Hello Guys,
My Name is Piyush Pandey and we have a new startup offering educational solutions (Online Admission System, Learning Management System and Portals).
Since the day we have started this work we are facing few issues
First is Staffing : most of guys we interviewed we told them clearly that we new startup and as we grow we will also let you grow, right now we dont have so much to give you, but then also we are not able to get good resources.
Second is Revenue: We are giving our best shots to deliver the quality work on time but then also we are not able to generate revenue.
Case1 : Most of the time we hear you guys that you are new in the market and why we pay you the said amount, in the market their are so many companies who are giving the same in Rs. X, so you have to lower your amount. etc..
Case2: Some people come to us and ask to get their website designed and they say as you are not getting any revenue/projects and sitting ideal, so no problem make our website in X amount at-least you have something better than nothing.
Case 3: Some call us and ask us come and meet we will have some good projects for you guys, they take quote from us and from then onwards we keep following them.
Please help and suggest us according to your experiences.
Regards,
Piyush
Aman Jha
Hi Piyush,
1. The candidates you interview don’t share your vision. Also these freshers value money in a job more than learning in a job.
so, you better don’t tell them that you can’t pay. You decide what you can afford,try to have 60% fixed 40% variable pay linked to performance. Win win situation.
2. Case 1 . You are new so this bargaining is natural but if you are providing better quality then soon you will be earning premium.
case 2. How your clients come to know that you don’t hv much work. Send signals through your conversation that you are in talks with many clients. Do take up some of those assignments to keep money coming in.
case 3. You have to learn the art of reading people. You will learn gradually. See it as an opportunity to get attention of a client. Before quoting them,always insist for a meeting,pitch them your services in some fantastic way and quote them only at end of meeting.
Either by the end of meeting u will impress him or you will read him.
I hope this helps
Regards,
Aman Jha
Abhijit Bhiku Gaikwad
out of curiosity what is ur educational website? and how does even case 2/3 come when u r not providing website application dev service or r u?
Sony Joseph
Hi Piyush,
I can relate to the experience you are going through, and I can share a few lines of advice.
Staffing : First, you need to clearly now the exact no of people you need to put your start up in full gear. Dont plan too many buffers because they will eat up your money. Once you have realised how many people you need, now you try to look at the different avenues from where you can hire. People with similar background look like an ideal choice, and thats what every one would recommend including myself. But thats not what I did !!
Due to the lack of budget and not being able to pay people at handsome prices. I decided to take the most unsuspected people, teach them my business and help them to deliver what I wanted. Let me elaborate. For my business, I needed half a done sales managers or BDM’s (as they call themselves). Now since I was a startup with no established history of paying salaries on time, I didnt get much response earlier. I then decided to work with the team of BPO staff I had from my earlier assignment. Now they had no clue whatsoever about Indian market or even how to approach a business in India. I trained them right from the start and I took them along with me for meetings and showed them how it is done. Today, I actually do not have the need to hire anyone from outside. These people are driving revenue for me today. I must state that this wasnt achieved overnight. It almost took me 3 months to make them understand how Indian market works, how they need to approach customers etc.
I always tell everyone I know, that “People are your biggest assests” If they perform well, the company does well. If the leadership is right, and you have the right kind of employees you are looking at a dream run then. Look to speak with people whom you have connected in the past and if they would be ready to give a shot at your venture.
Case 1 : Never Ever de value your product. If you dont show confidence in your product, No one will. This will hurt, however its better to let some customers go rather than selling your product below the decided margin. You have to show them and tell them why you are asking for a specific price.
Case 2 : See, ideally this is where deviation starts creeping in, and you tend to lose focus on your initial idea. I would recommend that you stick to your area of expertise and do not entertain request unless they fall under your domain. Remember – J”ack of all Trades, Master of None”
Case 3: See, this happens to every other business you know. Happens to us too, sometimes clients keep delaying after asking for a proposal ekdum urgently. Take it in your stride, move on to the next prospect. Dont keep dreaming about them. If you believe you have given a good price and your product is good, wait till the universe comes and gives it to you 🙂
I hope I was able to help.. All the best for your venture !! God Bless !!
Piyush Pandey
Hi Abhijit,
We are making Learning Management system and given it to some of our clients apart from the same we are also having some good client names in website designing portfolio like “The HR Fund” and “Adaptxt”
For eLearning (Learning Management System) we have done deal with SixMatrix.
Piyush Pandey
Thanks Aman,
For nice suggestions but while interviewing the candidates we clearly say we are startup we will not afford handsome salary but we promise you that in a year we will give max two appraisals on the basis of performance.
But now candidates are looking for pomp and show not in doing some real work and learn to proceed further in life.
Piyush
Piyush Pandey
Thanks Joseph,
I like you your suggestion.
i will keep them in mind for future prospect
Piyush