Have written this as a guest post for Stratessence
Last year while I was doing my MBA I got an opportunity to work with a for-profit online social venture. This startup was founded two years back, and the co founders had their own jobs – so basically this was a side-project which they wished to carry on (since they had started it, but now were a tad busy with their jobs).They chose a handful of us B School students to work with them. Needless to say, we were quite kicked about working on this. However, it did not quite work out as expected. From this experience in particular and a few other related experiences in general, here are a few tripping points that I believe entrepreneurs should watch out for!
· Don’t let early success get into your head! During the first couple of months of launch you are bound to see very promising looking registrations/usage numbers. But understand that a big part of this is purely due to the affection of your family and friends, as well as the novelty factor attached to any new ‘cool’ looking business plan! It is very easy to get carried away by all the sweet talk about your product, but again take all those ‘sweets’ with a pinch of ‘salt’ ;) . A positive start is by no means a validation of your business plan!
· Launch only when ready, even if it takes time! Making your product public when you yourself are aware of major issues is like putting up an ‘in a relationship with’ status update on Facebook just because you have a crush on that person – bound to be disastrous unless the ‘crush’ (or in our case the user) is totally sold out on you (an assumption fraught with peril)
· Make sure at least one person is working full time with the startup – else, IMHO, the momentum just gets lost somewhere. The side-project would eventually (and sadly) get pushed off the sidelines!
· And finally, be a bit shameless in asking for feedback, be humble enough to take the criticism, and be flexible enough to incorporate changes which you might not have thought of in your plan A!
It is the period after the first launch that I believe is the acid test for any Entrepreneur. The joy and pride should take a backseat while receptiveness and humility should do the driving!
Saturday, April 10, 2010
Friday, April 2, 2010
Local Train ka 'suffer'
Something that i wrote long back (2005) for the VJTI College magazine...but still very relevant, and I guess it will always be (was reminded of this when travelling in the local train yesterday!)
सुबह सुबह में चल दिया
फिर एक बार college की ओर
Weather report थी "bright and sunny"
पर बादल छाए थे घनघोर
पर जब पहुंचा में
तो देखा train थी दो मिनट late
खुश हुआ में यह जानकर
सोचा करूंगा थोडा wait
इसी बीच train आती दिखी
सब लोग हो गए तैयार
Bag आगे, sleeves ऊपर
मैंने भी किया challenge स्वीकार
Train रुकने से पहले ही
लोगों की शुरू हो गयी मशक्कत
मैंने भी एक को दायाँ हाथ मारा
और bar पकड़ा करके हिम्मत
पीछे वालों के धक्के की बदौलत
में आराम से पहुँच गया अन्दर
"शाबाश" मैंने अपने आप से कहा
क्योंकि जो जीता वही सिकंदर! (:P)
इतने में ट्रेन शुरू हुई
और as usual शुरू हुआ लोगों का झगडा
"क्या Boss, धक्का क्यों मारा?"
"चुप कर, वरना दूंगा एक झापड़ तगड़ा!"
और फिर शुरू हूए
यात्रियों के बीच के चर्चे
"अरे यार salary कितनी कम,
और कितने ज्यादा है यह खर्चे!"
"गांगुली को तोह निकाल ही दो*,
उसे कुछ भी ठीक से नहीं आता!"
"यार stock market का क्या हाल है,
कल फायदा हुआ या घाटा?"
"अरे भाई मिठाई खाओ,
में बाप बन गया हूँ!"
"मुह खोल देता हूँ, तुम खुद ही खिला दो,
में तो चारों तरफ से घिर गया हूँ"
इतनी interesting बातों में
पता ही नहीं चला कब स्टेशन आया
और फिर आराम से उतरा में
कुछ धक्का दिया, और कुछ खाया
और फिर मैंने सोचा
ज़िन्दगी भी तो ट्रेन का एक सफ़र है
Enjoy करो तो है यह अमृत
न करो तो फिर यह ज़हर है
ज़िन्दगी में भी कई लोग
हमें हँसाते हैं, रुलाते हैं!
किसी station पर चढ़ते हैं
और किसी पर उतर जाते हैं!
