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4 Least Favorite Startup Hiring Tips

What is the favorite startup hiring tip you received from your mentor? Other than the few gurus I meet here and there, I have never had an official mentor. From what I heard, read, analyzed and learned, the favorite startup hiring tips shared by all “Entrepreneur – HR Managers” are: Share your vision of success Hire the best in business Don’t compromise on quality Groom the talent Hire multi-taskers Blah-2 I have been a part of multiple startups. (most of them failures. Now how many times do I have to repeat it :). It has become such a mundane thing…

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How to choose the right Business Entity for your Startup

Almost every new entrepreneur I meet is confused about the type of business entity they should register their startups as. We rely on the advice of our CA and tax advocates to guide us through the process. There are times, the advice of the “learned” Advisors might be just opposite to what your business actually needs. My first venture was registered as a proprietorship firm. I still remember my CA advising me to start a proprietorship firm and then register a private limited or a LLC, once the business has picked off well. When I look back, I can say with confidence “It was…

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Why are the Startups targeting “the 15 billion Dollar” food ordering Industry struggling?

Food Panda’s investors Rocket Internet have been struggling to find a buyer for the startup. The rumors (do we still trust them? 🙂  ) are, there are no buyers even at a price of USD 10 million. Yes. You read it right. The same startup which raised USD 300 million a year back is on sale at a price tag which is 30 times less than the last funding they received. The story is shocking, as Food Panda had acquired Just Eat’s (a uk based startup) India operations  and Tasty Khana sometime back. Tiny owl’s story is a stuff of legends….

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What is holding you from being an Entrepreneur

I was in the mid-20s when I started my first venture. The fear of starting something new without a plan was a major challenge. The comfortable job. The stable future. The decent salary. I was to leave everything for pursuing a journey which was unpredictable. I was to leave everything for pursuing a journey which was unpredictable. Was I scared? Yes. I was. Especially, when we had a bad start to our journey. Had it not been for some backing from my father in initial years of my business, I would have quit sooner than expected. All I had with…

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How Banks could help your Startup grow

The Banks are an indispensable part of  startups and small businesses. When we started our venture, Banks for me Was a place to do our transactions, apply for loans and get our salaries disbursed. As our business grew, I learned the constructive role a bank can play in our company’s growth. But banks have a bigger role than you and I can think of in helping you grow. A good exchange rate from a foreign client can increase your earnings. While undue charges from banks can affect your earning adversely. Banks can also help you raise a decent amount of money as an unsecured…

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The Dark side of Entrepreneurship

One of my close friends convinced me to start my first venture. I left a decent paying cushiony job as a programmer to test the waters of Entrepreneurship. Those were the days when leaving a job was the biggest crime for a middle-class family boy. The marriage stocks would plummet. Family standing would go down. Everyone would talk behind your back on your foolishness. How naïve could you be to leave a job in an IT Company? We leave our jobs out of frustration, salary issues, family issues and many other reasons. I hated coding but it was not a reason big enough…

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How do Entrepreneurs handle Failure?

Success has many fathers but Failure is an Orphan. And in the mean world of business, failures are not rewarded. They are looked down upon. Frowned upon. “The National Venture Capital Association estimates that 25% to 30% of venture-backed businesses fail.” “according to U.S. Census data, only 48.8 percent of the new establishments started between 1977 and 2000 were alive at age five.” This is for small businesses. The failure rate is much worse than for “startups”. The irony in the above statement is. They do not even have a number for failures in startups. They have left us to our imagination.  We…

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How 3 Outsourcing mistakes led to Closure of my Startup

Rank My leader was my dream startup. The single platform to allow all political leaders to be evaluated real-time based on news. The web portal failed because of some blunders I did while outsourcing almost all work of the portal. I outsourced most of my work via upwork. The cons outnumber pros of Outsourcing. The startup tanked miserably. It left me with few bruises affecting my confidence, finance and risk taking ability. The lessons learned were many. The ones which left an impact were “How not to Outsource” Outsourcing is not simple. The hype around how outsourcing can save time, money…

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3 Reasons Why Startups should Bootstrap

Indian Startups had a stormy start to 2016. The Unicorn startup in Indian Startup Space, Flipkart was de-valuated by few investors. This was followed by closure of another famous grocery delivery service PepperTap. (what went wrong with Indian startups in last 1 year) The lessons from the storm were many. But there was none stronger than the most fundamental rule of startups. “Startups should bootstrap. Get some traction and then get an Investor”. Burning Cash on Customer acquisition maniacally will lead your startup anywhere. Our Startups forgot the basic fundamental of business. Hence, the turmoil. For a startup, Bootstrapping means…

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Can Entrepreneur afford “Comfort Zones”?

 “Life begins at the end of your comfort zone.” – Neale Donald Walsch What is a Comfort Zone? Brown describes it as “Where our uncertainty, scarcity and vulnerability are minimized — where we believe we’ll have access to enough love, food, talent, time, admiration. Where we feel we have some control.” (source : Wikipedia.com)  How is Comfort Zone created in the professional world? Our professional lives make us perfect in what we do. Programmers code | Sales guys sell | Accountants handle accounting. The whole routine of our professional life is repetitive and to an extent mundane. Inadvertently, without us realizing we start living a…