Maulik Sailor, founder and CEO, Innovify shared his thoughts and experiences on product management and nurturing startups. This interview was published on the Star Business Podcast – a speciality show that interviews Founders of tomorrow’s fast growth, niche dominating businesses that could provide stellar shareholder returns.
He left his well-paid job to be an entrepreneur, he moved out from his penthouse to finance his business, he left almost everything to be his own instructor. Then he failed and was left with almost nothing but he didn’t give up, he stayed focused. He never believed in making the sky his limit because he desired to go beyond the sky and aimed to nurture startups and that’s what made him the founder of Innovify. Here is Maulik’s slice of life in the form of interview at The Chrissy B Show.
When startups and venture capitalists know a little about each other, it resembles the situation in arranged marriages. The way finding a perfect match is a critical decision for people in arranged marriages; for startups and venture capitalists too finding a perfect match is a very tough decision.
There are about 47,000 digital startups in the UK alone. How many out of them do you think really succeed? Not even 50%, yes you read it right…NOT EVEN 50%! And possibly less than 10% will survive beyond the fifth year and achieve the exponential growth that everyone dreams of.
Having an idea is not enough and before you begin your startup journey, you need to have answers for some of the most fundamental questions about your idea
Creativity is wonderful. But creativity that isn’t linked to making money is just a hobby. It isn’t a viable business concept. And the reason you are trying to come with a new idea is, ultimately, to make money. What we miss out here is the dimension of the customer / user. Every successful startup actually addresses a customer need / problem.
This year we wanted to compare why people implement agile (one of the biggest areas of importance) against agile’s ability to actually deliver value in those areas. The results? Agile implementation, on the whole, delivers what organizations hope for. The chart below compares mean importance against actual improvements companies who implemented agile saw in over a dozen areas measured. The ability to manage changing priorities, productivity and project visibility were the top areas of importance and corresponding improvements delivered.
There are several ways to develop software, two of the most prominent methods being waterfall and Agile. And as anytime there are two ways to go about something, a debate rages about which is best. Does it matter really? Doesn’t either way give you a product? We’ll let you decide. Today, we’re arming you with information about both waterfall and Agile methodologies so that you can make an informed decision as to what you think is best.
Typically, Corporates would have a strategic team deciding to develop a new product. However, before they decide, they will conduct a large scale market research, strategic planning, user research, etc. whereas in a Start-up, typically, the founders experience the need themselves and they perform a basic research before deciding to develop a new product
There is no right or wrong way, but just the most suitable way within the bounds of the situation for the company and the product that you want to develop.
Innovify Insights – Blog
Innovify, is a product management company that incubates start-ups. Many start-ups, who do not have a tech co-founder, fails to develop their products properly and end up with a high cost of development. Through Innovify, we enable these start-ups to easily develop their products, iteratively and at a much lower cost. Innovify typically acts as a product manager for the startup, looking after the overall product strategy. The founders can focus on building their business, sales and financing activities, leaving Innovify to deliver the product features as per their business milestones. Innovify also offers flexible invoicing with convertible debt or equity options that favours startups to quickly raise the funding.