* PS: My sincere apologies to all dada fans :P
सुबह सुबह में चल दिया
फिर एक बार college की ओर
Weather report थी "bright and sunny"
पर बादल छाए थे घनघोर
पर जब पहुंचा में
तो देखा train थी दो मिनट late
खुश हुआ में यह जानकर
सोचा करूंगा थोडा wait
इसी बीच train आती दिखी
सब लोग हो गए तैयार
Bag आगे, sleeves ऊपर
मैंने भी किया challenge स्वीकार
Train रुकने से पहले ही
लोगों की शुरू हो गयी मशक्कत
मैंने भी एक को दायाँ हाथ मारा
और bar पकड़ा करके हिम्मत
पीछे वालों के धक्के की बदौलत
में आराम से पहुँच गया अन्दर
"शाबाश" मैंने अपने आप से कहा
क्योंकि जो जीता वही सिकंदर! (:P)
इतने में ट्रेन शुरू हुई
और as usual शुरू हुआ लोगों का झगडा
"क्या Boss, धक्का क्यों मारा?"
"चुप कर, वरना दूंगा एक झापड़ तगड़ा!"
और फिर शुरू हूए
यात्रियों के बीच के चर्चे
"अरे यार salary कितनी कम,
और कितने ज्यादा है यह खर्चे!"
"गांगुली को तोह निकाल ही दो*,
उसे कुछ भी ठीक से नहीं आता!"
"यार stock market का क्या हाल है,
कल फायदा हुआ या घाटा?"
"अरे भाई मिठाई खाओ,
में बाप बन गया हूँ!"
"मुह खोल देता हूँ, तुम खुद ही खिला दो,
में तो चारों तरफ से घिर गया हूँ"
इतनी interesting बातों में
पता ही नहीं चला कब स्टेशन आया
और फिर आराम से उतरा में
कुछ धक्का दिया, और कुछ खाया
और फिर मैंने सोचा
ज़िन्दगी भी तो ट्रेन का एक सफ़र है
Enjoy करो तो है यह अमृत
न करो तो फिर यह ज़हर है
ज़िन्दगी में भी कई लोग
हमें हँसाते हैं, रुलाते हैं!
किसी station पर चढ़ते हैं
और किसी पर उतर जाते हैं!
* PS: My sincere apologies to all dada fans :P
Saturday, March 13, 2010
Prisoners at large
A jury in front. Questions. His nervous answers. More questions. Finally Kabir pleaded guilty. He had managed to keep slipping away nicely for a few years since he had got trapped into this field. But now all the evidence was against him. And as expected, they sentenced him to jail.
It sounded scary. But then, somehow he couldn’t help feel a bit excited! This was going to be his very first time. In his profession, it is hard to keep escaping forever. And a prison is a nice place to catch up with some pros in this business (who unfortunately had one bad day at the office when they got caught!)
There he was. They took him to his cell. And there was another guy already there. A newbie he was. Poor chap got caught in his first week. Never mind, I would teach him a trick or two, Kabir thought. And there were many more. They were to suffer together. They made them work through the day and the night. Rehabilitation - they called it. Non sense – thought Kabir and co.
The traces of excitement in Kabir were beginning to die down. But then gradually he did start learning the tricks of the trade from his fellow inmates. And there was so much to learn! From conning the common man on the street to duping governments! Someone or the other had done it. And done it well. I want to try it all out once I am outta here, thought Kabir.
The every day pain seemed so much more bearable now. In fact it became a routine. Fellow inmates soon became close buddies. Life is actually not too bad here, thought Kabir.
Soon rumours started doing the rounds in the cells. The prison was going to be under attack, they said. The big gangs had a few of their men in here. And they were just looking for a chance to rescue them. Kabir, like others, started dreaming of the world outside. I just need to get out, he thought.
And one night they could hear the firing. The security was never going to be strong enough. The fight lasted for a couple of days, and seeing his chance, soon Kabir was out, just like many others.
They are out in the open. Much smarter than what they were when they went inside. The world is not safe!
It sounded scary. But then, somehow he couldn’t help feel a bit excited! This was going to be his very first time. In his profession, it is hard to keep escaping forever. And a prison is a nice place to catch up with some pros in this business (who unfortunately had one bad day at the office when they got caught!)
There he was. They took him to his cell. And there was another guy already there. A newbie he was. Poor chap got caught in his first week. Never mind, I would teach him a trick or two, Kabir thought. And there were many more. They were to suffer together. They made them work through the day and the night. Rehabilitation - they called it. Non sense – thought Kabir and co.
