Author Archives: Harinath

Microplace

Microfinance is a very popular term and it has become a very lucrative business for many organizations. However, there is a lot of difference between banking institutions having a microfinancing arm and an NGO working towards providing micro loans to people below the poverty line. There have been innumerable discussions on this topic and the whole practice depends on how it is utilized.
On one hand, providing micro-loans to people below the poverty line in groups, provides an opportunity for them to build up their livelihood instead of depending on bank loans (which for various reasons are more tough to get) and on the other side, there have been questions and debates on the interest rates which are being charged.
I am working on a white paper based on my understanding and will publish this soon.
Many major organizations are venturing into this business and e-Bay has recently launched their microfinance arm – MicroPlace. MicroPlace is an organization which has tie-up’s with other NGO’s who work at the grass root level to provide loans. Users can invest in MicroPlace and then the money is provided to organizations for the kind of investment the user chooses. The user has access to all profiles / organizations which are listed on the site and looking for any kind of investment and decide as to where his/her money goes. The most lucrative aspect of microfinancing is that the repayment rate is close to or more than 98% most of the time.

Twittering life

Of late, I am spending a lot of time on my twitter home page. In a day, at least I take 30 minutes to go thru all the twitters over the time. Also, twittering from my Nokia E62 is really being a pleasure. Why is twittring addictive? Is there anything special about it? My friend asked me – “What do you get by sharing what your thoughts are? Why do you want every one to know everything? ” I do understand that it might be sensitive for people to exactly share what is in their minds, but twittering is just not about that. It gives you an opportunity to share information to your friends when you like. Unlike blogging, twittering expects your expression to be shared in 160 characters, which will add to your language skills 🙂

Twittering is a recent development and as on date, we do not have more than 2000 people Indian registrants on twitter. But this trend is soon to take shape.

More about KickStart

As the event is fast approaching, the event is shaping up better and I am quite sure there is more than just showcasing entrepreneurial innovations. We have the event covered by bloggers who have been supporting since the beginning. Read in detail about the event, how to send your nomination / how to participate at KickStart web site.  Also, read more about the event and interview with the organizers on PluggdIn, and another event description by Prasanth on his TechBangalore. Mansi wrote about the event and also  Webyantra covered it. If you are inspired and writing about the event, please use the tags KickStart, HeadStart.

The Arc of Ambition

3 Weeks back, I borrowed a book from my cousin – The Arc of Ambition, Defining the Leadership Journey and it took me close to three weeks to complete it. Every chapter is a must read. The authors James Champy and Nitin Nohria did a lot of research in writing this book and I think I will have to give this a 5 Star rating for all the efforts. Each example which has been illustrated is a classic by itself.

The authors begin the book by defining the arc of ambition. There are various stages in the arc from beginning the journey to giving a graceful exit:

  • See what other’s don’t
  • Follow a steadfast path
  • Seize the moment
  • Temper ambition
  • Inspire with a greater purpose
  • Never violate values
  • Keep control by giving up
  • Change or die
  • Leave gracefully

Each page is a facinating read and this is a must for every individual. These rules need not apply to only enterprises or this book is not only for people who have high horizons, but for every person in this world to evaluate themselves and live for a purpose.

I don’t have any more words to write about this read, it was really worth the time.

My next read is going to be parallel, want to finish How to change the world and take on the Elephant, the Tiger & the Cellphone by Shashi Tharoor.

New Year Wishes

Opportunity is missed by most people.

Because it is dressed in overalls and looks like hard work.


Do you know what opportunity looks like?

Real opportunity most often looks like a lot of long, hard work.


Do you know where to look for opportunity?

You are most likely to find it in the problems, the frustrations and the challenges about which the most people complain in the most, loudly.


Do you know what to do with opportunity when you find it?

The best thing you can do is to take full responsibility for transforming it into something of real and lasting value.


How do you do that?

With an unshakable commitment, a positive attitude, the willingness to make whatever effort is necessary, and the persistence to continue until is done.


Do you understand what opportunity is not?

It is not a free ride, or a lucky break, or an innovation to get something for nothing.

 

Do you want to make the most of a great opportunity?

Then get busy and put everything you have, into making it happen, for if you do, it will.

