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Archive for July 2009

Will we see this anytime soon again?

Will we see this anytime soon again?

So after 3 years away from the sport, the legend Michael Schumacher is all set to return as Massa’s replacement at the European Grand Prix at Valencia, Spain during the 21-23rd August race weekend. If you’re still in shock and don’t believe the story read up here, here or here. According to his official website, Michael is “happy to help” Ferrari in this difficult time.

So what does this mean for Ferrari and F1? Quite a lot it seems! All hopes will be riding on Schumi making a sensational comeback with Ferrari and with it bringing the once-unbeatable team back to the forefront again. F1 also lost a lot of followers after Schumi quit F1. And especially with F1 going through a rough patch with it’s fair share of controversies, this move is perfectly timed in a PR sense to bring much needed enthusiasm back into the sport. The recession has hit the sport majorly since the end of last season and it has already claimed 2 victims – the latest being BMW who have announced that they will be withdrawing from the sport end of this season.

Also, extremely interesting will be how Michael will adjust with the new F1 rules, many of which never existed when he raced. Also, best buddies and former partners Ross Brawn and Schumi will now not be together with Brawn leading his own team. I’m running out of breath with excitement as I write this and cannot wait for 3 weeks to go by as quickly as possible!

Follow developments on this story on twitter here.

EDIT: That was one of the biggest cuckoos of the year. Reminds me of the joke with the bucket and the hot water. Ch*&$#a Cuts!

My good friend Rohonesh and I were recently talking about how to approach implementing an idea that we believe would work. With whatever small experience I have with startups (read: locomi) and all the knowledge I’ve gained by reading blogs about entrepreneurship on the internet and talking about it, this is what in my opinion would work in our country. One thing is for sure, you need to be convinced yourself that your idea, however wild or simple it may be, will work (read: make money). Unless you are a philanthropic personality, or a social worker, most ideas involve making money out of making other people’s lives better.

The bootstrapped approach:

Whatever idea you have, if you plan to implement it yourself, you need time. Not to say that you cannot moonlight for a couple of months before you dive into the deep end. It’s just that things will be easier and take less time if you’re giving it your full attention. This is obviously assuming that your idea does not require a large sum of money to get things off the ground (read: capital investment).

Here’s how to bootstrap

  • Quit your day job, get a small garage or a room as office space, get an internet connection and start implementing (my thoughts here are heavily biased towards internet startups and related products).
  • No matter how convinced you are about your idea, write a business plan and think about all possible revenue models. Remember, if your idea isn’t making money then it simply won’t work. There has to be a sustainable revenue model for any idea to be successful.
  • Keep your core idea close to your chest, yet talk to as many people as you can to gauge how your product/service shall be received in the market.
  • Reserve namespace. If you have already thought of a name for your idea, then reserve the hell out of that name. Reserve domains, reserve twitter handles, facebook pages. They will come in use later when you are promoting.
  • Find a mentor – everyone usually has a relative who has his/her own business and have been running it for a while. Advice from experienced people is unmeasurable.
  • Recruit known people if you have to, ask friends to help out. Find a good designer or coder who is relatively new to the field and will freelance for a lot less money than people who are experienced. You will need to guide them at every step, but eventually it will be a worthy investment.
  • Very importantly, implement as quickly as you possibly can, and release a prototype in 3 months. I remember reading about the Urbanspoon story and it said the very same thing – if you don’t ship quickly, you will not make it.
  • Find partners. If there are people you know who are working in a similar field, partner with them. The value of finding the right partners is again unmeasurable. It will save you a lot of time, and help you get your idea implemented quicker.
  • Borrow money if required, but only from close relatives and friends as opposed to banks (who may harass you later if you screw up).
  • Once you’re implementation is complete, sell sell sell! Wear your brand. Be your brand. Promote the hell out of it! Tell your friends about it, tell your friends to tell theirs. Tell your parents to tell their friends about it. Keep pestering people to spread the word. Remember, word of mouth marketing still requires the right mouth! If you know journos, call them and tell them your story.
  • Don’t waste money attending startup conferences and traveling unnecessarily initially. Save all that for later.

Once you do all these things (and do them well) then you may be assured that your product/service is doing well (assuming the idea was solid in the first place!). If you start making money within the first year – awesome! If you don’t – no worries, keep persisting. In the mean time, make sure you have completed all the formalities pertaining to legal activities. Register your company, apply for a patent, copyright your name, register your logo, make sure your financials are in place, repay loans.

