1. Having an idea is easy (not a problem at all)
2. Creating a product is hard (development problem)
3. Creating an awesome product is even harder (execution problem)
4. Having people notice it is real hard (marketing problem)
5. Making people use it is very, very difficult (credibility problem)
6. Generating cash out of it is simply not doable (sales problem)
7. Generating money and being profitable consistently is impossible (business creation problem)
8. Having successful multiple product lines is you-must-be-out-of-your-mind (successful business creation problem)
9. Rejecting acquisition offers is way, way harder (because it is tempting and odds are that you will never reach till that stage)
10. Doing an IPO is the ultimate hardest but simply awesome ...
All posts in Entrepreneurship
How to do research on a new idea/target industry using Twitter
I just thought of sharing a technique I have been using lately for collecting knowledge on target industry or a new tool/startup idea
For example, you have been trying to something in online backups (a purely hypothetical example).
First, come up with top 3 relevant keywords that people search for while thinking of online backups. You may use Google insights for search.
Here are the relevant keywords I found: “online backups”, “data backups”, “server backups”
Now here is the juicy part. Go to Twitter search and for each of your keyword, search on following themes: ... Read the entire post →
Single biggest problem with entrepreneurs
The single biggest problem with entrepreneurs is that they have a very tightly knitted community. Yes, you read that right: being part of a tight community around entrepreneurship (especially Internet and technology startups) could be a barrier to moving ahead towards success. This might sound bit controversial but allow me to explain.
Most likely, entrepreneurs visit discussion forums dedicated to entrepreneurship. They have entrepreneurial friends. They consume entrepreneurship gyan day and night on how to succeed, what to do and what not to do. When they have difficulty, they take advice from like minded entrepreneurs who understand them. In short, lives of entrepreneurs revolve around experiences of other entrepreneurs only. ... Read the entire post →
The only alternative is to work harder
What do you do if you feel you are born unlucky? What do you do if you feel that the whole world is conspiring against you to make you not succeed? And, what do you do if you feel you have less intellect, less resources and less everything to succeed?
The short and sweet answer is to work harder. You cannot control luck. You cannot control amount of financial resources you have. But what you can definitely control is the amount of effort. Your competitior or neighbour might be advantaged in all respects but you can compensate all that just by working harder. ... Read the entire post →
ContextSense on ReadWriteWeb
ReadWriteWeb had a nice, long article written on Wingify’s ContextSense. Read the article titled Identify Any Website’s Sentiment with ContextSense.
To quote:
To test out ContextSense’s accuracy, we put in the URL for ReadWriteWeb.com (but of course). The end result was mostly on target, identifying our main concepts as a top ten list including things like software, Google, iPhone, news and media, commenting, semantic web, and more. The last three items in the list – AJAX, class libraries, and JavaScript – were off base. Perhaps that’s why they were greyed out while the rest of the list was in black, though. There isn’t any explanation as to what the shading means, but that’s a logical leap. ... Read the entire post →
Wingify in HT Mint
HT Mint ran an article on Pluggd.in and Wingify was featured as one of the few startups that the blog helped (which was very true). To quote:
Meanwhile, some very young firms have gained from Pluggd.In’s coverage. For six-month-old Wingify, a New Delhi-based firm that offers website optimization software, the biggest challenge was in getting early adopters. The firm is yet to launch its product, but was pleasantly surprised when, within three weeks of being featured on Pluggd.In, it got 10 early users and possibly its first customer. Pluggd.In had profiled the firm in July, says Paras Chopra, chief executive, Wingify. The start-up had approached Sinha for using its optimization software on his website. ... Read the entire post →
Are soft lies in sales okay?
Really, does it matter at all if you make up small lies while doing sales? If you convince yourself that it is sort of true but deep inside you know it is fundamentally a lie, are you okay with that?
I’ve known sales people going to extremes: promising benefits which never were, projecting products with made up facts and use other tricks of the trade just to get that sale. They are desperate to make a sale. This is quite common in finance industry. But, in this post, I am not concerned about blatant lies made up to trick innocent people. ... Read the entire post →
So, you have a million dollars. Now what?
Suppose you win a lottery or get a successful exit for your startup. You suddenly find yourself with a million dollars to play with. It is like what you always dreamt for has become a reality. At this point, what would you do? What would your future look like?
It is hard to imagine not having fun with a million dollars in bank. But that is precisely what I (sadly) concluded after thinking deeply over this issue. There are multiple reasons why I think a million dollars won’t bring me the freedom, happiness and euphoria that I had thought were main motivators for me. ... Read the entire post →
Golden Rule for Startups
If you are like most of the entrepreneurs, you want to find a business idea which can change the world and make you a famous millionaire. Plus you want an idea which is not hard to execute so that you may have best of all worlds. There is nothing wrong with this thought, except that either it is impossible or you need heavy doses of luck to make it a reality.
Easy to start and execute businesses rarely make it big. If you are thinking of writing an application which will revolutionize the web overnight, forget it. If you are thinking of coming up with a business model which will rock the world and make you arrive on the scene instantly, forget it. ... Read the entire post →
Article on Kroomsa in Times of India
Times of India has written an article on Kroomsa. Click here to read the article!