Which specific entrepreneurial traits you could see in Suhag?

Answer:

Vision and Passion

Suhag had a very clear vision of his business. So she had the ability to plan out her long term
and short term goals and objectives. She was able to map out her future plans in an articulate
and efficient manner.

Another very important trait necessary in an entrepreneur is that she is passionate about her
work. Entrepreneurship is hard work and long hours, so she was passionate about what she
is doing. Such passion can translate into hard work and success.

Risk Taker. Perception: Women are less likely to take risks than men. Fact: On a cold
and windy afternoon, Khemlani steps out of the 47th floor of a high-rise and proceeds to
wash windows. If her heart’s pounding, she doesn’t show it. She’s doing what she wants
to: clean windows.

It needs a particularly strong stomach to be suspended 47 floors above the ground, and
Khemlani has it. "This is how I pictured an idyllic workplace, high above the ground,
with no traffic snarls to weigh me down, no rush hour to contend with, and no boring 9-
to-5 routines to stress about," she says.

A risk is an integral part of any new business. But it is an especially important factor in
entrepreneurship because here the entrepreneur bears the entire risk of the business. So it is
necessary that the entrepreneur has an adventurous and risk-taking personality.

Inspiration & Hard work; Khemlani got her inspiration from her father who ran a
company that supplied high-rise cleaning equipment. He mentioned casually that clients
who bought the equipment often inquired about people who’d actually do the cleaning.
There was no one in India, so Khemlani decided to step in. Her parents did not quite take
her seriously but indulged her by sending her to London for a month-long intensive
training session with the OCS group.

When she returned, she was ready to set up Technoclean India with her father. That was
in 1998, and she was 20. She started as marketing executive, and almost immediately ran
into hurdles. First, she was too young, and second, she was a woman. Her first break
came after five months, when Khemlani got a Rs 6,000 contract for Ruby Terrace.
Leader and Hard worker :

Khemlani might be a director but has no qualms about getting her hands dirty. She speaks
of the incredulous look on the face of the manager of Mumbai’s Hotel Intercontinental, a
contract she bagged recently. "He went, like, are you actually going to clean the facade
yourself," she recalls. She’s earned the respect of both clients and employees by having
the guts to rappel up and down skyscrapers, and the brains to work it into a business
opportunity that pays rich dividends. For fiscal 2004, she targets a turnover of Rs 3.5
crore.

One of the other important qualities of a successful entrepreneur is leadership. All good
entrepreneur are good leaders.

Q2

Suhag is planning to have entry in at least another 10 cities in India by 2020. Suggest
how she should raise capital to reach her target?

Networking and finding potential investors

You can never know too many people. While networking, you don’t necessarily need to
be constantly promoting your business; you should make sure you are helping other
people. This will help you garner a positive reputation, and when you help others get
what they want, they will be more likely to help you.

Keep in mind that you will face rejection when discussing your business with others.
Some investors may not be looking for an opportunity right now. For other people, your
concept simply won’t be the right fit. Knowing this going in can save you a lot of
heartache and stress.

Researching various investment groups and resources online can prove worthwhile. Just
don’t get sucked into the bottomless blackhole of the internet. Try making a phone call or
sending emails, so that you remain proactive when reaching out.

Finding companies that offer capital in your niche

If you have a niche business model aligned with ecommerce or SaaS, or you produce
devices for the healthcare industry, say, you can find investors that offer funding to those
types of companies.

This isn’t to suggest you won’t need to look for additional sources of funding, but if
finding tailored solutions streamlines your process of finding capital, it will be worth
looking into.
Getting your pitch deck ready

Much has already been said about the necessity of a pitch deck and the ways in which to
put together an effective presentation. The fundamentals are that your presentation should
be used to highlight the most attractive aspects of your business.

Keeping your target audience in mind and knowing what’s important to investors is key.

Generally, 10 to 15 slides containing information on your company, your team,

competition, target market, milestones, future plans and funding requirements is
sufficient. Armed with this information, your prospective investors should be better able
to decide on a course of action that’s in alignment with their best interests

Researching the different types of investors

Just because you’ve decided whom you’re going to go after and what amount to ask
doesn’t necessarily mean you’re going to get what you’ve requested. When it comes to
financial matters, the more options you can identify, the better. That way, you’ll always
have a backup plan when you need it.

Among the different types of investors out there that you may consider are: founders,
family, friends, venture capitalists, angel investors, single family offices, business
incubators, investment groups and crowdfunding pledgers.

