About Asish MohapatraHe is a Co-Founder and CEO of OfBusiness and Oxyzo Financial Services. Since his childhood, he was interested in records and poems. He was an avid learner of sports records. He attended the Indian Institute of Technology (IIT) and Indian School of Business (ISB) before taking a consulting role at McKinsey, then transitioning to venture capital, and ultimately founding his own company. Recently, he made an investment in <a href="https://www.dezerv.in/">dezerv</a>, a company bringing wealth management to the middle class.

How Asish Mohapatra build a 'unicorn' after being rejected by over 70 investors

In his company, there are designated rooms that have either a company's name or an entrepreneur's name on them. For example, they have PayPal, HDFC, Zerodha, etc.1) Creating wealth not just for yourself but many people associated with the business.In his two companies, there are around 1600 people. Among these, around 800 have ESOPs.2) It should be a fun workplace.Keeping the work environment easy, only then he will be able to give his 100 percent.3) Think big.Dream the unthinkable.4) Go all in.Don't keep plan B.

Principles he stands by.

<ul><li>Should do unthinkable.</li><li>Should go all in.</li><li>Should bear the pain.</li><li>Should give 100%.</li><li>Should be a fun person.</li><li>Should be humble.</li><li>Should have the guts to take risks.</li><li>Should go with the flow (especially in learning).</li><li>Should have energy.</li></ul>

9 steps to becoming successful.

Think unthinkable but the road should be a real one.1. First think of making a profit.2. Have at least 10 really good people with various skillset.He defined 'really good' as people who I cannot match and I salute them for what they do. For example, a creative video editor.3. Bring cultural elements that will be long-lasting.For instance, in his company, everyone does their job. The CTO still codes, the CFO still does the accounting, etc.4. First 2-3 years, focus only on things that you know you will get done for sure. Don't take a big risk in the initial years.

How to make a billion-dollar company?

In addition to the above points, you may aim for the US market.Anything that you export from India (products & services) will bring revenue in $.The US market has a higher consumption rate as compared to the European market.There are two ways to grow:Organic: needs excellent executionInorganic: through acquisition, needs capital and vision.

continued...

Think about the unthinkable. He understood from his experience that most startups lose money while expanding. Consequently, he made profitability his goal—a seemingly impossible feat since in India, only Zoho and Zerodha have achieved $100 million in Profit After Tax (PAT). To succeed, the whole team must believe in the unimaginable and strive for a solution to multilayered problems. One of the biggest moats to have is 'complexity.'

What was his thought process to achieve so many things?

Company successes don't require recognition, but individual successes should always be celebrated. Without goals, an individual won't get far.For example, if a friend answers "going on" when asked how he's doing, it's likely he hasn't set any objectives. But if he's discussing his aims on the call, odds are he'll succeed.Businesses may not always have a concrete culture in the beginning, but opportunities to improve are always available.value of creating new solutions to address present challenges, and highlights the benefits of teamwork despite potential challenges.

Why do startups fail?

Speed up all three:<ul><li>Money</li><li>Fame</li><li>Competent</li></ul>

3 ways to increase commitment among employees.

In his childhood, he saw a classmate come in a big car and had nice things with him. He asked his mom, why can't have such things.His mom replied, "woh bade log hai" i.e. they are rich. That's when he got curious what is the meaning of being rich. He kept researching as a young boy for around 4-5 years.He finally made a list by grade 6. He defined rich as:<ul><li>You need to have money.</li><li>You need to have some art (personality).</li><li>He should be like a magnet</li><li>He should have something interesting to share.</li></ul>

What was the motivation to be rich and successful?

Drawing inspiration from US history, he founded his own venture based on three fundamental rights: Liberty, Equality, and Fraternity. As a result, he shuns the concept of a personal cabin and all employees have access to the same resources, like shared parking spaces, economy class travel, and hotel room sharing.

No cabin for him.

5) 'Dhanda' approach.The moment you invest your time in something, it should make money. In other words, the business should make money.6) Everyone should be a 'salesman.'To start anything, you need to SELL.His definition of a salesman is the other person should enjoy listening to you.If every person is a salesman, our relative chances of winning are higher.Characteristics of a good salesman:<ul><li>Should be able to use carrot-stick together. Agree and Disagree.</li><li>Should be an affable and humble person.</li><li>Should look at the other person in his eye i.e. confidence.</li><li>Should be energetic.</li></ul>

Principles he stands by (contd..)

Asish Mohapatra, the Co-Founder and CEO of OfBusiness and Oxyzo Financial Services, shares his thought process, motivation, and principles for success in this podcast. He also provides tips on how to create a billion-dollar company and increase employee commitment. Learn from his experience and insights to achieve your goals.

