“.” - Steve Jobs
Tuesday, February 16, 2016
Monday, December 28, 2015
This is one crazy year, my direction in career changed due to various reasons. During crazy year have been seen various paths (Investment arrangement, start-up consulting). Some of the learning's are documented here.
Usually, people think, start-up is the very straight forward journey. But after successive failures, you see the final success (if firm is still alive).
IDEAS - dime a dozen
There are many start-ups's are just following earlier start-ups or creating same models of facebook, Amazon, micro-soft, Apple, eCommerce and mobile applications.
A start-up should decide what is way forward?
What are we achieving by doing this?
If you can not innovate, it is better you ignore you startup idea.
It is learned, people chase wrong products, ideas, people, co-founders. You would need have all departments covered.
Business model first?Usually, people plan a journey and see pros and cons, before they start their journey. You need a road-map.
First and foremost thing is working on "business model canvas"
CEO's or founders to be connected with all departments. Rather than micro-managing plan all departments, plan for each department owned by each individual
De-centralization of the activities. Each every team should have daily check-points, rather than CEO or founders taking all responsibilties.
In start-up's it is essential to focus on each departments.
1. Product dev
5. Loans and investments
Simplest way of exit strategy:
Simplest way ........
There is no way ....................
Unless you plan one.
"Test Driven Development" VS start-up planning
In "Test Driven Development" you make/write one program, before that you write a test case to fail/Pass.
If a student fails the exam, he/she failed during the entire year. It is not that day alone. Planning for failure is the "fist step in " entrepreneur ship.
Unless you plan for an exit strategy, you will exit without a trace. Same is applicable for job/revenues. Planning one would always help.
Where are we travelling?
The pitch deck is a presentation (an elaborated resume of the firm) which is used in firm and investor connect. The last and final slide is "exit strategy".
In other words, what if fails?
In other words, what if fails?
- In general project management
- Risk mitigation is defined as taking steps to reduce adverse effects. There are four types of risk mitigation strategies that hold unique to Business Continuity and Disaster Recovery. It's important to develop a strategy that closely relates to and matches your company's profile
- Plan to risk from the beginning
General thought on exit:
1. It is always good to aim high.
2. Having planning at high is good.
why don't think an exit strategy???
Thinking "what if fails?" is actually good entrepreneurs strategy.
I am not PESSIMIST, if you are planning "Everything" well does not help anyway
1. You can not have 15 years (housing/Office) lease, thinking that your firm will become next FACEBOOK, GOOGLE, MICROSOFT.
2. Keeping it low is always good.
Hope this helps