The Biography of a Failed Venture
Decoding Success Secrets from the Blackbox of a Dead Start-Up
Author: Prashant Desai
Prashant Desai started D:FY to build India's sports brand, but after 30 months and Rs 30 crore losses, he teamed up with Rajiv Mehta. Despite initial failures, they decoded the issues and found success secrets, turning the venture around.
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Summary
Prashant Desai started D:FY to build India's sports brand, but after 30 months and Rs 30 crore losses, he teamed up with Rajiv Mehta. Despite initial failures, they decoded the issues and found success secrets, turning the venture around.
Description
In April 2017, Prashant Desai started a venture to build India's first truly Indian sports brand D:FY (like Nike). In six months, Rajiv Mehta, who started Puma India and led it for seven years, joined him as a partner. In 30 months, the business lost Rs 30 crore, virtually wiping out all that Prashant had earned for nearly thirty years. The venture failed not because Prashant did not possess the necessary vision, determination, and courage; it failed because the number of things Prashant did wrong exceeded the number of things he did right. One could weep over the fuselage or decode the black box. So, when Prashant decided to decode it, new possibilities emerged, revealing a treasure trove of success secrets."
About the Author
Prashant Desai is a senior director at Everstone Group, a leading India-focused South East Asia private firm with investments across private equity, real estate, green energy and venture capital. He is currently the head of strategy and investor relations at Burger King India. Prashant is also a trained speed reader, and a half marathoner with forty timed runs. He is dedicated to spreading financial literacy through his social media channels.
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