🦈Dive into the Waters of Success with Sharks of India (Issue 005)

In today’s Issue 📥 :

• Learn the Business Lessons from India’s ‘Sharks’ on Shark Tank!

• North Korea showcased its missile production.

• Inkle Dips into Fresh $1.5 Mn Pre-Seed Pool, Looks to Take SaaS by Storm.

Shark Tank India’s Sharks Teach Everyone 6 Business Lessons

1. Use Technology to Scale Your Business – Peyush Bansal, Shark (Lenskart CEO)

Peyush Bansal’s Lenskart.com is a prime example of using technology for business growth in India. Started by an ex employ of Microsoft with no money, Lenskart scaled to over 1000 stores across 223 cities. Peyush invested in Neomotion, a startup for the differently-abled, on the show and his advice on technology has inspired viewers.

2. ‘One Person’s Trash is Another Person’s Treasure’ – Namita Thapar (ED, Emcure Pharmaceuticals)

Namita Thapar has the uncommon ability to see potential in something that others have ignored. Her famous phrase, ‘Yeh kachra nahi hain it has a lot of promise,’ gave encouragement to many entrepreneurs who had been rejected. Emcure Pharmaceuticals has grown from Rs. 500 crores in 2007 to Rs. 6,000 crores presently thanks to Namita’s passion and perseverance.

3. Seeing the Big Picture – Anupam Mittal (Founder, Shaadi.com)

Anupam Mittal is a successful Indian entrepreneur known for his clarity of thought and business sense, particularly in the field of matrimony. He founded the global brand Shaadi.com, which was ahead of its time in 1996 when it launched as an online database for finding a soulmate. The idea of finding one’s soulmate online was unheard of back in 1996 when the website was first launched.

4. Master the art of saying no – Aman Gupta (CMO, boat)

Aman Gupta is currently the most entertaining Shark on the show. Most of us can relate to his confidence, relatability, and cleverness. However, the sentence ‘Socho mat, mana kar do’ has been one of his most powerful teachings from the show.

The ability to say no when we are being undervalued is a talent that most of us require in life. Aman’s faith in his abilities has led him to decline pitches where his contribution was undervalued. As a result, his counsel to the show’s numerous businesses has been saying no when they are devalued. Aman co-founded boAt with Sameer Mehta in 2016, and the company’s sales have increased to INR 2,886.4 Cr by FY 2022.

5. The Math Magic – Vineeta Singh (CEO, Sugar Cosmetics)

Vineeta is one of the show’s brightest sharks, capable of performing intricate business calculations on the tips of her fingers. Vineeta understands the importance of math in running a large organization in addition to having a clear goal.

In a recent interview, Vineeta said “At the end of the day, your job is to create profit for the company, which is all numbers, and if you don’t have a good understanding, it could be hard”.

In 2012, Vineeta established Sugar Cosmetics in a market dominated by major players such as Lakmé, L’Oréal, and MAC Cosmetics. Through market research, she helped make Sugar the fastest-growing cosmetic brand in India, with over 2500 outlets in 130 cities. Vineeta credits her success to her analytical and quantitative skills.

6. ‘Pehle Banda, Phir Dhandha’ -Amit Jain (CEO, CarDekho.com)

Amit Jain, CEO of CarDekho.com, has frequently emphasized the importance of an entrepreneur’s talents over a company’s future potential. He fervently believes that the entrepreneur generates the business, not the other way around.

Amit Jain has a unique ability to assess an entrepreneur’s skills and determination. Even on the show, Amit Jain has placed bets on entrepreneurs above profitable businesses.

HOT SIP

Inkle Dips into Fresh $1.5 Mn Pre-Seed Pool, Looks to Take SaaS by Storm

What’s the fuss? The US is something of the holy grail for emerging technology companies around the world since it offers a sizable target market with affluent customers and companies that are eager to adopt innovation. However, foreign businesses who relocate to the United States are frequently taken aback by the amount of effort required to comply with tax and regulatory filing requirements.

The Indian start-up Inkle believes it can be of assistance and is now announcing the conclusion of its first funding round. Picus Capital, Saison Capital, and Force Ventures have led a $1.5 million pre-seed fundraising round for Inkle, a human chat-based US CPA SaaS application.

What’s Inkle?: Anand Krishna founded Inkle in late 2021 to provide software that allows US companies founded by abroad founders to efficiently and economically handle tax, accounting, and compliance. Inkle’s full-stack software and collaboration features enable multinational businesses to establish a scalable, on-demand, and cost-effective back office.

According to Inkle, the platform provides human chat with bookkeepers and CPAs, as well as transparent billing, team collaboration, clear dashboards with deadline alarms, and secure corporate document vaults. Transfer pricing, foreign direct investment, royalty payments, and complex group consolidation are just a few of the intercompany financial transactions that Inkle Books keeps track of within the group.

Inkle claims to facilitate reporting required by state, federal, and international regulations as well as registered agent and mailroom services. The business also says it will enter new markets, including crypto taxes and new trade routes like US-Canada and US-LATAM. Leading tech firms including Salesken, Mailmodo, Zoko, and DriveTrain are among its clientele.

SMALL SIPS

About Nehru: “If we miss out on mentioning Nehru anywhere, they (Congress) get upset. Nehru was such a great person, then why does none of them use the Nehru surname,” PM Modi questioned in Rajya Sabha.

Love: Bill Gates is seeing Paula Hurd, the widow of Mark Hurd, the late CEO of the software firm Oracle, who died in 2019. People report that the 67-year-old Microsoft co-founder has been seeing Paula Hurd, 60, for over a year.

ByteDance: The parent company of TikTok, is testing a feature on Douyin, its video app available only in mainland China, that allows restaurateurs to Livestream offers that viewers can buy for delivery.

Chill: Ajit Doval, the national security advisor, met with Russian President Vladimir Putin in Moscow. Held “wide-ranging discussions on bilateral and regional issues,” India’s embassy in Russia tweeted.

Vision: A doctor in Hyderabad published a case study of one of his patients, explaining how ‘smartphone vision syndrome’ (SVS) is produced and how she repaired her eyesight.

With CHAI ☕

Ceo: Sonos CEO says Amazon, and Google isn’t ‘doing anything interesting’ in audio.

How to: Maintain focus, according to a psychologist who studies how we interact with computers.

Aww: Dolphin-ly at Home.

It’s Interesting: Here’s what happened when a software developer lost more than Rs 2 lakh when booking a cab online.

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