The speaker of the event was Ritesh Malik, a man who has started more than 26 ventures. Introducing himself as a man coming from a family doctors, he told us about the problems a guy faces in a Punjabi family (no offence 🙂 ) when he decides to take an unconventional road.
He shared with us his life journey, which he had divided into 4 parts – DVD, BBE, APS and FNP.
- DVD – Development Verbal Dyspraxia
A speech sound disorder in which a child has problems saying sound syllables and words.
- BBE – Bullied By Everyone
Due to aforementioned disorder he was the subject to jokes and was bullied by his school mates.
- APS – Asian Parent Syndrome
Having typical Indian Parents, he was forced to follow his family tradition of becoming a doctor.
- FNP – Face Not Pretty
I guess this one is self-explanatory.
He showed us with parts of his own life that persistence, perservance & hard work, anything could be achieved and this very quality is what led to his later success in life.
After motivating session he boiled his talk to serious business & discussed with us the most important ingredients of any start-up, i.e.
Product, Process & People
their priority being in this very order.
According to him, a startup should be –
1) describable in about 6 words
2) able to get a pleasing answer for “Will someone pay for your product?”
3) focus on design.
4) take culture as the key. No politics should exist within a start-up.
5) intolerant to meritocracy
6) fugal about time. It is the most important resource.
We all want to know the difference between corporate and start-up. Mr. Malik quenched this curiosity of us young readers by presenting us the following table –
Then he addressed the problem that strikes first in a young aspiring mind of an entrepreneur – “How to find investors?”
He wittily answered,“Investors never invest if you go to them.You build a great product and investors will approach you.”
The session was humorous and brimming with information and insight about entrepreneurship, & which is evident from the answer he gave to a question of “How to find a co-founder? “, to which he replied, “A co-founder is like a wife. They are not found, they are the people you know inside out. Moreover, it is not necessary to have a co-founder, what is important is a good team.”
eDC was proud to host a person as knowledgeable and experienced as Mr. Ritesh Malik.