New Valley West

Founders of entrepreneurial startups are most prone to run into following traps which are best avoided. 1. Run the streets without a plan. I have seen enough of them then taking turns as suggested by consultants standing all along the road. Its important to have a plan.....no matter you'll still change it. 2. Passion is all it takes. For the founder may be, but for the rest more things matter like office, safe drinking water, salary on time, work tools, training. 3. Did I say salary on time earlier. Let me repeat it anyways. Last thing you want to suggest to the newly hired professional is that you may not have money to pay. 4. Everyone knows where we are going and how. Communicate, communicate and keep doing that.....don't talk....put in place some amount of formal communication. 5. I'll do all the above myself. Don't even try, let the people you've hired do that. You freeze the policy, guidelines, limits, plan........and review sharp. But for your own sake don'

An excellent writeup and reflective by Ajit Balakrishnan (Founder, CEO - Rediff) - http://ajitb.rediffiland.com//scripts/xanadu_diary_view.php?postId=1175605247 Here he raises a very critical issue of the role that low-tech entrepreneur play in a vast majority of Indian businesses, and yet how vulnerable they are to market variations over which they have no control. And also the ironic divide between the elite graduates who come from the top Engginerring and Management schools as against the "commoners".

As the placement season in the most exalted b-schools in India (the IIMs) starts and reaches its full frenzy within a short span of hours, the aspirations and determination of all management aspirants reaches an all time high, with the fattest ever pay package laid in the platter. This is the time of the year when we get to view a glitzy spectacle which proves two things : firstly, the paradigm shift that India has experienced and how we have moved towards a veiw point which evaluates a management gradute solely on the basis of how much was salary package he/she was able to grab in the placements; secondly, our sheer passion and single point agenda of living a salaried life. The way I look at both of these, there seems to a paradox to me. Now since we live in a country of paradoxes, I have been tempted a number of times to ignore this, and follow the chalta hai law. However, now as I face the quarter life crisis and am in the process of confronting a number of issues and comming i

I dealt with this myth of it being risky working with startups just yesterday while attempting to hire a Brand Manager for a start up ofcourse. During the process, I felt there was a need to talk about it on a larger forum. Working with startups is almost no risk to begin with if it is post initial funding stage (entrepreneur might not hire a large team before that anyways). And if salary for over six months looks safe, its no worse than a job with big well established firm. What startups offer beyond salary can not be compared with any other opportunity. 1. One gets to work right under the creators or at arms length & the speed of work can put a formula one racer to feel humbled. Both speed and multitasking can give one an unparallel high. 2. Almost always one is in thick of things, doing, trying, missing, trying, doing, doing right, doing more. So when you're hired as Brand Manager, you'll never do less than that. Well you might double up for pantry manager is another t

For beginners, TiE can be a great network to get instant access and mentoring into the world of entrepreneurship. Mumbai chapter is pretty agrresive in frequency of events and active support system. Associate membership can be gained at nominal cost & can work well for aspiring enterpreneurs. One can find more info on www.tiemumbai.org

I was with an entrepreneur yesterday, when during various talks he mentioned how so many ventures seem to be under attempt right here in Mumbai. That Mumbai seems to be the new Valley was the outcome of the talk. Bloody romantic though, Mumbai - the New Valley. I added West to it (West coast we are indeed at Mumbai). So here's New Valley West - the city of dreams it had always been, its also now a city of different dreams, entrepreneurial dreams. Its got all from entrepreneurs, to professionals, to support system, to academia, to investors, to access, to the spirit. Lets put together what it takes for anyone to take off......