Indian Startup Ecosystem EXPLAINED - How To Be Profitable? ft. Ritesh Malik | FO 49 - Raj Shamani
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In this week’s episode of Figuring Out we have Ritesh Malik Founder & CEO of Innov8 Coworking. And in this podcast we have discussed:
-What needs to change with India’s current education system?
-How to deal with competitors?
-What is stopping India from becoming truly a world power?
-What type of startup fails and succeeds?
-How to build the right culture for your organisation?
-What is that one thing every entrepreneur is wrong about?
Ritesh Malik is a medical doctor turned entrepreneur and angel investor, who is extremely passionate about building products which create impact at scale leveraging technology.
Coming from a family of doctors, he was forced into doing medicine, and post that he started working at Sir Ganga Ram Hospital, Delhi, which he didn’t like for one bit, because, back of his mind, he always wanted to do something much more impactful.
In the year 2012, he decided to quit his medical professional and took the entrepreneurial plunge, where he ventured into setting up augmented reality startup AdStuck, which developed an app called Alive in JV with the Times Of India Group, however, he exited from the company after it got acquired by Bennett, Coleman and Company Limited, commonly known as The Times Group in 2013. Then in 2016 he founded Innov8 Working.
In this podcast we talked about the Indian education system, wealth generation, startup failures, the future of the Indian market, and more. Watch the podcast till the end to know complete details.
Ritesh Malik's
Social Media Handles ⤵︎
Instagram @drriteshmalik
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Twitter @drriteshmalik
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Timestamps:
00:00 - Introduction
01:53 - Strength of US Dollar
04:53 - Money Vs Health and Relationships
06:04 - Problem with Indian education system
08:05 - Why do we value wealth so much?
10:29 - What needs to change in our Education system?
11:24 - Is the Indian media biased?
16:37 - Purpose of Startup
21:25 - How to make a product stand out?
26:22 - How to beat your competition?
33:07 - What type of startup fails and succeeds?
37:58 - Easiest way to make money
40:56 - How to retain talent?
48:25 - India Vs Foreign Countries
50:59 - Human Resource Scarcity
52:56 - What’s happening in Silicon Valley?
57:25 - Should we start making massy products?
1:11:14 - What can be the next big business?
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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.
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About Figuring Out
Figuring Out Podcast is a Candid Conversations University where Raj Shamani brings raw conversations with the Top 1% in India.
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Hey Raj bhaiya.. I am big fan of yours your podcast add value in my day to day life I am so thankful 💗 I recently visited your perfume website and honestly.. I don't get any kick by seeing the perfumes.. and website also.. pls hirebew designer for your website.. and my question is to you.. why would I buy your perfume instead of other brand,and what factors differs your perfume from other brand like Bella Vita ,beardo, villain?. And your amazing I love you bhaiya ☺️😊
His numbers are incorrect. India actually sees more Tourists visit the country compared to UAE, we also rank higher than UAE in # of tourists per year. I encourage everyone reading this to do a quick google search on the same.
Also, 30% of UAE's GDP is dependent on Oil.
I loved the podcast, and have huge amounts of respect for Ritesh sir, but this I think this is a reminder to all of us out here to always double check facts on our own.
Great sir
True brother
We need more Ritesh Malik for development and progress of the country with human values along with career growth.
Thanks for wonderful conversation touching points which are invaluable.
85% uae economy based on oil export
16.7 million toursit came to uae in 2019 and Over 17.9 million foreign tourists arrived in India in 2019
Bhai ye gadha hai isko use bhego
thank you so much for highlighting the major issues in our country Dr. Ritesh Malik.
Dr ritesh malik defines motivation to me. I remember meeting him. He is a legend.
Raj I have started watching your podcasts more often now. Kudos to you, you're doing an amazing job.
1st time someone says raising funds for business or startup is not something to be proud of..same thing was going on my mind for several days.. thanks for reiterating this.
Mind blowing conversation, thanks a lot to both of you.
This talk shared the light on many topics.
Thanks.
glad to hear that
I appreciate the speaker's emphasis on avoiding conflict between Hindus and Muslims in India. It's shameful that such conflicts persist in this day and age. Additionally, his statement about not watching TV resonates with me. I haven't watched TV for the past decade because it tends to make me pessimistic about India's future. It's refreshing to hear talks like this that address the core issues facing India. We need more discussions like these.
I think there must be balance of inner and outer world....i am software developer....as a problem solver i can guarantee you history is as important as present or fututre....so learn and develop according to your interests.....knowledge is the pursuit you must be after.......i think we must start taking role models like our rishi muni's who use to have diverse knowledge about the universe
How do u know that rishi munis had diverse knowledge abt future. Glorifying ur distinct history and disregarding ur current history , is that what is needed in this country. Instead of thinking abt a history which doesn't exist, find problems and solve them.
