It is hard to build a profitable internet business at scale in India, but not impossible. Let me talk about ixigo's FY2020 performance. But first, the back story (with @rajnishkumar)
FY2017: 22 crores revenue. FY2018: 67 crores revenue.
3x growth in a year. Something was working !
1. Instead of discounting, focus on organic and product-innovation led growth (our original mojo)
2. Become a full-blown OTA and build our own customer experience grounds up.
3. Get back to the frugal mindset we began with.
2020 JFM Quarter, we touched nearly 30 million monthly active users, and we also had our first fully profitable quarter. None of this possible without the ixigems putting in 12-15 hours a day!
153 crores Net Revenue (35% YoY growth)
5.4 crores EBITDA Loss (87% Profitability Improvement)
Cash-flow Positive
The "how we survived COVID" story is for some other day. But tomorrow, a big announcement coming ...
More from Business
Introducing "The Balloon Effect"
Many businesses & creators have experienced a similar pattern of success.
From @MrBeastYT and @MorningBrew to @oatly and @Rovio.
Let's break down what "The Balloon Effect" is and examples of it in real life.
Keep reading 👇
1/ What is "The Balloon Effect"?
It is a particular pattern of growth.
It is not Instagram's growth trajectory.
It is not https://t.co/5axsTUKek6's growth trajectory.
"The Balloon Effect" is defined by several years of hard work & grit complemented by slow, linear growth.
2/ And then one day, one month, or one quarter...everything changes.
A business hits a tipping point and its trajectory shifts entirely.
Gradual growth turns to exponential growth & your brand and your size explode.
Like a step function.
3/ Now, you're probably wondering.
Why is it called "The Balloon Effect"?
Because filling/popping a water balloon follows the exact pattern I just described (and so many businesses experience).
Long unsexy slog 👉 Exponential tipping point.
4/ Initially, you turn on the faucet & water takes up space in the empty balloon.
Through effort you open the faucet, yet the results are unexciting.
But it's what must be done for water (or growth) to happen at all.
It's not sexy, but it's necessary.
Many businesses & creators have experienced a similar pattern of success.
From @MrBeastYT and @MorningBrew to @oatly and @Rovio.
Let's break down what "The Balloon Effect" is and examples of it in real life.
Keep reading 👇
1/ What is "The Balloon Effect"?
It is a particular pattern of growth.
It is not Instagram's growth trajectory.
It is not https://t.co/5axsTUKek6's growth trajectory.
"The Balloon Effect" is defined by several years of hard work & grit complemented by slow, linear growth.
2/ And then one day, one month, or one quarter...everything changes.
A business hits a tipping point and its trajectory shifts entirely.
Gradual growth turns to exponential growth & your brand and your size explode.
Like a step function.
3/ Now, you're probably wondering.
Why is it called "The Balloon Effect"?
Because filling/popping a water balloon follows the exact pattern I just described (and so many businesses experience).
Long unsexy slog 👉 Exponential tipping point.
4/ Initially, you turn on the faucet & water takes up space in the empty balloon.
Through effort you open the faucet, yet the results are unexciting.
But it's what must be done for water (or growth) to happen at all.
It's not sexy, but it's necessary.
Should we go into the details of these 125 years?
SA is built on the exploitation of labour. That labour has functioned on alcohol unfortunately. Very few people consume liquor purely for enjoyment unfortunately. When SAB opened its doors 1895 workers were paid in alcohol- the dop/tot system. 2 years into SAB's establishment
The Prohibition Act is introduced. This means black people are barred from buying your wines, beer etc. So SAB's products are exclusively for white people. But during this period beer brewing by Black women is the norm. Ayinxilisi ncam ke this type of beer. Apparently it had some
Nutritious elements to it. Now some of the context around drinking culture during this time is migrant labour to the mines, further land dispossession, the Anglo-Boer Wars, Rhodes corruption (our first state capture commission if you will) which leads to his resignation.
This context plays a role in how our cities and small towns are constructed, how they lead to the confinement and surveillance yabantu. Traditional beer brewing is identified as a threat because buy now mining bosses have identified that there's money to be made here.