There are pros and cons to this method as you may imagine. The biggest pro is that this is a very hands on approach and you will thoroughly enjoy it every step of the way. You will love what you are doing and you will never regret anything (again, assuming the idea is solid in the first place!). On the other hand, the cons are the risk involved. If your idea isn’t as solid as you initially thought it was then you’re in a big mess and you’ve lost 2 years of your life. Hence the importance to write your business plan to iron out all wrinkles relating to revenue at the very outset.

The formal approach:

Onto the second approach. I call this the formal approach because it is not as informal and loose as the first approach. They are differentiated purely at what stage you would approach investors. If you’re bootstrapping, you would convince investors by showing them a prototype in action and in the formal approach, you will try to make an investor look at your idea how you see it. Here’s how:

  • Get a mentor to guide you on all the following steps.
  • Write a business plan.
  • Write an executive summary in one page. Say what pain points your idea solves and how.
  • Document your ideas about revenue sources and support it with relevant research.
  • Make revenue projections and expenditure forecasts. Calculate how much money you will be making in 3 years or even 5 years if you can think that far ahead. Take everything into consideration when you’re making expenditure forecasts. Keep a 50% margin even if you think you have it all measured out.
  • Do some market research. Identify your target audience. Talk to as many family and friends about the idea as you possibly can. Prepare a questionnaire and get random people to fill them. Make online surveys, put out polls, email all your friends. Get as much data as you possibly can.
  • Identify your competition. Think about competition in unconventional ways (a newspaper can be a competitor to an online local search engine).
  • Analyze your competition. Talk to your competitors if possible, send out emails to their CEOs. Find out how they go about things.
  • Compile, document and format. Make a presentation or write a whitepaper.
  • Prepare an elevator pitch. If your pitch cannot grab an investor’s attention in the first 10 seconds then there’s no way he’ll pay attention to the rest. Pitch your pitch to as many people as you can before approaching an investor. Constantly keep improving and practising your pitch. Find catchlines and tag phrases that will help push your idea in a more catchy way. Record yourself on your webcam and observe where you can improve yourself. Upload it to youtube to send it to friends who are not nearby.
  • And finally, when you’re going in for an investor meeting dress confidently and comfortably. Don’t unnecessarily wear a suit or a tie if you’re not comfortable in it. It’s not going to help you convince the investor any better than your words, actions and documents can.

That’s about it. The second approach requires you to have done your homework.

In this post I will not talk about how to find investors because that is simply out of the scope of this article. Maybe I will write about it when I do discover their secret hiding places. In this day and age there are a lot more people willing to take a detour from the beaten path and do something different. I hope this information will help people who are just entering the pool by themselves and give them a float so that they may learn to swim. Do add your own experiences in the comments. I am @sidv on twitter in case you want to start a conversation with me there.

NOTE: The thoughts above are purely my learnings over the last few years with regard to entrepreneurship. These learnings are put down here merely to help people starting out on their own.

This post is a direct consequence of the ridiculous drama that has been going on in the Parliament regarding a not so innocuous TV show which has taken the country by storm. The show in question here is called “Sach Ka Samna”, an Indian version of the American reality show, A Moment Of Truth. The Show is unique in its format, as it tests neither your intelligence nor your physical prowess, but your mental fabric and the ability to speak the truth, come what may. The game poses a series of questions ranging from personal to highly intimate, some of which might actually end up breaking relationships, for these questions are asked in  front of the very people you love, and the truth has to be spoken right on their faces, irrespective of the consequence. So, the format is simple, you answer 21 difficult questions, and if you speak the truth (the answers are verified by a Polygraph test), you win a handsome amount (1 crore Indian rupees in this case).

Now, rarely has a TV show generated as much interest among the common mass, as this one. And this is because people get to see someone from among them, come up on stage and blurt out their feelings on various topics which are considered taboo in our highly-vexed society.  Since few of the questions were a little uncomfortable, keeping in mind that even kids might watch it, the show was given a late-night slot by Star, so that only the adults in the house could watch it, without having to worry  about their kids, who would be in their dreamlands by that time.  Now the entire furore started when a moron, whom we hand-picked to represent us in the Parliament, raised his eye-brows regarding this non-controversial show. According to him, the show was destroying the moral fibre of the society. Strike one. He pointed out that since, there was a big difference in the cultures of India and United States of America, something that works in America might not work here. Strike two. He also went on to suggest that there should regulation of the content that goes up on the television. Strike three.

Before beginning my refutations, I would like to point out that I am not a big fan of the TV show either, but our revered MP was suggesting was absurd, bordering more on the ridiculous than anything  else.  Let me first provide a snapshot of some of the questions that were asked on the show.

