Coutloot is a local language social commerce offline to online (O2O) platform which lets anyone sell online across the country directly to buyers who can simply bargain and shop online from the sellers.
Jasmeet Thind came up with the idea when he realized he didn't have any room left in his closet for his new clothes, which he didn't use but didn't want to throw away either. His larger-than-life personality is always a breath of fresh air, as you'll find out in this talk.
In this episode, you will learn:
- What is CoutLoot? How does it empower small sellers from its platform? What was the original business plan for Coutloot? Why did they decide to pivot? When is it essential to pivot a business model? How does one pivot a fast-growing startup? How COVID-19 impacted Coutloot's operations, and what are they doing to adapt to the pandemic?
- How did Jasmeet's Unilever experience help him in his founder journey? What is his recommendation for college graduates who want to get started with entrepreneurship right away?
- Jasmeet's experience pitching to his first set of investors. How did he stand out from the crowd? How does Jasmeet handle rejection from investors? What was his reason behind rejecting some investors?
- What did Jasmeet take from each set of investors that helped him build Coutloot to where it is today? How did he use that set of advice in his business? What is his advice to funders about fundraising?
- What is Jasmeet's advice for founders and budding professionals? Where does Jasmeet see Coutloot in the next 5 years?
- What was his experience raising money from Chinese VCs? How do they differ in their thoughts and approaches from other VCs? What is his takeaway from the Chinese startup culture?
Jasmeet's Book Recommendation:
Jugaad Innovation by Navi Radjou
Watch the episode: