Friday, October 23, 2009

The light’s better here

The joke goes like this - Someone was looking for something on the ground below a lamp-post. The cop asks him, did you lose something. He replies "yes, i lost my keys". Cop - "Did you lose them here ?" .  The man replies "no, I lost them over there, but the light's better here."

Most of us figure out what to search for , or figure out a brilliant business idea but spend most of our time in the wrong place. This is what is called as "majoring in minors" (courtesy this video). Most people spend major time and effort in minor things and cant figure the more important things.

Example being when starting a website. Spending most of time in developing it, using cool and newest technologies, starting from scratch, but missing out on things like target audience, business proposition. If  you do not know whats the size and type of your customer, your website is doomed to die. So 90% of the thing could be to launch it, but the most important thing would be the last 10%.

Moral of the story - Do not just concentrate on what is the easiest to do. Concentrate on whats more important. Searching for the key under the lights might be an easy task but you are going to fail as the key is not there.

Wednesday, October 21, 2009

The elevator pitch

Elevator Pitch

Came across a nice video about how to pitch about your business idea to an investor in a 2 minute presentation.

A good elevator pitch is made up of two key elements

1.layout the pain statement - what you are trying to solve

2.value proposition - how does your venture solve that problem

A good elevator pitch must pass four key tests

1. It should be short - you might have just 2 mins to deliver your pitch

2. It should be easy to understand - even a non technical guy should be able to get the idea.

3. It must be greed inducing - how are you planning to get $$ and how much ?

4. It must be irrefutable - must be self explaining and leave the investor with more answers and less questions.

Quite impressive !

Sunday, October 18, 2009

The Pros and Cons of doing an MBA

Now that I have decided to do an MBA, there is not turning back. But still there are thoughts in my mind about the pros and cons of doing an MBA. Especially now, when global economy is under recession. And when I am married and having a good job that pays well. Let me list all of them out.

Cons
1. Huge Opportunity cost - I will lose more than 10 Lakhs PA of salary for the next 1-2 years that I spend doing an MBA. That will be a huge amount. Add to that the costs of an MBA which will be in excess of 30Lakhs (min).

2. Moving away from friends and family - out of sight is out of mind. Isn't it ? We often do not get a chance to meet, even in weekends, living in the same city. Moving away will definitely mean less social gatherings.

3. Strained relationships - though you are in touch with your spouse over the phone and email, but its just not enough sometimes. Same about your family. Its going to be difficult.

4. Stress and Burden - An MBA is not an easy affair. Its not like the 9-6 job (oh come on! face it, we do have a relaxed job , even in IT). Its going to be stressful, and loaded. Top it up with the burden of loan which one must take. And then the tension around internships, projects, placements,visa, .. .. ..

Pros

1. Once in a lifetime experience - If you join a good reputed b-school, you are bound to have an experience that will change your life for sure. The outlook changes a lot. Not experienced personally, but read a lot about it. Also this would provide you with the much needed confidence to do anything in life.

2. Add weight to CV - before an MBA you might just be an IT professional from IIT/NIT with experience in XXX,YYY,ZZZ. But after that, your CV will read "MBA from xxxxx". This definitely will be an added advantage in any future endeavor you might take up.

3. Career change and progression - Though not very simple, but it will be easier to change your career and a swifter progress after an MBA. All depends on how one fares in the b-school, but it is definitely easier than without an MBA.

4. Life long network - You will gain a network of friends, alumni, and faculty which will help you in the longer run. You will have to contribute as well, and thats how it works. Give and Take.

5. Money will come later - And if everything goes well, you will definitely earn more than now in long run. Enough money to cover the money you lost as 'opportunity cost' in a lesser time.

[Update - May 28/2010]

Read an interesting article about how to decide between an Indian MBA and a foreign MBA. A good read indeed. The most important point is about having the right expectations. True indeed !

http://www.mindinsight.com/viewblog.action?blogId=35  :

Monday, October 12, 2009

Why do I give so much of gyan?

I am good at giving gyan. Most of the times they do not make sense. But I dont get tired of giving gyan.In all the forums and blogs that I have subscribed to, I have been found myself giving gyan more than taking them.

Why do I like giving so much gyan ? Because I am an Indian and Giving Gyan is the Indian expertise.

Whether we follow the same or not , we do preach. And preach at every other chance we get. Good and bad.

Good in the sense that in anybody having any doubt on anything in this world gets an answer from the gyan his neigbour or colleague has to provide. The other day I heard my friend giving gyan on entrepreneurship, though he has never done anything entreprenurial in his life, and nor is he an MBA ;).

Coming back to my gyans, I have always given gyan on things that I believe in. I am an applicant for MBA for fall 2010 and as and when I am applying and researching more schools, reading more about schools, contacting alums, listening podcasts I am gaining more insight about the b-schools and applications. And hence the gyan.

Also its my moral duty to help other fellow b-school applicants like me.

Isn't it amazing that whatever information you need on applying to a b-school is always available to you,at you fingertips. Courtsey to our brothers all over the world blogging , and posting from all over the world about their b-school experiences. I wonder what would we do without such a network.

