create value money will follow - startup mantra

Disclaimer: These slides are prepared for education purpose only and used for presentation at IIM Udaipur. Pictures used are representation and sourced from google search, their copyrights are intact.

Create Value, Money Will Follow{Startup Mantra}

About Us {What we do}

MeriCAR.com is first in India web portal on car servicing. A network of car garages in India. The team is helping car owners to find the “right” car workshop based on customer reviews and industry standard. }{

Do they Need You? {First Validation}

In late 2008, there was no website dedicated on booking of car servicing in India. The team distributed leaflets in the local newspapers to know if anybody needed us. 15 customers tried us. }{

• FIND if they need your product or service.

• TALK to first few customers.

• ASK for suggestions.

Know Your Market Globally {Research}

We studied about the automotive industry and network with experts to know about the market and the global trends. }{

• SEARCH Google For Your Product Industry.

• KNOW about the Latest Trends.

• FIND the gap in the industry.

Do you know your customer?{Understanding Customer}

The team spent time understanding car garages business and their problems. Car garage is local business and depends upon referrals. They need support for building business online. }{

• SPEND time with your customers.

• KNOW about current business problems.

• KNOW about existing arrangements for solutions. (your competitors)

What Customer Will Pay?{Money For Value}

Car garages (customers) which was not happy to pay any amount when we started, now happy to pay good amount of commission. The Power of VALUE. }{

• CREATE awareness about your value amongst customers.

• SHOW your customer exact value by converting into saving of his TIME and MONEY.

How to Create Value?{Value Creation}

We created value by creating differentiation in the industry. The only company which supports small car garages to get “good” business enquiries. }{

• CREATE your own values.

• MAKE your services different from others.

• KNOW customers problems.

Development based on Customer Feedback?{Creating Value based on feedback}

From the beginning MeriCAR.com has a process to ask for feedback. It has helped us to improve our services. MeriCAR.com has also recorded videos of happy consumers. }{

• MAKE customer feedback as a part of the process.

• BE specific asking questions for feedback.

• LEARN from “unhappy” customers.

• ASK for referral from happy customer.

Do not follow Competitor?{Know Competitor’s Value}

MeriCAR.com had no direct competitor but followed some indirect competitors and wasted lots of money and efforts. Later, built the Real Value understanding their business. }{

• UNDERSTAND Competitor’s Business Value.

• COMPARE your “values”.

• CREATE Competitive Edge.

How To Raise Funds? {Fund Raising}

MeriCAR.com has got first investor in 2011 for working capital and promotions. }{

• You must have an answer – Why do I need to raise funds?

• Raise Funds from Investors who can understand “YOU”.

• Focus on your business scale, build values, investor would chase you.

Thank You

Rakesh SidanaFacebook: facebook.com/rakesh.sidana