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Tuesday, 16 February 2016

3 Astonishing ways people used to make handsome amount online

Oscar Wilde said 'When I was young I thought that money was the most important thing in life; now that I am old I know that it is'. Money has a considerable amount of significance in life of most people.

A wise person said lack of money is not an obstacle, but lack of idea is. But some people developed and implemented astonishing ways to fill their pockets. Some are innovative while some are controversial, but as we all know money talks. So here is the list of these astonishing ways -

Virginity Auction - This is the most controversial and contentious way used by some to earn bunch of dollars. Many people argued against it while some were in its favor. A virginity auction is a claimed auction, often publicized online, where a person seeks to sell their virginity . The winning bidder will win the right to be the first to have intercourse with the person.
Often the authenticity of such auctions is subject to question, and it is not later verified whether the auction was successfully completed. A number of high-profile auctions such as the 2008 auction of Natalie Dylan and 2012 auction of Catarina Migliorini were never completed.

Star Registry- International Star Registry (ISR),the original star registry that has been naming stars for people since 1979, allows you to name a star same as yours.A special star is selected in the sky and you get your Star Name and Star Date recorded along with it. This is one of the most clever and successful business idea that one can think of.

Selling Irish dirt - Pat Burke from Tipperary supplied and sold pieces of sod to Irish Americans for sprinkling on caskets of their loved ones. The name of his company was Official Irish Dirt. According to a report in Listverse.com the company sold 528,000 pounds of the sod.

Monday, 15 February 2016

Important Lessons Entrepreneurs must learn from Startup Failures

Life is a journey of learning and experiencing. The journey of success of a startup always consists of some hurdles. Failures are common in the life of entrepreneurs but learning from failures is the biggest achievement of an entrepreneur.Startups are connected with invention and innovation. Failures are common in the path of innovation. But these failures take people to a new plane of thought and innovation. Sp one trait that every successful startup exhibits is the zeal to learn. Mistakes are common but learning from them is what makes an entrepreneur successful. So you must check the common mistakes done by startups to avoid them and proceed to the path of success. Take a look at the lessons you must learn from Startups failures

Don't neglect your team - You cannot clap without using both the hands. Similarly you cannot succeed without an active participation of your team. All great products in this world are outcome of excellent team work and co-ordination. Don't underestimate the power of team work. A startup founder must bring a zeal and hunger for innovation in the team to increase the productivity. Give importance to each and every member of your team. Try to retain talent to get a nice outcome.

Maintain work culture - Startups are preferred job destinations for youngsters due to cool ecosystem and flexible timings. However startup founder should insist the team to work more and more to increase productivity. Don't enforce the 9 to 5 culture but don't put productivity and innovation at risk.

Use the funding efficiently - The astronomical sums received by startups as funding gave rise to the topic of startup bubble. Already the news of shutting down of startups due to lack of funding have started appearing and many startups are in pipeline of losing their existence. Investors now want returns from their investments. So focus on profit and try to reduce the expenses. Tweak the business model to make your startup capable of generating some positive cash flow and focus on reducing dependance on investor's money.

Divide the target into milestones - For good productivity and growth, break the project into specific milestones with a certain time frame. Organizing the work and project into small tasks will lead to better results.

Love your work - Choose a niche for business in which you have interest. If you like coding, go for an IT or app development business. If you like cooking start your food chain.When you will do a work which you like, you will never feel like working.

Sunday, 14 February 2016

Cold Press Juice - A Small but Capturable and Profitable Segment in Indian Juice Market

Cold Press Juice is a superhit segment in western countries but this concept is new in Indian Juice market. Cold press juice is a special type of juice ,aimed at tackling a certain health issue or improving a certain health quality, made with the use of cold press technology. This is a niche market which is perfect for entry of startups.
Pros and Cons of Starting a Cold Press Juice Range
1.It is a small size niche market. MNCs and large companies focus on larger and bigger markets. So there are only a few small players in this market.
2. Profitable - These drinks are costly and the margin is good, hence the profit is high.
3. It is a successful business concept in the west and you might have witnessed the growth of western ideas in India.
1. It is a new concept, so proper marketing needs to be done. Also it is somewhat risky as India is price sensitive market.
2. Indian Consumers mindset about the the product is not known. So proper surveying must be done before the launch of the product.
3. This is a capital intensive business. One need to set up production facilities , research wing and marketing department. Surveying and Promotion costs must also be kept in mind before starting this venture.
How to proceed with this business?
First of all it is important to know about the mindset of Indian consumers about the product. So first step should be of sampling. Sample products should be made available in stores and reviews about the products should be collected. The problems in the product should be solved and the product must be launched with proper marketing. The marketing team should focus on getting customers acquainted with the benefits of the Juice. The Juice must be launched on E-commerce stores with excellent marketing plan. Social media must be used for proper engagement with users. If the product will be good, one will definitely achieve success.

