Kim-Adele and Nat Schooler discussed VCs/ Startups/ Angel Investing and overcoming life’s roadblocks to achieve success in business with Tushar Kansal – Founder/ CEO of Kansaltancy Ventures.
- Why you should listen to this interview with Tushar Kansal?
- Tushar Kansal tells the story of a young man who became the CEO of an aviation academy, despite being very young and unknown
- Tushar Kansal founder CEO at Kansaltancy Ventures believes that you should recruit for will and train for skill
- According to Tushar many startups who get early-stage financing don’t get follow on financing
- Getting funding is no longer a sure recipe to success
- Getting a good education and a good job is no longer a sure thing
- Up-skilling and cross-skilling yourself is important for living in an uncertain world
- Continued learning is key to ability
- Managing money is a challenge, even for the best fund managers and investment management professionals
- How to get into the right mindset
Why you should listen to this interview with Tushar Kansal?
Tushar Kansal is a Mentor and Judge at the Entrepreneurship cell’s of IIT-Mumbai, IIT-Delhi, IIT-Chennai, ISM-Dhanbad & such marquee Institutions. Tushar has expertise in Financial & Business Advisory, Fundraising & creation of docs/ collaterals for VC Funding. Tushar is a Venture Advisor with Loyal VC, the INSEAD-led Canadian VC Fund, having a core portfolio of over 160 investments in more than 35 countries. He is also a Partner with GSD Venture Studios, a Silicon Valley-based Venture builder. You can read more about Tushar below the show notes.
This is a very interesting interview and one to not be missed.
Tushar Kansal tells the story of a young man who became the CEO of an aviation academy, despite being very young and unknown
- He needed government clearances for his academy but was unable to get them as he did not know anyone in high places.
- The young man refused to give up though, and eventually got what he wanted through hard work and determination.
Tushar Kansal founder CEO at Kansaltancy Ventures believes that you should recruit for will and train for skill
- Passion and enthusiasm are important qualities to look for when investing in someone.
- Skills can be learned, but a person’s motivation is harder to change.
- The founder should be looked at first, as the business is very volatile.
- In today’s times, a person needs to have a certain skillset beyond technical knowledge to survive.
- This skill set is to hunt for opportunities all the time and without assuming anything.
- Prices of commodities move up and down, with some commodities experiencing cyclical rises and falls.
- Businesses need to plan carefully when prices are changing frequently.
According to Tushar many startups who get early-stage financing don’t get follow on financing
- So, knowing what to do is key in order to survive in today’s economy – those who planned better, managed costs, and didn’t recruit without thinking all fared better.
- Senior management positions are difficult to maintain in a startup due to the many headwinds they face on a daily basis.
- 90-92% of startups who receive early-stage financing do not secure follow on financing.
Getting funding is no longer a sure recipe to success
Even after getting funded and being on the television, in newspapers and in other media; it is no longer enough to maintain success – you may have to pivot to a new business model or close the company.
- The current state of the world is one of great uncertainty, with both the Lehman crisis and COVID having significant impacts on businesses around the globe.
- However, these challenges do not change the fact that technology and venture capital continue to march forward at an impressive pace.
Just why learning The Formula For Successful Investor Relations, Ethics, Values & Responsibility (CSR) is also key.
Getting a good education and a good job is no longer a sure thing
Families in India traditionally tell their children to get a good education and join a good job with security, but this is no longer feasible in today’s uncertain times.
Up-skilling and cross-skilling yourself is important for living in an uncertain world
Parents should advise their children to be ready for an unpredictable future.
- Knowledge is easy to find for cheap or even free
- The good part about the times we are living in is that knowledge is free.
- You have Google on your side
- So whatever you studied till now, or will study in future, it’s all available online for cheap.
Continued learning is key to ability
- Upskill and cross skill yourself in order to keep up with technology
- Finance or technology are two viable career paths
- Technology changes rapidly, so be prepared to continue learning
Managing money is a challenge, even for the best fund managers and investment management professionals
- Markets are unpredictable and no one is perfect
- Managing money requires spiritual and mental strength in addition to technical skills
How to get into the right mindset
- Tushar shuts himself off from screens and observes his mind
- The mind is like a monkey, always jumping around to different thoughts
- To unwind, he also avoids music and multimedia
- Tushar observes that the more experienced you become about your mind, the better you can handle it
- The mind cannot be turned off, but meditation and reading spiritual literature every day to help manage it
- Tushar also recommends keeping away from people for at least half an hour each day
- Switching off the phone and being present allows us to find peace and quiet
Tushar believes that it is important to find time to focus, as we are easily distracted. He believes that we can think of a million reasons why we can’t focus, but actually switching off the phone and being present can help us to focus.
Tushar also suggests finding peace and stillness in nature through walking, sitting and watching. He believes that this can help us feel more connected to the natural world, as opposed to the digital one.
He also tells us about some of the startups he is most passionate about
Indian startups have created innovative ways to help people in India. One startup has created a robot that performs manual scavenging and is 90% cheaper than other robots on the market. Another startup has created a way to execute banking transactions on feature phones without the use of the internet.
One company is focused on providing healthcare services to young mothers, employing women from economically weaker sections of society, and one is a technology company with a 19-year-old CEO.
These companies are doing good work and deserve to be recognised.
It’s great to see that innovation and to see it at such a young age, that he’s not going to let the world stop him. He’s got an idea and he’s out there willing to get it.
We also discussed the hurdles that keep people away from starting an entrepreneurial career
This can be found in the audio above or the video below.
What does Kansaltancy Ventures do?
The company provides documentation services such as creating a pitch deck, doing the valuation of the company, making a business plan, and helping with the term sheet negotiation and due diligence process. The company also helps with the finalization of the shareholder’s agreement.
How do founders and new entrepreneurs get in touch with you? How do they reach you?
View his talks on the Funding world and list of 40+ Client recommendations at – https://www.linkedin.com/in/tusharkan…
More about Tushar Kansal
Founder/ CEO at Kansaltancy Ventures – Tushar is an accomplished professional with experience spanning multiple sectors from Venture Capital (Brand Cap), Big 4 Consulting (Deloitte & Touche), LSE-listed Sistema’s India unit (MTS India) to CFO of Guggenheim Partners-owned company (DLI).
Over the years, Tushar has arranged Funding for startups & growth-stage companies in diverse sectors like EdTech, FinTech, Consumer B2C, B2B & D2C, AgriTech, Disruptive & DeepTech as well as non-Tech sectors (Please see his Recommendations on LinkedIn). His expert opinion is often sought by leading business news channels and publications like CNN-News18, VCTV, Business World, Business & Economy, Qrius and Digital Market Asia. He has come on 100+ talks – Just check on YouTube, VCTV streaming site https://latoken.com/vctv/investor/1040 & Kansaltancy.com!
He received Executive education from Harvard Business School, MBA in Finance from the University of Delhi and B.Tech from The Technological Institute of Textile & Sciences If you would like to be a part of the global Venture Capital movement, be an entrepreneur, or learn investing as a life skill. Kansaltancy is there to help you in all ways possible.
Do reach out to Tushar here: https://www.linkedin.com/in/tusharkan
LinkedIn Kansaltancy Ventures here: https://www.linkedin.com/company/kansaltancyventures/
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