Thursday, November 21, 2013
Wednesday, November 20, 2013
Auction Website - ZLOKA.com
Saw a new site: http://www.zloka.com/
Interesting site from both buyers and sellers perspective. A Buyer would be able to get quality stuff for 80-90% discount. And the seller would be able to sell at about 80% of the cost.
So who is the loser?
The bidder who does not win is the loser. To bid, you need to buy Zloks which cost Rs 9.99. You need to use your Zloks to bid. So if you win by using just one Zlok, you are the ultimate winner
So would you call this an auction site or a gamble site ;)
Interesting site from both buyers and sellers perspective. A Buyer would be able to get quality stuff for 80-90% discount. And the seller would be able to sell at about 80% of the cost.
So who is the loser?
The bidder who does not win is the loser. To bid, you need to buy Zloks which cost Rs 9.99. You need to use your Zloks to bid. So if you win by using just one Zlok, you are the ultimate winner
So would you call this an auction site or a gamble site ;)
Monday, May 06, 2013
Business Ideas 1: Retailing
Retailing is an interesting concept with huge opportunities. Now the options to expand in retailing is to find the niche markets. Quick Service Restaurants are fast catching up with places like Frankies, Tibbs, Chai Point etc
But I do believe there are still more niche spaces such as chaat centres. Chaat is all time favorite for most Indians. But there are limited places offering hygienic chaat on a QSR mode. A chain of Chaat Shops would be the next idea to see soon ;)
Business Ideas
After returning back from Mauritius and having spent almost 7 years abroad, it has taken some time to settle and things to set in
But now when I look around, there is still huge opportunities all around us. Energy to take things forward and perseverance would take any idea to a profitable venture.
As I would be pretty much limited in terms of bandwidth (given the firm that I have to run with my friends) thought of having ideas put up on fb so that same could spark an idea among others.
But now when I look around, there is still huge opportunities all around us. Energy to take things forward and perseverance would take any idea to a profitable venture.
As I would be pretty much limited in terms of bandwidth (given the firm that I have to run with my friends) thought of having ideas put up on fb so that same could spark an idea among others.
Friday, October 26, 2007
5 common mindblocks against entrepreneurship
This is from Economic Times of 25th October:
TO EVEN those with a strong urge to start their own business, it seems ludicrous to give up a job in a comfortable atmosphere, with full benefits and generous bonuses. The fact is, it’s still a job — and you still wonder, every day, what it’d be like to work for yourself, not someone else. The following are the five common mental hurdles you must leap over to realise your dream.
You don’t have a lot of money in the bank
That’s a very good reason to shy away from quitting your job, isn’t it? But that just means you need to get a financial plan together. Consult with a financial planner who can help you map out personal and business finance goals. Some local colleges and community centres even offer workshops and classes on financial planning, usually at a minimal cost, so take advantage of them.
Someone mentions the words “business plan” to you, and you stare blankly
A business plan is not the be-all, end-all of starting a business. But it’s pretty important. Some think they don’t need a business plan if they aren’t planning on seeking financing from outside sources. But even if no one but you ever sees your business plan, it’s still important. It helps you put your goals in focus and create a written plan of action for your business. It’s almost like a detailed to-do list. Plus, you never know where your business will take you. You might get started and find out you need more money than you thought, and that’s where that handy business plan comes in.
You don’t know anything about bookkeeping
Go ahead and admit it—it’s very freeing. Admitting you don’t know everything will only make you successful later, because it means you’ll have the courage to ask for help. Get all the advice and mentoring you can at this stage. There’s no shame in consulting with an accountant, an attorney, a long-time veteran in the field, and so on.
You’re not sure you have the dedication it takes to stick with it
There’s a simple way to solve this problem: Don’t start a business doing something you don’t like. If you hate getting up early, starting a coffee shop or a bakery is not for you. If you get impatient around children, don’t start a child-care centre or anything else kid-related. You have to love what you’re doing when you start a business, or you will not stick with it. It's no different than working in a job you hate.
You’re afraid of selling
That’s a big one, because if you’re an entrepreneur, you’re also a salesperson—that is, unless you figure out a way to bring a top-notch salesperson onto your team from the get-go. Chances are, you don’t have the money for that yet, so perhaps a better alternative is to psych yourself up to sell. If you believe in your product or service, you’ll find the confidence to sell it.
Now quit stalling, and get to work. You’ve got a business to start. (Adapted from Microsoft’s Small Business Centre website)
TO EVEN those with a strong urge to start their own business, it seems ludicrous to give up a job in a comfortable atmosphere, with full benefits and generous bonuses. The fact is, it’s still a job — and you still wonder, every day, what it’d be like to work for yourself, not someone else. The following are the five common mental hurdles you must leap over to realise your dream.
You don’t have a lot of money in the bank
That’s a very good reason to shy away from quitting your job, isn’t it? But that just means you need to get a financial plan together. Consult with a financial planner who can help you map out personal and business finance goals. Some local colleges and community centres even offer workshops and classes on financial planning, usually at a minimal cost, so take advantage of them.
Someone mentions the words “business plan” to you, and you stare blankly
A business plan is not the be-all, end-all of starting a business. But it’s pretty important. Some think they don’t need a business plan if they aren’t planning on seeking financing from outside sources. But even if no one but you ever sees your business plan, it’s still important. It helps you put your goals in focus and create a written plan of action for your business. It’s almost like a detailed to-do list. Plus, you never know where your business will take you. You might get started and find out you need more money than you thought, and that’s where that handy business plan comes in.
You don’t know anything about bookkeeping
Go ahead and admit it—it’s very freeing. Admitting you don’t know everything will only make you successful later, because it means you’ll have the courage to ask for help. Get all the advice and mentoring you can at this stage. There’s no shame in consulting with an accountant, an attorney, a long-time veteran in the field, and so on.
You’re not sure you have the dedication it takes to stick with it
There’s a simple way to solve this problem: Don’t start a business doing something you don’t like. If you hate getting up early, starting a coffee shop or a bakery is not for you. If you get impatient around children, don’t start a child-care centre or anything else kid-related. You have to love what you’re doing when you start a business, or you will not stick with it. It's no different than working in a job you hate.
You’re afraid of selling
That’s a big one, because if you’re an entrepreneur, you’re also a salesperson—that is, unless you figure out a way to bring a top-notch salesperson onto your team from the get-go. Chances are, you don’t have the money for that yet, so perhaps a better alternative is to psych yourself up to sell. If you believe in your product or service, you’ll find the confidence to sell it.
Now quit stalling, and get to work. You’ve got a business to start. (Adapted from Microsoft’s Small Business Centre website)
Wednesday, October 24, 2007
Business Idea - Scan Photo Albums onto DVD
With the advent of technology, everyone would like to have their photos scanned and stored in a CD / DVD. BUt the problem is the time to do so.
Any one with a scanner and a computer with a CD or DVD burner could offer this service. You could offer to come by and pick up the albums and then return a few days later with the CD/DVD and albums.
The service could be advertised through internet or flyers at the local supermarket. This would be a good weekened business as well as ideal home based business
Any one with a scanner and a computer with a CD or DVD burner could offer this service. You could offer to come by and pick up the albums and then return a few days later with the CD/DVD and albums.
The service could be advertised through internet or flyers at the local supermarket. This would be a good weekened business as well as ideal home based business
Tuesday, October 23, 2007
90 Day Rule
I would say that "90 Day Rule" is one of the most interesting concepts for a new business. I noticed two different definitions for the 90-Day rule in the business world:
1) Whatever you do today, you’ll see the benefits 90 days from now. If you wonder why your business is floundering now, look back and see what you were doing 90 days ago.
2) In the start-up world of Silicon Valley, an entrepreneur designs a concept, builds a product, tests it and takes to the market within 90 days otherwise he will be dead because 25 other people are thinking along the same lines.
Put in other words, the concepts can be applied based on the business line you are in. If you are into sales & marketing, the first definition would be applicable. Every prospecting that you do today would be bear fruit in 90 days. Hence a continuous prospecting would lead to a never-ending pipeline of business. Same goes with blogging and the income that you would gain from the same
The second definition is more suitable for Business Heads, entrepreneurs and strategists. The market is a very competitive world. The moment you start a new initiative there is someone out there who is building a similar thing. Hence the speed to market plays an important role on how you would build your business. This is applicable for all business lines and not just to technology. ICICI Bank is the best example of using this concept in all their product launches and making big returns with the same
1) Whatever you do today, you’ll see the benefits 90 days from now. If you wonder why your business is floundering now, look back and see what you were doing 90 days ago.