Start-ups love Valentine's Day

First of all Happy Valentine's Day.Not only love birds but also Start-ups and businesses eagerly wait for the V-day to get some good earnings.
People spend astronomical amount of money to make their loved ones happy. So businesses and startups prepare a lot for this day to take their venture to a new height.
Ecommerce stores witness a good spurge in their sales statistics in valentine Season. From ecommerce stores to hotel aggregators, from flower businesses to jewellery stores and startups, everyone is in full mood to take advantage of this day. Take a look at the preparation and offerings of startups-
1. Indiangiftsportal-Indiangiftsportal eases the process of sending gifts to dear ones. It focuses on three broad gifting categories - Festivals, Personal Occasions and Corporate Gifts. It has a dedicated catalog of gifts for occasions like Diwali, Valentine’s Day, Rakhi etc.
2. Ola - Ola is promoting adventurous  valentine day and focusing on activities such as paragliding, surfing. Customers who wish to go on an adventurous date can make a request on the Ola app.
3. Voylla - Voylla.com is a Fashion Jewellery and Accessories Brand. The brand was founded in 2012. The brand caters to the needs of customers by providing exclusive jewellery and accessories from talented designers. They have amazing special valentine day collection.
4. PayTM - PayTM is offering excellent valentine day offers. They are providing huge cashback in many categories. They are also providing good cashback on mobile and DTH recharges.
5. Wedoshoes - Wedoshoes is offering dry cleaning and shoe repair services at good discount this valentine's day.

Thursday, 11 February 2016

Ecommerce is a booster for SMEs in Indian Economy

According to a report,'Impact of Ecommerce on SME', compiled by KPMG and Snapdeal, the SMEs have benefited a lot from development in ecommerce space. The marketing and distribution expenses incurred by the SMEs got reduced by 60% to 80%. This cost reduction paved a way to higher profit margins. Profit Margin surged by a whopping 49% making SMEs more profitable and successful.
The report highlighted the fact that SMEs require only Rs.3000 to enter the ecommerce arena. SMEs entrance into ecommerce space will take Indian Economy to a new high level. SMEs are now understanding the importance of ecommerce and are using it to give a kick start to their business. SMEs clocked a growth of 51% in revenue and growth of 7% in customer base with the help of ecommerce. Currently about 27% of online SMEs use the ecommerce platform. The most important reason of adoption of ecommerce by SMEs was to grow sales in a cost effective manner.
The contribution of SMEs in online sales is about 43% which is a significant number. Thus it is evident that more and more SMEs are using online resources to expand their business. Ecommerce enabled a direct contact between SME sellers and buyers thus reducing the supply chain and increasing customer support. 46% of SMEs agree that they get regular business deals with ecommerce marketplaces. However there are certain challenges faced by SMEs in adoption of ecommerce -
1. Improper information about expenses and costs involved - The common notion among SMEs on increasing online presence is that it is costly. This is totally wrong. Ecommerce helps in cost reduction and business expansion. The report explored that a SME require only Rs.3000 to maintain an online presence.
2. Lack of support and training - Some of the SMEs don't have the proper support and awareness on the usage of ecommerce platform to increase their business. Proper training must be provided to encourage them to go online.
The dream of Digital India can be accomplished only with the help of SMEs. When each and every business in the country will have a digital presence, the dream of Digital India will become a reality.

Saturday, 6 February 2016

Complete Domain Name Investing Guide for Beginners

Complete Guide On Domain Name Investing For Beginners. Learn How to Make Money By Investing In Domain Names.

Domain Name Investing Guide

For few months, I was doing a research on domain name investing. Finally my research is over and this article is outcome of the same which I present here for my readers. Investing in domain name proved to be a very appealing experience for some people while some people burnt their hands in this profession. 

It is a risky business in the same way investing in stock market is or even more than that.

So it is not made for everyone. Some have made millions while some have lost their principal amount. 

What exactly is Domain Investing?

