Watch this video on venturebeat about the three necessities for a startup success. Especially a tech startup.
http://entrepreneur.venturebeat.com/2010/05/28/three-necessities-for-start-up-success/
A small abstract:
- Is there a new market ? Or is there a potentially new market that can be created because of some technological or economic change.
- Essentially, new companies need not exist or need not be created. When starting a new company think about why you think its needed. What is wrong with the current companies that are doing the same or similar things that you need a new one. Because if a market exists then customers are more than happy to continue with same old companies and would unlikely switch.
- So if there is going to be a change, which you foresee, might be because of some technological advancement or economic change or both, how big is the change. Will it create a new market. Will it bring about a 10X change ?
- Think about 10x factor - always think about how fast, how better, how different your product will be than the existing one. Will it be 10x ? A VC might not be interested if its not around 10X.
Saturday, May 29, 2010
Entrepreneurs ...
Entrepreneurs aren't born , they are made.
An Entrepreneur is somebody who jumps out of the airplane without a parachute in the hope that he will get some help on the way.
Funny ? Its true and that's the reason only a few take the actual plunge.
[Source : Vivek Wadhwa's interview]
http://epaper.dnaindia.com/epaperpdf/29052010/28saturday-pg10-0.pdf
Vivek Wadhwa is a serial entrepreneur and now a academic researcher on globalization.
Follow him on twitter http://twitter.com/vwadhwa
An Entrepreneur is somebody who jumps out of the airplane without a parachute in the hope that he will get some help on the way.
Funny ? Its true and that's the reason only a few take the actual plunge.
[Source : Vivek Wadhwa's interview]
http://epaper.dnaindia.com/epaperpdf/29052010/28saturday-pg10-0.pdf
Vivek Wadhwa is a serial entrepreneur and now a academic researcher on globalization.
Follow him on twitter http://twitter.com/vwadhwa
Deciding between a foreign MBA and an Indian MBA
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 !
http://www.mindinsight.com/viewblog.action?blogId=35
http://www.mindinsight.com/viewblog.action?blogId=35
Thursday, May 27, 2010
Is it the end of the passport size photo ?
Recently visited the Passport Seva Kendra, or PSK as it is now called in Bengaluru. And its modern. TCS has been awarded some 1000 crores for a project to modernize and e-fy passport offices all over India. Bengaluru and Chandigarh are the two places where this project has been implemented to start with. Expectation is to have swift process for passport application which takes a lot of time thanks to erstwhile manual process of application, police verification (which remains but is swift, as claimed) etc.
So coming to the point of passport size photo, you do not need a photograph to be provided with your application while applying for a passport. They have digital cameras which capture your picture, quite hassle free. I had a similar experience at RTO bangalore where I did not have to provide a passport size photo.
This simply means that you no longer need the ubiquitous passport size photo. Well, it is still needed in some cases like when applying for loans, sim card etc but the actual meaning of the photo - 'passport' size will be soon gone.
So will the name need be changed ? Think of it some 100 years from now, will there be an entity called passport photo ? If yes, we will be there to tell tales of how the paper passport photo was taken over by digital photos.
Not to forget the fate of photo studios which survive on passport photos. They might move into other businesses or offer other services like marriage photography, etc ( A lot of them already do this along with regular passport photo business )
So coming to the point of passport size photo, you do not need a photograph to be provided with your application while applying for a passport. They have digital cameras which capture your picture, quite hassle free. I had a similar experience at RTO bangalore where I did not have to provide a passport size photo.
This simply means that you no longer need the ubiquitous passport size photo. Well, it is still needed in some cases like when applying for loans, sim card etc but the actual meaning of the photo - 'passport' size will be soon gone.
So will the name need be changed ? Think of it some 100 years from now, will there be an entity called passport photo ? If yes, we will be there to tell tales of how the paper passport photo was taken over by digital photos.
Not to forget the fate of photo studios which survive on passport photos. They might move into other businesses or offer other services like marriage photography, etc ( A lot of them already do this along with regular passport photo business )
Wednesday, May 19, 2010
Is an MBA really worth it ?
A few months back I wrote a post on "Pros and Cons of doing an MBA" . Now that I have chosen to join a b-school I thought it would be better to revisit and find out more.
In fact, during the interview I had with Sean Rickard from Cranfield, I had asked this precise question - "Is an MBA really worth it ?". Sean answered by saying that an MBA is not a must to succeed. Richard Branson and many other successful businessmen are not MBAs, but they do recruit MBAs. So doing an MBA does improve your chances to succeed.