Order my first book here: https://amzn.eu/d/eCfijRu In this latest episode of Figuring Out Podcast we are in conversation with Asish Mohapatra Co-Founder and CEO of OFBusiness and we have discussed: -How to make a startup profitable from day 1? -Top 4 most profitable business in India -What are the right ways and tools to build a business in India? -7 steps to become successful Asish Mohapatra is an Indian entrepreneur, who is the Co-Founder of two unicorns startups in India. Asish has a B. Tech in Mechanical Engineering from the Indian Institute of Technology, Kharagpur, and an MBA in Finance and Marketing from the Indian School of Business, Hyderabad. Asish Mohapatra was a venture capitalist with Matrix Partners India for five years before he turned entrepreneur by co-founding OfBusiness in 2015. OfBusiness turned unicorn with a $160 mn funding round that came on July 31, 2021, thereby becoming the 18th Indian startup to turn unicorn in 2021. Oxyzo, the lending arm, and a subsidiary of OfBusiness, has also joined the unicorn club in March 2022, after it successfully raised $200 mn in funding, in what has been hailed as India's largest Series A round. Watch this episode till the end to know how Asish built OfBusiness from ground zero and his thoughts on profitability vs growth and much more. Asish Mohapatra's Social Media Handles ⤵︎ Instagram @asishmohaps https://www.instagram.com/asishmohaps/ Twitter @AsishMohapatra1 https://twitter.com/AsishMohapatra1 • • • 🎧 Stream Figuring Out episodes on Spotify: https://open.spotify.com/show/736rhmW7vilNgkFFo8aDz4 📺 Watch Figuring Out episodes on YouTube: https://youtube.com/playlist?list=PLE0Jo6NF_JYO5-phess8GKafKMtPv3tfZ ☑️ Subscribe to Figuring Out Clips: https://www.youtube.com/c/FiguringOutClips • • • Timestamps: 00:00 - Introduction 03:13 - What content Asish consume? 06:13 - How to achieve top in everything? 09:20 - How did Asish get inspiration? 13:08 - Why doesn't Asish have his own cabin? 16:34 - Top 5 principles of Asish Mohapatra 21:23 - Why don’t make plan B 23:21 - Dhanda approach 25:08 - Everyone should be a salesman 27:08 - How to build a billion dollar business? 36:49 - 4 big billion dollar businesses in India 42:55 - Dollar Vs Euro 45:00 - How to export? 49:08 - How Asish learn business? 51:55 - Role model of Asish 52:53 - Why was Asish a terrible investor? 58:26 - Investment philosophy of Asish 59:21 - How I receive investment from Asish 1:03:27 - 7 steps to become successful 1:07:51 - How to find your passion? 1:11:03 - I have stopped celebrating 1:14:43 - Why startups fail in India? 1:24:07 - Commitment vs Competency 1:28:51 - Which business Asish likes the most? 1:39:36 - Top 3 business fundamentals 1:40:35 - Why should business be complex? 1:43:51 - Where does Asish invest? 1:46:24 - How to become an alpha? 1:56:22 - How to become a better salesman? 2:03:39 - Conclusion About Raj Shamani Raj Shamani is an Entrepreneur at heart that explains his expertise in Business Content Creation & Public Speaking. He has delivered 200+ speeches in 26+ countries. Besides that, Raj is also an Angel Investor interested in crazy minds who are creating a sensation in the Fintech, FMCG, & passion economy space. To Know More, Follow Raj Shamani On ⤵︎ Instagram @RajShamani https://www.instagram.com/rajshamani/ Twitter @RajShamani https://twitter.com/rajshamani Facebook @ShamaniRaj https://www.facebook.com/shamaniraj LinkedIn - Raj Shamani https://www.linkedin.com/in/rajshamani/ • • • #Podcast #FiguringOut #RajShamani About Figuring Out Figuring Out Podcast is a Candid Conversations University where Raj Shamani brings raw conversations with the Top 1% in India. Become an exceptional speaker and own any room you enter with your confidence: https://m.rajshamani.com/4UtT

entrepreneurship

Entrepreneurship

business

Business

startup

Startups

podcasts

Podcasts

leadershipandmanagement

Leadership & Management

Order my first book 'Build, Don't Talk' here: https://amzn.eu/d/eCfijRu

--------------
Subscribe To Our Other YouTube Channels:-

https://www.youtube.com/@rajshamaniclips

https://www.youtube.com/@RajShamani.Shorts

-------------

In this latest episode of Figuring Out Podcast we are in conversation with Asish Mohapatra Co-Founder and CEO of OFBusiness and we have discussed:
-How to make a startup profitable from day 1?
-Top 4 most profitable business in India
-What are the right ways and tools to build a business in India?
-7 steps to become successful

Asish Mohapatra is an Indian entrepreneur, who is the Co-Founder of two unicorns startups in India. Asish has a B. Tech in Mechanical Engineering from the Indian Institute of Technology, Kharagpur, and an MBA in Finance and Marketing from the Indian School of Business, Hyderabad. 

Asish Mohapatra was a venture capitalist with Matrix Partners India for five years before he turned entrepreneur by co-founding OfBusiness in 2015.

