Just heard of Rodinhood and signed up!

I have been a first generation entrepreneur, fresh out of college at 21. It was a super 7yr roller coaster ride - many lows & a few great highs. Recognition from the likes of Business Week & abject failures.

Finally, in June 2011, I gave up and took up a job. Started keeping a blog to analyze my reasons for failure and create a framework to follow in the future. On it, I look back & connect the dots. I compare ventures, identify patters & understand the science. Yes- it is largely science & not the art of a few! 

For instance, with regard to strategy my experience is that strategy is like the ring on your finger. It needs to be a perfect fit. You need to be clear about what finger you would wear it on. You need to be clearer about what finger it is not for.

What defines a ring is the hole. What defines your company's strategy is what you are NOT going to be. First make a list of the most important customer needs you wish to address. Not more than three, I would say. Then, ask yourself - what are the trade offs I would make in order to excel at the things that the customer needs the most. These tradeoffs are what are going to be your USPs. They will guard you against competition. If you are a start-up, never ever do the mistake of assuming that you can do everything equally well.

At my ventures, I consistently did not do the above. I was too eager to do everything and be everything for everyone. Instead of doing a lot of less, I tried doing a lot of all. You can read more about stuff here: The First Crore

Would be delighted to have your thoughts on that - to debate and discuss. Look forward to inputs for the experienced and the enthusiasts, from the critics and fellows and from cynics and emphathizers.

And it goes without saying that, I am looking to contribute my part to the Rodinhoods, all events included.

Cheers!

Views: 260

Tags: Startups, entrepreneur, entrepreneurship, failure

Comment

You need to be a member of The Rodinhoods to add comments!

Join The Rodinhoods

Comment by Aditya Reddy on July 29, 2012 at 2:05am

@alok 'the crore thing' is a blog, I guess he put that as a reference :)

Comment by Sasikanth Chemalamudi on July 27, 2012 at 3:59pm

Alok. It was discussed with Asha and posted under her guidance.  'The crore thing' has numerous posts. Discussing it all happens over time as it is simply not possible to dump it all in one post. It is something that one went through for 7 years. Thanks for the input!

Comment by Alok Rodinhood Kejriwal on July 27, 2012 at 3:51pm

why post half an article? why not post the crore thing here and then get responses? else its just a link grabber

Comment by Sasikanth Chemalamudi on July 27, 2012 at 5:54am

Deepak - I think improving and getting into the big league is all about coming back and trying again, and again, and again. While doing that, being diligent in every possible way is needed! 

Comment by Deepak Sharma on July 27, 2012 at 12:33am

I think you are write somehow. But why cant we do something to improve it. how we will grow big. how we will come in big league

Comment by Sasikanth Chemalamudi on July 26, 2012 at 6:18pm

Hi Sai, from what you have written I can see that you have had sound learning :) Thanks for sharing. Keep in touch.

Comment by Sai Rodinhood Pothuri on July 26, 2012 at 6:07pm

Hi Sasikanth

  Welcome .  well from my mind...i can say its like thinking more and doing less wont work out. because success comes from serial failures until luck is with you all times.. 

my strategy is simple..before coming into my brothers venture, i don't know about procurement, supplier relations, logistics this and that and every thing

i started doing every thing.. seriously  i used to fail in some areas like maintaining supplier relations, supply chain management that really effects the production. search for new suppliers.. some used to even scold like we dont want to do business with you but still y you people call us  like that

finally after 3 years i came to know few things and that i want to share with you.. and these might work even in ecommerce because i am purely into procurement, processing and logistics

1) do your best and practical.. think less and act more.. you experience a lot of  new things every day

2) maintain a notebook and make sure you had track on each and every task.. some tasks can complete in day and some take days

3) you face failure at every step. but be bold and carry on with your hard work.. remember TIME solves every thing and to get every thing it takes TIME

4) Control Money Flow... really helps you to invest money on only imp things. even to list out the imp things  it takes TIME. so invest wisely 

5) Customer is king. concentrate on your customer views, reviews, or what ever. because they are the one who give you Life

Thanks

Sai

The RodinStar Post of the Week!

Like us, Please?!

Follow us on Twitter!!!

9 Ideas to use the site!

1. Registration is a click away - via Facebook etc
2. View ongoing discussions and fire up one yourself
3. Have a broader point of view? post a quick blog
4. Have a question? Just ASK! here
5. Want to activate some inquiries? List yourself
6. Have some stuff to show? Post Photos
7. Want to get noticed? Get yourself interviewed

8. Have a presentation that you like? Share it - Step by Step instructions
9. Lazy? Just hang out, Chat, add Friends...

Still messed up? Read the FAQ's

© 2014   Created by Alok Rodinhood Kejriwal.

Badges  |  Report an Issue  |  Terms of Service