SAB has formed part of the fabric of SA for the last 125 years & we've stood behind the nation through its triumphs & challenges. After much consideration,SAB has decided to approach the Courts to challenge the Constitutionality of the decision taken to re-ban the sale of alcohol pic.twitter.com/40rWpJSW5b
— SABreweries (@SABreweries) January 6, 2021
SA is built on the exploitation of labour. That labour has functioned on alcohol unfortunately. Very few people consume liquor purely for enjoyment unfortunately. When SAB opened its doors 1895 workers were paid in alcohol- the dop/tot system. 2 years into SAB's establishment
The Prohibition Act is introduced. This means black people are barred from buying your wines, beer etc. So SAB's products are exclusively for white people. But during this period beer brewing by Black women is the norm. Ayinxilisi ncam ke this type of beer. Apparently it had some
Nutritious elements to it. Now some of the context around drinking culture during this time is migrant labour to the mines, further land dispossession, the Anglo-Boer Wars, Rhodes corruption (our first state capture commission if you will) which leads to his resignation.
This context plays a role in how our cities and small towns are constructed, how they lead to the confinement and surveillance yabantu. Traditional beer brewing is identified as a threat because buy now mining bosses have identified that there's money to be made here.
There are 100s of threads on building and running startups.
Here are 10 that are pure gold:
Fund-raising is hard for all of us.
@justinkan shares some unique insights on how to do it well.
We rarely hear honest reflections from founders on what they messed up.
@apartovi shares his reflections on a deal that went wrong with Steve Jobs.
Some gems in this thread by @agazdecki on a wide variety of founder
shares some solid principles learned from building a multi-billion dollar business.
Here are 10 that are pure gold:
Fund-raising is hard for all of us.
@justinkan shares some unique insights on how to do it well.
I've raised over $150,000,000 as a founder, simply by being a good storyteller.
— Justin Kan (@justinkan) October 20, 2021
Here's how to get VC's to throw money at you:
We rarely hear honest reflections from founders on what they messed up.
@apartovi shares his reflections on a deal that went wrong with Steve Jobs.
As the world celebrated Steve Jobs\u2019s life last week, I recalled a lesson he taught me. My one meeting with Steve didn\u2019t end well. It\u2019s one of my most painful memories, and a warning to startup CEOs about the danger of taking hype too far. Here\u2019s the story. (1/n)
— Ali Partovi (@apartovi) October 10, 2021
Some gems in this thread by @agazdecki on a wide variety of founder
Here's 20 of my top startup tweets... \U0001f9f5
— Andrew Gazdecki (@agazdecki) October 16, 2021
shares some solid principles learned from building a multi-billion dollar business.
Over the last 5 years, I built a $4B company.
— Ryan Breslow \U0001f57a (@ryantakesoff) September 20, 2021
Sounds awesome right?
Not until recently.
I made every mistake imaginable.
The toughest part was getting my head right.
Here are the 12 mindset rules that I\u2019ve developed.
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1/“What would need to be true for you to….X”
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody:
2/ First, “X” could be lots of things. Examples: What would need to be true for you to
- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal
3/ Normally, we aren’t that direct. Example from startup/VC land:
Founders leave VC meetings thinking that every VC will invest, but they rarely do.
Worse over, the founders don’t know what they need to do in order to be fundable.
4/ So why should you ask the magic Q?
To get clarity.
You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.
It also holds them (mentally) accountable once the thing they need becomes true.
5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”
Multiple responses to this question are likely to deliver a positive result.
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody:
Next level tactic when closing a sale, candidate, or investment:
— Erik Torenberg (@eriktorenberg) February 27, 2018
Ask: \u201cWhat needs to be true for you to be all in?\u201d
You'll usually get an explicit answer that you might not get otherwise. It also holds them accountable once the thing they need becomes true.
2/ First, “X” could be lots of things. Examples: What would need to be true for you to
- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal
3/ Normally, we aren’t that direct. Example from startup/VC land:
Founders leave VC meetings thinking that every VC will invest, but they rarely do.
