mouth. A telecon? Why not face to face? I was always confident in face to face meetings and presentations than telecons. In telecons, they judge you by the voice and in face to face it is all about body language. The team resided in Delhi and thus the telecon. Replied to the mail, fixed a time and waited for it. Informed only my close family and a couple of friends who have been a good support. Prayers and wishes were flowing, but I was literally shitting bricks. From prior experience I had learned, until the cash falls into the account, never bank on anything or anyone.
I thought I would sleep early and have an early morning, but little did I know, my body had something else planned. I could not sleep a wink until 7 am and the telecon was for 12 pm. Wonderful.
What is the worst that could happen? The worst could be that I miss the god damn telecon by oversleeping……
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I had done my market research and had an answer to this question which luckily he bought. That is when I realized how imperative this question was to a start-up before it went all out for its venture. And for a fact, I hadn’t thought of this. I was just lucky that it worked out and people started using it. But what if I was wrong and people hadn’t used my product? Then this question would have been that one question I could call as the crux of my business case analysis prior to development.
Facts about India
Around 80 celebrities are already using the service and more are joining each week. They have also roped in content owners like BBC, Bloomberg, UTV, and Balaji Telefilms, among others.
Say you register with them and you start following celebrities for a subscription charge per month. They start posting voice messages and you will receive an alert. It is free to send messages, but the user will be charged to listen to messages. Would you call that number and actually listen to every little thing that person says? Yes, there will be an initial craze because you will be able to hear your favorite celebrity’s voice, but then will you listen to it even 1 year down the line or even 6 months? What if you call the number and waste money and listen to a message that might be a reply to someone else’s question. I would not. I would get tired of voice messages and revert to Twitter, where it is free, much easier to follow and actually view the tweets than have to call a number to listen to a post of every person.
But it is crazy the way things become a craze overnight. Whether Bubbly becomes a craze or not is something we have to wait and see.
Angel investment is growing in India, but at snails pace. On the other hand VC’s from Silicon Valley are quite active in the Indian market. What start-ups need are Angel Investors before they can knock on doors of VCs. Why is that? Here are a few points that explain why;



