Everything Nishith Rastogi said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Rastogi: Lack of process leads to restrictive corporate policy
“Lack of process is what leads to policy.”
Rastogi: Locus operates an expense process without any expense policy
“We have Locus as an expense process that you should know what email ID to send your invoice to. But we actually don't have an expense policy. We trust every individual to judge themselves what should be filable. If you file it, we will expense it.”
Rastogi: Locus links OKRs directly to performance appraisals
“That book on the Google, it mentions that in the Google, they don't link OKRs with appraisals, because that impacts ambitious goals. We haven't done it that way. Right now, we have linked it, and we are more like, you know, it's fine if you reach 70, 80% but w…”
Rastogi: Supply chains solved visibility but neglected automated decision-making
“While there has been a lot of solution towards visibility in supply chain, there has been very few and very little effort around the decision making in supply chain.”
Rastogi: 1-hour home delivery is 10x more complex than retail logistics
“The complexity of delivering to an end customer at their home in a one-hour slot is 10 times more than delivering to a retail store, which is at the same location open throughout the day. And to solve this 10, 10 X complexity, you have one 10th of the time, wh…”
Rastogi: Early enterprise sales require nine months of uncertain effort
“Enterprises have really long sales cycles. So as a young startup, imagine, you know, putting in nine months of effort in a sales process where you don't know whether you will get something or not. And because it's a much larger company, your entire leadership …”
Rastogi: Automating Supply Chains Is Harder in India and Indonesia Than the West
“And automating anything in India and Indonesia is far tougher than doing it in say Europe or US, right? Because the infrastructure is slightly better.”
Rastogi: Customer-facing enterprise mistakes cause 6 to 9 month setbacks
“Also in an enterprise company any customer facing mistakes have longer sales cycles, which you are working with customers who will want to grow at 20 to 40%. While as a company, your growth target is 200 to 300 or 400%, right? So you need to parallelize your e…”
Rastogi: Percentage-based logistics savings create the most value for large enterprises
“Given we save in percentages, the maximum impact we can bring is in large enterprises with large amount of supply chain. Because if we are saving 10%, the absolute value of 10% is much bigger in large enterprises.”
Rastogi: Locus employed more PhDs than sales personnel in year one
“Like for the first year of Locus, we had more PhDs than sales guys in the team.”
Rastogi: Locus pivoted to B2B mid-fundraise with zero investor resistance
“And during the fundraise itself is when we pivoted from a B to C focus, RightSafe, To a B to B focused locus. And we received absolutely no resistance from our investors.”
Rastogi: Locus enterprise clients offered survival capital during COVID
“During say the COVID time, our clients more, you know, in addition to our investors, our clients actually reached out and asked us that if we needed additional capital to survive the pandemic, they will be happy to help, right?”
Rastogi: Over 50% of Locus revenue originates outside of India
“And today we have customers, teams, and offices present across Jakarta, Ho Chi Minh Berlin, UK, US, and of course, India. And we have customers in, you know, another 20 countries. So with more than 50% of our revenue today coming, you know, from outside our ho…”
Rastogi: Locus Has Reached Double-Digit Million ARR
“Yeah, we are in the double digit million range. And right now is when we are basically working out our strategy and resources to take the 10 to a hundred million journey.”
Rastogi: Building new enterprise modules at Locus costs $750k to $1M
“So we could think about trying out building a completely new module, new product, you know, 40, 50,000 dollars spent you know, which gets you, like, about two, three engineers for three quarters in that and their working budget, right? But today we know like o…”
Rastogi: Locus targets 50% of sales through partners within two years
“A year back, about 95% of our sales were done directly. Today, about 20% of our sales are done with partners, and over the next two years, we want to take that number up to 50%, right?”
Rastogi: Locus seeks funding to scale from $10M to $100M revenue
“So yes, we are looking you know, at a healthy round, which allows us to go from the entire 10 to a hundred million journey without needing any additional capital.”
Rastogi: Locus took over a year to close its first enterprise customer
“I think overall, like it took us more than a year to really get our first enterprise customer.”