Wishing all my readers the best of the New Year and wishing that you don’t miss any opportunities coming your way

HeadStart & GEW

Yesterday, one of our team members sent this link to the group checking if anyone can represent from / can we one of their partners. The Global Entrepreneur Week, which is to be held between 17-23 November 2008, is a global event where thousands of like minded people who are working towards innovation, and inspiring their creativity through imagination will be coming together in London, United Kingdom.

I have been part of KickStart.In (Thanks to Kesava and others who always invited me) and also been part of BarCamp movement in Bangalore since BCB2. Have been trying to create an ecosystem where we can help people with startup’s and bring like minded people together – to not only help build their dreams, but also work towards a common goal helping each other to succeed.

Well, after BarCamp Bangalore, the next and our first major event is the HeadStart 2008, which is being organized along with ACM Conference between the 18-20 January 2008 at Indian Institute of Science, Bangalore. The aim of this event is to bring together Academicians, Students and Investors on a single platform and showcase various innovations. If you are a start-up and looking for an opportunity to show case your product/service, then I would highly recommend you to be there. You can take suggestions/feedback/critics not only from general audience, but also from eminent academicians too. Also, there are investors in the audience, who might be interested to support you 🙂

Leave no stone unturned, you might be the next Apple/Google/Microsoft 🙂

Well, coming to GEW, I have registered myself as a partner and the whole team has been encouraging me. Hope I will live up to their expectations.

More updates to come soon in the new year, so, stay tuned….

HeadStart & GEW

Yesterday, one of our team members sent this link to the group checking if anyone can represent from / can we one of their partners. The Global Entrepreneur Week, which is to be held between 17-23 November 2008, is a global event where thousands of like minded people who are working towards innovation, and inspiring their creativity through imagination will be coming together in London, United Kingdom.I have been part of KickStart.In (Thanks to Kesava and others who always invited me) and also been part of BarCamp movement in Bangalore since BCB2. Have been trying to create an ecosystem where we can help people with startup’s and bring like minded people together – to not only help build their dreams, but also work towards a common goal helping each other to succeed.Well, after BarCamp Bangalore, the next and our first major event is the HeadStart 2008, which is being organized along with ACM Conference between the 18-20 January 2008 at Indian Institute of Science, Bangalore. The aim of this event is to bring together Academicians, Students and Investors on a single platform and showcase various innovations. If you are a start-up and looking for an opportunity to show case your product/service, then I would highly recommend you to be there. You can take suggestions/feedback/critics not only from general audience, but also from eminent academicians too. Also, there are investors in the audience, who might be interested to support you 🙂

Leave no stone unturned, you might be the next Apple/Google/Microsoft 🙂

Well, coming to GEW, I have registered myself as a partner and the whole team has been encouraging me. Hope I will live up to their expectations.More updates to come soon in the new year, so, stay tuned….

Art of Innovation

My last reading is The Art of Innovation, by Tom Kelley, the General Manager for IDEO, the most respect design firm in America.

This book focus’s on how IDEO creates, manages and encourages innovation within the organization.

All of us in someway or the other want to be more creative – be it in selecting our dress, making up our home or as simple as arranging dinner at the table and actually we do put in our thoughts and begin being creative. We take ideas and suggestions from people and try to come up with something better.

While I was reading the book, I wanted to make notes, to ensure that I share with readers of my blog, but now, after completing the book, I dropped the idea, because, you might loose interest in reading the book; however, I will try to memorize and pen down few lines which really make us think. I sincerely recommend anyone who wants to do different in life (either in your job or in your startup).

Business writer Gary Hamel has a prediction “Out there in some garage is an entrepreneur who’s forging a bullet with your company’s name on it. You have got one option now – to shoot first. You’ve got to out-innovate the innovators”. How true?

Each chapter and each page makes you think, and also at times, gives you the thought that silly ideas make a big difference. Among all the chapters, one made a huge difference and changed (am trying to) my thinking – Experience.

What is Experience? You must have definitely been a victim of this many a times. Companies produce products or services and this is no difference, but there are few companies which you really want to remember and there might be few products which you really want to keep using and refuse to change. There is a load of difference between the former and later. Also, there are companies which produce goods and make you come back to use them/provide you the best of experience. Does this give you a thought? This is Experience.