@@prabhatsharma1300 which doesn't exist...... Bro people can exaggerate things but..... I am from himachal pradesh and I live in Glasgow...... I know we have issues.... Go and study our bhagwat gita vedas and them come back here...... You focus on yourself and everyone focus on themselves ......i have seen various places where rishi's have meditated and I can guarantee you that there is knowledge..... See our temples.... History is lost but we have emotions...... Brother every present moment becomes your past and that present moment is replaced by future........and please meine aapko gussa dilane ke liye nhi bola tha... But i know we need those as our role model..... And please gussa mat kiya kro... Mera message bahut calm but you created it like meine pta nhi kya hi bol diya.. Meine role models ki baat ki.... You choose what you want in your life... I will choose what I want..... So please never try to hurt people.........and history is history no one is saying to disregard your history......if you really want that history so be it and remain colonised forever from your mind. Keep doing what westerns are doing....
And again this universe is not all about issues.... Its also about truths.... And that's what I am after...... We can't change anyone but ourselves... So focus on yourself and change..... And in reality change is the only constant that exist
We should know about culture and learn a good way living
@@prabhatsharma1300 brother every thing every inventions which is done or founded by any sci or anyyone existing in this world was discovered thousands of years before them just take example or Rishi Kanad and Aryabhatt who taught and discovered cosmology astrology astrophysics physics maths chemistry thousands nd thousands of yrs before
India has a knack for dissapointing both optimists and pessimists.
Raj, thanks for doing such type of conversations. Dr. Ritesh is a gem to listen
thank you for such kind words
@@rajshamani sir hm apse kaise mile
@@rajshamani😮😮
Very insightful and inspiring podcast Raj. Keep it up.
Greaaaat conversation!!! 💯🙌🏼
Thank you so much From my bottom of my Heart ❤️ ...!
Creating such wonderful Knowledgeable and Great content for us..Rajshamani brother.....!
I felt that,
Ritesh Sir shared his knowledge and experience of entire life ...
I'm requesting if possible make more Podcast with him...
Thank you so much for Lovely content
Watched the Full Podcast, Great work guys😃
What a briliant episode!! Truly superb! Please invite him more
History is relevant in character building.
Characterless people don't know that 😀
Character building is done by what is taught to you at home. You just learn what is right and what is wrong by studying history but nowhere is that the measure of your character
@@kaushiksivaraman5203 u first measure what to take or not from any information. That bias is itself a measure.
Past is history so is memory.
Memory governs our behavior so past is relevant in character building.
His-story contains lessons to apply in Your-story. Refining the lessons from ore to nuggets of gold is our task.
@@narenderchaudhary2926 nope brother, that extrapolation is not apt. memory is linked one's personal experience, while history is not (doesn't has a fixed boundary to stretch infact). If someone's character is being shaped based on things that happened 100s of years back, then I'm at loss of words
Great great conversation, the real points we need to discuss 😇😇😇😇😇
yes indeed
A 21-year young person generally has friends, family, and people who talked to him or her. They have good health and a family, the thing they have most needed is money. So, This is the reason young people aspire for wealth then relationships and health.
A 45-year-old person generally has experience where he had many conditions when he/she lost or deceived by his friend or a family member and also sometimes they have health issues, but the prevalent thing is most of the time is relationship and 90-year-old person generally have health issues. So, all these answers given by different ages of people are because of what prevalent thinking they have in their minds at that time.
Undoubtedly one of the best & an eye opener podcast!!
It was so so much insightful 😍😍
so glad to hear that
Utta nahi kya eyes opening😊😂
Very Enthusiastic Conversation ..
Excellent podcast 👏 👌 👍 Bring more... thanks both of you for valuable knowledge...
thank you
Man, patience from Raj to listen is so good. I like your all guests. Keep up the good work. Also hats of to your team for great research of questions.
This was an eye opener video for me, Thanks alot❤
Please continue bringing great conversations like this on our channel, you are really implanting valuable thoughts into the minds seating in different pockets of India.
Keep growing ✅
Youth of the country should not get brainwashed by left liberal gang. It's very dangerous.
thank you so much😃
Are you coming from Maharashtra bhau??
Again a brilliant conversation
Thank you Raj Shamani
thank you so much 😀
44:41 One of the best advice. When I went for sports with my colleagues during my initial days in the office, I realised how different they used to behaved. Now after few years when they have started showing their true colors, I realised I have seen this behaviour during those sports times.
Very good...reality is hard and tough
Thank You
The good things about this conversation is you guys explain while life condition in one podcasts...
💯
Bhaiya you what fact or similarity i come to know from this podcast is to be analytical minded
It was amazing really you all doing great compare to media.
I take figuring out podcast has subject which will be for whole life by giving 1:30hr in week come to learn lot .
