Ashneer Grover on making the right business pitch

Brut India

"Most important part is that a founder should have guts."  Ashneer Grover, the embattled co-founder of BharatPe and popular "shark" from Shark Tank, was speaking to podcaster Raj Shamani.

Transcript

00:00The most important thing is that

00:02the founder should have the guts.

00:03Aman is saying that I am pitching to you and Aman as well.

00:07If Aman says yes, I will say no to you.

00:09If you say yes, I will say no to him.

00:11I knew Anupam from before.

00:12I tried to take money from Anupam once from Bharatpay.

00:19Don't you feel that people who don't drink,

00:21that if you don't drink,

00:22then you miss out and your networking opportunities end.

00:25Once it happens, if you don't get addicted, you don't get addicted.

00:28Then it doesn't matter what's happening around you, right?

00:31Go to a lot of parties and people think that you are not standing with a glass.

00:37So sometimes people say, drink socially, drink wine.

00:41There is no alcohol in this.

00:42This is like coke.

00:44But if you don't want to drink, then don't drink.

00:47And I don't feel awkward at all.

00:49So you don't feel that you missed out on networking opportunities

00:51and couldn't network with anyone.

00:52Yeah, this time you do house parties, friends.

00:55You come to my house, I will give you as much as you want to drink.

00:59So it's not that I have a moral view to drinking.

01:03It's just that I don't drink, right?

01:04As simple as that.

01:05The most important thing is that the founder needs courage.

01:09And how do you decide the courage of the founder?

01:12What are the identifiers like this?

01:13You can tell the courage of the founder by talking to him.

01:16It's like, the one who has to do something,

01:20he has conviction in his voice.

01:23Okay?

01:24He doesn't have all the answers.

01:27So even when he says no,

01:28I don't have the answer to this.

01:30So there is no apology in that.

01:33There is introspection in that.

01:35That brother, I don't have the answer to this.

01:37But I will have to find it.

01:40Okay?

01:41So for me, the honesty of a founder,

01:48that yes, I know this, I don't know this,

01:50but I will figure it out.

01:52And the passion that I have to make this.

01:55That is very important for me.

01:57That comes from conversation.

01:58It doesn't come from Zoom.

02:00Okay?

02:01I will have to sit in front.

02:02Okay?

02:03I will have to understand body language.

02:04Will he be able to do it or not?

02:08Is it for the long haul or is it just fashion?

02:12I have to become a founder, so I have to do this in fashion.

02:16So I can hear from the inside,

02:17yes, I have to do it or not.

02:20Where you don't have to put effort,

02:21normally you can hear within 10 minutes.

02:24Where you have to put effort,

02:26sometimes it takes 2 hours.

02:27Normally, when someone comes to pitch to you,

02:29he needs money from you.

02:30That is a given equation.

02:32Okay?

02:33Here, there was an added dynamic that

02:36he is pitching, I understand it,

02:39I have to put money in it.

02:41But will he take it from me or not?

02:42Because the other person will also give an offer.

02:45So that was an added dynamic, which was fun.

02:48It is not fun in normal pitches.

02:49I think, okay, you came to ask for money from me,

02:51I said yes or no, now you will take a cheque from me.

02:54But it is not that Aman is saying,

02:57no, I am pitching to you, I am also hitting Aman.

02:59If Aman says yes, then I will say no to you.

03:01If you say yes, then I will say no to him.

03:02So there is a competitiveness between the sharks.

03:07That is the added element here.

03:08Which does not happen in normal life.

03:11But I have never seen a shark tank properly.

03:13I have never seen it.

03:14In fact, the show runner, the director,

03:20when he came and he shortlisted me,

03:24he used to send me links saying,

03:28see this, see this.

03:29I have not clicked till date.

03:31I was like, see, I am not going to shark tank

03:36to be an Indian version of an American shark.

03:41I knew Anupam from before.

03:42I tried to take money from Anupam once from India.

03:46Finally, I got the money from abroad.

03:50So I did not take it from Anupam.

03:51But because I knew him since then.

03:54I mean, I pitched him to Anupam.

03:57Not once, but twice.

03:59So I knew that either I know of them or I know them.

04:05And it might be a good set of people to sit with.

04:08Because they have built significant businesses.

04:11And everyone seems to be a different personality.

04:16So then I said, okay, let's do it.

04:19I, in fact, for two dates,

04:23Aman and I both were not there for very different reasons.

04:26I had to go to Dubai for the World Cup,

04:28for the World Cup finals.

04:30It was Aman's daughter's birthday.

04:32So we were absent at the same time.

04:34But interestingly, the week I was absent at the shark tank,

04:37everyone cried that I should bring them to the office.

04:39Will anyone listen if there is logic?

04:42Right?

04:43And there will be a straightforwardness.

04:45That I keep telling you,

04:47yes, it's a very good business.

04:49But I can't invest.

04:51Then the other person will say,

04:52then why did you think it was a good business?

04:54Either you say it's a bad business.

04:56Or if you're saying it's good, then invest the money.

04:59So I don't have that diplomacy,

05:01that it's a very good business, but I'm out.

05:03I don't understand that.

05:05Contradict yourself.

05:07I mean, don't say it's good.

05:09Say no, it's a bad business.

05:10I don't understand, I'm not investing.

05:11Then the person will think, okay, he's talking straight.

05:14And what's the second reason?

05:16I've pitched to many investors.

05:19I mean, I've heard so many no's,

05:21that there's no limit.

05:23And one thing I really liked about investors,

05:26there are very few investors

05:28who actually say no to you.

05:30No, I am not interested.

05:33People will say, yes, let's see in the next round.

05:36You keep sending me this metric.

05:39Brother, why should I send you the metric?

05:42I mean, tell me the end game.

05:45That either you'll invest or not.

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