[TechSparks 2020] From product to profit: 40 insightful quotes on the business of startups

Launched in 2014, StoryBites is a weekly feature from YourStory, featuring notable quotable quotes in our recent articles. Share these gems and insights from the TechSparks 2020 speakers with your colleagues and networks, and check back to the original articles for more insights.

In Part III of our special collection of quotes from YourStory’s TechSparks 2020 coverage, we present insights on the world of opportunity for Indian entrepreneurs (see Part II here). Check out our earlier quotes compilations from conference editions in 2019, 2018, 2017, 2016, 2015, and 2014.

See also our compilation of quotes from the top Tech30 startup founders of 2020, and profiles of the Tech30 startups over the years: 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, and 2011.

The product has to be the hero. If you don’t get your product right, don’t even think of building a brand. Don’t waste money. - PC Musthafa, ID Fresh Foods

Building a product at scale is to solve for simplicity for the customer. - Abhinav Asthana, Postman

To have a product mindset, you have to embrace uncertainty. You can never plan a perfect product. Rigid ideas do not work. You have to be flexible and agile. - Sridhar Vembu, Zoho Corp

The best way to measure the product-market fit is to look at the organic demand for the product and keep marketing efforts out of the picture. - Amit Somani, Prime Venture Partners

Focus on repeat, focus on a great experience, but then make sure you are set up to scale. - Sameer Nigam, PhonePe

Try to figure out if there are 100 of 200 customers who love you versus a million that only like you. - Anu Hariharan, Y Combinator

You need to be on your toes, you need to respond to customers and build customer trust in the best possible way otherwise your brand will not stand the test of time. - Chaitanya Ramalingegowda, Wakefit

Whether at an alpha stage or beta stage, companies must start building their brand from Day One. - Yulia Aslamova, MakeSuccess

Moving from one curve of acceleration to another is tough. Nobody can do that perfectly. - Shailendra Singh, Sequoia Capital

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Airline is a business with an anonymous shopper. We don't know who is coming, but each has a different requirement and propensity to pay, different backgrounds, and reasons to travel. - Mahesh Shastry, FlyNava Technologies

A large segment of the population still depends on public transport - now there is a risk of transmission, so the need for safe mobility becomes important, and two-wheelers offer that. - Vivekananda HR, Bounce

People are extremely conscious about using four-wheelers; they’ve moved to bike sharing and hailing. - Kartik Misra of Dunzo

The whole notion of a vehicle is becoming more modern with digital technology. It is becoming a vehicle that knows you, is a smart vehicle, is your companion, keeps you much safer than before, and is more efficient and cleaner. - Bhavish Aggarwal, Ola

Post-COVID-19, everything went for a toss. The real estate market collapsed. But that collapse created opportunities for investors who were sitting on the fences, looking for deals of their lifetimes. - Tanuj Shori, Square Yards

There is a dire need to drive consumer activity and engagement towards SMBs. - Sapna Chadha, Google India

There is a need for SMBs to go online. - Archana Vohra, Facebook India

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People will now start considering mental health as an ailment which needs treatment. - Sarbvir Singh, PolicyBazaar

Even during the first three months of lockdown, we saw sectors like education, healthcare, gaming, and entertainment showing a positive impact. - Karan Mohla, Executive Director, Chiratae Ventures

In healthcare, there are three dimensions to any service: access, cost, and quality. What we have seen in teleconsultation is the tip of the iceberg. - Shashank ND, Practo

Earlier, digital healthcare was considered a convenience play. With COVID-19, it has moved to the mainstream play. - Prashant Tandon, 1 MG

Data says that 50 percent of COVID-19 deaths can be avoided if the patients are provided with non-invasive ventilation in time. . - Nitesh Kumar Jangir, Coeo Labs

Two types of business models will evolve in the edtech space — one who will launch platforms for students to get access to study materials online and platforms for the teachers to come online. - Byju Raveendran

Learning coding at an early stage is not about becoming a coder. It’s about bringing out creativity in the children. - Byju Raveendran

Graphene and carbon nanomaterials are the future for a greener planet. - Venkat Ramana, Nanospan Technology

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The use of the internet as a productivity tool has been seen throughout the pandemic. - Mukul Rustagi, Classplus

In spite of the downturn, the telecom and IT sector registered a 7.1 percent growth even during these challenging times. - IT Minister Ravi Shankar Prasad

In the future, everybody needs to understand about ML, big data, and the kind of benefits they bring to the table. - Mohamed El Geish, Cisco

The transition from 4G to 5G is really about very high throughput and low latency communication. - Varsha Tagare, Qualcomm Ventures

Voice is emerging as the preferred way for people to use Search and browse YouTube. - Caesar Sengupta, Google

A year on social media is pretty much like three years in any domain because people put you on a pedestal and pull you off fast. - Ranveer Allahbadia, BeerBiceps

AR is the next video. - Snehal Dhruve, Superfan Studio

OTT is democratising talent. - Ashish Hemrajani, BookMyShow

Democratisation to capital is the key to tomorrow and that’s what crowdfunding does. - Kunal Kapoor, Ketto.org

Make sure you devote enough time and resources to create a robust financial processes. It is about being future proof. - Siddharth Rungta, HSBC India

There has been a definite change in consumer behaviour. People have adopted and started using technology as a more intrinsic part of their lives. - Anirudh Singh, Falcon Edge Capital

Given the context around us right now, consumers have never been more hungry or open to change. This has been driven by economic necessity and changes in our lives. - Puneet Chandok, Amazon Internet Services

Don’t squeeze the vendor for some temporary benefit in times of crisis. - Vivek Gupta, Licious

Founders who understand finance and deploy capital sensibly are the ones who will remain profitable. - Sanjay Mehta, 100x.VC

Using a multi-stacked model seems like the way to assure progress when it comes to tapping rural markets. - Madan Padaki, 1Bridge

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When you don’t have a lot, you’re forced to be creative. - Anand Sanwal, CB Insights

When you’re doing something new and there’s no playbook, you can only do it by making multiple mistakes. - Byju Raveendran

Time is the biggest commodity we have. If we don’t utilise this time properly we are not utilising our highest potential. - Daaji

We have to realise that science-focused innovation or scientific frontier innovation is as important, and we need famous VCs to also look at it. - Shailesh Jha, Sun Group

You've to shamelessly pursue a goal and not worry about what the others are saying. - Gaurav Munjal, Unacademy

YourStory has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).