Monday, December 17, 2012

Have you Encountered these Entrepreneurial Items?



Today I came across 2 kinds of Entrepreneurial ‘Items’ if I may call them, only because they behaved like typical items.

Here they are:

First one will take up the job you give to him in a hurry showing that he is very busy. He will even give you an approximate quote and ask for advance. You give advance and take a date from this ‘item’ to come back to check on the status of your job.

On the day of meeting you call his mobile to reconfirm that you will be visiting his works; this ‘item’ will pick up the phone and when you say who you are, the phone will automatically disconnect and then when you redial, the mobile will be switched off.  You try again after couple of hours and one of his sidekicks will pick up the mobile phone and give you some BS excuse. Your day is gone.

Next day you try again and you get him on his mobile, finally. He gives you some lame excuse and asks you to come on a new day and time.

On that decided day and time you arrive at his works. Looking at you he immediately will say, ‘I have given your work and half of it is done…I deliberately did not complete it because the budget is increasing.’ You argue that he had already given the budget and he will again make excuses that he had given you an approximate budge. He will start calculating the budget in front of you again and give you an increased estimate that is almost double the quote he gave you earlier. At that moment the realization will hit you that this ‘item’ was lying to you and your work has not yet started. When you confront him with this he will say, ‘…I am not forcing you to get your job done with me…you can go elsewhere…’

Don’t think twice! It is better to cancel the order and take back your advance money.

Lesson to be learned:

Never work with a person who is whole and sole of his company; i.e. a proprietary firm. Even if you have to give order to such a kind of firm ensure that they have at least a minimum team to handle the works. If the proprietor is the only person who handle all the departments run away from there. Even if he is cheap, for you he can be a pain in wrong places that is more expensive than the money you will pay him.
Now let me move on to the second entrepreneurial ‘item’.

Second ‘item’ will appear very sincere to you and talk to you very politely. You might think you have got the Right Vendor finally. But the shock is yet to come. This ‘item’ is not capable of doing your job but she cannot say it upfront on your face.

You ask why?

Nobody who is sitting to do a job in the market will say that they cannot do that job. They think it will hurt their reputation; even though they will not be having anything by the name of reputation in their lives.

So how do I know that these kinds of ‘items’ cannot deliver?

Simple! With what these kinds of ‘items’ do in such a situation, one can easily tell.
They will make you jump from your seat by quoting a big price. How big is big? Almost 7 to 10 times the market price!

When you ask how come she is charging so much? She will start giving all those useless excuses about being quality conscious and other BS. For the first time you will look at her office which is the size of a rat hole and wonder if she is charging so much money then how come the office is no bigger than a matchbox?
This is the standard style of these kinds of ‘items’ who cannot do what they claim to do.

Lesson to be learned:

Even if you can afford to pay the high price never give them your business. They will screw your job royally.
In both cases always look for the setup that the proprietor has created and the kind of people working in that setup. Just talk to the employees and you will instantly come to know whether they are sincerely working or just passing the day.

In conclusion: Any business owner who charges less or charges more will not necessarily give you the best job that you desire. Never trust them unless and until you have tested them. This is what you have to learn and develop inside you! Learning to read people who are sitting in the market to take away your money without providing any value is the best education you can give yourself.

Just one more thing: This kind of daily adventure is what makes meeting different people interesting and makes life worth living! You come back home wiser in the evening. 

Cheers!

Rakesh Prasad

Friday, December 7, 2012

5 Things to Focus on Before You Launch Your Product


You have a killer product you are eager to launch in the market. You can't wait for the customers to know and start using it. But hold on a minute. There are 5 points that you should give clarity on to your Sales Soldiers before they hit the market. These 5 points will give all the reason for your Sales Soldiers to go all out and perform thereby bringing in the profits you are looking forward to.

Here they are:

Point 1: How much will they earn by selling your product?

Point 2: Why selling this product is simple &/or easy?

Point 3: What they have to do to make the sales and 

achieve their targets?

Point 4: How they have to do? Give them the process.

Point 5: How doing this way is legal? Tell them what they 

are doing is Right and how it will help them to achieve 

their personal goals.

Sunday, October 7, 2012

The Rupees One Lac Question


During one of my interview sessions with one of the business owners I asked, 'Irrespective of the amount you withdraw every month from your company, how much do you think your company should pay you in salary every month?'

