Over the last week, we brought you thoughts from speakers who are sharing their ideas at the year’s biggest product and startup meet, The NASSCOM Product Conclave. This is our last post in this series and we are delighted to share the thoughts of Pallav Nadhani, Co-Founder of FusionCharts. Pallav is an entrepreneur and seed funder; he is also at the event to share his thoughts with the likes of Amit Ranjan, Amit Somani and Paras Chopra.
The below is the conversation I had in a telecon with Pallav.
Hi Pallav! FusionCharts today has 50+ employees and has users across 110 countries. How has been the journey and what is keeping you busy these days.
The journey from 2002 to till day has been ‘Terrific.’ Loads of learning but when I look back it has been a beautiful experience.
How to grow more in the data visualization industry keeps me grounded and busy too. The data visualization arena has not seen much of disruption and we as a team at FusionCharts want to re-define the way industry, people look at it. Off late industry has seen some advancements in the form of infographics but apart from that there are no disruptive ideas. So with this expansion of the team is something that I am busy with. The idea is how to grow, think of disruptive ideas and work on it as a team.
FusionCharts is a product that has been appreciated in the B2B arena. However we haven’t seen much of social media activities from FusionCharts. What are your thoughts on it and how important do you think social media is for startups?
Frankly speaking we haven’t worked much on the social media side apart from creating a presence on Facebook. We look forward to revamp this and engage with users very soon.
Social Media is a great tool and startups should take it seriously. It is a tool for validity of the product and provides lot of feedback from user’s in real time. However for products like us where we would like to engage with developers, technical forums are a perfect fit. A startup should find its own social media plan and work on its objectives.
You are at the #NASSCOMPC event sharing your thoughts on “Consumer Track: $100 Product idea validation—Spend big, or experiment on the fly” So which side are you on?
Before I share what stand I take I would tell startups to think on few action items:
1. Try to find problems in the market, try to think what product can solve them, is there a market and has it been solved earlier if yes then how was it done.
2. Once that is sorted out one should build a first iteration and try to push in the market to get valuable feedback and keep doing the process. We have done the same at FusionCharts over the years, kept several products in beta for real good time to get qualitative feedback from customers and constantly reiterate.
So experiment with the product but I would say the way we have done and not on the fly.
Pallav, you are an entrepreneur and a seed funder too. So what are the different aspects you look into a startup before funding it?
I look at couple of things and they are,
1. How passionate is the team.
2. How does the team plan or act if the idea flops, what is next in store.
3. The business area that the startup is trying to address, what problem it is solving and how flexible is the team.
4. Finally how open is the team for new ideas if something doesn’t work at any given stage.
Being an entrepreneur from an early age, would you like to share some ‘gyaan’ to aspiring entrepreneurs and why should they come to #NASSCOMPC?
I have always believed in one line, “Follow you passion, have fun and enjoy while you are following your passion”
And if you are a software or web entrepreneur then I would say that building a tech product is not enough. It is just the 25 percent. Try to ask yourself what are the pain points that have been solved and also concentrate on the product packaging, infra, etc as they compose the rest of the 75%.
Finally I am going to #NASSCOMPC to learn from others experiences. Every single year I have learned and that’s why I am going this year to. So if you believe in learning then you should be out there.
Thanks Pallav for sharing your thoughts. I am hopeful that I have loads of learning’s from the event. So if you are out there at #NASSCOMPC don’t forget to say a hello to me 🙂