Mohammad Zeeshan conducted an interactive webinar session with Espark Viridian resident Startups. After a quick round of introductions, he shared his Startup’s story about how it evolved from a not so successful magazine offering to students to a personalized online workshop platform which caters the young student segment helping make a better-informed decision about their careers. Currently, they have around 30,000 students who have enrolled in their program while the company continues to scale up.
Further, he drove the session on Bootstrapping by sharing its pros and cons. He came up with examples of established Bootstrapped companies like Wittyfeed, Grabon and Zoho which have a million dollar evaluation. Some of the pros of bootstrapping the Zeeshan mentioned were – getting more time to experiment with the brand, more control and becoming more resourceful. Zeeshan insisted that the Startups having revenue generation, higher profitability in their business models are in a better position to Bootstrap. He also explained the calculation of Unit Economics for various Startup models.
Describing the cons of choosing Bootstrapping as a long-term strategy, he pointed out things like pressure to generate revenue from day 1, no external backing, higher risk of bankruptcy and being slow. He augmented having a mindset along with a business structure that ensures continuous revenue generation and profit helps one to Bootstrap for longer and have an undiluted equity.
Zeeshan also focused elaborated on the events that require to raise funds which can be while scaling up or to cover up the growing operational expenses or when one sees a funded competition coming.
The entrepreneurial audience engaged through questions around their own challenges and there were certain key takeaways for them to think through while they are building their own startups with us.