HOW TO SURVIVE FIRST THREE YEARS

Tapan Kumar das , CA , IIMACEO and Director – Itiffin Co-Founder Qua Nutrition

Challenges

Major factors for Failure

Success Factors – Macro level

Survival Approach – ITIFFIN and QUA

Q & A

INDEX

Presentation : 45 Minutes Interaction : 60 Minutes

Family Challenges – Working without Salary

Social Challenges – Pulls you down

Technological Challenges – Job oriented approach

Financial Challenges – Could have been better if more money was available

Policy Challenges – Not sure about the Macroeconomics

CHALLENGES

Incompetence – Lack of Planning – Investment, pricing, Hiring and

Monitoring

Lack of Market awareness

Lack of clear focus

Too much Money

Wrong advice from Family and Friends

Entrepreneur underestimated the time requirements

Being at wrong place at the wrong time

Wrong Hiring

START UP BUSINESS FAILURE RATE – 9/11

BUSINESS SURVIVAL - FACTORS

Growth

Financial Management

Sales Volatility

Start – Manage – Growth

To survive 3 years

OUR APPROACH

Qua Nutriti

on

ITIFFIN

Cash

How ?

Investment – Rs 3 Lakhs

STARTED IN THE YEAR 2011

Could have investment

more ?

Variable cost approach – Qua and Itiffin

Low Capex Approach

Why we avoided ?

Work around Customer - Solve problem keep the Customer in centre

Low Investment high value creation – Risk and reward

Managing Sales volatility – WOM and influencer Model and employee ownership

Changing the Business Model - To achieve short team goal without diluting long term vision –Franchisee Model and Product based approach

Financial Management - Variable cost approach and Low Capex

Hiring approach – Professional with right attitude - Multitasking

ITIFFIN AND QUA SURVIVAL STORY

Revisiting business model to check the assumption and modify to ensure minimising mistakes ( at least monthly once )

Funding – Market is not ready

Service and product combination - Qua and Itiffin

Managing low skilled people - day to day below the line challenges

Managing with Partners – Qualification Vs Experience Vs Influence

Visualising much in advance the human problems – 6th Sense

Worry - Money Vs Customer Acquisition - always have job in your hand

ITIFFIN AND QUA SURVIVAL STORY

Q & A

Thanks

tapan@itiffin.in+91-

9008600079