Ep.6 - Sumit "Sid" Siddharth, Founder of SecOps Group

In this episode, Chris interviews Sid, a prominent figure in the cybersecurity field, discussing his journey from a small town in India to becoming a successful entrepreneur in the UK. Sid shares insights about his early education, the importance of peers in his career, and the transition from corporate life to founding his own company, NotSoSecure. He emphasizes the significance of training in scaling his business and reflects on the acquisition of his company, highlighting the challenges and rewards of entrepreneurship. In this segment of the conversation, Sid and Chris delve into the intricacies of service businesses in the VC landscape, the evolution of SecOps Group, and the innovative exam models they have developed in the cybersecurity education sector. They discuss the challenges and strategies of building a brand through exam offerings, the importance of understanding the consulting landscape, and how to navigate competition effectively. Sid emphasizes the significance of creating value through affordable and accessible exams, which has led to substantial growth in their business. In this conversation, Chris and Sid explore the intricacies of entrepreneurship, investment, and mentorship. Sid shares his experiences with certifications, the importance of understanding business dynamics, and the value of enjoying the entrepreneurial journey. They discuss the significance of identifying strengths and weaknesses in startups, the role of community in product development, and the future vision for growth in Sid's ventures. The conversation emphasizes the importance of networking, collaboration, and the mindset required for successful entrepreneurship.

Takeaways

• Sid's journey showcases the importance of curiosity and resilience.
• Early exposure to hacking sparked Sid's interest in cybersecurity.
• The role of peers is crucial in personal and professional growth.
• Transitioning from corporate to entrepreneurship requires courage and preparation.
• Training became a key revenue stream for Sid's business.
• Clear messaging is essential for standing out in a competitive market.
• Sid emphasizes the importance of creating trainers rather than just being a trainer.
• The acquisition of Not So Secure was a strategic decision for growth.
• Entrepreneurship is about building something and knowing when to let go.
• Success in business often requires recognizing one's strengths and weaknesses. 
• VCs typically prefer product-based businesses over service-based ones.
• Service businesses can sell for 5x to 7x EBITDA depending on various factors.
• The principles of hacking can be applied to various aspects of life and business.
• SecOps Group aims to provide affordable and accessible cybersecurity exams.
• The exam business has seen rapid growth, with over 50,000 participants in a year.
• Building a brand through innovative exam offerings can lead to increased leads and business opportunities.
• A bottom-up approach in sales can complement traditional top-down strategies.
• The exam model is lean and allows for quick updates and changes.
• Creating value through good quality and reasonably priced exams is key to popularity.
• The exam portfolio has expanded significantly in a short time, indicating market demand. 
• Certifications can be controversial; choose wisely.
• Investing is more about mentorship than just money.
• Understanding a business's needs is crucial for investment.
• Failures are part of the entrepreneurial journey.
• Enjoying the process leads to eventual success.
• Identifying strengths and weaknesses is key for startups.
• Community engagement is vital for product success.
• Market fit is essential before launching a product.
• Networking can lead to valuable collaborations.
• Continuous learning a