The traces of excitement in Kabir were beginning to die down. But then gradually he did start learning the tricks of the trade from his fellow inmates. And there was so much to learn! From conning the common man on the street to duping governments! Someone or the other had done it. And done it well. I want to try it all out once I am outta here, thought Kabir.
The every day pain seemed so much more bearable now. In fact it became a routine. Fellow inmates soon became close buddies. Life is actually not too bad here, thought Kabir.
Soon rumours started doing the rounds in the cells. The prison was going to be under attack, they said. The big gangs had a few of their men in here. And they were just looking for a chance to rescue them. Kabir, like others, started dreaming of the world outside. I just need to get out, he thought.
And one night they could hear the firing. The security was never going to be strong enough. The fight lasted for a couple of days, and seeing his chance, soon Kabir was out, just like many others.
They are out in the open. Much smarter than what they were when they went inside. The world is not safe!
Sunday, August 2, 2009
Aha moment!
Classes can hardly ever be refreshing. 9 AM ones even less so. This one was just another such early morning class when I had dragged myself to the classroom.What more, it was a Sunday morning - a time when the majority of the sane world is hours away from getting off the bed. And then if you have taken an elective which only a few others have, then all of you put together are just too few in number to take the liberty to doze off in class.
Nevertheless, amidst strings of naps that lasted a few seconds (usually the times when the Professor is busy writing on the board), what struck me sometime in the middle of the lecture was this amazing concept that the Professor talked about. It was an "Options and Futures" class (scary stuff - isn't it! Nice way to brag on one's own blog!)- and the Professor was talking about the various ways one can use Stock Index Futures (I can easily imagine a big chunk of readers who have got until this point stopping right here! However, if you have ever invested in stocks / plan to do so in future, its worth continuing reading - trust me!)
Most of the times, when we are investing in the stock of a company, we are betting on the company to do well. What we tend to forget is that as we bought the stock, we not only took up the risk that the company may or may not do well, but also the risk that the market-in-general may or may not do well. Even if we do have that in mind, we usually do nothing about it. (Frankly, the "we" here means novice investors - which includes me!).
So, for example, if you invest in Company A purely because you think it will do well, and say some event occurs which brings the whole market down (Government toppled - War with Pakistan - etc), pulling down our dear Company A with it, then you make a loss even when your view on the company was probably correct. (The market-in-general say went down by 20%, while Company A went down by 5%. Hence the Company A has outperformed the market - but you still make a loss - you would have been much better off parking that money in a Savings Bank account!)
One way to ensure that your money is precisely where you want it to be is to go long on the stock and short on the index futures.(For the benefit of those who could not get head or tail of the last sentence - it simply means that you bet on the stock to do well and so you buy it now, and at the same time you also bet on the market-in-general to not do well and so you get into a contract saying - "I will make money if the market does not do well after 3 months, and lose if it does").
What this ensures is that the gains (or losses) you make in the stock purely because of the market 's performance in general are cancelled out by the losses (or gains) you make in the the contract. Thus you are left with the gains (or losses) which can be purely attributed to the stock! So, the investment is as good as your view on the company (and the company alone - not the market-in-general) with which you wanted to invest in the first place.
And I was awake for the rest of the class!
Nevertheless, amidst strings of naps that lasted a few seconds (usually the times when the Professor is busy writing on the board), what struck me sometime in the middle of the lecture was this amazing concept that the Professor talked about. It was an "Options and Futures" class (scary stuff - isn't it! Nice way to brag on one's own blog!)- and the Professor was talking about the various ways one can use Stock Index Futures (I can easily imagine a big chunk of readers who have got until this point stopping right here! However, if you have ever invested in stocks / plan to do so in future, its worth continuing reading - trust me!)
Most of the times, when we are investing in the stock of a company, we are betting on the company to do well. What we tend to forget is that as we bought the stock, we not only took up the risk that the company may or may not do well, but also the risk that the market-in-general may or may not do well. Even if we do have that in mind, we usually do nothing about it. (Frankly, the "we" here means novice investors - which includes me!).
So, for example, if you invest in Company A purely because you think it will do well, and say some event occurs which brings the whole market down (Government toppled - War with Pakistan - etc), pulling down our dear Company A with it, then you make a loss even when your view on the company was probably correct. (The market-in-general say went down by 20%, while Company A went down by 5%. Hence the Company A has outperformed the market - but you still make a loss - you would have been much better off parking that money in a Savings Bank account!)