2) In the start-up world of Silicon Valley, an entrepreneur designs a concept, builds a product, tests it and takes to the market within 90 days otherwise he will be dead because 25 other people are thinking along the same lines.
Put in other words, the concepts can be applied based on the business line you are in. If you are into sales & marketing, the first definition would be applicable. Every prospecting that you do today would be bear fruit in 90 days. Hence a continuous prospecting would lead to a never-ending pipeline of business. Same goes with blogging and the income that you would gain from the same
The second definition is more suitable for Business Heads, entrepreneurs and strategists. The market is a very competitive world. The moment you start a new initiative there is someone out there who is building a similar thing. Hence the speed to market plays an important role on how you would build your business. This is applicable for all business lines and not just to technology. ICICI Bank is the best example of using this concept in all their product launches and making big returns with the same
Monday, October 22, 2007
Book Review - The Starbucks Experience
Currently I am reading the book "The Starbucks Experience: 5 Principles for Turning Ordinary into Extraordinary" by Joseph Michelli. This is a very interesting book giving details of five principle followed by the Starbucks staff - starting from the CEO to the Partners (the Baristas).
The book covers day-to-day incidents in Starbucks on how they handle various scenarios that a business could face. The most interest principle I found was "Embrace resistance". Very few corporate in today's world would take a resistance and make it a business opportunity. Examples varying from taking note of community feelings to quick response on complaints / suggestions have been mentioned. Starbucks is a true example of the phrase: "A TRUE entrepreneur is one who sees opportunities where others see problems". Each Partner is trained to owned the company and hence be an Entrepreneur in his / her own right
The five principles of Starbucks (according to Joseph Michelli) are:
Michelli believes that Starbucks is guided buy five principles that make the business successful:
1. Make it your own: all people in the organization feel a true sense of ownership and believe that they have a stake in the success of the company.
2. Everything matters: What goes on behind the counter is just as important as what customers see. Cleanliness, atmosphere, a desired product, customer service, are all important and no detail should ever be overlooked.
3. Surprise and delight: Using as an example the success of Crackerjacks as a snack that people enjoyed that also caught them by surprise when first introduced, Starbucks tries to have new and innovative ways to attract new customers and keep committed customers interested so that the business never becomes static.
4. Embrace resistance: Starbucks, unlike many businesses, does not rely on good public relations to be rid of problems and criticisms. Instead, Starbucks tries to engage in discussions with its dissenters to convince where it's necessary and change when change is what is necessary.
5. Leave your mark: Making money may be a goal of any business, but businesses also have a responsibility to contribute to the greater good. Starbucks does this through financial transparency, involvement in the community, a commitment to making sure that its suppliers are justly paid, and delivering a quality product.
Overall a good read for someone who wants to practice a culture of entrepreneurship and service quality in their enterprise
The book covers day-to-day incidents in Starbucks on how they handle various scenarios that a business could face. The most interest principle I found was "Embrace resistance". Very few corporate in today's world would take a resistance and make it a business opportunity. Examples varying from taking note of community feelings to quick response on complaints / suggestions have been mentioned. Starbucks is a true example of the phrase: "A TRUE entrepreneur is one who sees opportunities where others see problems". Each Partner is trained to owned the company and hence be an Entrepreneur in his / her own right
The five principles of Starbucks (according to Joseph Michelli) are:
Michelli believes that Starbucks is guided buy five principles that make the business successful:
1. Make it your own: all people in the organization feel a true sense of ownership and believe that they have a stake in the success of the company.
2. Everything matters: What goes on behind the counter is just as important as what customers see. Cleanliness, atmosphere, a desired product, customer service, are all important and no detail should ever be overlooked.
3. Surprise and delight: Using as an example the success of Crackerjacks as a snack that people enjoyed that also caught them by surprise when first introduced, Starbucks tries to have new and innovative ways to attract new customers and keep committed customers interested so that the business never becomes static.
4. Embrace resistance: Starbucks, unlike many businesses, does not rely on good public relations to be rid of problems and criticisms. Instead, Starbucks tries to engage in discussions with its dissenters to convince where it's necessary and change when change is what is necessary.
5. Leave your mark: Making money may be a goal of any business, but businesses also have a responsibility to contribute to the greater good. Starbucks does this through financial transparency, involvement in the community, a commitment to making sure that its suppliers are justly paid, and delivering a quality product.
Overall a good read for someone who wants to practice a culture of entrepreneurship and service quality in their enterprise
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