I am glad that my previous blog post Sorry, your “cool” webapp is probably not going to make money received good response and generated a lot of debate. What I discussed in that blog post was that most of the so called startups or webapps which are based on “game-changing” or “cool” ideas never end up making any money. So, if your aim is to make money, pursuing such ideas can be risky. While idea-driven startups rarely make money, I professed market-driven approach for someone looking to find startup ideas that actually make money. ...
All posts tagged startup
Do a startup or travel around the world?
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 →
How making money changed my perspective on startup ideas
I admit it: my previous (so called) “startup” Kroomsa was a failure. Back when I was starting up, I remember how game changing I thought it was. We wanted to revolutionize Indian music scene by inserting audio advertisements into music. We also vowed to donate 20% of proceeds from advertisements to a charity organization. Do you see how cool the idea was? Though this business, we combated piracy of music, made money for independent bands and helped society by supporting charities. All at once! ... Read the entire post →