Mafia Wars !

Have lost a lot of energy, stamina and health in the last 6-8 weeks, first preparing for the GMAT, and then preparing for the application.

Energy recuperated very slowly, probably one refill per day, stamina is slow to refill, health can be refilled at a hospital, but not that quickly. Amidst doing a lot of jobs in the mafia as don corleone, I was also busy doing the app.

Have you heard or played Mafia Wars ? If yes, you will know what I am taking about here.

Mafia wars is a highly addictive game in Facebook. I must warn you before you start playing, its highly addictive.

So addictive that I even once thought of buying some energy !

Well, now that one app for R1 is over, I can play it more often. Hoping to reach level 100 in a few days.

Until the preparations for the next app starts, going to Mafia country.

Sunday, October 11, 2009

Submitted app for Judge Cambridge today

Just submitted the Judge, Cambridge app today. Must say, its a relief. Was editing the essays for a long time now. Frankly speaking, even if you give me a year to write, I would still say its not perfect yet.

Could not get anybody to proof read my essays. That's a negative and could weight against my candidature. And this is my first app ever. Also this is my only app for R1 this season.

Still, hoping for the best. Lets see what happens.

Will keep my fingers crossed until then. Now the ball's in their court.

Saturday, October 10, 2009

Shortlisted another B-School for app : Richard Ivey

Richard Ivey school of busines, University of western Ontario.

Things I liked about the school.

1. Small class size of around 140. (Though this also means low chances of getting in. Especially for average people like me , or for those who are not over-achievers.)

2. 70% of course is done via case study.

3. One year course and a reasonable course fee. (not that less though, 100,000 $ CAD)

4. Placements in consulting are higher than other fields, and hence can be considered a strong consulting school.

5. Location - Canada - its a good place to live and study. People are warm and friendly. No visa worries.

Another interesting thing I found about the school is that they provide travel rewards up to the value of 1200 CAD for traveling and visiting the school and actually sitting in a class for a day. They also have other events in US, Canada and Mexico, but none in India I guess.

Overall a good school, and I find it a good match. The deadlines are quite stiff though.

R1 - Oct 5,

R2 - Nov 2.

R4 - Jan 4.

R1 is alreayd gone, and cant make it to R2 as well. Will think about R4.

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Just thought of cracking a joke on canada , its original , i swear.

An MBA applicant was contemplating various options for his mba in different countries, and finally found just a few to match his profile. Here is how he saw them:

1. INSEAD - Cant speak or understand french, can't apply, will lower job prospects in France post mba.

2. Rotterdam erasmus - Dont know dutch either.

3. IMD - Dont speak German. Only German thing I know is Hitler.

4. Ivey, Canada - I Know punjabi - good fit. Bingo ! Final. Applying now . Surinder uncle will lend money as well. Hadippa !

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Thursday, October 08, 2009

Indian way of thinking

Whats the Indian way of thinking. What represents the Indian way of thinking. Is it always being ready to cut corners whenever given the opportunity. Is it jumping the signal whenever not seeing the traffic cop, or is it the babu culture we have. I think its more than that.

Here are a few instances at work that I think are typically Indian.

- Always ready with an excuse : Ask somebody about a missed deadline and more often than not what you hear is an excuse. We need to start accepting our shortcomings and work on them.

- Always ready to take a dig on others : Just see the newsgroup we have at office, everywhere someone or the other is throwing some kind of slander on the other. The newsgroup is meant for sharing information and not for proving who is better and who is not. We have a very bad habit of finding something peculiar or bad about others. Someone speaks a different accent, and we start giggling. Someone gets a bashing, and we feel happy. Someones gets an award or even buys a new car, we get jealous.

- We copy - we do what others do. we want our kids to become what other's kid have become. Even when buying furniture we want the same thing as others have got, and we want go to the same place where the neighbor had gone last summer. We are not original in thought and action.

- We can't handle others successes - we just cant.

- We can't accommodate foreigners - We don't even treat people from other parts of our country equally and often blame them for 'stealing' our job.  Leave alone the question of welcoming foreigners.

PS : I love my country, and I am proud of being an Indian.

PS: Many of the things above are true for people in other countries and cultures as well, but we need not follow them. Do we ?

Why not IIMs

Since I am applying for the one year courses for in the UK, I am often asked why not IIMs ? IIMs also have the one year PGPX (names may differ across IIMs) courses. And I have the required experience as well (will complete 7 by july 2010).  Most require at least 5 years of WE after graduation, with IIM A and B requiring 7 years.

Here are a few answers.

1. I am looking for diversity - Might look like just a funda, but its true. I want a class with people from diff backgrounds and countries as well. While IIMs do have students from different countries, but the number is limited and Indians dominate the pack. I might end up meeting a few old friends from my college, or past colleagues at IIMs. This will not be the case if I go to the UK. The class at most foreign universities are well represented by different countries and people with different backgrounds. Even the faculty will be diversified. Here in India, I will be stuck with the Indian way of thinking, but in UK I will get the opportunity to work and interact with people all of whom think differently. I will gain a lot of perspective and will grow personally.

