Flat, marriage and family – 3 reasons why young Indians don't turn entrepreneurs!

Dear Entrepreneurs,

If you are from India, have been a part of a regular middle class family and have even thought of starting something of your own, am sure you’d associate with the headline itself. Everything that I’ve mentioned below is based on true incidents. I don’t intend to hurt anyone here, still if you did, sorry about it! Getting to the point, straightaway!

Marriage:

About an year back one of my very close friends told me about a product idea. I liked the idea and told him I could work with him on that if he’s willing to seriously build it. His answer was – “yaar abhi job nahi chhod sakta, 6 mahine mein shaadi hai” [Dude, I can't quit job right now, getting married in 6 months]. Okay, get married but why do you want give up on an idea you believe in? Your girl will understand, won’t she?

Guess what? Obviously, he never build it and few months back I saw someone (very famous in the start-up community) roll exactly that product out and is quite close to getting funded too! Yeah, my friend’s “happily married”, barely at 27!

I know an entrepreneur who literally fights (or used to at some point) with his wife everyday just because she wants another kid and he doesn’t. His company has just come out of start-up mode and is heading towards being an SME. ”I have a 4 yr old kid and having another one now would take me 4 years back! I have been slowly planning the financials but this would mean I start planning all over again, save even more and take even fewer risks!” is what he said!

One of my ex girlfriend had started talking about marriage barely when we had graduated. I never denied marrying her but I used to tell her lets first achieve something, I want to do a few things in life, be a successful entrepreneur and all this might take a little time, there’s no point in getting married quickly and then allocating funds to expenses that could have been avoided at that age, but no, she wouldn’t listen! Of course, she’s happily married and I, having failed 2 startups in the past, am still building another startup! (I hope this post reaches you, lady!)

Oh! And that concept of getting your kids married at the right age => guys before 30 and gals by 26-27 max! I’ve always stressed, there’s nothing called such as a “right age” – why not just get married when you are ready – 25 or 32 – how does it matter? I hope you’re not thinking about that old shit about retiring and then marrying your kids before that <- actually="" is="" p="" problem="" root="" that="" the="">

Family:

Sorry to say, but the uncles and the aunts in our (normal middle class) families are the worst. They will keep asking your salary, some of them every single f***ing month. These relatives are probably the ones whose kids would have done “nothing” in their lives, graduated from some (worthless) A league institution in India and landed a fat paying job. And believe me these are absolutely good for nothing folks. If you are a startup guy, you already know that, don’t you  They would join a company through campus placement and would be too scared/complacent/useless that they would spend their entire life within that single organization – without even doing something innovative! These uncles would be happy to show the entire family that the ad in TOI today was done by their kid while all that ad would have is a bollywood diva holding a soap bar in her hand. That’s all you learnt in your fancy B School?

What’s the big deal in it? If I pay TOI that much, they will even publish a horse shit pic, they just want money! But no, these are the ones who are valued in your family! Whatever they say areGolden Diamond words. What’s worse is you are always compared to these dumb folks whenever you go to a family gathering. And most, all of them would look at you as if you are the piece of shit lying on the roadside.

To share another case, one such highly respected family member told me to look for a career in animation, back in 2007-08. Recently, I met him at another family gathering a few months back and he said “tum animation me kuch kyu nahi try karte?” [Why don't you try something in animation?] I was like…dude? You are still the same! Your thoughts are still stuck where they were 4-5 years back! By the way, this member is probably the highest respected person in my family and heads delivery at a multi billion (yes Billion) dollar enterprise and travels abroad every week. Yeah, (sadly) that’s what puts the stamp on his authority! Am quite sure even Steve Jobs or Bill Gates would have spent more time with their families at his age (and still earned much more if that’s what you want to hear).

Flat:

The other fantasy about middle class family people is owning a flat! I never get this point. I, really don’t! Why do they want your kid to buy a flat and then spend the rest of his life paying back the loan? Coming from middle class, we’ve never had loads of money to spend. So the way out always is to pay probably a 10th or even less initially and then take a loan for 60% for the next 15-20 years.

And is duly supported by our Financial system! Go and try to raise money for your startup and the same money for a home, you’ll know what I mean!

