Professional Documents
Culture Documents
3.Where is your venture based (city, state, country) & What are
your geographical target areas?
Though we launched in Mumbai, we have done our first few performances
in Delhi and Bengaluru as well. The goal is to start in Delhi and Bengaluru
shortly ... These 2 places have phenomenal potential and we are looking
at setting up and establishing a base in these 2 cities ... In early 2018, we
will look at 3 - 5 other cities in India. By that point of time, we would have
established a very good presence in Mumbai, Delhi and Bengaluru.
5.Share the idea or story behind the venture. How did it came to
an existence? What motivated you to start your own venture?
I have been with Shaan for 20 years now, and I have seen him host a lot of
reality shows, host them initially and then he moved on to judging them,
and there was exceptional talent that came on to these platforms. So any
reality show has a whole lot of rounds that go in, and you have over
hundred kids with exceptional talent coming in but finally there's one
winner. So the idea behind Happydemic was to actually help the other 99,
to bring their talent up, to not let them spiral down because they were as
popular as their last season. A lot of these kids leave their cities, their
villages and they come to Mumbai to pursue this dream of music, and like
we all know that the city of Mumbai is such an expensive city, they have
talent but nowhere to perform so the spirit of Happydemic came from
there, that we wanted to be that gust of wind beneath their
wings to help them get work and to connect their exceptional
talent with honourable audiences
7.How did you identify your co-founder? Tell us some thing about
your co-founder/s
Amar Pandit, Co-Founder & CFO of Happydemic is a respected
entrepreneur & leader with 20+ years of experience in IT & Financial
Services. He is the Author of 4 Personal Finance Books and Founder & CEO
of My Financial Advisor, the best private wealth management firm that
helps smart and informed choices about money.
He personally advises and coaches celebrities , doctors , senior corporate
executives and entrepreneurs on their personal finance matters. He is very
passionate about spreading financial literacy and does so through his
sharp and insightful columns published regularly in leading financial
dailies , publications and portals.
8.How did you hired your first team members? What skills Do you
want in your employees/team?
The skills I look for are ability to learn , openmindedness , their values
should match the companys vision and culture, autonomous (dont need
to be hand held ) and result oriented
9.What expansion plans are you looking for the next 2 years, next
5 years?
5 years from now I see Happydemic as a globally recognised brand. 5
years from now I know that every party will have live music as their
entertainment
Because we are going to bring it down to affordable prices. We also see
ourselves diverging into different performing arts and handling that too.
We see ourselves as one of the game changers in the live entertainment
space of the country.
Radhika sees Happydemic as a global brand who would have changed the
game of the live entertainment space of India in the next 5 years and sees
herself as a global entrepnreur in the next 10 years after having made a
positive impact in the music industry bu orgnaising it and having made
enough money for the externla and internal stakeholders.
12.Have you raised any funding? Or have any plans for the
funding?
Amar and I bootstrapped the business initially. Additionally, we were
blessed to have a couple of angel investors (who happened to be friends)
who believed in us and invested in Happydemic. We used our initial funds
very wisely to build our team (management , artist, product development
and execution), technology platform , marketing and sales. We got more
done for less by being very resourceful (such as creating an awesome
talent video for a fraction of the cost of what it would if done by a big
agency or by anyone). First 8 months we operated from MFA offices. We
then moved to our own office and have now built a team of 27 passionate
professionals. Though there were a couple of big VC firms that approached
us after our launch, we have consciously stayed away from taking in too
much capital. Additionally we focused on building customers and funding
through internal accruals. We are very fortunate to have signed up 30+
visionary corporates, 14+ restaurants ,many families and individuals.
13.What were the problems you faced during the starting days
and how did you resolve them?
One of the initial challenges was on the business model itself. We started
off as a talent discovery platform but realized that some level of discovery
was already happening through Bollywood movies, Reality shows and the
internet. Beyond the discovery, there was no consistent work for them
(How many of us remember the Winner of Indian Idol 2, 3, 4 and
onwards?) so we focused on solving this problem. We then thought of
monetization through original songs of independent musicians but quickly
realized that it would be a tall order for us at the start (or this phase of our
company) itself to get consumers to pay for downloads. So we focused on
what we new best creating live experiences through music.
We overcame the challenge by deeply thinking about our assumptions,
looking at the data and then making unbiased decisions based on what we
saw. At times, our teams had very intense discussions on the business
model itself but we stuck to do what was right for the firm in the long
term. We avoided getting into the rat race of raising capital and to show
the world that we had raised so much capital and that we had so many
artists without actually building a robust business model. Instead we chose
to focus on building a real business and perfecting our business model.
14.What was the most challenging part of your journey till now?
How did you overcome those challenges?
The toughest challenge Ive faced as a woman entrepreneur was in
maintaining a balance between home and work. I have been fortunate
enough not to have major hurdles where running a business is concerned,
because Ive been from a business background, I know how a business
works. Even staying at home and running the house was also equally
tough because Shaan was travelling, I have two kids, I have a mother-in-
law, and there was a whole balance between Shaans hectic schedule and
house schedule. But I think the toughest thing that Ive probably ever
faced is a dilemma within me, whether Im doing enough for home or
enough for office. But I think that will constantly happen and I will have to
constantly learn to face it. Ive had tremendous meltdowns in the past, but
Ive learned. Shaans goodwill actually made it so much easier; hes
actually made a blueprint for Happydemics success. Topped with Amars
support where the numbers are concerned, hes been in the financial
stream for over 15 years himself. Weve got a foot in the door rather
easily than most other companies have and I cant deny that.
20.If you had the chance to start your career over again, what
would you do differently?
Actually Ive just started my career, so I wouldn't want it to be any
different. I sat at home for 14 years taking care of my kids. finally I
stepped out 2 years back. I'm at the beginning of my career and I don't
think I would want to change that or do anything about it differently.
Whatever mistakes I've made, I've not only owned them but I've learnt to
move up and forward from them.
24.What is your USP which makes it unique & different from other
start-ups in similar domains.
Our USP is our ability to build and deliver creative solutions and
experiences for Corporates and Families/Individuals. We have done an
internal talent show for a MNC across India (at a fraction of the cost and
with absolute high quality). We have delivered high quality Jingles in just 2
days. Team Happydemic is the right blend of following skills (creative +
business + execution) and we are fortunate to have such passionate team
members on board who have developed superb Products and IPs.
Additionally, we already have a bank of 800+ Songs that we could use for
fresh content and so on.
25. What do you think is the biggest threat to the success of small
businesses & Start-ups today?
The biggest problem would be cash borrowing and resource management.
Like they say Cash is King and a healthy profit may look good on your
financial statement but if your capital expenditure or receivable collections
are draining on your cash you won't be able to sustain in the business for
long.
One of the initial challenges they faced was with the business model. They
started as a talent discovery platform but realized that many parts of the
industry already cater to that need and hence decided to adopt a blue
ocean strategy by focusing on the harnessing the talent and providing
them with an audience which is a step forward in the chain.
Radhika sees Happydemic as a global brand that would have changed the
game of the live entertainment space of India in the next 5 years and sees
herself as a global entrepreneur after having made a positive impact in the
music industry by organizing it and having made enough money for the
external and internal stakeholders, in the next 10 years.