Lessons from the week (27 Aug 2023)
on fundraising, Alex Hormozi and family conflict
Building a $100 million F&B business
The below post on LinkedIn got me connected to a lot of likeminded investors. I have an important pitch tomorrow for which I am prepping. I have learnt that getting the word out is as important as what you are building. You have to market.
We raised 12,800,000 from angel investors thus far.
The change from online to offline has caused 40% growth month-on-month.
Our valuation has gone from $2 million to $5.5 million.
Our team has gone from 3 to 11.
Our SKUs have gone from 6 to 30.
Our average order value has gone from 249 to 399.
We are close to breaking even within a quarter of launching our stores. That is insane!
Our next goal post is to go from 2 stores to 10 stores, from 50 lacs to 3 crores.
To get from 10 stores to 100 stores we will work with 2 VCs (one in India and one in the US) that we have spoken to and like.
We are raising up to $1 million with a minimum ticket size of 10 lacs per angel. If you have an appetite for taking calculated risks and want to be part of the story that created India's first "good-for-you" fast food chain, next to every Subway in the country, then THIS is the right time to invest.
DM me (harsh@happyratio.com) if you are keen.
Learning how to build my businesses from Alex Hormozi
Alex Hormozi is the author of $100 million offers and $100 million leads. He has built multi million dollar businesses and is now giving away everything he has learnt for free because he makes more money acquiring stakes in companies that do $1 million to $10 million in EBITDA versus selling courses or books. And how does he attract and convince businesses to work with him? By building trust. He gives immense value upfront by teaching his systems and thinking. The clarity of thought is his writing and his frameworks are incredible. The reason he has taken the internet by storm is because he is genuine - you can feel his contagious energy through his videos and messages. He pushes everyone to be the best versions of themselves. And he shows you the path to doing it.
Here are my notes as I am going through his teachings.
Dealing with family conflict
It is the people who are closest to you who tend to impact you the most. We love them. But we also get the most upset at them. They know how to push your buttons. This is a dance that has played out since childhood. However I have found myself in a situation where decisions are directly impacting my life emotionally and financially.
What I have learnt over the past week is that your family can be extremely irrational. They are driven by emotions not reason. And they tend to repeat patterns from their past, often subconsciously.
The only thing one can do when you are on the receiving end is to remind yourself what is in your control and why you are being deeply affected. Do you want something from them that they are taking away from you? Is it material or emotional or both?
I went from anger to sadness to indifference - all within a matter of days. I cannot control how people you care about behave but I can control how I react. And I choose to react with equanimity.
Harsh Batra
LinkedIn
Thanks for reading. I share what I learn every Sunday. Subscribe for free to receive new posts.