One way to ensure that your money is precisely where you want it to be is to go long on the stock and short on the index futures.(For the benefit of those who could not get head or tail of the last sentence - it simply means that you bet on the stock to do well and so you buy it now, and at the same time you also bet on the market-in-general to not do well and so you get into a contract saying - "I will make money if the market does not do well after 3 months, and lose if it does").
What this ensures is that the gains (or losses) you make in the stock purely because of the market 's performance in general are cancelled out by the losses (or gains) you make in the the contract. Thus you are left with the gains (or losses) which can be purely attributed to the stock! So, the investment is as good as your view on the company (and the company alone - not the market-in-general) with which you wanted to invest in the first place.
And I was awake for the rest of the class!
Wednesday, June 3, 2009
Tie Un-Tie
The absolute disgust of having to wear a tie everyday (okay, except Fridays and working Saturdays – Thank God for small mercies) to office during the last two months has made the rebel inside me wake up and give this serious issue some even more serious thought.
So this is how it works – you wrap a long piece of cloth around your neck, making loops and knots and finally push one end down and the knot up so that it is looks the way it should look.
In the evening you remove the damn thing off.
And in between, the thing hangs down your neck.
This is the thing which makes you look formal – the thing which symbolises that you really mean business – that you are very serious about your work and not taking it casually.
Well, I am somehow not too convinced. If that indeed is the case – then why is a tie not a part of the formal dress code for women. Do they not need to look like they mean business? (Disclaimer: I hope it is understood that this is a rhetoric question – I am not to be blamed if some highly proactive organization introduces ties as a formal dress code for women)
So, I put on my thinking cap and tried to imagine the various ways in which the useless looking piece of fabric can be put to some use for the good of this world. So here goes the list.
· For wiping sweat off your face – the positioning of a tie is really strategic (oh, physical positioning that is – just in case you thought I am taking this opportunity to give some marketing gyan). I mean how cumbersome it is to get your hand inside your pockets, take out your handkerchief, do the needful, and put it back in the pocket. The tie saves a lot of time and serves the same purpose.
o Counter-argument – Offices are usually Air Conditioned. So no sweat!
· For ensuring a clean nose when suffering from cold – this point actually stems from the counterargument mentioned above. Sometimes “hot and cold areas in the same office” (no, this blog is not sponsored by Blue Star) can lead to a running nose. The convenience of using a tie in this case is similar to that mentioned earlier.
o Counter-argument – A tie can prove to be inadequate if the severity of the running nose is very high – the much larger surface area of the handkerchief scores over the long but thin tie.
· For wiping off tears when you get bashed by your boss – this particular use just fits so well in the “formal” office scenario.
o Counter-argument – similar to one mentioned for running-nose. A tie may just not be adequate enough.
· To be used as a leash by your boss – this again fits well in the office scenario.
o Counter-argument - Why should the biggest boss in the office wear a tie? Agreed he would be meeting clients/ partners etc who would want to have a leash around him, but that does not happen every day.
The strong counter arguments for each possible use that I could think of lead me to believe that we are just following some silly norm which does not make even a little bit of sense. It is high time we un-tie ourselves from the unnecessary knots we have got ourselves into !
So this is how it works – you wrap a long piece of cloth around your neck, making loops and knots and finally push one end down and the knot up so that it is looks the way it should look.
In the evening you remove the damn thing off.
And in between, the thing hangs down your neck.
This is the thing which makes you look formal – the thing which symbolises that you really mean business – that you are very serious about your work and not taking it casually.
Well, I am somehow not too convinced. If that indeed is the case – then why is a tie not a part of the formal dress code for women. Do they not need to look like they mean business? (Disclaimer: I hope it is understood that this is a rhetoric question – I am not to be blamed if some highly proactive organization introduces ties as a formal dress code for women)
So, I put on my thinking cap and tried to imagine the various ways in which the useless looking piece of fabric can be put to some use for the good of this world. So here goes the list.
· For wiping sweat off your face – the positioning of a tie is really strategic (oh, physical positioning that is – just in case you thought I am taking this opportunity to give some marketing gyan). I mean how cumbersome it is to get your hand inside your pockets, take out your handkerchief, do the needful, and put it back in the pocket. The tie saves a lot of time and serves the same purpose.
o Counter-argument – Offices are usually Air Conditioned. So no sweat!
