Tuesday, February 24, 2009
Startup Lessons - So you have an Idea now What?
So you have and Idea. You think you can do something that can make a difference while creating value for your self and other.
Questions to ask Yourself:
A. Is this Idea a business or a Social Cause?
If your idea has no way of making money at least for the next 5 years then its not a business. It may be a good cause and you
can get a couple of volunteers to get excited and work on it in their spare time. But ITS NOT A BUSINESS IF IT CANNOT MAKE
MONEY. yes all caps were required. Its ok to work on a cause. But dont tell yourself that you are running a business if your arent.
Examples:
1. A nice widget that will help you post to any networking site great cause. No way to make money from it ? not a business,
2. Selling exotic pancakes for a buck more. Makes people happy but its not for free. You make money from it ? could be a business
B. Can your Idea Grow. Or is is destined to be a dwarf
So you may still be in your room with nothing more than a vague idea. But fast forward a few years. How will this idea evolve. Some
ideas are so specific in nature that they may not be able to grow big. Example: A Pet Store could be a good lifestyle business. But unless
you have something really unique that other pet stores dont, the idea may not grow very big. So speak to there people , and discuss them why
your idea can grow. Discussions help you identify opportunities and pitfalls that you overlook yourself.
C. Are you in love with the Idea enough to take the Plunge.
Lets face it Rome was not built in a day and niether will your startup. You will have to stick with it over the next few years through the thick and thin.
You will face a thousand people you think it will not work . And some time you will question yourself if its going to work or not. Do you love it enough?
D. It all seems right but Wait. Lets do the numbers
A business plan is your next step. The business plan is essential for helping you think through the idea . It is more required for your understanding
than for anyone else. Before you begin the business evaluation set your objective. The purpose of evaluation is to figure out if the idea can become
a good business . Your job is to get enough data to help you evaluate. If you idea is not a good business then try to make it a good business by
rethinking the idea. If it still does not work then it can still be done as a hobby right? . So be very objective . Dont get emotional.
Questions to ask Yourself:
A. Is this Idea a business or a Social Cause?
If your idea has no way of making money at least for the next 5 years then its not a business. It may be a good cause and you
can get a couple of volunteers to get excited and work on it in their spare time. But ITS NOT A BUSINESS IF IT CANNOT MAKE
MONEY. yes all caps were required. Its ok to work on a cause. But dont tell yourself that you are running a business if your arent.
Examples:
1. A nice widget that will help you post to any networking site great cause. No way to make money from it ? not a business,
2. Selling exotic pancakes for a buck more. Makes people happy but its not for free. You make money from it ? could be a business
B. Can your Idea Grow. Or is is destined to be a dwarf
So you may still be in your room with nothing more than a vague idea. But fast forward a few years. How will this idea evolve. Some
ideas are so specific in nature that they may not be able to grow big. Example: A Pet Store could be a good lifestyle business. But unless
you have something really unique that other pet stores dont, the idea may not grow very big. So speak to there people , and discuss them why
your idea can grow. Discussions help you identify opportunities and pitfalls that you overlook yourself.
C. Are you in love with the Idea enough to take the Plunge.
Lets face it Rome was not built in a day and niether will your startup. You will have to stick with it over the next few years through the thick and thin.
You will face a thousand people you think it will not work . And some time you will question yourself if its going to work or not. Do you love it enough?
D. It all seems right but Wait. Lets do the numbers
A business plan is your next step. The business plan is essential for helping you think through the idea . It is more required for your understanding
than for anyone else. Before you begin the business evaluation set your objective. The purpose of evaluation is to figure out if the idea can become
a good business . Your job is to get enough data to help you evaluate. If you idea is not a good business then try to make it a good business by
rethinking the idea. If it still does not work then it can still be done as a hobby right? . So be very objective . Dont get emotional.
Monday, February 23, 2009
Startup Lessons- Beginning of a Series
Having Founded Storrz , I realized that there was a lot they never
taught at any school that was essential to get yourself a going as an
entrepreneur.
I am sharing some of these thoughts in the next few posts. These are my
experiences and there may be more stuff that one needs to know.
The idea of this series is simple. Share/Record some of the learnings
for myself and the rest of the world. If these posts helped you in your
startup then these posts have achieved their goal.
taught at any school that was essential to get yourself a going as an
entrepreneur.