Domain Investing
In simple words, domain investing refers to buying a domain name for normal registration price and selling it to the person or company who requires it at higher price thus making a profit. One can also buy domain name from secondary market and sell it at higher price. A domain name should be attractive enough to find buyers. Registration of a domain name expires after a certain period, so it needs to be renewed before expiry.

Why anyone will buy just a name for millions of dollars?

fb.com domain sale
OK! Before answering let me ask one counter question - Do you go to fb.com to use facebook? The answer of most of people would be a YES. The relevance of this question to the value of a domain name is that fb.com was purchased by facebook for a whopping $8.5 million in November, 2010. Surprised! Let me give you one more shock - This is not the costliest domain name in the history. Some domain names were sold for gigantic amounts even more than this. By now you might have understood the value of a "GOOD Domain Name".

Which domain names are the so called "GOOD Domain Names"?

There is nothing like "Good Domain Names". The value of a domain name is decided by a buyer and seller. A domain name which might be useless for you can be of utmost importance for someone else, so important that one might spend astronomical amount for it. So no one can tell you a diamond worthy domain. However some domain names are assumed to more important than others. Keep reading this article, I have added about it in Rules for investing in domain names section.

How is it different from investing in stock markets?

There are some similarities and some differences. There is a well established market for buying and selling stocks with definite prices while there are many small markets or sites for buying and selling domain names without any fixed price. Stock market is a liquid market while domain names are illiquid assets which can't be sold easily. However some domains might get sold for unbelievable prices. Everything is uncertain. 

All stocks of a company or firm are identical while all domain names are unique. So you can't get assurance that your domain will also get sold for a high amount if a similar domain is sold for huge amount. There is no renewal fees in holding a stock of a company while you need to pay a renewal fees for holding a domain name for certain period of time.Exact value of stock portfolio is known at any particular point of time while value of domain portfolio is unknown, it might be worth millions of dollars or might be of zero value. In stocks, one gets a regular income in the form of dividends, while in domain investment, one gets regular income by parking the domain name.

So investing in domain names is far more risky and illiquid  than investing in stocks. But if you are lucky, you might get a diamond worthy domain which might give you astronomical returns. It all depends on your risk appetite.

5 Basic Rules of Domain Investing 

  • Focus more on quality than quantityThere are infinite possible domain names, but try to pick golden fish from the ocean. Buy high quality domain names and focus on selling them before accumulating more domain names.

  • The Smaller, The Better - You can't get a domain name less than 5 letters because all smaller domain names are occupied. 2 letters and 3 letters domain names are sold on marketplaces for a huge amount.

  • Stick to .COM - I am not staying that other extensions are useless, but investing in other extensions is far more riskier than investing in .com domain names. So for beginners, it is recommended to invest in .com. However if you are able to find a small and good non .com domain, you can proceed.

  • Follow trends - When some topics become extremely popular, the domain name related to it start getting certain amount of visitors, so try to pick up domain names containing a trending keyword. 

  • Unknown Value - This is the most important one. There are many hidden gems but finding them is not easy. Nothing is fixed. No one can tell you a million dollar name because no one know about it. You might be able to figure out a million dollar domain name which even I can't find or you might get another penny domain name. Winners create their own rules. So develop your own style of investing and create your own rules of buying domain names.

How to start investing in domain names?

Investing in domain names is very risky, so invest according to your risk appetite. Invest on your own risk. I have written this before the start of this section because it is a highly risky business. So it is better to warn. 

So I have compiled a step-by-step procedure to invest in domain names.
  • Find a valuable and saleable domain. This is the most important and toughest part of this business.

  • Once you have found a valuable domain, buy this domain name from any domain registrar of your choice. Remember, the domain registrar should provide the facility of transferring a domain name.

  • Make it available for sale on any of the domain marketplaces such as Sedo or Flippa. They will guide you through the procedure to list a domain name on their platform and sell it. 

What should be the price of your domain names?

Price of domain name
There are three ways of pricing your domain while selling it -

  • Fixed Price- You can demand a fixed price for your domain name. This is preferred mode when the exact value of your domain name is known, so that it can be sold for profit easily.

  • Auction - You can make your domain available for auction on Sedo or Godaddy auctions. For premium and diamond worthy domains such as two letter domains etc., it is advised to sell them via auction to get the highest possible price.

  • Make Offer - This is the most common method of pricing because the exact value of most of domain names are not  known. As I told earlier, a buyer and seller decide the price of a domain name. In this way of pricing, a buyer has to make a offer of his choice to seller for domain name and now the seller has the flexibility of completing the sale or asking for more amount. 

