Wake Up Dude!

Just recall the pre British era, our country was known as “sone ki chidya” (golden bird), why? Cos of many reasons including our immense wealth in terms of gold and diamond.Then came the Britishers and exploited us so badly that we still feel the pangs of suffering. Not only they drained our wealth but also played the heinous politics of dividing the society on various sectarian grounds. Now when we have managed to gain momentum on all front right from economic to political, the world is again looking towards us. When the global economy is finding it hard to recover from the worst ever recession and the pseudo economic power U.S. is reeling under severe financial crunch and unemployment the India is indeed shining. The economic activity simply seems to shift from us and Europe to Asia with two giants’ viz. India and china, roaring like never before. Sudden interest of U.S. in Indian economy and Obama visit to India should be analyzed critically. I think ‘All is not well “bhaiya….let me jot down few of my observations. 1. During his speech at the US-India Business and Entrepreneurship Summit held at the Trident Hotel in Mumbai on Saturday evening, Obama made it clear that America is keen on increasing commerce and business with India through trade and strategic investments. He said strategic investment not capital investment. 2. He also announced that 20 business deals worth $10 billion have been sealed with India. These deals, including the sale of Boeing aircraft to Spice Jet and General Electric engines for India's Aeronautical Development Agency (ADA), are expected to generate 54,000 jobs in America. Obviously he is concerned about the unemployment back home in America. So, both the deals are more pro America which is not equally or uniquely positioned for India. 3. While addressing the issue of American companies arriving in India. "Many see the arrival of American companies as a threat to small shopkeepers in India, however, it's a stereotype," he added. Describing India's middle class as the largest on the planet, Obama said that the US sees India as the market of the future. So they are targeting India as a market and there is nothing wrong in this but what is there that we are getting out of this? May be Jobs but I don’t agree with technology up gradation part cos Indian companies no more uses obsolete technology. Because they can’t sell their story in China, so obviously India is a soft target for ailing American economy. 4. The USA's exports to Netherlands are more than India even though the population of the country is less than Mumbai alone," he said. Ha, what is the point he is making here? Does he mean India should export more and more from America? But why do we need to do that we can grow and become self reliant? We have resources at our disposal, and then why not utilize them? But what he did not address was the concern of Indian corporate about his protectionist approach towards outsourcing. Just because it’s not in the interest of America he won’t take it up. His whole speech was prepared as if some selfish economist/strategist, who has come to revive his economy, is luring a potential target. I don’t see much positive for Indian economy coming out of his visit. But at least I hope that this should be an eye opener for us who are so obsessed with the western world. Time to look beyond, time to forge strategic alliance with China .I know it’s easier said than done but remember we have no choice if we want to lead the world we have to partner with the best. I bet you that this can be done with right political, diplomatic and economic approach.

The ex-Lehman banker who is making ice cream

When Carlo Del Mistro decided to quit his lucrative job in corporate strategy at Lehman Brothers in Canary Wharf to open an ice cream parlour in rainy London, his family thought he was crazy. “No one could understand why I wanted to leave the salary and security of my job at a blue-chip giant to sell ice cream in a cold country,” he says from the Notting Hill branch of his burgeoning London chain Gelato Mio, where a queue of hungry shoppers is snaking out the door onto Portobello Road. “But I couldn't find any decent ice cream in London. It was all pre-made with flavourings, not fresh. I knew how popular ice cream shops were in Italy and thought they'd work here. “I took a two-year sabbatical from Lehman rather than quitting — it was my back-up. I was supposed to go back last year, but by then, Lehman had gone bust, whilst my risky ice cream business was doing very well.” In two years, Del Mistro, 29, has built up Gelato Mio from a single store in Holland Park to a chain of four London branches. The others are in St John's Wood, Fulham and Notting Hill. Its ice creams are also served in top restaurants including Villandry. Last year, with two stores, turnover hit £700,000. It's expected to rise to £1.5 million this year with four. In fact, since Del Mistro dreamed up the business idea during a London Business School MBA which was funded by Lehman in 2007, Gelato Mio could have been one of the collapsed bank's last successful investments. But not everyone saw the potential from the start. Ice cream is a dramatically cyclical business. And while Del Mistro had no fear of a cash-flow chart that looks like an inverted ice cream cone — soaring in summer, ignored in winter — lenders were anxious. “It was 2008, the banks were running away from all business ideas, especially one involving a foreigner with no property in the UK opening an ice cream company,” he says. “Instead I started off with £25,000 from my savings and money from friends and family.” Next, the ice cream entrepreneur zipped around town researching a site on his silver Vespa, before inputting his research into a spreadsheet. “It was the banker in me,” he laughs. “I wanted the shop to be near a school, park, and Tube station, and have wide pavements. I put all the data into a model, and Holland Park came out as best, so I found my first shop there. “It wasn't easy. I was looking during the apex of the bubble for demand for property. Landlords were extremely picky about their tenants. I was turned down a few times. But now I've noticed some of those shops I tried to rent are lying empty.” In the early days, Del Mistro — who swears he eats three scoops a day, but has no belly to show for it — flew over a master Italian ice-cream maker for training in the best recipes. Now his team are experimenting with their own, including a World Cup competition pitting national flavours against each other. Pimm's of England and Nigeria's guava are doing well — despite both teams being knocked out of the real thing. The ice creams are made using just-in-time production. “Two days ago the strawberries from our strawberry sorbet were in the field, today they're frozen in a cone. We need the best quality to make sure customers come back,” Del Mistro explains. Now his business is established, it's easier to get the suits on side. “For the first time, I managed to get a bank loan this year. Lenders were wary because the restaurant industry was badly hit in the recession. They were terrified by the cyclical cashflow, but I showed them what I've done so far and eventually Royal Bank of Scotland agreed a £100,000 loan. Landlords are much happier to deal with me now they can see the existing branches doing well.” Next year, he plans to open another four branches in London and one outside of the capital. Being an entrepreneur in Britain is, Del Mistro says, easier than in Italy — “there everything is bound up with red tape” — but he finds business rates in the capital expensive, and laments the time it takes for planning applications to come through. “The council takes three months to decide whether you can have tables and chairs on the pavement, and the delays can hit business.” But that's not enough to send this ice cream entrepreneur back to banking. “The salary is definitely not as good, but I could never return,” he says. “In finance everything you do is intangible, there's nothing to show for it. Here, I see smiling customers enjoying the ice cream. It's a great way to make a living.”

