Sramana joins me today to explain what “unicorn businesses” are and why entrepreneurs need to stop chasing these unicorns. She shares the formula that she believes makes up a successful business, why over 99% of venture capital deals are typically rejected when seeking financing, and the parameters your business needs to meet to be considered a “fundable business.” She also explains the difference between a “real entrepreneur” and a “pseudo-entrepreneur” and why she believes smaller, profitable businesses should be celebrated.
“We are trying to create fortune in the middle of the pyramid. We do not believe that excess is a requirement for success.” - Sramana Mitra
Today on the Fierce Feminine Leadership Podcast:
- The impact that growing up in India had on her success and career.
- What prompted her to start her current company.
- Why over 99% of entrepreneurs seeking venture capital financing for their companies are rejected.
- Factors that must be present to receive venture capital funding.
- Challenges associated with presenting an alternative, controversial opinion and framework to venture capital funding.
- How she helps entrepreneurs with funding announcements.
- What are “unicorn businesses?”
- How Silicon Valley’s views of entrepreneurs and entrepreneurship have evolved over the years.
- The difference between “real entrepreneurs” and “pseudo-entrepreneurs.”
- Why technology is becoming an oligarchy and how it impacts entrepreneurs.
- How she finds time to feed her intellectual appetite, analyze trends, and be a thought-leader.
- Economist Magazine
Sramana Mitra’s Advice for Fierce Feminine Leaders:
- Surround yourself with smart people who are deep thinkers.
- Read publications that will give you a broad view of what is happening in the world.
Fierce Leadership Quotes:
- “Venture capital is an optional tool of building a business.”
- “I think $500,000 a year is a success; $1-Million a year is a success; $2-Million a year is a success because all of those are really difficult to do.
- “Building a business is very difficult to do. Building a profitable business is very difficult to do and whatever scale people are comfortable and successful doing it at needs to be celebrated.
Connect with Sramana Mitra:
- One Million by One Million
- Billion Dollar Unicorns book
- Entrepreneur Journeys book series
- Vision India 2020 book
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