Friday, 5 February 2016

Bollywood Poll Website - A good and easily implementable idea

Investment Required- $10 to $100

Source of Revenue- Advertisements

Details- Are you interested in watching Bollywood movies? Do you like rating movies and check the latest happenings in bollywood world. If yes then this startup idea is definitely for you. You can make a website which allows users to submit a poll for movies and vote in different polls. For voting in a poll, credits should be given to users while for submitting a poll,  a certain number of credits must be deducted. In this way, one can make the website more interesting. Users can also submit polls for information related to their favorite stars. You should make your website as appealing and innovate as you can.  Making a website is very easy, you don't need to learn html to make it. You can use drag and drop website builder which is provided by many domain name and hosting sellers. After that make a facebook , twitter and google+ page and post your website updates on these pages. Promote your website as much as you can. Once you start getting significant visitors,  apply for google adsense and display advertisements on your website to earn money. So go ahead and start making website right now. Best of luck.

Thursday, 4 February 2016

Make a USB socket port and sell online

Investment Required- $1000 to $10000

Source of Revenue - Selling USB socket port

Details - Have you ever thought of charging your smartphone with just USB cable without adapter? You would say that it is easily possible with laptop or computer. But what if your laptop is not working or you don't have it. Then you need another charger or adapter for USB cable. So shouldn't there be a port in your switch board which can allow you to insert directly the USB cable in it and charge your phone in the same way as the USB adapter does? So it is a good business opportunity. There are very few players in this market. You can make USB socket port which will allow anyone to plug USB cable in it in the same way we insert the plug of gadgets in socket of switch board. Then you can sell it online and make a website and promote your product. If it becomes popular, you can increase the production capacity. However this startup idea requires a large amount of investment and innovation. So you can check that whether this suits you or not.

Mark Zuckerberg is now the fourth richest person in world

Mark Zuckerberg

Mark Zuckerberg passed the Amazon CEO Jeff Bezos to became the world's fourth richest person on Tuesday. This is due to good performance of Facebook stock this year. Facebook is up 9.5 percent in 2016.

It is estimated that as of Tuesday, Zuckerberg had a $50 billion fortune while Bezos had a fortune of about $48.9 billion. A year ago, he was 15th on Bloomberg Billionaires index. Facebook is the fourth most valuable company in world after Microsoft Corp.,Apple Inc. , and Google's parent company Alphabet Inc.

Due to decline of the Amazon stock price, Bezos's fortune declined by about $10.6 billion leaving his wealth to $49.1 billion. One interesting point to note is that Zuckerberg is the only one among world's five richest people whose wealth increased this year.

Wednesday, 3 February 2016

Startup Bubble - Yes or No?

Startup BubbleIf we were to list top ten most talked about business stories of 2015, at least five of them would be about startups. Startups were all over the news throughout the year. Some startups received astronomical funding and were valued at astonishing amounts, while others had to lay off hundreds of employees; some of them even had to shut their shops down. 2015 was indeed a year of startups.
The year commenced with optimism about startups gaining traction, with some fledgling players like Ola, Paytm and Snapdeal getting some staggering funding. However, the optimism started drooping as the year progressed. The news of layoffs, cash-crunches at the erstwhile invincible startups became commonplace. The billion dollar question started haunting our minds: Is the rise of startups a bubble in the making?
The answer to above question is yes and no. The unviable business models and unbelievable valuations of most of the startups are unsustainable in the long run. Most of the so called unicorns – startups with valuation upwards of $1 billion – are yet to make profits.When companies like Flipkart and Snapdeal with valuations of $16 billion and $4billion respectively - more than respective valuations of Tata Motors and Yes Bank – are nowhere close to being profitable in the near future, course-correction is imperative.
So, what has led to the popping of the bubble? One of the primary reasons is incessant burning of cash. The startups have been burning the investors’ money as if there is no tomorrow.When the users talk about the cash backs and discounts associated with a product instead of its utility or experience of using it, there is something seriously wrong with the business strategy of the company. Most of the tech startups are acquiring customers by offering discounts, which is justified, given the huge technology-adoption potential in India. However, if a company has to pay users to keep using the product, there is a serious problem.
Moreover, marketing and human capital costs are also prohibitive. Imagine a company that is yet to make profits spending a whopping Rs 200 Cr in bagging cricket sponsorship rights. One fundamental question the startups need to ask themselves is: Would they have burnt the cash the same way had this money been their own?The elementary motive offrenzied spending is gaining market share over competition. But once these discounts are gone (which have to go, sooner or later), who will the customers stick to? They will stick to the one who offers the best service. Hence, to build a sustainable business, superior service, not discounts will help startups create value in longterm.
As of now, only thing startups are eyeing is growth. Profitability is not in the picture. But how long can they ignore profits? Sooner than later, the investors will ask for the path to profitability. So, it is high time that startups started focusing on making profits.
So, is it really a bubble in the making? Yes, it is. Will it burst? The chances of bursting of the bubble are minimal. However, the write-downsin valuations and layoffs are inevitable in the process, as many of the smaller players will get acquired or consolidated, with three-four big and efficient players remaining in every business area.Indian startup ecosystem will shift to course-correction.
To control the magnitude of impending damage, startups – small and large players alike – will have to rationalize their costs and move towards a profitable business model. Moreover, the time is ripe for them to chase retention of customers along with acquisition. And to build brand loyalty, they must transcend customer service.
Therefore, the cynicism around the future of Indian startup ecosystem – the fastest growing and third biggest in the world - is misplaced. The startups are here to stay, for the potential of technology penetration in the lives of more than a billion Indians is unparalleled. The layoffs and ramping down of services is a result of much-needed course correction for Indian startup ecosystem to come of age. The startup ecosystem will still reward great ideas with efficient implementation. We have already witnessed the disruptive ideas Indian youth has come up with in the recent past; an orderly implementation of these ideas will see Indian startups going places in 2016 and beyond.

