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“What happens is that entrepreneurship isn’t a straight line. Today, there is a headwind. Tomorrow, there’ll be a tailwind. The real thing is that it’s a chakravyuh.” — Raamdeo Agarwal Ramdeo Agarwal, the chairman and co-founder of Motilal Oswal, one of India’s most respected…

In the last two decades, the software-as-a-service (SaaS) industry has reshaped how enterprises operate, communicate, and grow, becoming the backbone of modern enterprises. Today, software accounts for ~20 percent of the total enterprise spending on technology but has a value…

In this conversation, Prashant shares his take on PMF – a need is being served and in a profitable way; it may or may not have scale, but there is ideally a sublinear correlation between growth and a key parameter, like cost of acquisition of customers, that is, when you are…

As an investor, I believe that when investing in a business that involves a business model innovation or a shift in consumer behavior, having a strong investment thesis is crucial. This thesis takes years, sometimes even a decade, to materialize, as it relies on natural tech…

“India is not a big market. It’s a small market with a big potential and your business plans need to provide for it.” — Manish Sabharwal A great way to understand the mind of Manish Sabharwal is to peep into his Goodreads account. In it, you can amuse yourself with vivid books,…

India is amongst the most credit-poor of the major economies. Our total credit to GDP ratio is 55% (versus the global average of 148%). China for instance is over 3x India’s ratio. Now while too much of credit isn’t a good thing, being underpenetrated on credit does mean that…

A decade ago, you’d think only a celebrity endorsement on the TV could scream ​“we have arrived” for a product. Scrolling through a tiny screen watching an influencer perform a fun skit about your new sunscreen launch now has the same effect. Working with…

PMF Convo #7 – Vasanth Kamath, Founder & CEO at smallcase Vasanth Kamath and the smallcase team have been very intentional, deliberate operators building a well-crafted and thought-through product in smallcase. The use of lower case alphabet is deliberate (again that word!) as…

PMF Convo #6 – Asad Khan, Co-Founder & CEO at LambdaTest This was one of the first interviews I conducted, as part of the research for my book on product market fit (PMF here onwards). Asad is cofounder & CEO, LambdaTest, building one of the most technically innovative India…

“Should I go slow for some time in the short-term to allow myself to go faster in the long-term?” ​“Why is my company slowing down even though I have more people?” ​“How to create an organizational structure?” Founders encounter…

The fintech industry is undergoing a swift transformation and expansion, which can sometimes feel overwhelming even to its insiders. As India marches forward in the digital era, it becomes imperative for emerging entrepreneurs and seasoned professionals alike to draw wisdom…

Online platforms like Amazon and Walmart, daily visited by billions of shoppers, have evolved beyond their traditional role as mere shopping destinations. They have leveraged their massive reach and engagement to manifest into powerful advertising ecosystems dubbed the…

When first introduced into venture parlance, the definition of a Unicorn was strictly limited to a privately held company valued at over $1 billion within a decade of its existence. In 2013, this definition applied to only a few Indian companies, such as InMobi and Flipkart.…

The report Future of Money, co-authored by Subhendu Panigrahi and Ashish Fafadia, sheds light on the evolving landscape of Central Bank Digital Currencies (CBDCs) and their role in the monetary ecosystem. In this two-part thesis, we…

A lot of people ask me if I’m crazy to start up again. And I understand where they’re coming from. Startups are painful, especially in the initial days. There is too much work and too many unknowns. You have to assemble a team, organize funds, and iterate on ideas –…

The VC investing ecosystem can often seem complex and difficult to understand to an outsider. There is an imbalance of information between investors and even the founders themselves. As more and more ambitious founders launch their businesses, it becomes increasingly…

Life came full circle for Pankaj Vermani when he founded Clovia, a lingerie company. While his family had a lingerie business, where he spent many afternoons as an apprentice, Pankaj was encouraged to focus on academics instead of taking over the business. He ended up…

Srikrishnan Ganesan, also known as Sri, is a seasoned founder and a staunch advocate of the power of community in helping fellow founders through their business journeys. He is currently the co-founder and CEO of Rocketlane, a SaaS tool that streamlines onboarding projects,…

I first heard of Chameleon, which helps SaaS companies improve their product adoption processes and practices, from Sheel Mohnot when I was interviewing him for our PMF Convo. In our convo, Sheel mentioned this company that took six years from their Seed to Series A raise. I was…

If you ask ChatGPT to create a diet plan for you, it does an excellent job of creating a detailed line-up of healthy meals along with recipes. But there are numerous risks involved in listening to an AI that has no input from a healthcare professional. ChatGPT…