Transcribe
Balaji I have a quick fire round for you, a mighty mindset round that I'll ask you a few more questions, but you would have only one word or one phrase to answer. Okay. Are ready for this? Sure. Go ahead. Right, awesome. What's your biggest strength as an entrepreneur? I think I'm able to come up with solutions very quickly. What's your biggest weakness as an entrepreneur? I have low patience or okay, let me just say I have low patience. Right. What's the one personal habit that contributes to your success? I think I'm able to take ideas to their logical conclusion fairly fast. What's the best book you’ve read so far? Rich Dad, Poor Dad. What's the one online resource you would recommend to our listeners, could be a mobile app, website, you know software, tool or something like that. Well, I'm a geek so I look at one website called ustechnica, but I don't know. What's the one other startup that caught your attention at the moment? Don't tell me Paytm. I was going to say Paytm. That’s an easy answer. Probably I should remove this question from my entries. Everybody says same thing. Right. Yeah, they're doing a lot of fun stuff actually. Sorry? They are doing a lot of interesting stuff. Yeah, yeah. Right, well, my last question and then chop-chop round for you. I want you to think for a minute before you answer... If you could time travel back to the day one of where you started and you had one minute to speak to yourself with all the knowledge and experience you currently have, what would you tell yourself? Hmm... I would say that don't try to get all the features in the product right now. Rather spend time in getting the product market fit more, right? Why do you think so? I think we have been guilty of feature creep in our apps. Okay, and instead of focusing on the core user experience and trying to figure out what is easiest for the user, we believe I don't know, we’ve at least done that mistake in the past where we've kept on adding features and I think if we had had that clarity right at the onset, maybe you know, where we are today, we would have reached much faster. Absolutely. It's not the features. It's the user experience. You can have just little few features, but you can nail nail them. You know. Wow. What a great lesson. Before I let you go Balaji, what's your best advice for budding entrepreneurs? So I would say understand the pitfalls of entrepreneurship and plan it out. It's difficult. I've seen some entrepreneurs struggle a lot without a salary and you know, they’ve done it out for six months. But really you should plan for finances for at least two years and it's better if you have an alternative source of income. Let's say your spouse or you know some investment that is going to fund you. So that you know, you're not in a hurry to join the job. I think from a financial planning point of view, I think that's important. And secondly, of course your offering needs to be appropriate, but that's obvious. Wow, Financial Planning and your offering needs to be attractive or you need to solve a proper problem. Isn't it? Correct. Yeah. So Balaji, I'm sure people would like to reach out to you. Where can we find you my friend? Always you can email me. My email is balaji@styolife.com. balaji@styolife.com, if anyone is planning to reach out to Balaji, he has a great advice for you as well if you like to talk to him.