You searched for money - Page 12 of 14

Stupidity of free markets

September 5, 2011Paras ChopraPersonal2 Replies

This post is a slight, but important, detour from my usual posts about startups. Today, I watched the documentary Zeitgeist: moving forward. Even though I may not fully agree with the proposed solution, the problems and current flaws of free markets are very real and left a deep impression on me. If you care about the world, do watch the movie once. Here’s what the movie proposes:

Abolishment of money. Collapse of mindless consumption and materialism. End of profit-maximization at nature’s expense. ... Read the entire post →

How to market your startup or new product without spending a penny

August 16, 2011Paras ChopraEntrepreneurship11 Replies

Many startups face problem of breaking the clutter. Nobody per se cares about your startup. They have their own busy lives and your startup is probably just another website they visited today. Making people notice and care about your product is perhaps the toughest challenge a startup faces. The challenge becomes even more difficult if you are a bootstrapped startup or are unwilling to spend thousands of dollars on press, paid advertising or sponsorships. So, what are the best ways to market your startup without spending any money? ... Read the entire post →

The kick of a startup

July 10, 2011Paras ChopraEntrepreneurship, Personal9 Replies

Yesterday, my startup hit a significant milestone: 10,000 total accounts (trial + paid). And last month marked one year anniversary of launching paid plans for Visual Website Optimizer. I think it is a good time to reflect what it means to me and the business.

Needless to say, I am very happy that we can boast of a small, smart team and big brand customers like Microsoft, Groupon and AMD. However, when I think about it — I was much more excited (and happier) about first 10 paying customers than 10 new paying customers now. Back then when I was launching it, there was an unknown territory to explore and I was a warrior ready to battle the unknown. ... Read the entire post →

What’s wrong with Indian startup scene?

May 7, 2011Paras ChopraEntrepreneurship, Personal21 Replies

I was at an Indian startup event today and did not enjoy the experience. It felt typical of what Indian startup scene has come to be (it is my perspective, of course. Feel free to disagree). There are two specific things which are wrong about startup scene in India: a) it’s a huge “ego-chamber”; b) most of early stage entrepreneurs are not solving problems for global market.

About “Ego-chamber”

Indian startup community is a tightly knit one and ironically it is also one of the biggest disadvantages. In today’s event, I saw entrepreneurs discussing ideas amongst themselves. One would say: “your idea is cool“. The other would respond: “no man, your idea is cool“. You see — perfect ego boosting so that nobody feels bad about their efforts. The tiny startup community in India has absolutely no connection to outside world and the actual customers are least bothered about these startup events. The worst part, in fact, is that since entrepreneurs talk to other fellow entrepreneurs at such events and no body wants to be the bad guy, they end up getting false hopes about coolness of their startup. The only solution to this is getting away from ego-boosting talk at startup events and actually testing your product validity with customers and being ruthless at that. ... Read the entire post →

Startup: an emotional roller coaster ride

March 5, 2011Paras ChopraEntrepreneurship, Personal8 Replies

February was a great month for my startup (Visual Website Optimizer). All metrics that you can care about worked in our favo. Increase in number of customers, revenues, users (and yes, Twitter followers too). We also hired our first employee and are looking forward to hiring 2 more. (Please apply if you are in Delhi and someone you know is in Delhi and wants to work with us).

If everything seems great, why do I call this an emotional roller coaster? Well, that’s because just like a real roller coaster there is always a lingering fear that we may not be in existence 12 months down the line. When established companies such as MySpace with hundreds of employees face uncertainty, how can our small team afford to be complacent. ... Read the entire post →

Do a startup or travel around the world?

December 25, 2010Paras ChopraEntrepreneurship27 Replies

Every time I watch Discovery Travel & Living on TV or read Lonely Planet magazine, I desperately long for travelling around the world. This feeling intensifies after reading posts such as 8 Exotic Destinations You Can Afford. I get all pumped up ready to pack my bags. But then I realize: Oh wait, I have a startup.

Startup requires a lot of sacrifices from you. You have to work extremely hard (think 100+ hours per week) for several years. All this hard work is justified in hope of an eventual big pay-off which may happen in a year, five years or may not happen ever. That big-payoff has potential to make you financially independent and then you can go travel the world (or explore other exotic interests such as taking a stab at string theory). But the big question is what if that eventual pay-off never happens? It is certainly a possibility because majority of businesses will either fail or will become self-sustaining for years to come. Acquisitions, IPOs and FU money is a rarity, not a norm. ... Read the entire post →

Business ideas are dead; chase after market opportunity

November 29, 2010Paras ChopraEntrepreneurship8 Replies

In my previous blog post titled “How making money changed my perspective on startup ideas“, I argued that business ideas don’t have a lot of value in isolation. It is the market opportunity coupled with good execution which generates value and revenues. In this post I want to go one step further and argue that most successful (software) companies got there by chasing a market opportunity and not by having a unique business idea.

Take example of any successful software company and you will find that their business idea was not unique. You say Facebook, I say Friendster. You say Google, I say Altavista. In fact, I think citing such examples is not a good idea because odds of a startup achieving a billion dollar valuation (and becoming a brand) are close to none. I am more interested in knowing how the “long tail” of software companies achieve million dollar plus revenues. That’s a realistic, achievable target and the odds of your startup becoming a Fortune 50000 business are much higher than it becoming Google. So, we should drop the dreams of IPO (for now), let’s just see how businesses make million dollar revenues. ... Read the entire post →

Startups and Nihilism don’t go together

November 7, 2010Paras ChopraEntrepreneurship, Personal, Philosophy10 Replies

Note: if meaning of life and startups don’t excite you, it is recommended that you skip this post. You will find it boring.

I know this is a weird title. But I have finally convinced myself that you cannot afford to be too philosophical if you are doing a startup. Doing a startup could turn out to be a terrible experience for those who especially adhere to philosophy of Nihilism. For those who aren’t aware of Nihilism, it says that life has no meaning or purpose and is in fact pointless. This philosophy was popularized by the German philosopher Nietzsche and became popular with atheists. After all, if there is no God, what’s the point of life? ... Read the entire post →

The Turing-roulette Game

August 22, 2010Paras ChopraPhilosophy

I don’t know if it has been proposed earlier, but the other day I had an interesting idea about creating a variant of Turing Test and mashing it up in a Chataroulette kind of environment. As you may be aware, Turing test comprises of a game where a human chats with an unknown entity (which may be a computer or another human). The job of a human is to figure out whether the entity is human or a computer. It is proposed that if a computer passes Turing test (that is, if it manages to fool the human into thinking that it is a human), then we may call that computer “intelligent”. Unrelated to Turing test, Chataroulette is an online site where random strangers are paired up for chatting. ... Read the entire post →

Compilation of revenue figures for different kinds of startups

June 6, 2010Paras ChopraEntrepreneurship, Personal10 Replies

Imagine for a moment that you have created a new web app and after about 3 months of launching you are doing $2000 per month of sales. Would you consider yourself as a successful startup?

Well, you are already ahead of majority of startups which never get to see any revenue. So, in that way you are doing good. Plus if $2000 covers all your human and infrastructure cost, that means you have broken even and are doing really well. Is breaking-even the measure of success for a startup?

You certainly didn’t take the risk to earn just-enough money. Why would you leave your day job if your goal was to just break-even? So, this directly takes us back to our original question – when do you say that your startup is a success? ... Read the entire post →