Archive for the 'Entrepreneurship' Category

Should Entreprenuer wait for the right IDEA!!!

This is a debate i have had with most venture capitalist that and generally outcome has been VC’s resoluting that entreprenuers should wait for the right idea before they take the plunge…..i still beg to differ…

Recently was having a conversation with recent proffesional turned entreprenuer and his words are still stuck in my head. “Their are 2 ways to do business one you have a great idea and a dream you follow and try to build the other way is you take the plunge now going with the flow…trying to make money from whatever opportunity which comes your way till the time you are able to find again that great idea and dream you would like to go with 300%.”

Well most of the people may like to conclude that VC’s were rite in first place you need to have great idea…but what part of the statement i didnt agree was taking the plunge once you come accross one.

After talking t him yesterday i was going through my “ARCHIVED collection of Business cards”, it started to hit me that 80% of entreprenuers from the technology industry dont do what they started out with. After couple of phone calls another realization came forward 60% are more sucessful in their new choosen line.  The 60% of them are those entreprenuers which have re-invented their business to always stay ahead of the curve. Some of them went from hardware business to selling Internet connections to IT infrastructure management. Some went from running cyber cafe to running an IT training institute to being successful as Search Optimization Firm. Industry has evolved people have evolved this is a sign of encouragement for entreprenuers. They are not the infosys or TCS of the industry but people who are proud to be in proffesion of running enterprises and taking call to challenges in dynamically changing enviornment.

For them wealth creation is not the only objective for being in business but its about sense of ownership and pride in achieving milestones their own way. In india its often said “those people are successful who dont work for money but make money work for them”  same goes for business just jump in the bandwagon with an opportunity use your entreprenuer skills to make it happen take it to the next level where you can jump boats to other new opportunity. Again remember VC wont think its a bad thing for you to have on your resume : stint of 2 wins and 3 loses. As they invest in people not businesses and from every loss you learn to do 2 things better than with 1 win.

So dont wait for the right idea but jump on board with the right opportunity..the right IDEA will follow its way to you!!!

Online Advertising Proposal – How to write for your Website

So you decided to go against using the ad networks for getting advertisement on your website. Not really a good strategy if you are not #1 in your niche to attract advertisers directly.Anyway idea of this post is to help you take the next step which is writting an advertising proposal for your customers. Try to make a generic brochure kind of proposal. This way you need to personally address every letter sent out and can request your network to keep forwarding proposal till the time it reaches a hand which is interested or potential advertiser.

Start your proposal by introducing your site. The lines to follow should clearly outline sites niche,category,popularity and usage. Dont throw too much stats at them.

Second paragraph should be an argument “Why you”. I believe in having it at starting so that advertiser dont get bored and rush to straight away costing section to compare with other offerings. This way your purpose,reason and costing will always be read. This section should clearly help advertiser identify target audience of your site and your sites positioning against the competition.

Third Paragraph should explain advertiser services/product your site offers to your target audience. This is easy as its just listing sites usability and part of your vision.

Average site user Profile: – I like to put this as a seperate section again so that if in all the sales talk this information does not get clearly layed out to advertiser he may overlook the proposal.

Important Segment : Identify your potential site advertisers. Example : Online Travel E-commerce companies – give out points in their favour .So that if your proposal reaches out to someone in network he/she doesnt need to use mind to see who will benefit from advertising at your site. They can just forward it straight away to person from the vertical in their contact.

Once done with that provide a layout with description and value it can derieve for a potential advertiser. In the end put in tabular format the costing and your contact details.

With these ingridents your proposal is ready to hit your address book. Will be more than glad for people to refine it further down.

Startup 101 – Why marketing department is requirement from day 1

You decided not to bring over an experience person to manage marketing infrastructure of your startup. Reasons could be many

– Decided not to loose out on equity for someone you could hire for cash at a later date

– Company doesnt need a big marketing spend at product development stage

their could be many other reasons but its advisable when you start your organization you also setup an marketing department. Advantages

– If marketing people are involved in actual product development it helps them to understand the product better and sell it better.

– During product development they can help with generating important feedback on features from customers which will help you create a product which has a demand rather than a dream speed buggy.

– Help you create a brand strategy which is essential keeping in mind you will need to pull good talent to work at your organization

Once product is ready how to manage a team of inexperienced marketing people is also a task CEO/management team of a business should know

– Goals/KPI targets should be well defined

– Steps on how to make a pitch and convert into sale should be very clearly defined

– Habit of cold calling and how to efficently use alumni contact or industry directories need to defined.

– Make sure your marketing people should either get use to listerning to a firm yes or a firm no. Whenever they get a no the reason should be well defined and turns out to be a feedback for the product.

– Every 6 months people who had said no to services should be contacted if the product can solve the pain point.

These are some basics which i thought should must share keeping in mind quality of marketing staff available to startups have gone down as candidates are not ready to share the risk with employers.

Internet as a big starting point for startups as it helps you jumpstart with information which wasnt available when i first got into it around 1998. The thing is we should learn from people who worked without the availability of a perfect VC ecosystem or other people funds to create businesses.

Being very honest when i first started writing posts which could help startups was all for a contest which was giving away book by Guy Kawasaki “Art of Start” i have read it before but i had lost my copy.  But now whenever i write a post not only it helps me analyze what i am doing wrong but help create a knowledge reference point for self which would help whenever i venture into something new.

Good site for keeping track on indian startup scene. Startup.IN

Contest Ends on 26th Jan’07. Will keep posting under this category weather i win the book or not!!

Contact Details Call Me :+91-9910444460
January 2020
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