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Scaling, Hiring, and Building Strong Teams | Vikas Punna - E28

Published on: 24th July, 2024

Vikas is an experienced entrepreneur, advisor and the Managing Director of Frisco Analytics. In this conversation, he discusses the importance of selecting good advisors and how he identified gaps in the tech consulting space to grow his successful company later acquired by Huron. Vikas gives insights on how to build the right team, and sales strategies, navigate acquisitions and foster the right team culture. Finally, he shares his experiences with acquisition processes, incentive structures in consulting, managing multiple ventures and the value of direct feedback and the growth dynamics in the tech industry.

Key Takeaways:

• Choosing experienced advisors to save on finances and time

• Identifying what’s missing on the team and choosing members with the right culture fit

• Addressing incentive structures in consulting as a worker retention strategy

• Insights into the acquisition process for consulting teams

• Addressing the need for direct and honest feedback

• Navigating the complexities of managing multiple ventures


Key Timestamps:

(00:00) - Introduction

(04:55) - Building a successful consulting business

(07:30) - Scaling and managing growth as an Investor

(09:05) - Proven incentive structures in the consulting space

(15:17) - What is product market fit?

(21:24) - The company acquisition journey and post-sale experience

(33:48) - The process of underwriting a deal

(35:21) - When does one need an exit strategy?

(39:17) - Deal flow, evaluation and selection criteria used to issue funding

(48:29) - Strategic investment roadmaps


Key Topics Discussed:

Funds and Founders, Austin Texas, Abhinav Sinha, entrepreneurs, startups, venture capital, product-market fit, acquisition, team building strategy


Mentions:

Website: https://www.friscoanalytics.com/

LinkedIn: https://www.linkedin.com/in/vikas-punna-94b33216/


Check out the Funds & Founders Community:

Reach out to Abhi at abhinavsinha.podcast@gmail.com

Website: fundsandfounderspodcast.com

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About the Podcast

Funds and Founders: Untold Journeys Behind Their Breakthroughs
Welcome to "Funds & Founders: Untold Journeys Behind Their Breakthroughs," where we dig deep into the stories of successful Austin founders. Instead of focusing on their successes though, we dive into their journeys, particularly the struggles and obstacles they had to overcome.

This weekly podcast is tailored for Austin founders navigating the early stages of their entrepreneurial journey and hosted by fellow Austinite Abhinav Sinha. Here’s what to expect by tuning into Funds & Founders:

🚀 Embark on a Journey to Success
Join Abhinav as he takes you behind the scenes, exploring the highs and lows of building a company. This isn't your typical success story – we dive into the failures, the struggles, and those pivotal breakthrough moments that define a founder's path.

🌟 Real Conversations, Real Insights
Abhinav's approach is refreshingly different. Rather than dwelling on success, he crafts casual conversations that unravel the untold stories. Identify the setbacks that helped them grow, the lessons learned from failures, and the breakthrough moments that fueled these founders.

🤔 Why Didn't They Quit? Learn and Apply.
At the heart of each episode, Abhinav delves into the 'why' behind the perseverance. Why didn't they throw in the towel during tough times? And, most importantly, how can you apply their insights to your own journey? Get ready to be inspired and equipped with practical takeaways for your entrepreneurial adventure.

🤝 Decoding Venture Capital
Ever wondered what goes on in the minds of Austin's venture capitalists? Abhinav sits down with local VCs to decode their criteria for investing in early-stage companies. Gain valuable insights into the world of venture capital, understand what investors look for, and appreciate the vital factor of founder-investor compatibility.

🎙️ Meet Your Host, Abhinav Sinha:
Abhinav's soft-spoken yet inquisitive style creates an intimate atmosphere, allowing guests to share their authentic stories. His genuine curiosity and insightful questions make each episode a captivating journey into the minds of Austin's most successful founders.

If you're a budding Austin entrepreneur seeking the inspiration and insight needed for building a successful company, "Funds & Founders" is your go-to podcast.