StartupTalky

Tag: entrepreneur habits

  • Phanindra Sama Success Story – The Journey of RedBus

    Travelling is a basic necessity for all of us today. Everyone, from children to the elderly, travel places every day. The objective is distinct from the desire for fulfilment. There are a variety of types of transportation available, including planes and vehicles. However, for many people, the bus is still the most common mode of transportation.

    Booking tickets provides passengers with a unique experience because it is a simple and effective way to purchase a ticket. Bus ticket bookings have increased in tandem with railway and aircraft ticket purchases. There are already a lot of companies that offer online bus ticket booking.

    RedBus, on the other hand, was the first and is currently one of the most popular bus ticket purchasing platforms. Redbus was founded by Phanindra Sama, Chandran Padmarauju, and Sudhakar Pasupunuri. These engineers were from the Birla Institute of Technology and Science. In this article, learn more about Phanindra Sama.

    Phanindra Sama Biography

    Name Phanindra Sama
    Date of Birth 15th August 1980
    Hometown State Andhra Pradesh
    Occupation Entrepreneur, Angel Investor, Advisor
    Founded RedBus.in, Pilani Soft Labs Pvt Ltd.

    About Phanindra Sama
    Phanindra Sama – Education
    Phanindra Sama – The RedBus Journey
    Phanindra Sama – Personal Life
    Phanindra Sama – Investments
    Phanindra Sama – FAQ

    About Phanindra Sama

    Phanindra Sama is a famous name that wasn’t well-known but is recognised in South India as a young Web entrepreneur. Every kid should be inspired by his journey. His experience as a web entrepreneur is unparalleled. He was an average employee ten years ago, but an idea born out of difficulty has set him apart from the group.

    Phanindra Samma was born in the small village Tadapaikal of Nizamabad district in India. He lost his dad at an age where he could not understand why things were happening. This is the major incident in Phanindra that shook his childhood.

    Phanindra Sama – Education

    For his 10th and +2 years, Phanindra relocated to his Uncle’s residence in Hyderabad. He was an exceptional student in his academics. He received an average of 80% in SSC and 97 percent in Intermediate. He was accepted into BITS PILNI in the Electronics Engineering track based on his Intermediate grades.

    In BITS, he has had to deal with a lot of problems. He exhibited leadership characteristics, and as a result, he was named team leader of the photography club at BITS University. At the time, his classmates and fellow students were awestruck by his extraordinary leadership abilities.

    He has attended Stanford University for the Field Of Study Economics, Social Psychology in 2016 in Kings College London. He also went to the Swedish Institute for Field Of Study Responsible Leadership and Sustainable Business Practices. He got a Chevening Standard Chartered Financial Services Fellowship from King’s College London.

    Phanindra Sama – The RedBus Journey

    In 2005-06, Phanindra Sama used to travel by bus very frequently. He wanted to travel to his family but He was late for a bus one day when the idea for RedBus came to him. He discovered a solution to the problem, and as a consequence, Redbus was formed.

    Phanindra Sama considers himself an entrepreneur by chance. He began his career as a Design Engineer at ST Microelectronics, and two years later, he transferred to Texas Instruments as a Senior Design Engineer.

    From his unfortunate experience of missing a bus one day while working at Texas Instruments, he saw the need for an online bus ticket-buying platform. Soon after, he began putting his plans into action, founding India’s most popular and extensive online bus ticket-buying platform, RedBus, and working as the Chief Executing Officer of his own firm (CEO).

    Phanindra Sama founded RedBus with his two friends Charan Padmaraju and Sudhakar Pasupunur in 2006. They failed to raise any funds at the start but later Venture capitalists started approaching them. They received their first seed funding from the ‘Seed Fund’ and built the company and scaled it to huge heights. The company was at the peak of its success when the Ibibo group acquired Redbus.

    Following that, Phanindra Sama left the firm. He was employed as Chief Innovation Officer with the Government of Telangana. Sama is now an advisor at West Bridge Capital. He is also an angel investor, investing in tiny businesses that he believes in.

    Phanindra Sama’s net worth is estimated to be over $12 million, according to reports.

    Phanindra Sama – Investments

    Date Organization Name Funding Round Money Raised
    Oct 27, 2021 Stoa School Seed Round ₹110M
    Jul 19, 2021 Eka Care Seed Round $4.5M
    Nov 27, 2020 Kagaaz Scanner Seed Round 575k
    Oct 13, 2020 Tread Pre-Seed Round $1.1M
    Oct 1, 2020 QuestBook Pre-Seed Round $625k
    Mar 8, 2020 AirMeet Seed Round $3M
    Jan 8, 2020 RheoTV Seed Round $2M
    Jul 15, 2019 Jiny.io Seed Round $725k
    Mar 21, 2018 OpenTalk Seed Round –
    Feb 13, 2017 Flyle Seed Round $400k

    Phanindra Sama – Personal Life

    Having a love life while attempting to create a business, Phanindra Sama confesses, is quite challenging. When Phanindra Sama was busy aggregating bus services all the time, he didn’t have time for dating. Phanindra Sama’s interactions were mostly limited to his stakeholders, and he didn’t have a girlfriend.

    Phanindra Sama did an arranged marriage. The date of Phanindra Sama’s wedding was determined by his parents, and the identity of Phanindra Sama’s wife has not been revealed to the public.

    The wife of Phanindra Sama is a very quiet woman who very occasionally attends events with his husband. She is kind of a life at home mother who is concerned for her children and their growth. Phanindra Sama stated unequivocally that he sold his firm for a variety of reasons, one of which was to give his daughter and his wife more time.