After doing a little re-thinking, I have found that the most compelling reason for me to do an MBA, is to get out of my comfort zone. This is true, as I have found how anxious I have been in the last couple of years to do something different and do something which interests me. And I think doing an MBA will be the starting of all these things that I want to do.Agree, I will have a loan (not so huge though) to pay off at the end of it, but I think I will be just fine.
Also, since its an international MBA, I think the exposure will be different and probably better. It will be an experience of a different kind. And I am quite excited about it. Also I expect the MBA course to transform me, to a different and more competitive person. And if it really happens, I think it will be really worth it.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Also read an article on 'should an entrepreneur have an mba'
http://entrepreneur.venturebeat.com/2010/05/12/should-an-entrepreneur-have-an-mba/
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Read an article in economist (link below) on how B-schools are gearing up to change the way they teach, the curriculum etc. [Do not forget to read the comments.]
http://www.economist.com/business-finance/displaystory.cfm?story_id=16067747
In fact, during the interview I had with Sean Rickard from Cranfield, I had asked this precise question - "Is an MBA really worth it ?". Sean answered by saying that an MBA is not a must to succeed. Richard Branson and many other successful businessmen are not MBAs, but they do recruit MBAs. So doing an MBA does improve your chances to succeed.
After doing a little re-thinking, I have found that the most compelling reason for me to do an MBA, is to get out of my comfort zone. This is true, as I have found how anxious I have been in the last couple of years to do something different and do something which interests me. And I think doing an MBA will be the starting of all these things that I want to do.Agree, I will have a loan (not so huge though) to pay off at the end of it, but I think I will be just fine.
Also, since its an international MBA, I think the exposure will be different and probably better. It will be an experience of a different kind. And I am quite excited about it. Also I expect the MBA course to transform me, to a different and more competitive person. And if it really happens, I think it will be really worth it.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Also read an article on 'should an entrepreneur have an mba'
http://entrepreneur.venturebeat.com/2010/05/12/should-an-entrepreneur-have-an-mba/
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Read an article in economist (link below) on how B-schools are gearing up to change the way they teach, the curriculum etc. [Do not forget to read the comments.]
http://www.economist.com/business-finance/displaystory.cfm?story_id=16067747
Monday, May 17, 2010
How my Loan Application reached HSBC, Milton Keynes, UK
Sent my application for post graduate loan via DHL on friday, the 14th. And it got delivered today, on 17th. Really express service, considering it was a weekend in between. But I believe DHL works 365*24*7.
Here is the whole trail of how my shipment traveled from Bangalore to the UK. And you can clearly (or is it too obscure ?), it took less than 72 hours.
Can't see it ? Click on the image to view full version. (Could not make it look better)
Now keeping my fingers crossed. Hopefully it will be approved.
Here is the whole trail of how my shipment traveled from Bangalore to the UK. And you can clearly (or is it too obscure ?), it took less than 72 hours.
Can't see it ? Click on the image to view full version. (Could not make it look better)
Now keeping my fingers crossed. Hopefully it will be approved.
Friday, May 14, 2010
The Big Question : Tier-1 or Tier-4
Tier-1 (G) - Erstwhile HSMP visa. This is the most popular and sought after visa which is needed for working in the UK. Most employers do prefer this visa over others like Tier-2 etc.
Tier-4 (Students) - Students visa for studying in the UK. One gets a Tier-1(PSW) to work post study.
I am eligible for Tier-1(G) visa now (based on points calculator). But a Tier-1(G) visa is meant for employment purpose only. Likewise a Tier-4 visa is only for study purposes. So while technically I might be able to stay and study on Tier-1, its not 'appropriate', and if UK home office finds any such irregularities, I might be in trouble. Before making any decision, I would like to get a clarification (written permission will be best) from the UK Immigration Home Office, details of which can find here - UK Border Agency | Home Page . Even if its allowed, I find the following cons of studying on Tier-1.
While if I go with Tier-4 (students) and then convert to Tier-1 (PSW) later on, which can be done within a month of completing studies, I would be well off. I heard that some employers do prefer Tier-1(G) visa holders, but Tier-1-PSW should be good as well. Again hoping that the economy recovers a little and jobs start appearing.
Refer to my previous post on Tier-1 related information.
http://followingmydream.wordpress.com/2010/03/19/welcome-changes-in-tier-1-immigrant-visa-for-uk-from-april-2010/
Tier-4 (Students) - Students visa for studying in the UK. One gets a Tier-1(PSW) to work post study.
