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
