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How well do you know your numbers?

“Know your numbers’ is a fundamental precept of a business ~ Bill gates” You have the idea. You have the passion. A solid technical know-how of how to make your product. You know you are just inches away from disrupting the market with your idea. You know everything related to how to start a startup. Not an easy thing, when everyone you meet these days knows everything about disrupting the market. You finally are all set to launch your startup. Wait! How well do you know your numbers? (Please do not call me a party spoiler. I know i asked…

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How difficult is the transition from Employee to Entrepreneur?

The most difficult part of being a first-time entrepreneur who has just quit a job is to get out of the “employee” mold. A few days back you were busy working in a specific role as per the KRA provided to you. Suddenly, you have a role where there is no clear definition of what you have to do. What it takes to be an Entrepreneur, for an Employee is the transition of mindset. Obviously, the transition is easier said than done. In my first venture, it took me months if not weeks to leave behind The employee mindset. The…

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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…

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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 becoming 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 and get our salaries disbursed. As our business grew, I learned the constructive role a bank can play in our company’s growth. Banks definitely 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 the earning adversely. Banks can also help you raise a decent amount of money as an unsecured business loan….

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The Dark side of Entrepreneurship

One of my close friends convinced me to start my first venture. I was so intrigued by what is Entrepreneurship that I left a decent paying cushiony job as a programmer to test the waters of Entrepreneurship. Trust me. All the fuss about Entrepreneurs makes starting your own venture so tempting. Those were the days when leaving a job was the biggest crime that can be committed by a middle-class family person. 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…

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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 and 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. There are books written on how to outsource smartly. Benefits of Outsourcing. Tips to outsource, etc, etc but when outsourcing goes bad, the business built with the help of outsourcing is bound to go south. The pros and cons of IT outsourcing are widely debated. I outsourced most of my work via upwork. The cons outnumber pros of Outsourcing. The startup…