I am eligible for Tier-1(G) visa now (based on points calculator). But a Tier-1(G) visa is meant for employment purpose only. Likewise a Tier-4 visa is only for study purposes. So while technically I might be able to stay and study on Tier-1, its not 'appropriate', and if UK home office finds any such irregularities, I might be in trouble. Before making any decision, I would like to get a clarification (written permission will be best) from the UK Immigration Home Office, details of which can find here - UK Border Agency | Home Page . Even if its allowed, I find the following cons of studying on Tier-1.
- Note that one needs to pay the council tax (which is waived for students) when you stay in the UK on tier-1. So this will be another overhead.
- Tier-1 is valid for initial 2 years only and can be extended for further 3 years, given that you show enough earnings in the last one year. So consider the case where you are studying on Tier-1, where you wont be earning for the first year, and then if it takes another 3-4 months to find job, you will just be left with 8-9 months to show earnings for, and which might not be enough (of course if you get a FAT salary, 6 months might be more than enough) to accumulate those earnings to get the needed points. (25K GBP for 5 points, and atleast 30K GBP for 15 points)
While if I go with Tier-4 (students) and then convert to Tier-1 (PSW) later on, which can be done within a month of completing studies, I would be well off. I heard that some employers do prefer Tier-1(G) visa holders, but Tier-1-PSW should be good as well. Again hoping that the economy recovers a little and jobs start appearing.
Refer to my previous post on Tier-1 related information.
http://followingmydream.wordpress.com/2010/03/19/welcome-changes-in-tier-1-immigrant-visa-for-uk-from-april-2010/
Thinking of creating a website ? - think minimalistic
If you are thinking of creating a website, or a webpage you must be wondering how should you format your page to fill in with the 'right' amount of information without making it too cluttered. I know its easier said than done. No design is perfect and we (web designers, sometimes I like to call myself this name, I find it fancy ;)) keep on tweaking our designs, re ordering content, and resizing divs.
Here is a very good guide on how to create good web pages. Its based on "minimalistic" idea of creating web pages.
http://www.skelliewag.org/a-guide-to-creating-a-minimalist-website-63.htm
Minimalization is the 'art' of making a web page look un cluttered. There should be enough white space between sections to space things apart. Also there should not be more content than whats required. A picture speaks a thousand words, and its best to put a picture than writing a content, as it saves real estate and speaks volumes without making the visitor go through it (believe me , not many like to read everything).
Everyone has his own definition to minimalism. To me, minimalism means tending towards the google home page.
'Always aim to be different from your crowd' is another idea behind this theory as well. Every other site now a days is crowded with flash , images, widgets and so on. A site with clear and clean look stands out anytime.
Believe me, thats why I like wordpress better than blogger.
Read more here
Here is a very good guide on how to create good web pages. Its based on "minimalistic" idea of creating web pages.
http://www.skelliewag.org/a-guide-to-creating-a-minimalist-website-63.htm
Minimalization is the 'art' of making a web page look un cluttered. There should be enough white space between sections to space things apart. Also there should not be more content than whats required. A picture speaks a thousand words, and its best to put a picture than writing a content, as it saves real estate and speaks volumes without making the visitor go through it (believe me , not many like to read everything).
Everyone has his own definition to minimalism. To me, minimalism means tending towards the google home page.
'Always aim to be different from your crowd' is another idea behind this theory as well. Every other site now a days is crowded with flash , images, widgets and so on. A site with clear and clean look stands out anytime.
Believe me, thats why I like wordpress better than blogger.
Read more here
Monday, May 10, 2010
If you build something of value, the money will find you.
Often startups keep running for venture funding and scrap their plans for lack of funding. But, truth to be told, as in this article , less than 10% of startups receive any kind of funding. Which means only 1 out of 10. So what happens to the rest 9 out of 10. Do they die ? Not necessarily.
Getting a funding does not mean that your business will succeed and similarly, not getting a fund does not mean that you are doomed to fail. A lot of successful entrepreneurs have started their business and made them running using their own personal finances. Its often a very good idea to look for external funding only when you have a stable product built, and its ready to be sold/marketed.
But, how many of us do have that amount of time and money to experiment. Believing in an idea and sacrificing for it holds good only for some time. After that, you run out of patience and also money. Not to mention friends who tend to drift apart.
But I think those who can get through this period of trying, and keep similar-minded friends close are the ones who succeed. And then when you are successful in doing whatever you started with, say building a product, making it sell-able, money will follow you.
