Starting a business is more than just having a workable idea. The right factors need to be in place to create a cohesive environment for the company to take off. In light of the above, to provide startups the right catapult, our founder Srinivas Katta recently spoke at an event held by TiE Bangalore.
This is part of the many talks that we aim to cover under our Cap-Ed knowledge management series. The aim is to help entrepreneurs explore opportunities and clear nuances associated with setting up the business in the local and international landscape.
In the event, Srinivas has addressed points on:
- The need to have an entity established in India, whether the place of business is in India or outside
- Managing two entities in two different jurisdictions
- Holding shares in foreign jurisdictions
- Company restructure- When should startups consider this option?
- Opportunities available to SAAS companies
- Importance of choosing the right team in the early stages of the company
- Approach to networking with incubators or accelerators
In his talk, Srinivas was of the opinion that- Startups should choose advisors who can provide time and attention to the company in its initial stages- something that large advisory firms may not be able to give. He also mentioned that it is more feasible to have partners in the same space as the nature of the business the company is undertaking who are well aware of the industry practices. This creates better networking opportunities and obtains the necessary expertise needed at the initial stages of the company.
On undertaking business in the international market, Srinivas firmly believes that companies must adhere to international data laws along with being in compliance with local laws. Companies must also pay attention to the general cost principles and have proper contracts in place when dealing with different vendors.
The talk ended with Srinivas addressing questions of various entrepreneurs at the event. We hope that this session will help you understand the fundamentals around starting a business.