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Why The Plateau of Mediocrity Kills a Startup

Failures don’t kill a startup. Mediocrity does.

In this era of startup boom, majority of the startups have been entangled in the web of mediocrity. They neither fail, nor do they grow beyond a certain level. While failure delivers a definitive result and success is a state which lacks any definition, growth is the only positive option that remains.

For a startup to remain active, one either needs a slanted growth wave or a sine wave with its fair share of ups and downs. It’s the plateau’d wave that kills the lot.

Growth Stages of a StartupContinue reading

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Pinstripe Suits, a Merc in the porch and month long vacations in the Caribbean. It’s almost certain that every single person who has stepped into Entrepreneurship might have atleast once thought of living such a life.

And though many do reach that prospect, it’s not overnight success.

It takes a brave person to start a venture on his own and an even braver person to keep it going. Sleepless nights, tight deadlines, living off on caffeine and adopting stress as your middle name; all happen to a startup entrepreneur at one point of time or the other. Finance is hard to come by and each penny knows its worth the way it rolls.

Depending on the industry, breaking even of revenue may take time or might happen from the first project forth. Growth may reach a negative stage at one point or might even flat-line. All these are part of the game. A game, which is nothing less than an intelligent gamble.Continue reading

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entrepreneurship

Addressing a gathering about Entrepreneurship has always been a touchy point for me. Neither am I a successful entrepreneur (yet), nor a very experienced one. Still, whenever am invited by the student community to take a session on Entrepreneurship, I am always glad to share my bit of experience, my failures, my mistakes. Because as far as I have learned, you only get inspired from winning stories. You need failures to learn stuff.

I was recently invited to KMEA College of Engineering to take a session on Women Entrepreneurship as part of their IEEE WIE activity inauguration. I gave the topic a good thought and actually decided to let go of the “women” portion. No bias to anyone meant. But if you ask me, men, women, dolphins, aliens…. no matter who gets into entrepreneurship, the issues and hardships faced are the same.

I’d say Mothers are the best entrepreneurs. They multitask things perfectly like all entrepreneurs do and take the biggest of calculated risks – bringing up a child! So, women finding it more difficult to be entrepreneurs, I don’t agree to that statement.

Following is my presentation from the hour long session I took at the college – on myths and facts of entrepreneurship. I really hope I did justice.

 

Myths about entrepreneurship : 

  • Entrepreneurs are born. Not made – totally disagree. Its all attitude and hard work. Not just inborn talent.
  • College dropouts make better entrepreneurs – not always. Though it has to be agreed that college dropouts give it their all as they have nothing to go back to if they fail.
  • Idea + Prototype = Start a Company – you need market analysis, building a great team, marketing and a million other factors.
  • Its easy money – never is!
  • I need to be a techie – not all entrepreneurs are techies. Identify if you’re a techie (who does the work), manager (who can get the work done) or entrepreneur (who has the vision to build the product/service into something scalable).
  • I must invent something new – was Google the first search engine? Was Facebook the first Social Network? It’s all about doing the thing right, keeping in mind the users.
  • Entrepreneurs are gamblers – they are risk takers, yes. But only calculated risks, not blind ones.
  • You are your own boss – nope. You’re actually at the bottom of the food chain. Clients, Customers, Vendors, Landlord, even the freaking Income Tax department is your boss!
  • Unlimited vacation – pffft!
  • My best friend is my co-founder – never mix friendship and business. You’ll be screwed. And at times, screwed Big Time.

 

Facts about entrepreneurship :

  • Your first idea will be wrong
  • Your friends and family won’t understand what you do
  • You’ll be broke at times
  • Don’t build your company only on one vertical
  • CXO posts don’t matter a S#!t. You’ll be the freaking delivery boy!
  • Customers/clients will irritate you
  • Your personal life will suffer
  • You’ll work 100 hours a week (or maybe even more)
  • There will be no one to congratulate you
  • Finding a good team/staff will always be a challenge
  • Negativity will be showered upon you

And, the focal point of entrepreneurship – Only YOU are responsible. Whether you succeed or you fail. Only you are responsible.

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how to start a social media agency

I have been running a Social Media Marketing/Content Marketing Agency for about 2 years now. Wouldn’t boast that all’s been good; have had my heavenly highs and my deepest lows. Stepping into a completely new field just because I fell in love with it might sound preposterous to some. But well, that’s how certain things are supposed to align up.

In retrospect, I can point out at least a million things about starting up a Social Media Agency, which, if I had known 2 years back, would definitely have helped me and my firm be in a much more enjoyable position than it is now. But, just as a good stuffed crust Pepperoni Pizza with double dose of cheese takes its time to be made up, all good things come in time. And with experience.

Hence, when I was invited to an Engineering College to handle a session on “How To Start A Social Media Agency”, I had already made up my mind on what would be the first things I would like to share. Also, I was told most of the students had plans of starting a Social Media Agency while -in/after college. This made it all the more clear to me on what I had to share.

My presentation from the talk is as –

For the loads of veteran digital marketers out there, and for the doyens of Social Media, I whole-heartedly welcome you to put in your suggestions on whether I have missed out on any part in the above presentation.

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Shirt Ironed. Check.

Shoe Polished. Check.

Hair neatly trimmed. Check.

Looking Smart. Always!

 

D-Day. My first official interview. And I wasn’t scared at all. Petrified would be the more suitable word.

So, with the interview scheduled at 1115 Hrs, I decided to get ready as soon as possible. BANG! Guests drop in. And then the usual procedure – Hai… Yes, Doing good…. No, not jobless… No, not planning to get married anytime soon…. Yes, will be going for higher studies… blah blah..

I keep staring at mom and the clock and then the guests.

9:45 – Having Tea

10:00 – Still having tea

10:15 – Breakfast

10:29 – Screw everyone. Am leaving.

And thus, well dressed, clean shaven minus a bulgan, shiny shoes and headsets on as usual, I cycle off to the destination. As I cycle, my mind races. What questions will be there in the interview? Will everything go fine? What if I screw up? Will the cycle as a means of travel be a negative? Should I speak in Malayalam or English? Did I brush well in the morning? Did I…… Darn!! Forgot the “AXE Effect”. Forgot to spray 😐

Other than a couple of gazillion eyes staring at this mad guy on a cycle and the police trying to figure out whether I was over the speed limit or not, everything went pretty normal. Oh, and there was the one ecstatic moment when I overtook a BMW #FeltLikeABoss

Did I mention the BMW was being towed away?

So, there I was at the destination. 1100Hrs. Phew, not late. Thank You Kochi City Traffic Police for keeping all the lights green.

As I entered the office and sat down below the fan, I realized I was sweating. So much with the looking good and all. Luckily, by 1115Hrs I was back to my usual look-good-no-matter-what self.

And then, just as clock struck quarter past eleven, a knock on the door.

Guy – “Sir, May I come in?”

Me – “Yes, please.”

Guy – “Good Morning Sir, you had asked me to come for an interview.”

Me – “Yes. Please take a seat.”

And thus began the first interview for interns at my firm. I didn’t know who was more nervous. Me or him. But luckily, I did well if I may say so. 🙂 . #ReallyFeltLikeABoss

What a Day!

Image Courtesy: PaulMillan.ie