Getting a funding does not mean that your business will succeed and similarly, not getting a fund does not mean that you are doomed to fail. A lot of successful entrepreneurs have started their business and made them running using their own personal finances. Its often a very good idea to look for external funding only when you have a stable product built, and its ready to be sold/marketed.
But, how many of us do have that amount of time and money to experiment. Believing in an idea and sacrificing for it holds good only for some time. After that, you run out of patience and also money. Not to mention friends who tend to drift apart.
But I think those who can get through this period of trying, and keep similar-minded friends close are the ones who succeed. And then when you are successful in doing whatever you started with, say building a product, making it sell-able, money will follow you.
Thursday, May 06, 2010
email id is your unique identification
Everything in the world of internet revolves around your email-id. Its a unique identification for you, a passport. Want to enter a site, want to view some details, want to make some friends, just enter your email id and you are through. I don't even remember a lot of sites where I have registered my email-id. Well, thats a different thing altogether, but the point is - the email id opens your door to many things on the internet.
I took my email-id lightly, especially when I created it, in 2003 after I got an invite to open a gmail account. Well, the email-service has been phenomenal since then and so has been its usage. But, more importantly its importance has grown over time. A lot can be attributed to how good it has been.I wonder if this has been as lousy as xxdiff-mail or yahxx-mail would I be still using it ? Well, again, that's a different issue altogether.
I now have more than 10 Gigs of data in my gmail account, discounting pics uploaded to picasa, and files uploaded to google docs. I even have bought 25 Gigs of extra space from google in case I run short of memory (which I already have because of the huge volumes of pics I have, thanks to my DSLR). My email id manages everything for me in my life. It holds all the information I need and keeps me updated with latest information via digest mails, email subscriptions and numerous other such emails.
Talking about importance, it now has a very important role in my life. It is the same id with which I am registered to GMAC, who manage my GMAT score. Its the same id with which I have applied to a lot of b-schools to whom I applied, and its the 'official' id for communication with the b-school I am going to join. Its the same email id with which I manage my mutual funds portfolio, and also my social presence via twitter,facebook and ning. I didn't realize when did this personal/un-official email id of mine became official for many purposes.
And I hate to admit but its difficult to part away with this id now. No day passes by when I don't check my mails. When I do not have a computer, I am busy on my mobile, and I hate it when I do not get a network to connect to gmail. Its addictive, and why not, its part of me now.It uniquely identifies me .
My email is me is my email.
I took my email-id lightly, especially when I created it, in 2003 after I got an invite to open a gmail account. Well, the email-service has been phenomenal since then and so has been its usage. But, more importantly its importance has grown over time. A lot can be attributed to how good it has been.I wonder if this has been as lousy as xxdiff-mail or yahxx-mail would I be still using it ? Well, again, that's a different issue altogether.
I now have more than 10 Gigs of data in my gmail account, discounting pics uploaded to picasa, and files uploaded to google docs. I even have bought 25 Gigs of extra space from google in case I run short of memory (which I already have because of the huge volumes of pics I have, thanks to my DSLR). My email id manages everything for me in my life. It holds all the information I need and keeps me updated with latest information via digest mails, email subscriptions and numerous other such emails.
Talking about importance, it now has a very important role in my life. It is the same id with which I am registered to GMAC, who manage my GMAT score. Its the same id with which I have applied to a lot of b-schools to whom I applied, and its the 'official' id for communication with the b-school I am going to join. Its the same email id with which I manage my mutual funds portfolio, and also my social presence via twitter,facebook and ning. I didn't realize when did this personal/un-official email id of mine became official for many purposes.
And I hate to admit but its difficult to part away with this id now. No day passes by when I don't check my mails. When I do not have a computer, I am busy on my mobile, and I hate it when I do not get a network to connect to gmail. Its addictive, and why not, its part of me now.It uniquely identifies me .
My email is me is my email.
Wednesday, May 05, 2010
Updates : April 25-May 05′ 2010
Well, haven't written anything in this blog since a long time. A lot happened this week and the last, and thought of sharing it in a digest.
Loan Application ready: Collected the documents required for applying for psot-graduate loan from HSBC, UK. Need to send them asap, so that I am visa ready. Inquired Blue-Dart and it will cost 2000 approx to send them to UK. Whhooopping amount, I think
Decision form and initial deposit: Had a demand draft of 3000 made in favor of Cranfield University for the initial deposit. Will send it across with the decision form to the university. Bunch of people (3 actually) have decided to club these and send them in one courier to save on courier costs. Nice idea ! Should be done in a few days time.
