Wingify, a company that I founded, turns 8 today. Over these years, I’ve seen myself evolve from a silly little punk doing a side project to the Chairman position where I’m responsible for creating future leaders within Wingify.
In my career, I’ve observed a few people rapidly rise in their careers within while most others simply drift along. What distinguishes leaders from non-leaders?
Our eighth anniversary is as good as any other day to reflect on the subject of leaders. So here goes my advice and observations, listicle style. ...Read the entire post →
We thrive on stories. We want to know who did what to whom and what happened after that. People watch the news for hours and binge on Netflix because we’re evolutionarily wired to seek stories. Our ancestors who told and listened to stories had a higher survival rate because stories bound them together. Stories helped form groups that killed Mammoths and take over the world.
Stories bind people together because they provide a natural boundary between us-and-them. Those who share similar stories are ultimately similar people – Christians bound together by Biblical stories, USA bound together by stories of freedom and independence. When friends gossip, what they’re really saying to each other is: we belong together. ...Read the entire post →
Big decisions in life are gut-wrenching. Who to marry, where to work, who to hire, how to fire, which subject to major in, how to make a career change, which car to buy, where to invest, et cetra. We stall and brood over those because all such decisions represent major forks in our life. Usually (but not always) these are one-way roads. After all, you don’t buy a house or choose a company to work for every other day.
Given the importance of big decisions in our lives, it’s a surprise that nobody teaches us how to handle them. We’re taught solving for lever and pulley problems (something we’d never encounter in real life) but we’re not taught how to choose a career. ...Read the entire post →
I have previously written about cognitive biases and how to avoid them. In this post, I want to focus specifically on biases that impact product designers, product managers and startup founders. This post is based on a talk that I gave in Bengaluru at a product conference. So this post will contain slides interspersed with my commentary.
What’s a cognitive bias?
There are multiple definitions floating around the Internet, but I like the following one the most.
Cognitive bias is a systematic error in perception due to the environment that one is embedded into....Read the entire post →
Unsolicited emails – the cold emails – have notoriously low reply rates. I’ve seen sales people celebrating 1% reply rates as a huge win. Honestly, isn’t that a bit embarrassing? Only 1 reply out of 100 emails and even that one reply is usually “no, thanks” or “don’t email me again“.
Common justifications for this abysmal reply rate is either people are too busy or simply throwing up hands and saying: “who the hell knows”. I think we can do better than this when it comes to understanding why cold emails don’t get replies. ...Read the entire post →
Recently someone asked me a question about hiring and structuring sales team in India.
Hi @paraschopra – Am a big fan and been reading a lot of your thoughts on Inverted Passion. Wonder if you're coming up w/ something about hiring and structuring the sales team for the Indian market? Most content online is about sales in the US and Europe
Incidentally, someone asked a very similar question in our Inverted Passion slack group (now we’re 271 people). I shared my experience of growing an inside sales team at Wingify in India. In this post, I’m copy-pasting my answer from the Slack group and adding some more tips. ...Read the entire post →
Our collective understanding of marketing has a massive hangover from the pre-Internet days. If you ask most people to define marketing, they’d go with definitions like “to inform about the product”, “to create brand awareness” or “to spread the word”. All these definitions are wrong because of the same reason: they serve company’s goals, not customers’.
Have you seen this famous video on Youtube where one guy dances and it keeps on attracting other people to join him? Soon enough this one person’s weird dance is a group dancing together. In case you haven’t, check it out (it’s just 3 minutes long):
Organizations grow similarly. Whether the founding team intends to or not, every startup project ends up acquiring cult-like habits. Here’s how that happens.
What makes company cultures different from each other?
Imagine your name is Paras and you’re the founder of a startup project (it could be a company, a non-profit, a religion or even a country). You have a weird habit: you like to come to office by noon and stay late (say until 8pm). You hire your first employee, and on the first day he comes to office at 9am (just like he did in his previous job). The empty office seems odd to him, and it becomes odder still when he sees you stroll by in office during his lunchtime. In the evening, since it’s the first day of his job, he waits for you to leave but the entire time, you are happily busy on your laptop. You leave office by 9pm and a couple of minutes after you, the new hire leaves. Thinking of his first day as a fluke, the new employee comes in early again tomorrow but the same thing repeats. ...Read the entire post →
If there’s one thing that customers dislike, it’s the barriers in switching between competitive products. As customers, we want to retain our freedom. However, as entrepreneurs, we are incentivized to curtail that freedom. As I wrote earlier, head to head competition in a market pushes profits to zero. To make a profit, an entrepreneur needs to find a way to keep customers and competition away from each other.
There are two ways this separation can happen:
Prevent competition from entering into your market
Prevent customers from switching to a competitor
Obviously, these tasks are hard in a free market (and that is why market pays through the roof for companies with a sustainable competitive advantage). Unless you sell drugs, you can’t (and shouldn’t) hire an assassin to prevent competition. Nor, can you (and should you) threaten your customers with dire consequences if they switch. ...Read the entire post →
Mental models are shortcuts that help you think better. One of the most famous ones is Pareto’s principle which says that for many phenomena, 80% of effects come from 20% of inputs. Management consultants love mental models: BCG matrix helps you with manage a portfolio of businesses, Porter’s five forces model helps you think about competition and Peter Principle helps you understand why organizations become full of incompetent managers.
Mental models are abstractions of reality. They’re like proverbs. For example, “Actions speaks louder than words” tells us that revealed preferences carry more information than stated preferences (something economists now take for granted). It’s a fun exercise to go through popular proverbs and decide if these old mental models are still useful in our interactions in the modern world. ...Read the entire post →