OfBusiness turned unicorn with a $160 mn funding round that came on July 31, 2021, thereby becoming the 18th Indian startup to turn unicorn in 2021. Oxyzo, the lending arm, and a subsidiary of OfBusiness, has also joined the unicorn club in March 2022, after it successfully raised $200 mn in funding, in what has been hailed as India's largest Series A round.

Watch this episode till the end to know how Asish built OfBusiness from ground zero and his thoughts on profitability vs growth and much more.

Asish Mohapatra's Social Media Handles ⤵︎

Instagram @asishmohaps  
https://www.instagram.com/asishmohaps/

Twitter @AsishMohapatra1
https://twitter.com/AsishMohapatra1

-------------------------

🎧 Listen to Figuring Out Episode with Asish Mohapatra On Spotify: https://open.spotify.com/episode/7fuH3NswYD2VlRZRUk85Lb?si=472a1620151d42ff

🎧 Stream Figuring Out episodes on Spotify: 
https://open.spotify.com/show/736rhmW7vilNgkFFo8aDz4

📺 Watch Figuring Out episodes on YouTube:
https://youtube.com/playlist?list=PLE0Jo6NF_JYO5-phess8GKafKMtPv3tfZ

-------------

Timestamps:

00:00 - Introduction
03:13 - What content Asish consume?
06:13 - How to achieve top in everything?
09:20 - How did Asish get inspiration?
13:08 - Why doesn't Asish have his own cabin?
16:34 - Top 5 principles of Asish Mohapatra
21:23 - Why don’t make plan B
23:21 - Dhanda approach
25:08 - Everyone should be a salesman
27:08 - How to build a billion dollar business?
36:49 - 4 big billion dollar businesses in India
42:55 - Dollar Vs Euro
45:00 - How to export?
49:08 - How Asish learn business?
51:55 - Role model of Asish
52:53 - Why was Asish a terrible investor?
58:26 - Investment philosophy of Asish
59:21 - How I receive investment from Asish
1:03:27 - 7 steps to become successful
1:07:51 - How to find your passion?
1:11:03 - I have stopped celebrating
1:14:43 - Why startups fail in India?
1:24:07 - Commitment vs Competency
1:28:51 - Which business Asish likes the most?
1:39:36 - Top 3 business fundamentals
1:40:35 - Why should business be complex?
1:43:51 - Where does Asish invest?
1:46:24 - How to become an alpha?
1:56:22 - How to become a better salesman?
2:03:39 - Conclusion

-------------

My gear for shooting this video: 

Canon EOS 200D II 24.1MP DSLR Camera: https://amzn.to/3GuiPFK
Canon EF50MM F/1.8 STM Lens: https://amzn.to/3WZOSoi
Canon EF-S 18-55mm f/3.5-5.6: https://amzn.to/3ZpKBMy
Yunteng Aluminium Tripod (Vct-690, Black): https://amzn.to/3ItEzV0
Zoom H6 All Black (2020 Version): https://amzn.to/3irUCIf
Shure SM7B Cardioid Vocal Dynamic Microphone: https://amzn.to/3GPimiM
Shure MV7 USB Podcast Microphone: https://amzn.to/3Xjy63d
GODOX SL150II 150W LED Video Light: https://amzn.to/3XeN0aL

------------------

About Raj Shamani
Raj Shamani is an Entrepreneur at heart that explains his expertise in Business Content Creation & Public Speaking. He has delivered 200+ speeches in 26+ countries. Besides that, Raj is also an Angel Investor interested in crazy minds who are creating a sensation in the Fintech, FMCG, & passion economy space.

To Know More,
Follow Raj Shamani On ⤵︎

Instagram @RajShamani
https://www.instagram.com/rajshamani/

Twitter @RajShamani
https://twitter.com/rajshamani

Facebook @ShamaniRaj
https://www.facebook.com/shamaniraj

LinkedIn - Raj Shamani
https://www.linkedin.com/in/rajshamani/

•   •   •

#Podcast #FiguringOut #RajShamani

About Figuring Out
Figuring Out Podcast is a Candid Conversations University where Raj Shamani brings raw conversations with the Top 1% in India.

Raj comes out amidst the people who have no great shakes in their lives and are totally unclear about where this life is taking them. He had dreams but a highly vague direction. His thirst for knowledge, travel, learning, and success kept him going no matter how many hardships came his way.

He will make you believe in yourself much more than you do and feel unique and noteworthy. At the same time, you experience his journey from being one of those teenagers who are just too lazy to do anything but only manage to pass with 45-50% of grades, to such fascinating things he has done in no time.

Being a twenty-year-young, he has spoken in India, Romania, the USA, Austria, Singapore, and many more countries and has left people delightfully inspired and moved by his sessions while he makes them interestingly interactive. He was just seventeen when he started working with some renowned firms like Jaguar, Land Rover, TATA, and several chemical associations.