Keeping in mind that some forms of funding are costlier and riskier than others, you can
also use credit cards, lines of credit, bank loans and the like. These financing options are
often last resorts or backup initiatives, as they are more contingent on the condition of
your personal finances and assets, versus the value or potential value of your business.

Bootstrap your business

Provided that your business isn’t operating in an industry that requires lots of startup
capital, like manufacturing or transportation, you can potentially fund your own venture
—and it may be more feasible than you think.

For instance, even if you don’t have enough in savings to run the operation, you could get
a 0% / low interest APR business credit card, offering you the chance to borrow cash for a
period of time without incurring interest.

Perhaps you think funding the business yourself carries lots of risk—and it does. But it’s
important to consider your potential.

Brent Gleeson, a leadership and team building coach specializing in organizational

transformations, states, “if you believe in your vision and have an absolute refusal to
accept failure as an option, you should feel comfortable investing your own money into
the business.”

Investing some of your own money will usually make investors and lenders more willing
to partner with you down the line.

Launch a crowdfunding campaign

There are many crowdfunding success stories out there. And with the right product and
pitch, you can be one of them.

For instance, in 2013, Formlabs, a maker of affordable desktop 3D printers, raised $3

million on Kickstarter. This capital allowed the company to scale their operation and
achieve their goal of manufacturing affordable 3D printers for the public.

Eventually, the 3D printer maker caught the attention of venture capitalists. During a
series A round, Formlabs closed $19 million in investments, giving them the chance to
expand beyond their initial goals.

Crowdfunding gives you the opportunity to connect with like-minded people who you
wouldn’t normally be able to engage. You can gauge interest in your product and
understand what’s resonating with people and what’s not. This shows you how to
improve your product and your pitch. Most importantly, crowdfunding can help you raise
money to fund your business.

So, how do you launch a successful crowdfunding campaign to raise capital for your
business?

Nathan Resnick, a serial entrepreneur who’s had success raising money on crowdfunding
sites, stresses that you must develop your story, as “people on crowdfunding sites like
Kickstarter or Indiegogo want to know how you turned your idea into a reality.”

Your video pitch must show the value of your product, the need it serves, and why you
require support. Having a good website and doing PR outreach helps as well.
Apply for a loan

Even as technology creates new ways of raising capital, traditional financing products
remain the primary way small businesses fund their operations. According to the Small
Business Administration (SBA), almost 75% of financing for new firms comes from
business loans, credit cards, and lines of credit.

Generally speaking, the small business loans with the most favorable rates and terms are
going to be SBA loans and term loans from banks and other financial institutions. To get
approved, you typically need to meet requirements like the following:

You have been in business for 2 years or more

The business has strong annual revenues (typically at least $100,000)

Good credit (like a score of 640+)

These aren’t hard and fast rules and will differ depending on the lender. If you don’t
qualify for a term loan with a good APR, there are other, albeit more expensive, types of
funding available.

If you have outstanding invoices, you could opt for invoice financing to get that money
faster. Or, if you need cash for machinery, tech devices, office furniture, or something
similar, consider equipment financing.

Before applying for a small business loan, make sure to prepare any loan documents
you’ll need to show ahead of time.  You’ll be asked to show a profit and loss statement,
balance sheets, tax returns and bank statements. In some cases your personal information
may be checked as well.

Get investment from venture capitalists

Venture capitalists (VCs) typically want to invest in slightly more mature companies than
angel investors and sometimes want to have more of a say in managing the day-to-day
operations.

Since VCs have a responsibility to achieve certain returns for the firm or fund, they want
scalable and cash-flow positive companies with proven and scalable products and
businesses.
If your company satisfies these requirements, you could apply for an investment with a
VC firm. It’s not the easiest thing to accomplish, but plenty of small businesses have done
it successfully.

Your pitch is crucial to obtaining funding. Sequoia, one of the most successful VC firms
on the planet, stresses, “you need to convey the main reasons why an investor should love
your business in the first 5 minutes.” Sequoia partners state you can do this in three
simple steps, which are:

Explain what’s changed. Detail the innovation, industry shift, or problem that presents
substantial opportunity for your company.

Explain what you do. In one sentence, show how your company can capitalize on this
opportunity.

Explain the facts. Get to your company’s story and financials quickly. Lay out the
opportunity with numbers. Discuss the team and their abilities and experience.

Get the capital you need to drive forward

The key lesson here is that you have many options for financing your business. Don’t get
discouraged if one doesn’t work out. By demonstrating due diligence and being
resourceful and persistent, you can raise the capital you need.