Driving a startup is like flying a plane: you need dials on the dashboard to tell you if you’re on course for your destination. Learning how to measure progress systematically was the key insight that team FirstRide took away from JFDI Discover, writes Huang Cui-Lyn
JFDI Discover is our 21-day online pre-accelerator course that runs every month. JFDI Discover teaches founders how to apply and get results from powerful startup tools such as the Lean Canvas, Pirate Metrics and OKR (Objectives & Key Results).
We spoke to Vijay Kumar Reddy, co-founder of FirstRide – a mobile app which aims to streamline the appointment making process with friends and peers. The team took part in the April Discover program and shared what they have learned in the 21 days.
Tell us about your startup and team
FirstRide is a complete solution for all your car related needs, providing users with a seamless car purchasing experience. Our unique platform offers total assistance to its customers throughout the entire car buying process.
The process begins by arranging a test drive to help buyers choose the right car, and continues through getting car loans sanctioned, and assisting in insurance and post-sales services to facilitate the maintenance of the car.
It’s time to buy cars online – “Research online, book a test drive online, buy online”
Why did you start this business?
Over the years, the car purchasing market has transitioned from a seller’s market to a buyers’ market. Today’s current buyer is smart, knowledgeable and well-informed on what they seek in their next purchase. Dealerships are now primarily avenues to touch and test pre-planned purchases. The role of the traditional sales guy at the car dealership has been replaced by data, knowledge, information and feedback from the internet.
How did you find out about JFDI Discover?
F6S India had recommended we apply for JFDI Accelerate as we were intending on expanding to a broader Asian market. I found out about the JFDI Discover program through browsing the JFDI website.
What were some of the challenges you faced before joining JFDI Discover?
Working remotely was always an issue for us. But we have since found more efficienet methods of delegating work and remote monitoring between our team and freelancers. I believe this is very important for any busines with a global vision.
How did JFDI Discover help your startup?
JFDI Discover helped us in revalidating our idea and business model. We found it particularly valuable being able to communicate and learn from like-minded founders during the program.
What is the one thing you learnt or did at JFDI Discover that you think other founders should know too?
Pirate Metrics – a way to keep us informed on our progress on a weekly basis. Prior to JFDI Discover, we hadn’t measured this metric seriously and now aim to maintain a stronger focus on measuring growth.
Who would you recommend to JFDI Discover?
We would recommend JFDI Discover to any first time entrepreneurs. We believe it wil change the way you look at an idea, for the better.
Where is your team planning to go from here?
Our main reason behind participation in the JFDI Discover program is to take FirstRide to a global level. FirstRide will be launched soon in Singapore, followed by other international markets.
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Thinking of starting your own business? JFDI Discover will help you find out if you really want to be an entrepreneur. It will reveal if your team is aligned to deliver results. And it will show you how to solve a real problem for customers who are willing to pay thus moving closer to a “problem-solution fit”.
Cui-Lyn Huang is on the Editorial team for JFDI Asia. Currently pursuing a combined major in Computer Science & Journalism at Northeastern University in Boston, and after growing up on the little red dot. She loves to write, she loves to eat, and loves to write about eating.