4.6 • 683 Ratings
🗓️ 15 February 2019
⏱️ 18 minutes
🧾️ Download transcript
Lalit is an enterprise mobility veteran with 17 years of experience building over 150 products. He invented hybrid mobile programming and has a patent in visual merchandising using image recognition. His 6+ years of sales force automation experience with FMCG market leaders has resulted in Bizom being at the forefront of digital sales transformation in India, helping over 250 enterprises achieve data driven transformation via automation and analytics!
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0:00.0 | formal education sometimes does not have value in real life. |
0:03.4 | Launch business on back in 2012 and got one of his friends to basically give him seed money, |
0:08.1 | but it was non-deluded because it was a customer paying. |
0:10.1 | That's the best kind of money, I think, right? |
0:11.5 | So 10K upfront to get going now that every team 150 people in India, again, helping retailers |
0:16.8 | like Coca-Cola help their salespeople basically go in, get accounts, land accounts, expand |
0:22.1 | accounts, and drive product adoption for whatever products they're working with. Again, |
0:25.8 | mainly in India, healthy growth, doing about, call it 80% year-over-year growth or 8% month-over-month |
0:31.3 | growth. They're doing about 600 grand today per month in revenue. That's up from 350 grand, |
0:35.9 | just a year ago in July of 2017. They've got |
0:38.5 | 307 customers that pay an average of 2K per month for the product. Churn is super, super low. |
0:44.3 | Annual expansion on accounts is over 140, 150%. We'll only be spent up to 120 grand to acquire |
0:49.7 | 10K and new MR. So healthy economics, 4 million raised burned about 200 grand last year. |
0:56.2 | This is the top entrepreneurs podcast where founders share how they started their companies and got |
1:03.0 | filthy rich or crash and burn. Each episode features revenue numbers, customer counts, and other insider information that creates business news headlines. |
1:16.6 | We went from a couple hundred thousand dollars to $2.7 million. |
1:19.6 | They had no money when I started the company. |
1:21.6 | It was $160 million, which is the size of any IPOs. |
1:25.6 | We're a bit strapped. |
1:26.6 | We have like 22,000 customers. |
1:30.5 | With over 5 million downloads in a very short amount of time, major outlets like Inc are calling |
1:36.5 | us the fastest growing business show on iTunes. |
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