Startup Idea - History Website

Are you interested in history? Do you like finding the uncovered aspects of the history of world or a particular event? If yes then this startup idea is definitely for you.
Investment required - $10 to $100
Source of Revenue - Advertisements
Details - Do you know everything about a historical event or a group of events or about the history of past? Everything means everything even more than professional historians. If yes then this startup is for you. All you have to do is to make a nice appealing website and write everything you know on it. Making a website is very easy, you don't need to learn html to make it. You can use drag and drop website builder which is provided by many domain name and hosting sellers. After that make a facebook , twitter and google+ page and post your website updates on these pages. Promote your website as much as you can. Once you start getting significant visitors,  apply for google adsense and display advertisements on your website to earn money. So go ahead and start making website right now. Best of luck.

Monday, 1 February 2016

Companies and Startups founded by IIT Delhi Alumni

Sachin Bansal and Binny Bansal
When it comes to entrepreneurship and startups, IITians are vey active. So we tried to find the companies and startups founded by the alumni of IIT Delhi- one of the best IIT of india.  So without any more wait, let's take a look at the list - 

  • Flipkart- The poster boy of Indian startups is founded by Sachin Bansal and Binny Bansal. Both of them are alumni of IIT Delhi.

  • Snapdeal - Another popular name in ecommerce space is founded by Kunal Bahl and Rohit Bansal. Rohit Bansal is an alumni of IIT-D

Image result for vinod khosla
  • Sun Microsystems - Vinod Khosla of IIT- D founded Sun Microsystems, a company which created Java and Network File System(NFS).

  • Zomato - Deepinder Goyal founded Zomato.

  • Quikr - Pranay Chulet founded Quikr. 

  • NIIT - Rajendra S Pawar and Vijay Thadani founded NIIT.

  • Indiabulls - Sameer Gehlaut founded Indiabulls

Inspiring Quotes for Entrepreneurs and Startup Founders

Inspiring Quotes for Entrepreneurs and Startup Founders

  • “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.” - Steve Jobs, Co-Founder, Chairman and CEO,Apple

  • “A person who never made a mistake never tried anything new." - Albert Einstien, Physicist

  • “I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.”Jeff Bezos, Amazon Founder and CEO

  •  “Always deliver more than expected.” Larry Page, Co-Founder, Google

  •  “High expectations are the key to everything.” - Sam Walton, Walmart Founder

  •  “Everyone has an idea, but it’s really about executing the idea and attracting other people to help you with the idea.”-Jack Dorsey, Entrepreneur, Co-Founder of Twitter

  • “Make your team feel respected, empowered and genuinely excited about the company’s mission.”  Tim Westergen, Pandora Founder

  • “Your most unhappy customers are your greatest source of learning.”  Bill Gates, Microsoft Founder and former CEO

  •  “If you had asked people what they wanted, they would have said a faster horse.” -Henry Ford, Founder of Ford Motor Company