  • This was asked to a woman. “Would you like to sleep with another man, if you knew that your husband wouldn’t ever find out about it?”
  • Urvashi Dholakia, a popular TV-artist, was asked, “Were you asked to drop out from college because of you became pregnant while still in college?”
  • Another popular TV artist, who apparently had 3 wives, was asked, “Have you ever visited a prostitute?”

Now these are few of the more personal questions that were asked on the show. Now going back to the refutations.

  1. The producers of the TV show or the Channel itself has not forced anyone to watch the show. They have not used any sort of the vulgar tactics that the politicians use to win seats in elections, like paying money in order to buy seats, in order to increase the TRP ratings of the show.  The show is not aired at the prime time slot (it is aired at 10:30 in the night). Now it is but common sense to avoid watching things that might not suit your palate, like a lot of people do not watch horror movies because they get scared after watching it and cannot even visit the loo to answer their nature’s call at night. But if you still insist on watching it, nobody is responsible for the consequences. So where does the question of destroying the culture come in here. If people are watching what they want to, and are mature enough to digest it, where is the bloody problem? And exactly what is it about the show that is destroying the fragile culture, which came into being much before you or I even existed. Is it the question regarding cheating on your partner, or is it about teen-pregnancy or something as basic an emotion as greed.  All this is very common in our day-to-day society, so why approach it with a closed mind still? And even if you do insist on approaching it with a pea-sized brain (as one of my friends would say) why emphasize and force your judgements on others, or worse an entire culture itself. This is all so relative for something which might disgust me, might actually appear interesting to someone else. So how does anyone decide, that this particular thing is vulgar and is breaking the moral code of the society. I say, blatant irrationalism.
  2. Agreed, that there is a big difference in the cultures of India and America. But are we trying to say that infidelity, teen-pregnancy, adultery exist only in America and not in India, and that they are not a part of our day-to-day society. I would only be kidding myself if I said yes to this superficial question. With changing times, the trends and patterns in our society have changed.  Adultery was looked down upon long back, but now a section of the society indulges in it. I’m not saying that it is the right thing to do, but then it is something that we have to learn to deal with and not shy away from.  Frequenting sex workers is something that is in a way Omni-present, for the Zamindars made it so famous and generations have continued it. So why raise a hue and cry if a person reveals that he did indeed visit a prostitute.  What is the big deal about satisfying your carnal needs (ironically the person in question already had enough resources to satiate his needs, but who am I to question). Without nit-picking too much, what I am trying to say here, is that there a lot of things that happen in today’s society that did not happen back in lets say the 60s or the 50s. So why cringe if people come out and talk about it. What is exactly the harm in talking about it? If talking about such things, breaks relationships, then it is the person
  3. Why should there be a regulation on anything that is not under the control of the Babus. Regulate content of Television, Media, and Films. Why?? Why regulate? Why not give the freedom to the masses to watch what they want to watch, to read what they want to read, to listen to what they want to listen. Why not ensure that the common masses have the means to these ends so that they can grow with the rest of the world, rather than being an end to these means itself. If someone needs regulations, it is these babus who make a mockery of our culture, who make a joke of our governing systems and who make a joke of the country itself. Every year, we see at least one video making it to BBC where they show the members of the House going on rampage, hitting each other with chappals, tearing each other apart, in short, making a fool of themselves and the people they represent. We need regulations for the self-anointed Moral Police which beat up women just because they dared to venture some god-forsaken pub. We should have regulations for these stupid political bodies that incite people to fight against their own kin only to fatten their vote-base.  Even if I were to be pragmatic here, how can there ever be regulations on TV, when there are already 400 channels that air shows 24*7. And even if there were a body to regulate all this still, it would have to be autonomous, for corruption has its roots spread out far and wide, which means an additional expense on the government again.

This debate can go on and on and even then there would be a lot of people who blessed with gift of the gab and the pen would write out suitable arguments to each of my points. But that is not my intention. What I intend to say here is, that the Parliament has bigger issues facing it than fighting over a stupid TV show.  Politicians have bigger tasks on their hands, like solving the drought and rain-crisis and deflation and what not than deciding what destroys our indestructible culture.  How can culture be destroyed, if it is we who form the basis of the culture?  As far as I know, I haven’t come across a book where-in the rules and various interpretations of Indian culture have been laid down, and as long as I am in my senses, I wouldn’t come across one in the future too.  So let us all urge our revered Babus to stop fretting over something which changes as we change(Read: Culture) and focus on important, difficult tasks on hand which might change the face of the nation in the years to come.


July 2009
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