The presentation was shown during a workshop on "Entrepreneurial Thinking" at IEEE Chennai Chapter on 29th Dec 2012

1. :-)
Learnings for starting-up!
sitash & manik
co-founders

2. quick intro

3. Sitash & Manik graduated their
college
management school together where
the idea of Jade Magnet was born
Jade Magnet helps businesses get
creative marketing and design solutions
work
from a network of over 7,000 designers
using crowdsourcing.
Jade Magnet has been chosen by TiE
as one of the top 4 companies in India in
the TiE ecosystem.
college
It was selected by Business Today as
one of India’s Hottest Startups.
It won the Most Innovative technology work
startup award at Global Technology
Summit, Palo Alto, California
Jade Magnet was chosen as a
NASSCOM EMERGE company in 2011
startup

4. @ Jade Magnet
a new creative paradigm
crowd imagination crowd flexibility
on-demand
increase/decrease of
team size
add
skill-sets
on-demand
crowd expertise

5. numbers
1,000 customers
2,000+ projects
28% repeat business
30% project profitability
Tracking $500,000 revenue for 2012-13

6. some startup facts

7. Most successful startups begin in wilderness
You can never be sure how you will navigate the
jungle … there are customers who don’t know
50,000 fewer startups began their
journey in the UK in 2008 compared
you and predatory competitors who do.
to the previous year
Image credits: http://brajeshwar.com/2008/open-source-startups/
Image credits: http://brajeshwar.com/2008/open-source-startups/

8. Only 9% of businesses started in Who’s driving!?
1992 are still running
Have you prepared yourself enough to
unlearn whatever your cushy, high-paying
corporate job taught you?
Startups ain’t for sleepy chickens!

9. Simple Rule
It’s all about footwork
CCA < CLV When you do cool things, people talk about
CCA = Cost of Customer Acquisition
CLV = Customer Lifetime Value
you. You get more press, more blog posts,
more stuff on Twitter. That leads to more
business. – Brain Kaiser

10. Less than 5% entrepreneurs are
able to manage with 6 hours of
Taste freedom ? daily sleep.
Oh yeah … you can sleep all you want since
you are not in a “job” anymore ... that is, if
you can sleep at all !!

11. what to start

12. look for megatrends
Petrol Cost of Human
prices Technology nature

13. u like problems?
What??!!
Incomplete work!?
Too many decisions!
Expensive solutions
Unorganized sector

14. which problems can u solve
Can u make
Which problems are you money?
passionate about! Begin small

15. find global examples
Allstate Insurance Kickstarter has helped
in the US, is using creatives raise more than
crowdsourcing for $130 million in about 3
“big-data-analysis” to years by crowdfunding
study insurance risks about 17,000 projects
RangDe.org Shekhar Kapur
has raised more is launching “Qyuki”
than $1.5 mn for for crowdsourcing of
over 12,000 entertainment
borrowers in India content

16. taking the leap
Lifestyle adjustments
Bank balance
Family situation
Backup plans 

17. business plan 101

18. revenue streams
1, 2 or 3

19. assumptions
Market behavior
(target) Customer behavior
Vendor costs People costs
Marketing strategy
Travel costs
Legalities

20. cost vs. revenue
Year 1 profit/loss
Year 2 profit/loss
Year 3 profit/loss
Funding needs

21. starting the process

22. INCORPORATION
Private Limited, LLP, Partnership, Sole Proprietorship

23. Advertising | Marketing Strategy | Product Placement | Publicity | Branding | Sales
Promotion | Pricing |Research | Direct Marketing

24. TEAM
Hiring, Delegation, Retention and Motivation

25. Cash Flow
Managing the cash flow is the
biggest challenge

26. Governance
- Quarterly Audit
- Regular Board Meetings
- Taxation
- Legal Documentation
- Financial Documentation

27. Connect with Jade Magnet
contact@jademagnet.com facebook.com/jademagnet @jademagnet
sitash@jademagnet.com manik@jademagnet.com
Global
A NASSCOM
Innovator A TiE-EAP
EMERGE
of 2011 @ Company
company for
GTS,
2012
Silicon Valley
www.jademagnet.com