Wednesday, December 23, 2009

Stay Hungry Stay foolish

Read the book stay hungry Stay foolish , found it really motivating, interesting and a must read for all budding Entrepreneurs. I have noted down the parts I liked most.


Naukri.com

Don’t do it for money, Do it for your Passion!

Don’t exaggerate the cash flows, under commit and over deliver

Be generous with stake sharing.

Employ people who are smarter than you or atleast smart.

Learn the art of delegation!

Funding is important, don’t hesitate on Venture Capital Funding.


Educomp

Look for Need Gap.

The scalability of the venture.

Even if your salary is 15lpa, in 5 yrs you will earn 50 lakhs after tax , If you run a business for 5 yrs , it will be in crores very easily.

Feed Back Inc

Apni Aukat mai kaam karo , check the level of risks you can take

Adequately capitalized

A complete team , competency Mapping

Don’t bother about the peer pressure , “ Koi phikr nahi hai apna kaam kar “ ?


Mastek

If you want to keep your friendship with your college buddies for life, start a firm in a partnership.

Choose a leader not based on shareholding, age but on trust, respect and competence.

Team with trust for each other.

Implemented Balanced score card and incentive schemes very early.

Get 4-5 years of experience; learn at somebody’s cost, get a bit of feel, financial stability and savings.

Don’t just think of it, don’t just wish for it, Jump in it and do it if you are really serious.

More than synergies of skill, synergies of attitude and values is more important.


Subhiksha

Join the company where you want to operate

Work for smaller companies to get the exposure to the nuts and bolts of the company.


Shree RENUKA Sugars

The kinds of jobs which comes on Campus are not suitable for budding Entrepreneurship.


TEGA

Don’t give it up half way.

Have patience during the difficult time.

Plan to put 50% more money than you have calculated .

For midsized company, don’t spread in too many geographies as the management focus will dilute.


Eklavya School ( Sunil Handa )

Can join a company for 2-3 years

Join a company which makes you a CEO of a sick unit, and gives you power to make it profitable

Or

Join a company which provides you opportunity to work fully on a new project from planning till implementation.

Or

Executive Assistant to the CEO , Promoter


Narayan Murthy – Give capital stake to people who add value to your company, not to attract capital.


Edelweiss Capital

As human we grossly overestimate the short term and underestimate the long term.

Financial literacy is very important to run a business.

Make a person head, with slightly more equity holding, not more than 4 partners. Equal partnership is not possible.

Don’t worry about temporary loss of status, money and address.


India Infoline

Be prepared to fail, if you can’t take failures, Entrepreneurship is not for you.

Work for a good medium to big size company before jumping, It helps.

Select a leader, having 3-4 equal share partner and looking for consensus is the worst thing.


EXL

Don’t start fresh out of college, spend some time in industry.

BE conversant with Finance, VCs don’t teach you that, you should know the finance well.


Orchid Pharma

Aim to create value, lasting value, no dearth of capital in the country.


Mphasis

Diversify wherever possible, as u can’t see the future.

Not be over emotional about your company

Important Traits – Networking, Risk Appetite and Luck!

Promoter has to spend lot of time with customer; sales people cannot match yr energy and passion.

As a small company you need to very transparent, refund the money yourself if you did a bad job.

Learn about networking, cash flows, loans, negotiations before taking a plunge in entrepreneurship.

Try to tell your negatives first in power point, than come to your positives.

Take customer reference (Written) to add value to your power point.


Precious Formals

Business plan can be made by anyone, but plans are not enough.



2 comments:

SiD said...

Very diverse or shud I cruelly say random views from a diverse set of people... expecting a post with 2 - 3 main ideas relevant to you!!!

Ankit said...

He he , I agree with you friend but I didn't wanted to kill any of these points by filtering.