Bootstrap to IPO - How EaseMyTrip Never Saw Losses? Prashant Pitti | Raj Shamani | FO 83

Order my first book 'Build, Don't Talk' here: https://amzn.eu/d/eCfijRu--------------In today’s episode of Figuring Out, Raj is in conversation with Mr. Prashant Pitti, Co-founder of EaseMyTrip.com. He hails from Delhi and has completed his graduation from IIT, Madras. EaseMyTrip is among very few consumer-startups in the world that bootstrapped all the way till IPO & later even became a unicorn!Prashant shares that despite being profitable for 14 odd years, Easemytrip never got validation from the media or the startup ecosystem. He explains how EMT has remained profitable even during the pandemic whereas its 7 competition brands have still not seen any profits!Prashant reveals why they never got any funding and shares his thoughts on how a bootstrap company can make money and grow with about 93% of repeat customer rate!Prashant elucidates how India is a relationship driven country and how he personally managed to bring his company at rank 2 with his 2 brothers without facing any sibling rivalries. He has explained how Indian customer is different, how customer loyalty can be built and sustained throughout the journey of entrepreneurship. To learn more about building a brand, scaling a business, watch the video till the end! Follow Prashant Pitti On:Instagram: https://www.instagram.com/prashantpitti/-------------------------🎧 Stream Figuring Out episodes on Spotify: https://open.spotify.com/show/736rhmW7vilNgkFFo8aDz4📺 Watch Figuring Out episodes on YouTube:https://youtube.com/playlist?list=PLE0Jo6NF_JYO5-phess8GKafKMtPv3tfZ------------Timestamps:00:00 - Introduction02:05 - Hard part about being a bootstrap startup06:00 - Why EaseMyTrip didn't take funding?07:45 -  Why EaseMyTrip don't promote their biggest USP?10:03 - How they earn money without convenience fees?11:32 - How EMT survived without funding?15:09 - How EMT solves customer problems?17:28 - Secrets behind the growth of EMT19:57 - 130 CR Refund24:03 - How to deal with tough time?28:06 - How to survive in competition?33:28- Top 3 principles to follow for startups37:27 - Top 3 mistakes he made39:52 - Growth Vs. Profitability43:12 - Personal wealth creation44:53 - Achievers and their patterns48:14 - Luck and its importance 49:19 - Long term thinking in a business51:55 - High customer retention 1:00:23 - Problem with hiring 1:07:50 - What's different about Indian customers?1:14:59 - Business in Dubai1:16:55 - Merits of living in India 1:19:52 - Building business within the family1:30:35 - Safety for tourists in India1:33:24 - Conclusion-------------My gear for shooting this video: Canon EOS 200D II 24.1MP DSLR Camera: https://amzn.to/3GuiPFKCanon EF50MM F/1.8 STM Lens: https://amzn.to/3WZOSoiCanon EF-S 18-55mm f/3.5-5.6: https://amzn.to/3ZpKBMyYunteng Aluminium Tripod (Vct-690, Black): https://amzn.to/3ItEzV0Zoom H6 All Black (2020 Version): https://amzn.to/3irUCIfShure SM7B Cardioid Vocal Dynamic Microphone: https://amzn.to/3GPimiMShure MV7 USB Podcast Microphone: https://amzn.to/3Xjy63dGODOX SL150II 150W LED Video Light: https://amzn.to/3XeN0aL------------------About Raj ShamaniRaj Shamani is an Entrepreneur at heart that explains his expertise in Business Content Creation & Public Speaking. He has delivered 200+ speeches in 26+ countries. Besides that, Raj is also an Angel Investor interested in crazy minds who are creating a sensation in the Fintech, FMCG, & passion economy space.To Know More,Follow Raj Shamani On ⤵︎Instagram @RajShamanihttps://www.instagram.com/rajshamani/Twitter @RajShamanihttps://twitter.com/rajshamaniFacebook @ShamaniRajhttps://www.face