Amazing i younger brother who is 14 has also started taking interest in it.
really helpful !!!!
Watching at 2:30 a.m.. Awesome.. I don't want to sleep.. It's so good to come across such thoughts.. Great to come across Dr. Ritesh sir. Mindset💯💯
so glad to hear that
This is the best podcast in the entire series. True words of wisdom 💯💯
One should listen this more then once to get the most out of it🔥🤘
Bro you are killing in the podcast world. I don't know how I watched your whole podcast without skipping.
All your conversations are interesting and amazing 💯💯🔥
Thank you so much :)
Abe Terroisssst
Finally a doctor. Please share more information regarding health care system. Thankyou🧡
Yeah sir its just great to watch
Whattt a podcast!!! Just amazing 👏
Glad you enjoyed it!
best one so far :)
Amazing conversation 👍👍
thank you
Random entrepreneurs commenting on politics. He knows verh limited on politics. He never have read about political science or Indian scenerios.
Wt a gr8 talked .. very informative thank you..
please try to talk more about their journey , how they reach there and their life lesson 🤗!!!
Thanks 👍
This is the best podcast till now dr Hitesh is a university himself great knowledge ⚡️⚡️⚡️⚡️⚡️⚡️⚡️⚡️⚡️✨✨✨✨✨✨💥💥💥💥💥💥💥
Listening to his ideas is very interesting but he went wrong with some data. Just to correct here are some.
1. Income through the oil exports of UAE - In 2011, oil exports accounted for 77% of the UAE's state budget, not 0.99%.
2. Indian tourists number- 17.9 million (2019 data) not 4.1 million.
3. UAE tourists number - 16.7 million (2019 data) not 3.9 million.
(Excerpts from Wikipedia)
Great Podcast 👌
Amazing sir 🙌🙌🙌
Thank you!!
Very good conversation Raj!! Really loved the podcast
thank you so much
It was a phenomenal conversation.....so much to learn from the greats.👍👍
Fortunate to have acess to these type of podcasts.
Thank u so much❤️❤️❤️
Very Insightful Podcast 🔥
so glad to hear that
Thanks..so many lessons to be learnt 👍👍✌️
Amazing Insights
thank you :)
We need Dr.malik kind of personalities to lead our country.Unfortunately Politics doesn't go around this way in our country.
Please make another podcast with Dr Ritesh Malik sir .
Middle class Father still thinks about MONEY FIRST LO ... Their concept is PAISA he to RELATIONSHIP acha hoga or RELATIONSHIP acha he to HEALTH bhi acha hii hoga... And I believe that's TRUE from his side and MINE.
I think people in India who are into startups should focus on customer success platform...this is something I feel is lacking in Indian startups....they are deliberately focused on generating revenue from new account....wherein the actual fact is... no one is taking steps to contain the accounts which are already in the organization's...
thanks Raj for bringing on this great podcasts
thanks!
“Are you going to use Pythagoras theorem today?” Only said by someone who has never made any physical object
Hardly. 00001% made that I think
@@alphaindian2847 and those people work in technical field like DRDO and ISRO. And all tech around is built by such people rest 99% are there consumer.
Some of the trading algorithms in stock market are based on scientific theories, the application of science is beyond imagination of these guys...!
I measure short cuts while morning walk using pythagoras theorem xD, like walking along the diagonals rather than the circumference of a field.
Bhai example tha… point samjo unka
sir, great podcast. and value given for startups.
💯💯
Dr. Ritesh Malik ❤❤
Thanks bro for this podcast
So glad you liked it :)
Best episode till now
Keep up the GOOD WORK brother .
What he talke about hiring is similar to SSB process in the armed forces that's they eliver on each obstacle and yes i totally agree on investing moeny and time on ethical startups, many are not doing the same.
Great content
good sir i learn so many thing for it .It add value in my life
Glad to hear that
For someone who does not listen anything below 2× speed... you make me listen to these conversations on normal speed because they are so information dense and value packed.
Thank you so much for this Raj. I wish you great success. ❤❤
Those who came with biases. Missed amazing podcast of 76min because of 3min they cant digest. Grow up
We accept media is not perfect..but the things around us are also not perfect..if we consider an issue of hindu Muslim then why they are silent on majority of issues where majority people suffers due to them..why everyday terrorists are being caught..the people who got privileges in their life talks such way..what common man suffer on the ground they don't understand
One of the best podcast I have ever seen
happy to hear that
Awesome
Good, he brought the point of hindu-muslims.
