Startup Tuesday Episode-2
Following the success of the first episode of ‘Startup Tuesday’, as promised, Shishir is back with another session to guide the bright minds of the nation on their startup journey.
If you are new here, Shishir Gupta, Founder and CEO of StartupLanes dedicates one hour from his time every week to help entrepreneurs with their startup-related questions. He is among the top 15 in the world for Venture Capital and startup consulting, rated by the 100s of users who took his paid consulting.
Shishir has researched for three years while writing his book ‘Startup Easy’ which has immensely helped him in gaining domain expertise. With a purpose to help and encourage fellow Indian entrepreneurs, Shishir is conducting ‘Startup Tuesday‘, a one-hour zoom QnA session for 100 people free of cost.
You can ask him anything about startups, funding, traction, pitch deck, angel investors, VCs, and much more. Keep reading for the details.
Q1. What would be the best platform to get a loan for my startup?
Shishir: Startups should try to raise funds through equity instead of taking a loan. You can consider raising funds from angel investors and we can definitely help you out with the process through our exclusive demo days. Click here to listen to the complete answer.
Q2. If I only hire two people in my company, would I need to make provisions for PFs or minimum wages?
Shishir: You need not worry about PFs or ESI but you need to have a proper offer letter in place to protect your intellectual property. StartupLanes can again help you with this if you want. To know more, click here.
Q3. Is availing tax benefits under ‘Startup India’ the right approach?
Shishir: There is no relaxation for startups in GST. You don’t need GST till you have Rs. 40 lacs but if you’re doing business from outside your state, then it is mandatory for you to have a GST number. Click here to listen to the entire answer.
Q4. I’m planning on taking a job for extra income. Can I account it to my personal PAN?
Shishir: In the case of consultancy income, you can port your personal PAN but if the income is coming from your business, then it should be accounted under the company PAN. Click here for the complete answer.
Q5. I run an experiential activation journey and post-covid have ventured into augmented reality, AI, etc. Should I run that part of my business as a separate entity or merge both of them and offer to the investor for raising funds?
Shishir: I would recommend raising funds for the existing company and merge the business there and once the new business is successful, you can split it and run it independently. Click here for more details.
Q6. We want to move ahead on a product-based model but many confusions are arising when we pitch our ideas to the investor. How do you suggest we move ahead with this?
Shishir: You can extrapolate whatever you have done in the past and draw out future expectations. But for something that you haven’t already done, presents a huge risk for the investors. Click here to listen to the complete explanation.
Q7. What is the valuation method going on these days?
Shishir: There are 9 methods of valuation but I have propounded another method which is based upon 26 points (A-Z). There are several methods available and you can choose whichever you like. Click here to know more.
Q8. My real estate company has discontinued a few services due to a shortage of funds but they are still in huge demand. How should we go about it?
Shishir: You have to initially build the product because real estate services cannot easily raise funding from angel investors. Listen to the entire answer here.
Q9. Will my B2B cosmetic model be suitable in the Indian market? How can I find the right people who are actually interested in the business?
Shishir: I’ll connect you with the founder of a similar startup and you can discuss this with her. I can discuss this with you offline. Click here for the complete answer.
Q10. If we issue e-learning certificates, do we need to register somewhere?
Shishir: Unless you’re an affiliated body, you don’t need to register anywhere. If you want, you can add a disclaimer stating that you’re not affiliated with any establishment. This will protect you from legal challenges. Listen to the entire answer here.
Q11. We prepare startups for funding rounds but because of the pandemic, the HNIs are not investing too much. Moreover, startups use different methods of valuation and show inflated numbers. How can we overcome this difference in valuation between the HNIs and startups? Is there a way we can connect these startups with you to see if you can help them?
Shishir: As per the Generally Accepted Accounting Principles, accounting in India is based on assets and startups don’t have assets. This becomes a challenge. But a startup-based investment banker might understand the right way to value a startup. For the entire answer, click here.
Q12. How should I answer questions about competing with new players who copy my business model?
Shishir: If you are able to disrupt, either by pricing or convenience, you can definitely have an advantage. If your competitors use the same business model, they might not be able to sell at a price that you can offer. Click here for the complete answer.
Stay tuned for upcoming episodes from ‘Startup Tuesday‘.
You can join Shishir in the ‘Ask Me Anything’ session every tuesday. Click here to register now.
Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
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