Blog of An Indian Entrepreneur

NJ StartUp Weekend - An Amazing Experience

Spent some quality time amidst entrepreneurs and aspiring entrepreneurs @ the NJ StartUp Weekend. What an invigorating experience! Over 100 new business ideas were pitched.. 13 got shortlisted for final presentation. The interesting part was all attendees who did not make the final 13, joined the finalists ( 13 teams) and worked non-stop over the weekend refining the idea and making it real.

The intensity was to be seen to be believed. The passion and energy..incredible.

Four (personal) observations re Final 13 presentations (purely from an entrepreneur's perspective):

• I believe a key reason for ideas coming to life was the "focus and intensity". It was amazing to witness how just these two key attributes could breathe life into "just an idea".
• Social + Personalizaton + Smart use of big data seemed to be the "theme of the day". At least 7 out of 13 finalists were all about these 3 elements (including the winners).
• A common struggle for 9/13 finalists: One line definition of the product and what it does for you. After having been an entrepreneur for 10 years now and having interacted with literally hundreds of entrepreneurs one lesson that I have learnt is -- if a business (or idea) can't be explained in one line (less than 20 words), the idea in all probability is not good enough.
• One common area of weakness (for all finalists) was - inability to satisfactorily answer a simple question - HOW WILL YOU ACQUIRE NEW CUSTOMERS FOR YOUR BUSINESS.

 

It was an intense weekend full of energy, buzz and activity. Though, I spent just a few hours, I came out with a strong belief - EVERYONE SHOULD ATTEND AT LEAST ONE STARTUP WEEKEND. It can, quite literally, have a transformative impact on you.

Hat Tip to Start Up Weekend NJ! 

- Udayan Bose

 

Proud to be associated with StartUp Weekend NJ and Why Start Ups Are Fun

Entrepreneurship is exciting. Entrepreneurship is Fun!

When StartUp Weekend NJ - http://newjersey.startupweekend.org/- approached us for co-sponsoring their inaugural event (March 28-March 30, 2014), we did not bat an eyelid before saying a BIG YES. Afterall, how can one pass the opportunity to meet, know and support entrepreneurs and share their excitement.

My mind flashes back 10 years - to 2004 - when we were starting NetElixir, in Hyderabad, out of our apartment's living room. As I look back on this decade long journey, I can only say one thing - STARTUPS ARE FUN.

And here are 5 reasons why I believe so -

1. Crazy Pursuit of Stupid Dreams: The idea of starting a search marketing firm in India, in 2004, was crazy. Search Marketing was unknown in India. We targeted US Customers. No one could understand the business viability of managing someone else's search advertising budget from 8,000 miles away. I had no business connections in US, I had no understanding of the culture and I did not (of course) have any clients or know any potential clients. Most importantly, I had almost no independent start up experience. Stupid, right? We Did It nevertheless.. and so far it has been FUN.
2. The Importance of Rejections: Between 2004 and 2005, I would have pitched our (seemingly interesting) business idea to over 100 business executives (Primarily VCs and Angel Investors). Everyone dismissed the idea as an unviable proposition that they had absolutely no interest in putting any money on. Some rejections were abrasive (to say the least :)) while the others were dished out more politely. As I think about those amazing meetings I feel the rejections made us stronger and more determined to succeed. Rejections amplified the impact of our small wins and, as and when they happened.. made them sweeter. Rejections Made Our Journey Fun.
3. Passion and Persistence Make Impossible, Possible: If I were to go back 10 years and analyze the chances of our business success.. as a rational, experienced business professional.. honestly, I would have given it an F. But then, start ups are not always about rational thinking. Passion, Perseverence and Luck (Yes, LUCK... that extremely important ingredient that EACH AND EVERY START UP NEEDS in BUCKET LOADS but seldom gives any credit to) make Impossible Dreams a Reality. They make it fun. 
4. People Make The Journey Fun: Ahh.. PEOPLE.. I can write a book and more. Arguably the most exciting and rewarding part of my journey has been meeting, knowing and, working with people around the world from various cultures and backgrounds. Every interaction has been invaluable. I have been able to better appreciate the phrase that we were taught in the International Business Course (Remember the Hofstede Model?) - CULTURAL SENSITIVITY. People Make Entrepreneurship Fun.
5. It is all about the JOURNEY: I can't emphasize this more. (The ironical part is that we understand and value the various checkposts in our journey long after passing them). I have absolutely no doubt in my mind that the start up journey (with all the caffeine loaded moments, the high fives and the "world is coming to an end moments") ennobles you.. makes you a better person. I would not trade this experience for anything. The Journey is The Fun.