Worse over, the founders don’t know what they need to do in order to be fundable.
4/ So why should you ask the magic Q?
To get clarity.
You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.
It also holds them (mentally) accountable once the thing they need becomes true.
5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”
Multiple responses to this question are likely to deliver a positive result.
IMPORTANCE, ADVANTAGES AND CHARACTERISTICS OF BHAGWAT PURAN
It was Ved Vyas who edited the eighteen thousand shlokas of Bhagwat. This book destroys all your sins. It has twelve parts which are like kalpvraksh.
In the first skandh, the importance of Vedvyas
and characters of Pandavas are described by the dialogues between Suutji and Shaunakji. Then there is the story of Parikshit.
Next there is a Brahm Narad dialogue describing the avtaar of Bhagwan. Then the characteristics of Puraan are mentioned.
It also discusses the evolution of universe.( https://t.co/2aK1AZSC79 )
Next is the portrayal of Vidur and his dialogue with Maitreyji. Then there is a mention of Creation of universe by Brahma and the preachings of Sankhya by Kapil Muni.
In the next section we find the portrayal of Sati, Dhruv, Pruthu, and the story of ancient King, Bahirshi.
In the next section we find the character of King Priyavrat and his sons, different types of loks in this universe, and description of Narak. ( https://t.co/gmDTkLktKS )
In the sixth part we find the portrayal of Ajaamil ( https://t.co/LdVSSNspa2 ), Daksh and the birth of Marudgans( https://t.co/tecNidVckj )
In the seventh section we find the story of Prahlad and the description of Varnashram dharma. This section is based on karma vaasna.
It was Ved Vyas who edited the eighteen thousand shlokas of Bhagwat. This book destroys all your sins. It has twelve parts which are like kalpvraksh.
In the first skandh, the importance of Vedvyas
and characters of Pandavas are described by the dialogues between Suutji and Shaunakji. Then there is the story of Parikshit.
Next there is a Brahm Narad dialogue describing the avtaar of Bhagwan. Then the characteristics of Puraan are mentioned.
It also discusses the evolution of universe.( https://t.co/2aK1AZSC79 )
Next is the portrayal of Vidur and his dialogue with Maitreyji. Then there is a mention of Creation of universe by Brahma and the preachings of Sankhya by Kapil Muni.
HOW LIFE EVOLVED IN THIS UNIVERSE AS PER OUR SCRIPTURES.
— Anshul Pandey (@Anshulspiritual) August 29, 2020
Well maximum of Living being are the Vansaj of Rishi Kashyap. I have tried to give stories from different-different Puran. So lets start.... pic.twitter.com/MrrTS4xORk
In the next section we find the portrayal of Sati, Dhruv, Pruthu, and the story of ancient King, Bahirshi.
In the next section we find the character of King Priyavrat and his sons, different types of loks in this universe, and description of Narak. ( https://t.co/gmDTkLktKS )
Thread on NARK(HELL) / \u0928\u0930\u094d\u0915
— Anshul Pandey (@Anshulspiritual) August 11, 2020
Well today i will take you to a journey where nobody wants to go i.e Nark. Hence beware of doing Adharma/Evil things. There are various mentions in Puranas about Nark, But my Thread is only as per Bhagwat puran(SS attached in below Thread)
1/8 pic.twitter.com/raHYWtB53Q
In the sixth part we find the portrayal of Ajaamil ( https://t.co/LdVSSNspa2 ), Daksh and the birth of Marudgans( https://t.co/tecNidVckj )
In the seventh section we find the story of Prahlad and the description of Varnashram dharma. This section is based on karma vaasna.
#THREAD
— Anshul Pandey (@Anshulspiritual) August 12, 2020
WHY PARENTS CHOOSE RELIGIOUS OR PARAMATMA'S NAMES FOR THEIR CHILDREN AND WHICH ARE THE EASIEST WAY TO WASH AWAY YOUR SINS.
Yesterday I had described the types of Naraka's and the Sin or Adharma for a person to be there.
1/8 pic.twitter.com/XjPB2hfnUC