NIche BIZ Idea

I was surfing the internet for some crappy BIZ ideaz and came across this awesome one : The billboard systems provide a new unique outdoor advertising format to reach audiences in any coastal location or waterfront event. “It’s the only product of its size and kind that works. It’s never missed since you have no visual competition out on the water” says Peter Fleck of Sliders Inc. Mitsubishi, McDonald’s, Disney, and Red Bull are just a few advertisers who have recently utilized bbi Display systems on the water. The products and mobile services provide a safer, environmentally friendly, and far less intrusive alternative to aerial banner towing. As a benefit for the consumer, the on-water floating billboards operate silently so there is noise for beach goers to endure. The signage is generally towed by small fuel efficient boats that minimize impact on the environment unlike noisy, pollutant spewing banner airplanes. In addition, the billboards operate at a maximum of 5 miles per hour outside the swim zone generally 300 yards off shore and do not pose any risk to the public. The advertiser benefits because the mobile medium provides longer exposure at a reduced rate. Since the units are portable, the out-of-home advertisements can be moved to various locations. The inflatable signs can simply be linked to create mega billboards of any length desired in 12′ increments. The current record is a 72′ long floating billboard however larger sizes are easily attainable. Additionally, the inflatable signs can be displayed statically or mobile as they may be towed by boats, jet skis, golf carts and snow mobiles.

CAMPUS STARTUP :The magic touch

Increasing numbers of start up are emerging from third-level incubation centres.

The halls of academia may once have been associated with dusty books and tweed-suited lecturers, but the third-level sector is building a new image for itself as a springboard for start-up companies.

In recent years, the majority of institutions have established campus ‘incubation’ centres.

These facilities are designed to foster entrepreneurship and provide a commercialisation route for research carried out at the educational institutions.

Start-up companies are typically provided with office space at a reduced rent, access to a wide range of support services and business mentoring.
Because they are located on campus, the companies can also have access to the next generation of skilled workers.

contd.To be or not to be an entrepreneur

well just a quick review of last post wherein i dealt with the  question  i.e. "WHAT MAKES ENTREPRENEUR ENTREPRENEURIAL?".....this post will deal with the seconnd and third  questions (u can refer last post for the questions i am going to answer or u will follow up in the reading )...happy reading  ....do post ur comments and feedback!