 

- Udayan Bose

Clix 2013: One small step towards a big purpose

One of the most exciting aspects about running an entrepreneurial company is the ability to convert an idea into reality at an unbelievable pace. Clix 2013 - India's first digital marketing case study contest for Business Schools in Hyderabad concluded yesterday (July 27). The grand finale was held at Hotel RegentaOne.

A powerful idea - to provide world class exposure to B-School students to digital marketing - was impeccably executed from conception to completion in an amazing 23 days - by my very able team. The case study contest is our first step in India to spread awareness on digital marketing. We believe in the power of youth. Their creativity and analytical prowess. This contest is just the beginning.

The Clix journey - like every other entrepreneurial journey - provided some useful learnings for me, personally. The biggest learnings were - 

• A big purpose grows manifold when shared: The entire team NetElixir believed in the purpose - the purpose of sharing knowledge and providing world class exposure to digital marketing to the students. The team's conviction along with the power of the idea ("digital marketing case contest") was infectious. From senior digital marketing execs to B-School faculty to the "stars of Clix 2013" - the sudents - Clix became everyone's contest .. purpose. The excitement was to be seen to be believed.
• When purpose combines with passion results happen: We spent approximately 150 hours(aggregate) between July 4 and July 27. Within this time period of 23 days - we created two "first of it's kind cases (The case used for Prelims was the first instance of using crowdsourced solution for generating monetization ideas; The case used in the finals was based on "actual digital marketing data" for Lenovo.com); Conceptualized, created and executed all relevant digital advertising elements around the event (quite literally, in 23 days - a new brand - Clix - has become a fairly well known brand at least within the Business School community in Hyderabad); Generated widespread awareness through some stellar PR coverage; conducted prelims in 5 business schools (shortlisted 5 finalists from 75 teams that had registered) - the prelims often continued post midnight;  Conducted the finals that included two very senior executives - from Lenovo (he had to fly in from Heathrow to Hyderabad on July 27, morning for this event) and Google + faculty + Press + students. Not to mention all the operational stuff starting from designing the trophy to forging media partnerships. Btw, it must be mentioned that the team did all this without neglecting their daily job responsibilities. Without passion + shared purpose this WOULD NEVER HAVE HAPPENED.
• Power of Team work: We never spent hours deciding who will be a part of the organization team for Clix.I just discussed the idea with a couple of my team members - the purpose - and the date for the finals :) Then I stepped back to coordinate with PR agency and create the cases. Everything else (yes, EVERYTHING ELSE) was left to the team. I must confess that this style of "defining the purpose and stepping back to let team operate" is rather common at NetElixir. I have always been amazed at the power of this operating principle. But, this event " takes the cake". An event of this magnitude within 23 days - is a BIG CHALLENGE. Very proud that my team rose up to the challenge and delivered in an impeccable manner. Hat tip for the entire team.

The response we have got from everyone - panel, faculty, students, press - can be summarized in one word - INCREDIBLE. This has emboldened us to take this event national next year.

SHARED PURPOSE + PASSION + TEAM WORK = INCREDIBLE RESULTS.

We want to reach out to as many bright, young minds and challenge them to build their DMQ (Digital Marketing Quotient). The "revolution has just begun.."

- Udayan Bose