eTailing Conclave provides insight on doing business in the e-commerce space. It brings together renowned personalities like Prajakt Raut (Indian Angel Network), Chintan Bakhshi (Startup Oasis) and Manuj Goyal (Rain). In a panel discussion they talked about how to fund a start up and various mistakes that entrepreneur makes when they approach investors.
They explain that funding at different level requires certain things and how you fulfil those requirements determine your success. Generally, Three things that incubators wants in a start-up are, firstly what is the problem that your idea is solving and how big is that problem, secondly, how you define your customer and at last how you commercialize your idea. Similarly VCs also look for three things, firstly opportunity in market, whether this idea will turn out into 300-500 Cr. Company, Secondly, whether the concept is able to be the dominant player in the market and the most important thing is business team, how competent and aspiring they are for this idea.
Thus, you can start your business on your own, but it would be beneficial to take the help of those who are experts as they reduce the risk and act as a mentor.
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