Nature of opportunities - creating them versus discovering them
You can either discover an opportunity that already exists (but has not been explored before) or create an opportunity. As an entrepreneur, your idea could fall into either of these two categories. The success of your startup and idea will depend entirely on how you execute your idea and not really on what type of opportunity it is. But understanding what type your idea falls into will definitely aid you in the way you execute it.
A discovered idea is independent of an entrepreneur. It is widely available in the market for anyone to pick up and execute. It is quickly, very quickly, imitable by the others in the marketplace. So if your idea falls into the ‘discovered’ category, you would need to really ensure that you are quick to market and have the right and deep skill sets and resources you need to gain a first entrant/leader position. Speed is the essence with such ideas.
A created idea is indigenous to the entrepreneur. He/she dreams up the idea and its execution will totally depend on how he/she develops it. These ideas are not easily imitable and they frequently change form and factor during their execution. The motivation level and the entrepreneur involvement is what will make these ideas successful or otherwise.
Crossing the entrepreneur chasm
So you have an idea. You even have access to some funds to see you through the uncertain times ahead. But how exactly do you go from idea to startup?

Most people who dream of becoming entrepreneurs encounter their first difficulty when they transition from ‘being just an idea’ to ‘starting up’. The difficult period in between these two stages is what is called the entrepreneur chasm. Most people either give up in this stage or fail to make it across to the other side. They have great ideas, funds, resources, etc - but their venture fails miserably as they don’t pay enough attention to the factors that make the initial startup succeed. The four important factors that can help you manage this transition successfully can be defined clearly - People, Operations, Finance and Dealing with Competition. The way you handle these four factors will determine whether you end up as an entrepreneur or just remain a manager.

To be or not to be an Entrepreneur

“Chaos and uncertainty - two things you must learn to live with if you want to be an entrepreneur”

“You have an idea or a maybe even a lot of them. But you don’t know where to start. You are confused.” “Then you can assume you are in the right place… you are fit to be an entrepreneur.”

• What makes an entrepreneur entrepreneurial? The difference between the managerial mindset and the entrepreneurial one
• Nature of opportunities - creating them versus discovering them
• Crossing the entrepreneur chasm - Steps/aids to cross the chasm
• The four important factors you cannot ignore while starting up - People, Operations, Finance and Dealing with Competition

Let me try to outline each of the above
What makes entrepreneurs entrepreneurial?
Most entrepreneurs start off knowing only one thing for sure and that is “they want to do something on their own.” Though they may have an idea for a product or service, they aren’t really sure what their end objective is. Their passion is more inclined towards pursuing an idea than a clearly set target or goal. They frequently encounter roadblocks, either of their own making or from the ecosystem, that make them change their mind, change their product or service, or even change their very basic idea. But they go on with their pursuit. This exactly, this state of chaos and uncertainty, is what sets an entrepreneur apart from others, from other ‘though-successful-but-not-on-their-own’ people, more widely called “managers”. The art of dealing with uncertainty is then what makes or breaks an entrepreneur. While a manager performs his best amidst rules, targets, and easily available resources, an entrepreneur flourishes in the very antithesis of these.
So if you have been wanting to start out on your own or have recently ventured into it but increasingly find yourself confused and frequently changing your stance, don’t be perturbed. This is the right way to start.
 
next few questions above will be taken up in next post ....happy reading ...do copmment and give ur feedbacks:)

writing a Business Plan(B plan)

For anyone planning  to participate in Business plan competitions or to start a new business  it is extremely important to know how to make a business plan. A proper business plan can insure the success of a business both initially and as it continues to operate. The business plan will usually include following  elements

• Business Description ‐ This should be a summary of your mission, vision,business opportunity, product / service and business model.
• Management ‐ Indicate why your team is ideally suited to capitalize on the opportunity discussed in the business description
• Company Background ‐ Describe the process that brought to you to discovery of the opportunity and assembly of the team.
• Technology/Proprietary Rights ‐ Describe the factors that will provide your company with significant competitive barriers to entry. This can include intellectual property, trade secrets, key relationships, etc.
• Marketing, Sales and Customers ‐ Describe the size, characteristics and key trends in your market. Who are your top customers (current and/or projected ‐ be very specific)? What is your value proposition to these customers?
• Competition ‐ Who are your primary competitors and what is your key competitive position?
• Estimated Financing Sought ‐ Amount e.g., 2 crore.Do mention some Rough idea of basis of this calculation.
• Current Stage Of Start-up – concept/prototype/investment/market etc.
• Resources Required ‐ Include resources such as facilities, number of employees, special licenses or major existing customer.
• Industry ‐ List the applicable industries (e.g., telecommunications, hospital information systems, system software, real estate, etc.
  

If the plan is to do business on the highly competitive Internet then the plan must include ways to bring traffic to the website. This may call for the use of a good Search Engine Optimisation (SEO) plan..

Learning how to make a business plan should also include setting up a good Contact Management System (CMS) in order to make sure that sales leads receive the proper follow-up and that a sufficient number of sales are actually being closed. This is true whether the sales involve products or services. The business plan must also include a good analysis of everything that needs to go into the day-to-day operation of the business so that all elements continue to function efficiently.