026 | "1 of United Nations Top 60 Women Transforming India" (Madhavi at Space Basic)
Today’s guest on the “Phil with F30” podcast is Madhavi Shankar – CEO of Space Basic
Forbes List: Asia
Year: 2020
Category: Enterprise Technology
Madhavi Shankar had two career goals – to be on the Forbes list and to succeed as an entrepreneur. This year Madhavi reached both those goals in her role as co-founder and CEO of the mobile and web app Space Basic.
The app is a platform to manage hostels and student housing matters including attendance, payments, and room allotment. It may sound simple, but the end results of using this app have incredible benefits and cost-saving implications for a number of stakeholder ecosystems.
Space Basic has had fast growth as a company and in adding app users. Since launching in 2017, it reached 200,000 users last year and is on target to reach one-million users this year.
In 2019 Madhavi was named one of the Top 60 Women Transforming India by the Indian government and the United Nations.
Madhavi certainly knows how to take advantage of every opportunity that comes her way and works both instinctively and methodically. Some of the many things she shared with me include:
Her unique insights on the value of working at startups before starting her own entrepreneurial journey.
The importance of due diligence to understand ecosystems and opportunities.
How her work in the due diligence phase has created a loyal client.
Understanding how to work with teams and finding ways to inspire them.
The importance of encouraging employees to contribute to the company as well as seeking opportunities for personal growth.
Her own take on the importance of “gut” feelings.
The desire of working to improve her home country of India.
Her love of self-learning using books, podcasts, and tutorial videos.
The importance of mentors.
Her next ambitious set of goals to grow the company.
Madhavi’s leadership skills are impressive. She shares a number of memorable strategies that helped her to grow her company quickly and successfully. I hope you’ll be inspired by her unique perspectives.
“Under 30 Seconds Round”
1. What is the book you’ve gifted more often than any other book, and why?
The Lean Startup, Eric Ries. It gave me a head start on my startup.
2. What’s one of the best investments and one of the worst investments you’ve ever made and why?
Best - My company.
Worst - Maybe some poor investment in the stock market.
3. What’s the most impactful thing you do in your Morning and Evening routines?
AM - Meditation. I use the Calm app.
PM - Meditation if I missed it earlier. I get my “steps” on the treadmill while on the phone.
4. If you won the Peter Thiel Fellowship and you were going to get money to start a business instead of going to college, what’s the very first thing you’d do to start a new business?
I’d still go to college. Since I’m passionate about the education space I’d probably start something similar, but sooner.
5. What’s something you never knew you needed?
Patience.
In the REVIEW SECTION, please let me know…
The city / country you’re tuning in from!
How Madhavi Shankar’s story has inspired you and your favorite part of this episode!
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GUEST INFO: Madhavi Shankar – CEO of Space Basic
CONTACT: Twitter @madhavi_shankar / Instagram @madhavishankar
WEBSITE: https://www.spacebasic.com/
HOST INFO: Phil Michaels
SOCIAL: @iamphilmichaels
YOUTUBE: www.youtube.com/philmichaels
PODCAST WEBSITE: www.philwithF30.com
PHIL’s WEBSITE: www.iamphilmichaels.com