We need a full hindi podcast with your geust, pure video me caption dekh dekh kar aankhen dukh Rahi hai.🤣🤣🤣🤣😢😢😢
Nice
37:35 so true , these days i can see "apni kaksha vs physics walla" as an open secret that when u have money then how easily u can make things difficult for others
Bhai long hota to hota but stop nhi krna chahiye tha love you @ritesh Malik
Really very good conversation so much to learn
You're doing good work Raj❤️
so happy to hear that
Podcast like this is really needed in India
Like about the student knowledge and Indian thinking about price and how to stables your business
glad it helped
What an amazing podcast ! Thank you for this Raj Shamani.
so happy to hear this
RAJ, bhaiya can u tell which book u r reading, which u told in podcast?
Please do podcast with adani, ambani, and tata any one of them
Please do podcast with elon musk, bill gate and jeff besos any one of them.
@@rohitsinghsharma5012 hum pod cast nahi karte raj bhai karte hai mei khud unko request kar reha hu
@@adityapandey4350adanu,ambani thoda aukat se bahar nahi ho gyaaa
@@Siddikkhan134 I don't think so agar Beerbicieps one plus ke co founder le saath kar sakta hai toh yeh raj shamani bhi kar sakta hai try karne mei kya jaata hai bhai after all we indians🇮🇳 jugaad toh hum sabke blood mei hai
@@adityapandey4350 bro dono main bohot difference hai billionaires mushkil se interview dete hai wo bhi bohot khas logo ko news channels ko
This podcast offered a novel insight, which is:
As technology continues to progress, those possessing its knowledge will hold significant influence. This is one of the reasons why cryptocurrencies have not been entirely embraced; despite being decentralized, their comprehension effectively centralizes them, particularly in countries like India.
Jo desh apne culture ko recognise nehi karta hai, vo desh samaye ke saath piche jata rehta hai. Before 2014 we know where India was been only Terr!ost attacks( 26/11 , so many bomb blasts happening no internal security at all ) , failed socialism, Communal riots and Minorities appeasement politics and many more things like this fortunately after 2014 as a citizen we recognise the value of our country. That is more important and I know india is doing great in coming years and Modi govt doing great work in Infrastructure development of India which helps our Country economy very much. 💯
Agree.
USA is rich because of their Road ( Infrastructure ).
Yes before 2014 we were living in caves, dressing with leaves and travelling on bullock carts.
I wished you would have focused on how India from a very poor condition in 1947 became such a great power. You could have mentioned how we became a nuclear power. How we helped the world in software /internet boom in late 90s. How our educated people "before 2014" are now ceos in MNCs. How our democracy, however flawed, was thriving even when our neighbours were having military coups every now and then. How millions of people came out of poverty since 1991.
But nahi. Wohi ghisipiti record bajao. Muslims ko gaali do minority appeasement bolke. Mumbai Bangalore (much liberal cities than north) ki train pakdo kaam ke liye aur khud ke state ko hindu muslim ki aag me phunk do.
@@ahmedmahadik yes I know from 1947 to 1991 we live in Nehruv!an Socialism where is everything is in govt control because of this India is near bankruptcy in 1991. everyone know previous govt only expert in Minority appeasement politics like Shah banoo case , not bringing Uniform civil code in India , Article 370 , Terriosm , many more. no one is gali but fact is fact. ✅
@@ahmedmahadik + corruption by previous govt like bofors scandal, Commonwealth Games scam , 2g scam, fodder scam Etc
@@siddhantsingh5753 every country has challenges. Isolated cases here and there should not change the course of a country's economy. USA has major racism issues too. How has shah bano case impacted your life and economic capabilities?
Infact demonetisation, faulty gst and covid mismanagement has broken the back of every Indian.
Many person told that indian education system isn't taught right thing but dark truth is that a single person didn't approach to education department.
Do u think they will listen..... Guru Maan has tried his best to convince govt to launch his fit India initiative free of cost no politician cared
@@alphaindian2847 effort matters . Inequality is problem of many countries. But now Modi think about developed country . So, this is very important for india
.
Just beautiful 😍
With reference to the comments made by the guest for D2C startups,y feeling is that they will eventually make money by taking their products in offline world. First they will create a brand like Mama Earth/Zivame/Sugar comestics through online channels & when they hit a certain brand value then they we will push it through offline channels. So the logic is that consumer business will be in losses for very long time in the online world.Theyvcan become profitable only when they become omnichannel
Please make another video with ritesh malik
Is really Pythagoras therom don't have any use ?
Pls check
Basic problem solved by it
let's teach for mystery and not for the test scores
I think most people fail in their lives because they don't get that opportunity to prove something to themselves only.
Last question karte karte 3-4 question puch liye 🤣🤣 but actually Aisa lag raha tha bus inko sunte hi rahe 😍
I think health,wealth relationships age matters the most. It changes with age
RANIA 53 is awesome bro. Robotics, automatic vehicles , nanotechnology, internet of things , machine learning, artificial intelligence, 5G and 3D printing
thankyou Raj bhai ❤️
so glad you liked it