“A startup journey is a roller coaster ride, so have great attitude and maturity.” – Mukund Mohan.
A very true thought here indeed and the Indian startup community too will agree to this. Mukund who is an Entrepreneur and a VC too is also one of the key speakers at the #NASSCOMPC event. We got in touch with him to know more about Jivity and his talks at the event. Mukund was more than happy to share his thoughts in detail that is shared below:
1. Hi Mukund, thanks for talking to us. Can you quickly share the journey from Buzzgain to Jivity?
Thanks Prasant! After working with a few large companies like Cisco, HP, etc. I preferred to walk ahead as an Entrepreneur. I launched BuzzGain which was much more than a regular social media monitoring tool in Jun’08 and finally sold it to Meltwater in Jan’10. After that Jivity was started with an idea to create customized merchandise experiences for brands leveraging social media. Today as the CEO of Jivity, I am responsible for the strategy, direction and vision for the company. With more than 80 employees across India, 40 customers mostly MNC’s, we are creating a strong brand merchandising for organizations.
2. Jivity leverages social media and mobile NFC technology to personalize brand engagement. Can you share your thoughts on it and how effectively it is being done?
Leveraging of social media is one of the USP’s of Jivity. Traditionally, organizations would use newsletters, ad campaigns which not only had a huge cost involved but was missing in terms of reach and real time engagement. Today with social media not only the costs have gone down but the engagement has become more real-time. These are some of the reasons why Jivity has embraced social media.
With social media Jivity is also connecting with its users via location based service and providing value to the users. For e.g. suppose TCS India is our client and an employee of TCS visits Nainital for a family vacation. If he does a checkin with our location based app, then Jivity will either show him valuable deals at the particular hotel or he may earn points to be redeemed later.
3. You will be at the #NASSCOMPC where you are conducting a workshop with Vinita Ananth on How to build a high performance lead generation engine with tele sales. Can you share what participants can look from it?
Yes and some of the key areas that I am going to focus are as follows:
1. Ability of building non-linear and SaaS based apps.
2. How can companies find markets at foreign locales?
3. How startups can work on expanding their sales without considering its headcount?
4. And finally sharing my thoughts on how startups can build a sales team, how cold calling can be scripted correctly, training people, etc.
4. You are also part of Primer on Angel Investment: The Entrepreneurs cut. So from your point of view what are the things that an entrepreneur needs to keep in mind before approaching a VC?
The focus today is more on to find a set of best entrepreneurs but along with finding a VC, an entrepreneur should also plan well. Lots of people today have become VC’s but as an entrepreneur one should look deep in finding out what does the VC bring apart from the money. So an entrepreneur needs to find a VC that is ready to help, share his thoughts, provide valuable higher connections or clients for round two funding apart from only investing money.
So these are the various aspects that I would be sharing my thoughts on during this talk.
5. How do you see the social commerce space in India, considering Jivity is also in the same space and what are the present challenges?
Social Commerce in India is in its nascent stages and Jivity has a long way to go in social commerce too. Social commerce should include local information to make it meaningful. For e.g. If tomorrow you are going to meet your dad since it is his birthday then as a social commerce company one should reach you at the airport with a gift for your dad. This is one of the future road maps that Jivity is working on too.
Some of the bigger challenges today in India with Social Commerce are as follows:
1. People are not doing much of commerce on the social front.
2. The conversion rate on Facebook is very minute when compared to eCommerce.
3. People are unclear on sharing personal content on social networking sites.
4. And issues such as penetration levels in non-metros, infrastructure problems, etc. also pose various challenges.
6. Piece of advice to entrepreneurs in India.
All my life I’ve believed in three statements that have helped to shape my career which I also share with young entrepreneurs.
1. Be good story tellers.
2. Ability to have a great attitude and maturity. Startup is a roller coaster ride so be ready for ups and downs every day.
3. And have discipline in life.
Thanks Mukund for your thoughts on Indian social commerce, advices to entrepreneurs are really helpful and appreciative. We are definitely looking forward to Mukund’s talk at the #NASSCOMPC event, what about you?