Episode 19 - Building One of India’s Leading Accounting Software Stacks - ft. Sumit Agarwal (Co-founder & CEO of Vyapar)
Description
Founders, your ultimate masterclass on how to build and sell to SMEs is here!
Join us as Sumit Agarwal shares some invaluable insights on how to crack making software for Indian SMEs, drawing from his own experience of building Vyapar—an accounting software stack used by 1 Cr.+ SMEs in India.
Topics covered in this episode:
(0:00 ) - Episode preview
(1:48 ) - Who is Sumit Agarwal? How was Vyapar born?
(4:37 ) - How big is Vyapar?
(5:10 ) - Who’s purchasing Vyapar’s software?
(5:47 ) - How has India’s software space evolved?
(9:41 ) - Is Vyapar’s buyer profile the same as it was 10 years ago?
(10:57 ) - How did Vyapar tackle Tally’s network effect?
(13:19 ) - How did Sumit Agarwal get the insight that helped him differentiate Vyapar from Tally?
(16:20 ) - How did Vyapar approach selling to small businesses in India? What’s Vyapar’s current business model, and how did it evolve over the years?
(20:04 ) - How much are small businesses in India willing to pay for Vyapar’s software?
(21:24 ) - What metrics does Vyapar track to analyze whether the software is doing well?
(25:12 ) - What features are SMBs using the most on Vyapar?
(25:30 ) - Which company does Vyapar look up to?
(26:20 ) - What should someone who's building software for India keep in mind?
(27:17 ) - Why did performance marketing stop working for Vyapar after some initial success? Is it possible for people to scale their businesses online? When should founders start their offline sales journeys?
(30:28 ) - What has Sumit’s fundraising experience been like? What advice would Sumit give to founders building with family members or if they are building for a tough market?
(32:39 ) - What else can be built for the SMB market?
Rapid Fire Round
(35:11 ) - Would Sumit have picked accounting as an alternative career?
(35:32 ) - What is the first thing that Sumit does when he goes to the office?
(36:10 ) - Anand Lunia shares a fun anecdote about Jaydeep Barman (co-founder & CEO of Rebel Foods).
(36:33 ) - What’s the weirdest or most interesting feature request Sumit has received?
(37:01 ) - What has been Sumit’s proudest moment at Vyapar?
(37:40 ) - What has been the most challenging moment for Sumit in his journey?
(38:28 ) - Which Indian founder does Sumit look up to?
(39:10 ) - Are IITians overrated, or are they worth it?
(40:08 ) - If Sumit had to create software under Vyapar in a new category, what would it be?
(40:49 ) - What does Sumit think about monetising by lending?
(41:43 ) - What is Sumit’s long-term plan for Vyapar?
(42:14 ) - What role would Sumit never delegate to others?
United States