Saw a bunch of movies -
- The Prestige - Starring Christian Bale, Scarlett Johansson, Hugh Jackman, Michael Caine. Amazing movie, amazing drama, mystery and thriller. Rated 8.4 in IMDB and ranks at #72 in the top 250 movies of all times.
- Syriana - Starring George Clooney, Matt Damon. Based on the Arab oil industry and the global politics/crime surrounding it.
- The Transporter-3 - Watched it for the 3rd time. Good pastime at dinner time.
Loan Application ready: Collected the documents required for applying for psot-graduate loan from HSBC, UK. Need to send them asap, so that I am visa ready. Inquired Blue-Dart and it will cost 2000 approx to send them to UK. Whhooopping amount, I think
Decision form and initial deposit: Had a demand draft of 3000 made in favor of Cranfield University for the initial deposit. Will send it across with the decision form to the university. Bunch of people (3 actually) have decided to club these and send them in one courier to save on courier costs. Nice idea ! Should be done in a few days time.
Saw a bunch of movies -
- The Prestige - Starring Christian Bale, Scarlett Johansson, Hugh Jackman, Michael Caine. Amazing movie, amazing drama, mystery and thriller. Rated 8.4 in IMDB and ranks at #72 in the top 250 movies of all times.
- Syriana - Starring George Clooney, Matt Damon. Based on the Arab oil industry and the global politics/crime surrounding it.
- The Transporter-3 - Watched it for the 3rd time. Good pastime at dinner time.
Saturday, May 01, 2010
World T20 in Caribbeans
Why do they have to play the world T20 in the Caribbeans. I know they have some good beaches, the people love cricket and its peaceful. But yes, that's the whole point I am trying to make, its way too peaceful. The grounds are small, crowds are well no crowds, and there is no noise. Bring it to the subcontinent and we will make a show of it. ICC will earn a lot more if its played here in BCCI's backyard. I know West-Indies cricket needs some redemption, but ICC will have enough money to pay them off as well and bring them out of their dire straits.
Another reason for not playing in Caribbeans is their low scoring grounds. They are detrimental for T20 if not for 50 over games. To be honest, I didn't like the World Cup in 2007 which was played there. Well, India not making it to super-8 was another BIG (read very BIG) reason. But you have to agree, slow and low scoring pitches will kill the interest.
Not to mention the timings in which the games are going to be played. India matches might be played in times that suite viewers in India, but there are a few matches which will be played when its wee hours in India. The telecaster (ESPN and CO) are going to be at loss for sure.
Well, now that its being played here, I cant say anything but start watching it and love it. Lets hope Dhoni's boys make it again as they did in the rainbow nation in 2007.
Who will be the next Champions ? I think one of India, Pakistan and Sri-Lanka will lift the trophy this time. See for yourself, in 2007 India beat Pakistan to win it. In 2009, Pakistan beat SL to win it, which goes to show the fire-power the three countries from the subcontinent have. Its the IPL as well which will help in giving the boys a confidence. Other than Pakistan, almost every player from SL and India played and had match practice in the IPL.
But do not leave out Bangladesh, another neighbor and Zimbabwe the underdogs who have won both their warm-up games in the build up to the WT20 upsetting Australia.
I think this time the WT20 will be fun, more fun than last time.
Another reason for not playing in Caribbeans is their low scoring grounds. They are detrimental for T20 if not for 50 over games. To be honest, I didn't like the World Cup in 2007 which was played there. Well, India not making it to super-8 was another BIG (read very BIG) reason. But you have to agree, slow and low scoring pitches will kill the interest.
Not to mention the timings in which the games are going to be played. India matches might be played in times that suite viewers in India, but there are a few matches which will be played when its wee hours in India. The telecaster (ESPN and CO) are going to be at loss for sure.
Well, now that its being played here, I cant say anything but start watching it and love it. Lets hope Dhoni's boys make it again as they did in the rainbow nation in 2007.
Who will be the next Champions ? I think one of India, Pakistan and Sri-Lanka will lift the trophy this time. See for yourself, in 2007 India beat Pakistan to win it. In 2009, Pakistan beat SL to win it, which goes to show the fire-power the three countries from the subcontinent have. Its the IPL as well which will help in giving the boys a confidence. Other than Pakistan, almost every player from SL and India played and had match practice in the IPL.
But do not leave out Bangladesh, another neighbor and Zimbabwe the underdogs who have won both their warm-up games in the build up to the WT20 upsetting Australia.
I think this time the WT20 will be fun, more fun than last time.
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