I will give you my live example – I have flown various airlines (at least a couple of them) till date, but there are two airlines which really make me go back to them (even though their price is a bit more than others) – Jet Airways and Singapore Airlines. What makes the difference? The treatment I get, the care they give (pre and post-flight). Coming to other similar experiences, I will have to mention about the grocery store I go every month. I still remember the first time I went, it was just a normal experience, except for the fact that this person casually asked for my name. The next time I went there after about a month, this person welcomes me “Namaste Harigaru” (Salutation in one of the local languages – Telugu) and inquires about how things are going and then proceeds to pack my list. This small gesture makes me go back to him every time even today. I now stay a bit far away from this shop, but still would prefer going to the same place every time – What an impact with just a small gesture. You do not get the same experience in the big chain shops. Yes, everything is organized and you have the liberty to pick what you want, but still, the personal touch is just not there.

All of us would want to create an experience for our clients (family, colleagues, boss, friends etc). This is what makes the real differentiation in lives.

When you create a product/service, think about the DNA of ‘Experience’, that itself makes a mark and creates an impression.

Of all the organizations, how many really care about this? Very few, in fact very few. As I write this, i was trying to recollect when did I have the worst of the experiences – Once, I was in a small temple town in Andhra Pradesh and had to stay overnight. I took a hotel which is the most lousy hotel you can ever imagine. I paid advance and moved into the room. In the morning I noticed that the wash basin does not have an outlet and the water just falls on your feet if you open the tap. I was very disappointed and went and complained. The manager refused to listen and said that it was my problem and it was not his and when i threatened him that i would vacate, he sent his attendant to bring my luggage.

If I start writing all my experiences, then it would make a huge list, but what I intend to illustrate here is the importance of “Creating the Experience”.

You will need to start thinking on just not providing a solution/service, but creating the experience for your customers and this would add loads of values.

When you pen your business plan, have a placeholder for illustrating how you would create Experience and I am sure that would help a lot.

There are many pages which gave me insights into many things – Managing creativity in an organization, office look and feel, freedom to employees etc. which all add to building a great organization. This book does not offer your solutions, but definitely adds to your thought process while you manage your home/work/business.

Believe me, this is worth a read and now, I have become a fan of Tom Kelly for the way the book is structured.

Distributing Equity in Start up – OCC

Today, we had another Open Coffee Club meeting at Thought Works campus. The theme for this meet is to discuss “Distributing Equity in Startup”.

We had a good gathering of 24 enthusiasts coming and it was a good distribution too – 60% first timers and remaining being the old gang including Ramjee, Himanshu, Sidu, Pratik and of course me 🙂

The discussion started with speaking about the equity distribution in a free-lancing kind of organization.

Ms. Manjula, who owns a startup in training and consultancy shared her experiences in distributing equity in her startup:

  • We share revenues among ourselves.
  • If I am involved in the contract, then I usually go for 70%-30% split.
  • If I am not involved, then the person gets the complete share.
  • They decide they stake at the agreement level itself.
  • We usually make decisions on case-to-case basis.

People spend more than 60% of their time in office, and if you can be happy for that amount of time, then most of life’s motive is accomplished, which is irrespective of the salary and perks you earn is what Jayant Tewari, of Out Sourced CFO thinks. In India, we do not do architectural work and concentrate more on implementation work which reduces technical career path for people and this is where Entrepreneurs come from is what he had to say.

Let the stakeholder pay the employee directly, do not be a middleman and also build trust with employees, this brings results. You can also retain people with your projects for longer time. Startup’s do not put enough thought into ESOP’s. Usually, ESOP is not a good way of employee retainment, but ESOP is for people who are making things work in the organization.

How do you evaluate a one year old organization?

Ans: Look at your business plan, discount the financial projection by 50% straight.

Looking for a “Startup Capital” is being difficult in our scenario, only “Growth Capital” is being available to a large extent.

Sidu spoke about YCombinator, an organization focusing on seed funding for startup’s. YCombinator just helps entrepreneur’s with bare minimum fund for starting up their organization. The fund usually does not go beyond $20,000 with expectation of stake in-between 2%-10% from the startup.

Book Referrals – Here are few books for reference in Entrepreneurship and Innovation – Founders at Work, a compilation of stories of startup days is a fantastic read; The Art of Innovation – by Tom Kelley is an amazing read for understanding how Creativity pays and how you can innovate from the simplest of things in life; 37 Signals is a team which builds simple and focused software which help people collaborate and be organized.

Look forward for another OCC Meet in Bangalore.