Once you have a loan on your head, that too a home loan, for not less than 40-50 Lacs, am sure you wouldn’t be willing to take a risk, would you? And that tension of repaying that loan! Anyways, there is very little probability that our kids would stay in that house for long. They’d go places, do stuff in life and make it big themselves! Actually this would connect with Rahul Dewan’s post where he talks how retired people should recede back to smaller towns and do great things. A brilliant thought by the way, go read that!

In another relationship, I told my girl that I don’t earn great right now and that I am trying to build a company and shared the vision. At first she appreciated my honesty but then within a few weeks she asked “Abhinav, hum ghar kab lenge?” [Abhinav, when will we buy a home?] That day itself I knew – she wasn’t the one! No wonder that relationship didn’t last long.(I am quite sure you’re reading this!)

I guess I’ve written, read ranted, too much already or else I won’t be allowed to enter my hometown the next time!

I realized most people, even though agreed to this, say its inconclusive. I must add this: The point is that people who can bear all these pressures and can still build a company, are the ones whom we call SUCCESSFUL!

To Your Success

- An article from http://abhinavsahai.com

Where to start

If you are interested and thinking of startup, Without Business knowledge or no coding, nothing to worry, we need to have only passion to do something useful\change the world.

For this we can have multiple answers for example:

• Collect your the ideas\Brainstorm those Hope this will helps Brainstorming Rules:
• Try to Learn about startup\topics you are interstesd by attending paid\free courses from various sources:

Stanford University - Free 

• For URL Please Click Here
• I am actively attending the below courses, Enjoying weekly assignments, Working with new team members across the world.
• Documents for data
• A Crash Course on Creativity By Tina Seelig, Stanford University
• Technology Entrepreneurship Part 1 By Chuck Eesley, Stanford University
• http://techventures.stanford.edu

Course Era - Free

• This consists of many courses from various Top university (Michigan, Stanford, etc)
• For URL Please Click Here 

Udemy -  Free & Paid

• This consists of many courses from various People\university (Crowd source)
• For URL Please Click Here 

EDX - Free

• This consists of many courses from various Top university (Harvard, MIT etc.,)
• For URL Please Click Here 

Please let me know if you have any other sources\course I have missed.

Innovation

India has an extraordinary history of developing other people's IP, but Now its our time to create and building our own.

That’s My Idea! How to Deal With Competition as an Entrepreneur

You have a brilliant idea. It’s a winner—you’re sure of it. You’ve told your friends, purchased the domain name, and written a business plan. But before you can take the next step, you discover that another company is already moving forward with a similar idea. Now what? Should you quit? Complain? Crumble?

Though it’s easy to feel defeated, let’s not to be too hasty. What if Richard Branson had come across British Airways and decided that he’d best not launch an airline? I, for one, would have been very sorry to miss Virgin Airlines come in and change the game.

The reality is, competitors will always exist—no matter what you do. So, rather than approach competition with dread, you should view your competitors as the impetus for innovation and fuel to do things differently (and better!). To help change your mindset, let’s bust some common myths about how to view and handle competition.

Myth #1: Ideas Are Original

Let’s start by clearing up this juicy piece of fiction. Truth be told, there are very few truly original ideas. This may sound depressing at first, but it’s actually very liberating. Once you realize the world is teeming with interesting nuggets of ideas just waiting to be infused with your own twists and insights, you can stop waiting for that cartoon-like light bulb moment—and start creating.

Think about it: Ideas don’t usually pop into your head out of nowhere—they often build on previous strokes of genius (yours or others’) or reinvent an existing idea in a new context. Even Newton’s legendary Law of Gravitation was the result of building on a combination of two of Galileo’s theorems: the Law of Inertia and the Law of Elliptical Path. The point of this is to say: Competition is inevitable—it’s how you deal with it that really counts.

Myth #2: Similarities Matter

With that misconception out of the way, let’s talk about what to do when you inevitably spy a competitor who’s already launched “your” idea. First, stay cool—resist the urge to wail about how unfair it is, and instead, define and sharpen what makes you different. Regardless of your industry, there should be at least one thing your company does with a little more something—more care, more passion, more simplicity, more humor—you decide! Once you find that point of difference, build it up, exaggerate it, and incorporate it into all you do.