I am sharing some of these thoughts in the next few posts. These are my
experiences and there may be more stuff that one needs to know.
The idea of this series is simple. Share/Record some of the learnings
for myself and the rest of the world. If these posts helped you in your
startup then these posts have achieved their goal.
Thursday, August 28, 2008
So what is Social Shopping ?
This is an simple presentation on what Social Shopping is
Provided Courtesy Storrz Social Marketplace http://www.storrz.com
Provided Courtesy Storrz Social Marketplace http://www.storrz.com
Friday, August 03, 2007
Beta Launch ! Hurray
Beta Launch ! Hurray
August 4th, 2007 by justondemandI am glad to announce the Beta launch of the Storrz.Com Local Mall.
view the official blog of www.storrz.com at http://storrz.wordpress.com/What is Storrz.com
Storrz.com is an online mall. Just like your neighbourhood mall Storrz brings together the best brands and stores around you. 24hrs of the all days in the year and just a click away from where ever you are. Our integrated delivery team ensures that you reciece your stuff within one day of ordering and most of the time on the same day that you placed your order.
When you think about it most of the stuff you shop for is from you city, from stores around you and stuff that you require on a regular basis. So instead keeping wired stuff we decided to bring the most basic stuff that you require. Today you can purchase everything from groceries to cookies in the mall and have them home delivered within one working day.
With Storrz.com Online Shopping is now Real and Mainsteam
A Few Stores
A few of the Stores that you can shop from at Storrz are listed below, This list will grow remember to visit www.storrz.com for the latest list
- Namdharis Fresh - Groceries
- MTR - Ready Foods
- Cookieman Fresh Australian Cookies
- Value Mart - Home Needs
- Pedigree Pet Foods
- Art Of Living Media and Books
- Indus Tree carfts Designer furniture
- Dr Morepen Health Care Products
And More
Cheers,
Chandan Maruthi
Storrz.com
checkout a list of products at storrz here Storrz items
Tuesday, February 13, 2007
SPAM
I am writing this note just at I set off the anonymous blog comments option on blogger.
I left the anonymous comments option earlier on so visitors could leave comments without any bias. But off late I am being hit with Blog Comment Spam. Yes, Even Blog comment SPAM . It is really awful
Offlate I am noticing that SPAM is growing .
Today I avoided 2 calls suspecting it to be from a tele sales person. We usual delete all mails in the SPAM folder and our respect for real sales persons has hit the low point. These are the cauatilities of SPAM. And like any other problem , the solutions SEEMS to be a impossible.
So whats the catch. Just like Digital Music and S/W Licensing. SPAM in all its forms can and has to be prevented. I guess we need a combination of strict government regulations with technology tools to keep SPAMMERS at bay and make spamming seem bad.
At the end of the day, all SPAMMERS are trying to trade something legally. And that is the point that can to be targeted.
I left the anonymous comments option earlier on so visitors could leave comments without any bias. But off late I am being hit with Blog Comment Spam. Yes, Even Blog comment SPAM . It is really awful
Offlate I am noticing that SPAM is growing .
- We started getting automated calls from computers that played audio ads.
- There is SMS spam for all events and occasions.
- Then More Sales people continue to call for credit cards, loans etc etc etc. And not to forget,
- Email spam. Its a surprise its still there . still an issue and no real solutions out there.
- UnSolicited Emails that seems like personal mail from recruiters, agencies etc
- Blog Spam [Advertisers pretending to be bloggers]
- Blog Comment Spam [The subject of this note]
- Website Name Parking Spam [Ahh ! have you tried to get a internet domain name]
- Search Engine Spamming .... and more
Today I avoided 2 calls suspecting it to be from a tele sales person. We usual delete all mails in the SPAM folder and our respect for real sales persons has hit the low point. These are the cauatilities of SPAM. And like any other problem , the solutions SEEMS to be a impossible.
So whats the catch. Just like Digital Music and S/W Licensing. SPAM in all its forms can and has to be prevented. I guess we need a combination of strict government regulations with technology tools to keep SPAMMERS at bay and make spamming seem bad.
At the end of the day, all SPAMMERS are trying to trade something legally. And that is the point that can to be targeted.
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