Reggie Aggarwal like great enterprenuer is a good orator and he know how to sell him and his business. Though the idea of the meet was not what Cvent does it was to encourage people to learn from experience of a seasoned entreprenuer. My main purpose of attending the event was he belonged to a non-traditional school of startups. By this i mean everywhere one goes first thing a wannabe entreprenuer is told is find a partner but he is one of the few people who went solo and proved it could be done all by a single decision maker at top.
He gave a very interesting view point in favour of this one man idealogy. He said “Think of a person worth in terms is he so important to business that you give away 50% of equity or instead you pay him his salary for 1 year with just 2% equity”. As a businessman its important for you to look at bigger picture. Generally when a person is throwing out equity to bring people out he is just trying to mitigate risk. This means if you are afraid you are asking people to come aboard a sinking ship willing to make them co-capitan if they can turn around then you might not be best cut to fit the entreprenuer bill.
Another important issue which reggie raised is lack of quality of candidates for sales and marketing. Even though our business schools are churning out graduates in big numbers its not helping the cause as students are not ready to take risk with small companies. In india small companies pay more than big companies which in terms mean companies are paying for risk share of employees. Which is otherway compared to firms in US.
His session has given me good idea on next series of posts i will write to help entreprenuers take the next plunge.