For example, when I was writing the business plan for Never Liked It Anyway, I came across ExBoyfriendJewelery.com—a direct competitor. Rather than take that as my cue to give up, I saw it as a mandate to define my point of difference, which I decided was my cheeky and irreverent brand voice. So, I leaned into this attitude, dialed it up, and infused it throughout my business—from the brand name, to the marketing plan, to the site’s content. Everything about my brand had to scream “Sassy, cheeky, and moving on!” in order to set it apart.

When you spot a competitor, remember: Look for the differences—not the similarities.

Myth #3: Keeping Close Watch is a Good Thing

While it’s important to watch your competition and be aware of the tricks they have up their sleeves, make sure you stop short of stalking. I know it’s temping—but myopically focusing on competition is a big innovation killer. When your entire focus is on your competitors, you’ll start to believe that their innovations are the only possibilities for you and your company, too.

Let’s look at the world of instant coffee for a perfect example: Coffee Brand A adds flavor. So, Coffee Brand B follows suit. Then, Brand A launches mini-sachets—and Brand B does the same. This game of innovation ping-pong has everyone’s heads whipping back and forth so fast that both brands miss opportunities for potential new ideas. While Brand B was waiting to see what Brand A was going to do next, Brand C—also known as Nespresso—streaked ahead by inventing an elegant coffee system ready to deliver café-style coffee in your very own kitchen.

Yes, it’s important to keep an eye on the competition—but just one. The other needs to be looking beyond your competition for new insight and ideas.

Myth #4: Direct Competition is Your Only Competition

It’s easy to consider your competition as only companies that offer similar products. But in reality, your competition is much broader than that—it’s everyone and everything that competes for mindshare of your consumer. For example, if Listerine had felt bound by the bathroom cabinet and only seen other toothpastes, mouthwashes, and floss as competition, their innovations would have quickly grown tiresome. Instead, they considered their competition on a broader level—including handbags, breath mints, and candy. Ultimately, this unlocked the idea for Listerine Breath Strips: portable breath fresheners in a candy format.

Considering your competition on a broader level can be a great source of inspiration. Whether it’s a coffee store, app, boutique, or airline, you should be looking with a critical eye for sparks of inspiration. It’s perfectly feasible to imagine that Spotify drew inspiration from Netflix’s video streaming model and applied the same rationale to music, or that the Bike Shares in London (and now NYC) drew inspiration from Zipcar’s “access, not ownership” model. When you approach the idea of competition with an open mind, it suddenly moves from terrifying to exciting.

As entrepreneurs, let’s challenge ourselves to embrace competition and use it as fuel to innovate and move forward. The most successful entrepreneurs and companies make this way of thinking a habit. They frequently look for what’s out there—in a very broad sense—and see how they can take what they find and make it better and more meaningful for their customers. Not only is this a more stimulating and exciting approach to entrepreneurship—it’s also the most effective.

Nice article copied from below link.

 http://www.thedailymuse.com/entrepreneurship/thats-my-idea-how-to-deal-with-competition-as-an-entrepreneur/

Don't be afraid to Imitate

I was thinking on this idea, & also came to know Facebook got inspiration from Myspace, Apple got from Xerox, Microsoft products from Apple, Android from Apple etc.,

Below is a very nice inspiring article which talks about the same :)

Source :http://yourstory.in

Not all of us are good at coming up with brilliant new ideas. That doesn’t mean you can’t become a successful entrepreneur. Be a copycat instead. Yes, imitate. There is absolutely nothing wrong with taking an idea that works in one place or within one context, and doing virtually the same exact thing somewhere else or in a different niche.

A few geeks might look down on you and say you couldn’t come up with your own idea. But that’s stupid. I’d rather be a hugely successful entrepreneur with a non-original idea than a struggling entrepreneur with an original idea. If you want to startup, but you can’t think of a new idea, just look for ideas from the West or even around you. In India we’ve seen many clones do well:

Burrp was India’s Yelp (until Network18 destroyed it)
Ixigo is India’s Kayak
Mswipe is India’s Square
MakeMyTrip is India’s Expedia
Baazee was India’s eBay (eBay acquired Baazee)
So How Do You Actually Find Ideas?

You can either import an idea from the west, export an idea from India, or create your own niche.

i. Import something from the West

Read the tech and entrepreneurship blogs from the West and look for promising startups. But then consider the following filters:

a) Is their product geographically specific or limited?

