Recently, I became a member of TIE Chennai chapter. In a few days time I got invited to a "My Story" session, where different entrepreneurs share their experiences and we met Muthu Logan. He narrated his story, I would say more of a success story which most of us would dream of.
Muthu, currently runs a company called Brovis and his claim to fame was de-licensing certain spectral bands in India for Broadband Wireless use which paved the way for a fast growing segment within the Wireless Telecom space leading to hotspots and rural connectivity programs.
Well, net of it:
1) He had almost no competition as he created a market for himself
2) Indian pricing is tough as most of time you will be competing with cheap labour - he didn't have to as in the wireless segment people can't carry messages in air!
3) He bootstrapped it with no VC funding and sustained till he could - didn't dilute equity
4) Took the risk of starting a product company in India with a group of dedicated guy.
5) He cut Price - when he had to compete; he offered services at a menacingly low price.
6) Travelled extensively across India and met people to understand the need
If you are an entrepreneur and dreaming of making it big you don't have to come up with a disruptive technology or idea. Just understand the need, get a robust product out, price it cheap and bootstrap it. Rest will follow...
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