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    Conclusion

    Phanindra Sama built a thriving business and transformed the bus ticket booking system in our country. Phanindra Sama has now continued to fund new startups, as an angel investor. The nicest part about his newly created site is that he did not start it as a business. He merely intended to find a solution and assist everyone who was experiencing the same difficulties he had.

    For a few years, Phanindra and his wonderful pals worked really hard because their efforts were not recognised by others who had worked in the tourism sector for many years. Nothing, however, could persuade Phanindra to abandon his plan, and this is what contributed to his triumph.

    Phanindra Sama – FAQ

    Who is Phanindra Sama?

    Phanindra Sama is an entrepreneur and the founder and former CEO of RedBus.in & Pilani Soft Labs Pvt Ltd.

    What is the net worth of Phanindra Sama?

    Phanindra Sama’s net worth is estimated to be over $12 million, according to reports.

  • 10 Must-Have Skills to Succed as an Entrepreneur

    There are some sets of skills that every entrepreneur should have like leadership, managing and entrepreneurship skills. It is considered as one of the major factors of production. An entrepreneur’s ability is gauged by how well they make decisions, creativity and how well they are good in the management of risks and resources. If you are an entrepreneur and you are not sure about what it takes to boom your business, here are some must have skills for every entrepreneur.

    Skills For Every Entrepreneur
    FAQ’s
    Conclusion

    Skills For Every Entrepreneur

    Skills For Every Entrepreneur

    These are some of the necessary skills an aspiring or a-would-be entrepreneur should possess in order to succeed as an Entrepreneur.

    1. Ability to Solve Problems

    In this world, there is no entrepreneurship that will succeed perpendicularly. Problems do arise but we should apply different tactics to handle them. Before winning a battle, failures are guaranteed. Have the skills to predict risks and come up with risk management plans to solve the problem.

    2. Ability to Manage Money

    An ultimate goal of doing business is to make a profit (money). How do you expect to manage a business if you don’t have the skills to manage money? Budgeting for the business will also be a big challenge to any business which is not well handled will result in a loss.

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    3. Networking with the Right People

    Before venturing into any business, you must set goals for it. Create the right linkages and fish out resourceful people to acquire business ideas. Out of the entrepreneurs, you spend time with, define your role model and work towards achieving that. Learn more from successful ones and ask them how they manage. Share as many challenges as possible to get solutions to the problems affecting the business.

    4. Building Relation with Customers

    In a real sense, business without customer is like dead wood. In business engagements, we either sell services or products. Make sure the ideas you employ, the decision you make and services offered meet customer needs. Do a lot of research where necessary to get a viable solution. Sell the skills acquired into the business so as to attract more customers.

    5. Being Resourceful

    The moment an entrepreneur knows how to manage money; the next question should be how he can source for more to pump the business to a greater profit. Have the capacity to identify the sources of funding. This also involves a convincing voice to sell out the business and attract more funding.

    6. Managing Stress Efficiently

    Stress can kill entrepreneurs if not well handled and managed. There will always be a time when all options that you try will hit the wall. Frustration occurs in the process of trying to fix this. Don’t let stress put you down, instead, turn them into an opportunity to grow. Apply useful tactics for business growth.

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    7. Managing People Effectively

    Managing people takes different dimensions. Use different parameters to gauge people’s capabilities. Identify their weakness and work on them. Productivity can only be achieved by having an effective team on board. Motivate and build them every day. Treat employees with equality as it brings respect. Timely feedbacks about the business will be experienced.

    8. Capacity Building

    Limited skills can affect the growth of a business. Enhance the team performance by training them in key areas. Identify the gaps in each and every team member and plan for capacity-building sessions. This will give them the strength to handle complicated issues as commitment levels go high. As an entrepreneur, this will form a basis to handle employee misconduct issues.

    9. Learning Ability

    The market demands changes and affects business every now and then. Don’t assume you know every detail about your business. How to build customer trust in an online business?  A business if strategized well moves very fast. Emerging trends should be monitored and applied with immediate effect to avoid business disruption.

    Get skills and focus more on what level you want to take the business. Whether you want to generate revenue or to make a mark in the business. You might want to make your customers loyal to your business or brand? All these types of questions should be answered while trying to learn about your business.

    10. Identifying Strength And Weakness

    Nobody is perfect in this world. It is crucial to identify what you are good at (strength). Identify weaknesses so they don’t overpower the strengths. This will help in making an informed decision about your business. Acting on weaknesses with courage and sheer strength will help you go long way.

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    FAQ’s

    What are entrepreneurial skills?

    Entrepreneurship is an individual’s ability to turn ideas into action. It includes creativity, innovation and risk-taking, as well as the ability to plan and manage projects in order to achieve objectives.

    How do you develop entrepreneurial skills?

    Here are some effective ways to enhance your entrepreneurial knowledge.

    • Attend events
    • Learn from the experts
    • Don’t give up
    • Volunteer to lead
    • Learn from a mentor
    • Keep learning
    • Enhance communication skills

    What is an entrepreneur example?

    An entrepreneur is a person who starts a new business and usually risks his own money to start the venture. Examples of well-known entrepreneurs include Bill Gates, Steve Jobs, Mark Zuckerberg, etc.

    What are the 7 skills of an entrepreneur?

    These are some essential skills required to succeed as an entrepreneur.

    • Ambition
    • Willingness to Learn
    • Ability to Listen
    • Creativity
    • Assertiveness and Confidence
    • Perseverance
    • Courage and Risk Taking

    Feel free to reach us and share your feedback. We would love to hear from you. Do comment us in the comments section below. Happy Reading.