· For ensuring a clean nose when suffering from cold – this point actually stems from the counterargument mentioned above. Sometimes “hot and cold areas in the same office” (no, this blog is not sponsored by Blue Star) can lead to a running nose. The convenience of using a tie in this case is similar to that mentioned earlier.
o Counter-argument – A tie can prove to be inadequate if the severity of the running nose is very high – the much larger surface area of the handkerchief scores over the long but thin tie.
· For wiping off tears when you get bashed by your boss – this particular use just fits so well in the “formal” office scenario.
o Counter-argument – similar to one mentioned for running-nose. A tie may just not be adequate enough.
· To be used as a leash by your boss – this again fits well in the office scenario.
o Counter-argument - Why should the biggest boss in the office wear a tie? Agreed he would be meeting clients/ partners etc who would want to have a leash around him, but that does not happen every day.
The strong counter arguments for each possible use that I could think of lead me to believe that we are just following some silly norm which does not make even a little bit of sense. It is high time we un-tie ourselves from the unnecessary knots we have got ourselves into !
Tuesday, December 2, 2008
Fin's loss is Mar's gain!
Following is an (edited) version of a chat log between me and my classmate Vikash...
...
Vikash: waise ab maine decide kar liya hai. I'll major in Marketing me: KYAA? Vikash: bas me: yeh sunne se pehle mera GTalk crash kyon nahi ho gaya!
Vikash : Naseeb ko kaun badal sakta hai. My expectations from cost accounting are going loyyyyyyyer. Is it not? I have started appreciating that typically Marketing is what I am made for.
me: Kya yeh tera aakhri faisla hai?
Vikash : Haan
me : par tu toh hamesha finance finance..
Vikask : kehta tha. Par jab utne hi paise, aur dher sa aaraam, jab mujhe Marketing mein mile. Tab koi woh kyon le, yeh na le
me: Maan gaye..
Vikash : Kisey?
me: Aap ki paarkhi nazar, aur marketing ka asar. Donon ko!
Update: Vikash got placed in Wipro (Corporate Finance)
...
KYAAAAA?
KYAAAAAAAAAAAAAA?
KYAAAAAAAAAAAAAAAAAAAAAAAAAAA?
bassss
bassssssssssssss
Vikash : Naseeb ko kaun badal sakta hai. My expectations from cost accounting are going loyyyyyyyer. Is it not? I have started appreciating that typically Marketing is what I am made for.
me: Kya yeh tera aakhri faisla hai?
Vikash : Haan
me : par tu toh hamesha finance finance..
Vikask : kehta tha. Par jab utne hi paise, aur dher sa aaraam, jab mujhe Marketing mein mile. Tab koi woh kyon le, yeh na le
me: Maan gaye..
Vikash : Kisey?
me: Aap ki paarkhi nazar, aur marketing ka asar. Donon ko!
Update: Vikash got placed in Wipro (Corporate Finance)
Monday, October 20, 2008
Murphy's law strikes thrice!!!
Had a bad day in the marketing class today. Our professor keeps a surprise quiz when the number of absentess crosses a certain threshold - but the quiz is supposed to be very simple so that all those who are present are rewarded for showing themselves up.
Now then - it was one of those days. The quiz was on a case which we were supposed to do for the class today. The questions were (as I later found out) straightforward.Moreover, it was an open-case quiz, meaning you could make full use of the resources. But then if something can go wrong, then it surely will, and Mr. Murphy ensured all the three doors of escape for me were closed.
1. I had not read the case, had no clue about it.
2. In a hurry for the morning class, I took the wrong Marketing book with me. I spent the first 3 minutes of the 7 minute test trying to figure out where the case was - only to realise I wouldn't find it in that book even if I spent my entire lifetime searching there.
3. For once (probably because of the large number of absentees) there was noone sitting next to me
I might as well have slept off in my room!;)
Now then - it was one of those days. The quiz was on a case which we were supposed to do for the class today. The questions were (as I later found out) straightforward.Moreover, it was an open-case quiz, meaning you could make full use of the resources. But then if something can go wrong, then it surely will, and Mr. Murphy ensured all the three doors of escape for me were closed.
1. I had not read the case, had no clue about it.
2. In a hurry for the morning class, I took the wrong Marketing book with me. I spent the first 3 minutes of the 7 minute test trying to figure out where the case was - only to realise I wouldn't find it in that book even if I spent my entire lifetime searching there.
3. For once (probably because of the large number of absentees) there was noone sitting next to me
I might as well have slept off in my room!;)
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