  • “Many of life’s failures are people who did not realize how close they were to success when they gave up.” -Thomas Edison, Inventor

  •  “There are a lot of things that go into creating success. I don’t like to do just the things I like to do. I like to do things that cause the company to succeed. I don’t spend a lot of time doing my favorite activities.” -Michael Dell, Founder of Dell Computer

  • “You must put your head into the lion’s mouth if the per­for­mance is to be a suc­cess.” -Winston Churchill, British Prime Minister

  • “The biggest risk is not taking any risk… In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” -Mark Zuckerberg, Facebook Founder

  •  “Simplicity is the key to brilliance.” -Bruce Lee, Martial Arts Expert

  •  “I don’t look to jump over 7-foot bars; I look around for 1-foot bars that I can step over.”Warren Buffett, Chairman and CEO of Berkshire Hathaway

Sachin Bansal and Rahul Yadav Meeting at IIT Bombay Entrepreneurship Summit 2016

We are back again with an interesting post. No not interesting it is very interesting. We are one of the few blogs on the internet to report this mega event early. So let's dig deeper into the details of this event. 

Sachin Bansal needs no introduction but still for those who don't know him, he is the founder of poster boy of indian startups - Flipkart. Rahul Yadav is the founder of Housing.com but now he is not a part of the company. He is frequently referred to as 'the bad boy of Indian startups' by some people. 

Sachin Bansal and Rahul Yadav   Sachin Bansal and Rahul Yadav

Both of them studied at IIT. Sachin Bansal studied at IIT Delhi while Rahul Yadav studied at IIT 
The conversation between Rahul Yadav and Sachin Bansal started with the topic of IIT-

Rahul Yadav - I was supposed to collect my certificate, but I didn't do that. I had told these guys that one day they will call me. 
Sachin Bansal - IITs are places where you learn the world is much bigger than you thought when you joined and it is very helpful when you start a company.
Rahul Yadav - For me, it was meeting the best minds with bad infrastructure in hostels.

According to Sachin Bansal, the biggest problem in startup ecosystem is that it still takes 45 days to officially register a new company.He informed that Flipkart's launch was ready within 10 weeks of leaving their jobs.

He was happy due to the fact that despite these difficulties, people are willing to start up and large number of investors are helping many entrepreneurs and entrepreneurs are receiving investments for the big idea. He stated that many people are now willing to join startups because startups offer wealth creating opportunities. 

Sachin emphasized on solving real life problems. He said that India is at a stage where technology transformation is going to happen but it is only a matter of time. Technology is going to change a lot of things. So the entrepreneur should focus on solving big challenges.

Rahul: There are individual investors, people who put their personal money, and become advisors. Then there are funds.
The individual investors are a support. They're always there. My preference has always been taking limited capital from limited people and building the venture.
Sometimes VCs are also confused. Sometimes they see something not working, and get jittery. They start saying, let's make it profitable. I don't have so much respect for the fund managers, seriously.

Sachin: There are some right investors. Rahul got all the wrong guys on the board, or something. However, if the investors are not aligned with what you're planning to do, you're going to have a very hard time. It's important to make sure that investors are shareholders.
You need to be very clear to them about your idea and future plans.

Rahul: But sometimes, you need the funds, and you're in a bad position. So then you get any sort of investors. You have no real option there. You have the bad guys, or shut down the venture altogether.

Sachin: True. Sometimes companies get in positions where they have to get money from investors who don't really understand their business models. You're getting into that relationship hoping they'll get it. Those things generally don't work out. The founders need to be in-charge. If there are mistakes, it's got to be their mistakes. They have to own that, and learn from it.

Tuesday, 29 December 2015

'Startup India' action plan to be unveiled on January 16

Prime Minister Narendra Modi is planning to unveil the action plan of 'Startup India, Standup India' on January 16, 2016. The focus of the plan would be to boost entrepreneurship and startup culture in Indian economy. The problems faced by startups will be resolved.

He said 'Startup India, Standup India' campaign has brought new opportunities for youth. He said “On January 16, the government of India will unveil the full Action Plan of Start-up India, Stand-up India. A structure will be presented before you. This programme will be connected to the country’s IITs, IIMs, central universities and NITs. Wherever there are youth, they will be linked through ‘live connectivity,” 

The program will provide incentives and facilities for startups to increase jobs and provide employment to the youth of India. Bank financing will be made easy to for promoting startup ventures.