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<\/figure>\n\n\n\nAll trends, capital in the market flows towards what’s on radar of those top folks. Rest is all downstream. You may have a fabulous product & tech – but if you aren’t part of executive decisions or at least aware of them – then market isn’t in support of you.<\/p>\n\n\n\n
Methodology: – How I came up with the number:<\/strong> This is based on Hurun, Credit Suisse, UBS, income-tax data, Forbes and Times lists, along with tracking who actually influences capital, business and institutions. The numbers are estimates – not an official census – but they are my best educated estimate.<\/p>\n\n\n\n It was a bad week. My co-founder called, “Our colleague has met with an accident. Can you go to see him? He’s new to city”. It seemed the last 10 days were among the heaviest. I went to his PG, took him in my car to a doctor, fearing he might have had a fracture.<\/p>\n\n\n\n Lesson 1: 4800 Power & capital center care deeply about Alpha & Differentiation<\/strong>, Capital, Deep technology<\/strong> more than anything:<\/strong><\/mark><\/p>\n\n\n\n Just a few days earlier, we had 2 heavy blows. A lost deal at large bank worth $1-$2.5M. <\/p>\n\n\n\n But good part is – to be part of those 4800 – we need to be utterly distinguished. <\/p>\n\n\n\n Our email directly to CEO’s office got their office & strategy team working. Reaching back to us.<\/p>\n\n\n\n Find what’s keeping those 4800 awake at nights & how they get it done through systems. Rest evertyhing & millions of people are just downstream of what 4800 want. Trends starts form them.<\/mark><\/strong><\/p>\n\n\n\n Our proposal stood out alongside OpenAI, Google & one of the largest & well funded startups in India with $300M-400M free cash.<\/p>\n\n\n\n Despite we being small, building differentiation & unique value is the key<\/strong>. If there’s no alpha, forget ever being part of that club of 4800. As I said, not worth.<\/p>\n\n\n\n But still,- we got this, a lost deal. It hurts. I was literally stalking their team for 1.5years, scanning all their documents, podcasts & thinking beyond what’s not said.<\/p>\n\n\n\n “We regret to inform, we will not be proceeding further” – an email from CEO’s office of a large bank. The email tries to put balm, of course the team is courteous in offline & online communication.<\/p>\n\n\n\n It reads “This is in no way a reflection of your capabilities”. Despite this, it delivers deep pain. <\/p>\n\n\n\n We had lost a deal somewhere in the $1M-$2.5M range<\/strong>, depending on how the final scope was decided.<\/p>\n\n\n\n Lesson 2: One right win can put you on the global charts.<\/strong> Or go for Service led commoditized models <\/strong><\/mark><\/p>\n\n\n\n We chose the former.<\/p>\n\n\n\n If it worked, it could open up a path to further LTV north of $4M-$5M. <\/p>\n\n\n\n It was a chase of practically 1.5yrs, stalking their teams, scanning, reading, and studying deeply about the bank. <\/p>\n\n\n\n A few days later – I heard the announcement: the deal was awarded to a company which has raised north of $300-400M.<\/p>\n\n\n\n Lesson 3: At the highest level of 4800 people, CEO & decision making will finally go with $300-$400M kind of balance sheet<\/mark><\/strong>, but you can break this.<\/p>\n\n\n\n This is different than engaging with the procurement department, where there are 20 other vendors. Competition is on brand & price.<\/p>\n\n\n\n If you are different & aligned to the CEO’s goal, the price point is driven by you & the value you bring. The market doesn’t set it. CEO & you decide the price.<\/p>\n\n\n\n The power center respects you as a person. I met CEOs, they were gracious, polite, open to listen. But finally as humans – our actions may not always be as our wish or intend.<\/p>\n\n\n\n These are bound by institutions.<\/p>\n\n\n\n Lesson 4: Since, we don’t have balance sheet of $300-$400M – Our Alpha & a collective trust is the way out <\/mark><\/strong> <\/p>\n\n\n\n We are now focusing on first go via Innovation Sandbox through national agencies, with industry participation. We now are pitching to chairmen\/MDs\/CEOs of banks & other firms.<\/p>\n\n\n\n Back to race again. Also, we are making it low entry first. R&D-as-a-Service to get foot in the door.<\/p>\n\n\n\n Lesson 5: We had a bad week. It can spiral you down. Work double hard, more work. It helps<\/strong><\/mark><\/p>\n\n\n\n If that wasn’t enough – A VC that we had engaged over months, whom we thought was a good match on both sides, nice person & overlapping thesis – declined.<\/p>\n\n\n\n “Apologies for the delayed reply. But we could not build enough conviction”.<\/p>\n\n\n\n All this, when my family insisted to have Ganpati at home. I reluctantly acceeded to thier true love & devotion. I am sort of reluctant to take any new responsibility that doesn’t align directly indirectly with work of the company or immediate family.<\/p>\n\n\n\n It started spiralling & gulping morale. But as a founder, I found the ony way to recover is work more. Work double on actions.<\/p>\n\n\n\n Lesson 6: To engage with top 4800 capital & power center – Be bold, creative & fearless<\/strong><\/mark><\/p>\n\n\n\n Those are 4800 Alphas that control entire India. Yet they are humans like you & me. Humans like people who are like them. These Alphas are bold & fearless. So be creative, bold & fearless. That’s what will engage them. Not the GTM or Sales playbooks.<\/p>\n\n\n\n Building Deeptech is a cocktail of emotions while knowing you have to take fast decisions, take blows & still come back, all while trying to protect your colleagues & family. Though, I fear, in their eyes – I might have failed many a times. <\/p>\n\n\n\n If you care about being among Top 4800 people, then let’s have a jam sometime. I have firm belief – to justify being a startup or real investor or innovator, the destination & road of what we do must pull us towards that 4800 club.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" After losing large value deals of $1.5M to one of most well-funded startups, my lesson & deep analysis with first-order<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[31,11],"tags":[],"class_list":["post-3178","post","type-post","status-publish","format-standard","hentry","category-investments","category-leadership-trendsetters"],"yoast_head":"\nBad week – Lost deals worth $4M, but straight from how the capital & power centre works<\/h4>\n\n\n\n