Navigating the Startup Journey as a Tech Entrepreneur: Learnings and experiences

Quick intro about me

• Hey folks, this is Mohit, and I have co-founded Phyllo (A Dev Tool Silicon Valley Series A funded company). At Phyllo, we are building a gateway to access creators’ data. I’m a big fan of technology. A tech nerd and love working on products that create an impact and have the potential to disrupt the system.

• Passionate about building & scaling successful software companies. With a background in computer science, I have gained a deep understanding of solving complex & real-time problems via technology.

• Built and led Phyllo engineering from 0 to 1 journey. Started with the idea conception to the production-ready stage with 100s of live customers.

• Contributed to running the company and achieved seed + Series A funding within two years.

• Invest in startups and help them in my free time.

My Journey as a Startup Founder

• Starting a business is not for the faint of heart, but for me, it was a dream come true. From a young age, I was fascinated by creating something from nothing and building a successful company. I knew I wanted to be a startup founder, but I needed to figure out how to turn my dream into reality.

• Post graduation, I joined Samsung Research Labs. I kept experimenting with technology and domains in my software engineering journey. I learned what it takes to build a system from scratch, whether it’s technology or the kind of talent/attitude you need to achieve this.

• I have worked with various startups & MNCs during my 10 year engineering journey to learn about the working style required at different stages of a company. When Covid struck, and the world was changing, I finally decided to start my own.

• My college friend Akhil and I started Phyllo in early 2021.

• I have been an awkward nerd my whole life; I enjoy solving complex problems, which is my strength. So I took the responsibility of engineering. Akhil being a good storyteller, took responsibility for the product & fundraising.

• Founders need to have a complementary skillset, and this proved critical in fundraising.

Journey of Phyllo

• Akhil & I quit our well-paying jobs and started working full-time on our idea in Jan 2021. We prototyped our first MVP in May 2021 and launched a pilot with an e-commerce giant. We were lucky enough to get a connect there and participated in a hackathaon.

• It was essential to create the investment deck right with good illustrations. Our first hire has been a design intern, which proved to be a game-changer.

• I knew we needed a strong engineer to support me in building a MVP. So I scouted my network and got a passionate engineer who shared the vision with us.

• Interestingly, we were yet to establish the company formally but we got two strong brains working full-time with us and our strong network helped us in getting them.

• Our seed round of 2.75 m was led by Nexus Venture Partners. Post the termsheet, we officially formulated the company in Delaware.

• We have been lucky enough to get good investors onboard and our series A round 15 m has been led by RTP Global.

• We are a remote first organization and 70+ strong member team.

• 50+ paying customers.

• Our system clocks 1m+ API calls daily.

• We have 200K connected creator accounts.

  Startups have always been hard. Even when you think you are putting in your best, it may not be enough to pull it off. I have seen many ups and downs in this journey which I would like to share with the community.

Top 10 things to do if you are a tech entrepreneur

1. Connect with good Mentors & Advisors: One of my first lessons was the importance of surrounding myself with experienced mentors and advisors. They provided valuable guidance and helped me navigate the complex world of startup fundraising and product development. I also attended networking events and startup conferences to connect with other entrepreneurs and potential investors. These experiences helped me to understand the industry and the ecosystem better. Vivek Shah has been our great advisor, and we have been grateful for his advice.

2. Build a solid initial core team: As the saying goes, “Your network is your net worth.”. The initial 20 hires have been from our Network. I have learned the importance of having a solid and dedicated team. As the founder, you may have all the ideas, but it’s your team that will execute them. As the famous entrepreneur Mark Cuban said, “It’s not about ideas. It’s about making ideas happen”. Surrounding yourself with a team of talented and dedicated individuals will help you achieve your goals and take your company to the next level.

3. Customer is the King: As a startup founder, it’s essential to understand your customers deeply. Knowing their needs and wants will help you create a product they love and use. As the famous entrepreneur Peter Thiel said, “The most dangerous thing is to think you have already won.” Always be curious and open to learning about your customers, as their needs may change over time. Also, one crucial thing to consider is knowing where to draw a line. Henry Ford said, “If I had asked people what they wanted, they would have said faster horses.”

4. Be adaptable & flexible: Work on every aspect of product building during the initial journey. You will have to work as an engineer, write code, perform the duties of a team lead, build the team, set the right culture, and wear the hat of a Product manager.

5. Hire a good Technical Recruiter: Post building the core team, get an excellent technical recruiter who can pitch & sell your vision and get good folks. This way, you can optimize your time and focus on other core things. Many startups don’t hire a recruiter, but I share what has worked best for us.

6. Clear Communication: One of the most important lessons I learned is that it’s essential to have a clear vision for your company. Steve Jobs said, “If you are working on something exciting that you really care about, you don’t have to be pushed. The vision pulls you.” Having a clear vision for your company gives you direction and purpose and will help you stay motivated when times get tough.

7. Upskill, Upskill & Upskill: Tech entrepreneurs from coding backgrounds struggle a lot while starting up, and that’s ok. Even I have faced struggles and still do. A typical engineering mindset is all about solving a problem. And this requires a focused attitude which prevents them from working with folks outside the non-tech context. But as you build the company, you must also learn the non-tech aspects. Storytelling and public speaking are essential for any founder.

8. Read Books on various topics and sharpen your storytelling art: I recommend few books to everyone.

   • Start With WHY
   • Zero to One
   • Blitzscaling
   • Innovators Dilemma

9. Build a Network: I have learned the importance of building a solid network. It includes building relationships with potential customers, partners, and investors. These relationships can provide valuable insights, resources, and support as the company grows and evolves.

10. Avoid outsourcing to technology vendors: Be very careful what you want to outsource and what you don’t. I have outsourced frontend-specific tasks during the initial stages, but I have always kept the core infra and backend in-house.

Additionally, I have learned the importance of being persistent. Starting a company is a long and challenging journey, and there will be many times when it feels like giving up is the easiest option.

“Success is not final, failure is not fatal: it is the courage to continue that counts.”

As I look back on my journey as a tech entrepreneur and startup founder, I’m reminded of the words of the entrepreneur, Richard Branson, who said, “If somebody offers you an amazing opportunity but you are not sure you can do it, say yes — then learn how to do it later.” I’ve learned that taking risks and embracing new opportunities can lead to great things. We are still working hard to make our startup a success. We have faced many challenges along the way, but we have also had many successes. We have learned a lot and grown as a company, and we are excited about the future.

I can write a book on my experiences 😬 but I have kept this article crisp and short. If you need any other input or want to dive deep into any topic, feel free to reach out on my LinkedIn or drop me an email at mohitkmr07@gmail.com.

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