Sketchnote: ENT101 Lived It Lecture–Kunal Gupta, Polar Mobile

Update Jan 17, 2013: Added video! I sketchnoted this live at the free MaRS Entrepreneurship 101 series (webcast and in-person session every Wednesday). Click on the image for a larger version of sketchnotes. 20130109 ENT101 Lived It Lecture - Kunal Gupta, Polar Mobile Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence. Here's the video: Lived it Lecture with Kunal Gupta of Polar Mobile ― Entrepreneurship 101 2012/13 from MaRS Discovery District on Vimeo. Find more details on MaRS Discovery District's blog. Check out my other ENT101 sketchnotes, or other sketchnotes and visual book notes! Text: MaRS ENTREPRENEURSHIP 101 Jan 9, 2013 #ENT101 Lived It Lecture KUNAL GUPTA, POLAR MOBILE Focusing less on entrepreneurship and more on the ENTREPRENEUR Our story: While we were studying at Waterloo: iPhone App store, still one year away Inspired by mobile experience in Hong Kong: Watching TV! The great thing about Co-op was that I learned I don't want to work for anybody. So we started a company! Nobody knew what apps were. (Huh?) Prototype of magazine on Blackberry meeting: Why would anyone use this? Where are the ads? How do we get content in? Q: Finding talent? A: Referrals, events Q: Pricing? A: Listen. "How would you like to pay for this? -> Model neg. Go out there and talk to customers even big companies! Nobody knew what I was talking about! (What's an app?) We'll think about it. (3-6 months..) We could've given up. We didn't. 10 weeks, 9 phone calls... BUSINESS! Professional persistence! We launched 6 months before the App store Went after US market in between exams Q: Negotiation A: Put off pricing -> validate problem first Early days - no one expects you to have a rate card. As a supplier, you want to use your own agreements eventually. Q: Explaining ideas to people who pass it on A: 1. Keep it simple. 2. Ask if they understand 3. Don't need to sell in first meeting. Q: Small startup e-mailing/selling big companies. A: Short, links at bottom. Put yourself in their shoes. Would I reply to this? We graduated and went full-time. There's so much noise about the difficulty of getting FUNDING. THE REAL CHALLENGE / Is there a proven market? / Do you have a product or service of value? Can it SCALE? / Do you have the TEAM you need? Singapore is an AMAZING country. They always shoot for gold. Learn from lots of places around the world. Q: Future of mobile? A: Amount of consumption -> 30% of traffic now mobile, will cross 50%.. mobile-first. Changing the way people interact. Manufacturers - what are people buying? Investments? Growth? Q: Deciding between do and delegate? A: What's the most important thing for your business at this time? That guides your time. Q: Managing cofounders A: Transparency -> trust. Expectations, concerns. Alignment. How did we get Time Warner? E-mailed the president! What's a little Canadian company doing in New York? Blackberry -> made in Canada 9 months to get to a deal rollercoaster I was so stubborn I insisted on having Sports Illustrated as part of the deal What we thought this would take What it took TEAM: Hire for aptitude and attitude, train for skills What should we do? You know more about this than I do Oh! Alignment is important but hard New vision Ex: BANANAS People become more similar... When you're starting out, you need to keep REALIGNING Chief Everything Officer } It's not the right thing to do! You can't scale Guarantee: You'll make more mistakes than your team. Get over yourself. Your body barometer for business: stressed? focused? Hey, is everything all right? You seem a little off. Should I finish school? Yes. Learn how to do things you don't want to do. You have to learn how to make tough decisions. Toronto: Great place to start! customers talent listen and develop product Vancouver: Happier? REMEMBER: HAVE FUN!

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