You only want to import an idea if your iteration actually solves a problem that is geographical in nature. There is no point in being the KISSmetrics of India because there is absolutely nothing that is geographically specific about KISSmetrics. The Google of India is Google because there are no geographic borders to information. But the Expedia of India is MakeMyTrip because Expedia didn’t offer a product that worked for Indians. MakeMyTrip allowed Indians to buy domestic air tickets while Expedia didn’t.

b) Are you solving a problem that also exists in India?

Would you rather be the #1 dating site in India or the #1 matrimonial site in India? You have to decide whether the startup you are copying is actually solving a problem that is worth solving in India. In the West, dating sites are huge business. In India dating sites have struggled to survive. Don’t try solving a problem that doesn’t exist in India.

c) Is this idea already being copied left and right?

In early 2011, thousands of Groupon clones emerged all over the world. Unless you were quick to the ground and one of the first 2-3 clones in each country, you had no chance of sustainable success. You want to avoid copy pasting the most hyped startup ideas.

Bonus Tip: Don’t just look at the USA for startup ideas. Look at Europe, Asia, Africa, and South America too.

ii. Export an Indian Idea

There are many Indian startups that are solving uniquely Indian problems, right? Sort of. More likely they are solving problems that apply to many countries with a similarly low per capita GDP. Don’t be afraid to take an Indian idea and export it outside India.

Here are a few potential startup ideas that could be exported (a few may have already been exported or be too late to export – but at some point you could have seriously considered exporting any of the following)

Freecharge with it’s concept of “free” recharges. This idea could potentially work in many countries where the online recharge market is nascent and pre-paid is more common than post-paid.
Zipdial and the concept of missed call marketing. It’s such an easy way to create engagement between users and brands. Why can’t this work somewhere else?
Redbus and the creation of an online bus booking aggregator. I don’t think there was anything similar anywhere else in the world when they launched.
JustDial solving local search engine via call centers and an army of local salesmen. In the absence of mass Internet usage, local search is handled via telephone call center queries and/or text message. There are many other countries besides India where Internet use is minimal and likely to take years to get to massive penetration.
iii. Create a New Niche

Hot or Not was one of the earliest social sites to go viral back in the early 2000s. The site asked users to post a photos of themselves for others to rate their attractiveness on a scale of 1-10. Users who found each other mutually attractive could also be connected with each other.

I looked at the popularity of Hot or Not in the US and decided that while the site was addicting it was most likely to be enjoyed by white people. If you were of an Indian background in the US, you probably were equally as interested by the concept but much less likely to use the site because the chances of finding a mutual pairing on a site of predominantly white people was not very high. And being Indian you wanted to know how you fared in terms of attractiveness vis a vis other Indians ranked by Indians.

I seized on the opportunity and created an Indian Hot or Not site, RateDesi. At one point we were up to 25 million pageviews per month and were making a decent amount of money. We had taken a proven idea and adapted it to fit a new niche.

Many successful businesses have been created by taking an existing business model and tweaking it to work a different niche. Etsy is Ebay for artists. Zappos was the Amazon for shoes. Zomato is the Burrp for restaurants. LinkedIn is the Facebook for your professional life.

The one caveat to this approach is you shouldn’t choose a niche that is too small. An Indian Hot or Not site was not a scalable business, but I started that while I was in university and it was something I managed in my spare time. But if you are going to drain all your energy, money, and time into a startup, do at least choose a potential business where the returns on success are very large.

Final Thoughts

If there is only one thing you take away from this post it should be that there is no stigma attached to copying an existing business and finding a new home for it. It might feel like you are taking the easy way out and a few holier than though geeks might not appreciate your business, but remember ideas are a dime a dozen. It’s execution which is the differentiation factor.

Source : http://yourstory.in/2013/03/dont-be-afraid-to-imitate/

Want to be a Entrepreneur

As Steve Blank says "Get out of the Building" and ask customers for problems, try to solve it.

Try to read books as prescribed by Steve Blank from his website

This website has lots of information about Startups, videos.

Also the essays of Paul Graham(Y Combinator fame) are a great resource

Read Startup Books, Articles, Go to Meetups

Watch Videos like:

Go Be An Entrepreneur

Last but not least very busy in Facebook, try to read on Business Strategy

Still under construction.....To be continued......