2. Also, post MBA jobs at IIMs are mostly in India. And I do want to work in a foreign company at least for some time post my MBA. I have worked in India for the last six and half years and now I want to work in some other country and get to know the cultures. I want to get exposed to a foreign culture and gain more - work-wise and personally.

3. Getting out of your comfort zone.  After having Studied, Lived, Worked in India for so long, I think I am quite cozy in my comfort zone. I have done what all others of my age, my peer have done. Studied hard in XII, get into engineering college, then get a job in IT. All has been smooth as of now. And somewhere the challenge is missing. I want to challenge myself now. Not denying that studying at IIMs will also be a challenge in itself, but it will be much more in a foreign land.

4. What about the cost ? IIMs have relatively lower cost than any foreign MBA in UK or the US. But I wont let the cost come in between this time. Till now, I have done only those things which have looked favorable. Now its the time to break the trend and do something different. "But 50 Lakhs is not a small money dude" - reminded one of my friend. And I say - people have taken loans, and so will I. Lets think about repayment when we come to that.[see how I plan to finance my MBA] It may be recession, but I think I will land a job in UK and be able to repay soon. And hoping that I  get some scholarship as well, this could be an easier ride.

5. The one year courses at IIMs are more useful for those already in a managerial role and/or having 10-12 years experience. So I think I do not fit in. Moreover, IIMs look into the marksheets and degrees more than anything else.  On the other hand, the schools in US and UK look more into the personal aspects of the application and less into the acads and managerial experience. This is my personal belief and need not be true. Also because of the tough competition in India a few candidates get through, and my views might be biased.

Hence I decided not to apply in IIM. May be 4-5 years down the line if I have a profile that suits the IIMs, may be yes.

TOEFL - to take or not to take

TOEFEL is required by many institutes especially in the US. But since I am yet note sure about applying to any US school in this round, I am not sure about taking toefl either. Frankly speaking, its a waste of money. I do believe I have good command on the English language. Though while speaking, I might sound like I am not that natural, and speak with an Asian accent (whatever that is). I still think I need not take the test just to prove my comm skills. Let the interviews bekon, and I will talk my way through.

Also, I dont think many institutues are strict about TOEFEL. I think many of them give waivers to students who have completed their degree course from a college where mode of instruction was English. Here is the mail which I got from adcom from Oxford:

"To apply for an exemption to the TOEFL test, plesae address a letter to the Admissions Committee, stating the reasons why you feel you do not need to sit the TOEFL test. Please then upload this letter to the TOEFL section of the application form. The Admissions Committee will then make a decision on this letter."

I do believe this could be decided on case to case basis, and depend on the school one is applying to. For those who want to apply for a waiver I would suggest to write a strong argument on why you do not need toefel. Like if you have worked in MNCs, international exp (small or large), debates won, toastmasters club or anything of that sorts.
Also, if they still think your application is strong and your toefel is below par, they may ask you to retake before giving a final admit. I am not sure about this though, but a few schools do it like this.

I would suggest work hard on your essays and your overall application, and low score in toefel or lack thereof would be nulified. Like the way I am doing.

Have edited the essays for the hundredth time now. The first draft was ready on 31st august, and its more than one month now that I am tweaking it. I think after a while one should stop looking at the essays and just submit them. Gosh ! Wish it were a bit easy.

Wednesday, October 07, 2009

About Recos

I hear often that for an application to be strong as a whole , strong LORs (or Recos as we call them) are essential.

I can not ignore the importance of recos. And hence talked to my manager about this a month back. She took it as a shock when she heard about it but when I told her how firm was my decision to pursue an MBA was, she was ok with it.

After that we had one more meeting in between and then I listed down some achievements/strengths etc that I thought she should mention and then sent across to her. She gave some very good examples that she thought she must mention as well. I am very happy with how it went. Now i think I have a fairly strong application at least in terms of the reco.

As far as the other reco is concerned, I took it from a peer. As I am applying to Judge Cambridge in R1, and they require a peer reco. For other apps this season, I will have to find another referee.

Now fine tuning my essays.

Tuesday, October 06, 2009

IIMA Alumni will head PepsiCo's quaker unit

http://ibnlive.in.com/news/iim-alumni-named-new-head-of-pepsicos-quaker-unit/102774-7.html

Jaya Kumar, an Indian born and an IIM A alumnus will now be the president of Pepsi's two billion dollar Quaker Foods and Snacks division

People of Indian origin already at the top of PepsiCo leadership include Chairman and Chief Executive Indra Nooyi and SVP of corporate strategy Vivek Sankaran.

Kudos !

Lets take over the world.

 



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Added 29 oct 2009

http://economictimes.indiatimes.com/infotech/software/At-Microsoft-six-Indians-call-all-the-shots/articleshow/5174535.cms

Indians call the shots at Microsoft as well. At least 6 Indians are among the top 25 , of the company’s 95,000-strong workforce.