Rejected By 70 Investors to Building $5 Billion Unicorn | Asish Mohapatra On Indian Startups | FO 64
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In this latest episode of Figuring Out Podcast we are in conversation with Asish Mohapatra Co-Founder and CEO of OFBusiness and we have discussed:
-How to make a startup profitable from day 1?
-Top 4 most profitable business in India
-What are the right ways and tools to build a business in India?
-7 steps to become successful
Asish Mohapatra is an Indian entrepreneur, who is the Co-Founder of two unicorns startups in India. Asish has a B. Tech in Mechanical Engineering from the Indian Institute of Technology, Kharagpur, and an MBA in Finance and Marketing from the Indian School of Business, Hyderabad.
Asish Mohapatra was a venture capitalist with Matrix Partners India for five years before he turned entrepreneur by co-founding OfBusiness in 2015.
OfBusiness turned unicorn with a $160 mn funding round that came on July 31, 2021, thereby becoming the 18th Indian startup to turn unicorn in 2021. Oxyzo, the lending arm, and a subsidiary of OfBusiness, has also joined the unicorn club in March 2022, after it successfully raised $200 mn in funding, in what has been hailed as India's largest Series A round.
Watch this episode till the end to know how Asish built OfBusiness from ground zero and his thoughts on profitability vs growth and much more.
Asish Mohapatra's Social Media Handles ⤵︎
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00:00 - Introduction
03:13 - What content Asish consume?
06:13 - How to achieve top in everything?
09:20 - How did Asish get inspiration?
13:08 - Why doesn't Asish have his own cabin?
16:34 - Top 5 principles of Asish Mohapatra
21:23 - Why don’t make plan B
23:21 - Dhanda approach
25:08 - Everyone should be a salesman
27:08 - How to build a billion dollar business?
36:49 - 4 big billion dollar businesses in India
42:55 - Dollar Vs Euro
45:00 - How to export?
49:08 - How Asish learn business?
51:55 - Role model of Asish
52:53 - Why was Asish a terrible investor?
58:26 - Investment philosophy of Asish
59:21 - How I receive investment from Asish
1:03:27 - 7 steps to become successful
1:07:51 - How to find your passion?
1:11:03 - I have stopped celebrating
1:14:43 - Why startups fail in India?
1:24:07 - Commitment vs Competency
1:28:51 - Which business Asish likes the most?
1:39:36 - Top 3 business fundamentals
1:40:35 - Why should business be complex?
1:43:51 - Where does Asish invest?
1:46:24 - How to become an alpha?
1:56:22 - How to become a better salesman?
2:03:39 - Conclusion
About Raj Shamani
Raj Shamani is an Entrepreneur at heart that explains his expertise in Business Content Creation & Public Speaking. He has delivered 200+ speeches in 26+ countries. Besides that, Raj is also an Angel Investor interested in crazy minds who are creating a sensation in the Fintech, FMCG, & passion economy space.
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