The answer was: One Lac Rupees.

I asked the follow up question: 'Why should your company pay you that kind of salary?'

The answer was: (Silence)

Most of the business owners demand big salaries from their own company without understanding what it takes to earn that kind of money in the market.

If only more and more business owners answer the question with great sincerity and work on their answers, they can help their company prosper, themselves become more productive and can take home the salary they dream of taking every month.

Friday, August 26, 2011

The Three Act Story of Steve Jobs that Changed The Human Life


The first story is about connecting the dots.
I dropped out of Reed College after the first 6 months, but then stayed around as a drop-in for another 18 months or so before I really quit. So why did I drop out?
It started before I was born. My biological mother was a young, unwed college graduate student, and she decided to put me up for adoption. She felt very strongly that I should be adopted by college graduates, so everything was all set for me to be adopted at birth by a lawyer and his wife. Except that when I popped out they decided at the last minute that they really wanted a girl. So my parents, who were on a waiting list, got a call in the middle of the night asking: “We have an unexpected baby boy; do you want him?” They said: “Of course.” My biological mother later found out that my mother had never graduated from college and that my father had never graduated from high school. She refused to sign the final adoption papers. She only relented a few months later when my parents promised that I would someday go to college.
And 17 years later I did go to college. But I naively chose a college that was almost as expensive as Stanford, and all of my working-class parents’ savings were being spent on my college tuition. After six months, I couldn’t see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. And here I was spending all of the money my parents had saved their entire life. So I decided to drop out and trust that it would all work out OK. It was pretty scary at the time, but looking back it was one of the best decisions I ever made. The minute I dropped out I could stop taking the required classes that didn’t interest me, and begin dropping in on the ones that looked interesting.
It wasn’t all romantic. I didn’t have a dorm room, so I slept on the floor in friends’ rooms, I returned coke bottles for the 5¢ deposits to buy food with, and I would walk the 7 miles across town every Sunday night to get one good meal a week at the Hare Krishna temple. I loved it. And much of what I stumbled into by following my curiosity and intuition turned out to be priceless later on. Let me give you one example:
Reed College at that time offered perhaps the best calligraphy instruction in the country. Throughout the campus every poster, every label on every drawer, was beautifully hand calligraphed. Because I had dropped out and didn’t have to take the normal classes, I decided to take a calligraphy class to learn how to do this. I learned about serif and san serif typefaces, about varying the amount of space between different letter combinations, about what makes great typography great. It was beautiful, historical, artistically subtle in a way that science can’t capture, and I found it fascinating.
None of this had even a hope of any practical application in my life. But ten years later, when we were designing the first Macintosh computer, it all came back to me. And we designed it all into the Mac. It was the first computer with beautiful typography. If I had never dropped in on that single course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts. And since Windows just copied the Mac, its likely that no personal computer would have them. If I had never dropped out, I would have never dropped in on this calligraphy class, and personal computers might not have the wonderful typography that they do. Of course it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backwards ten years later.
Again, you can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.

My second story is about love and loss.
I was lucky — I found what I loved to do early in life. Woz and I started Apple in my parents garage when I was 20. We worked hard, and in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4000 employees. We had just released our finest creation — the Macintosh — a year earlier, and I had just turned 30. And then I got fired. How can you get fired from a company you started? Well, as Apple grew we hired someone who I thought was very talented to run the company with me, and for the first year or so things went well. But then our visions of the future began to diverge and eventually we had a falling out. When we did, our Board of Directors sided with him. So at 30 I was out. And very publicly out. What had been the focus of my entire adult life was gone, and it was devastating.
I really didn’t know what to do for a few months. I felt that I had let the previous generation of entrepreneurs down – that I had dropped the baton as it was being passed to me. I met with David Packard and Bob Noyce and tried to apologize for screwing up so badly. I was a very public failure, and I even thought about running away from the valley. But something slowly began to dawn on me — I still loved what I did. The turn of events at Apple had not changed that one bit. I had been rejected, but I was still in love. And so I decided to start over.
I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.
During the next five years, I started a company named NeXT, another company named Pixar, and fell in love with an amazing woman who would become my wife. Pixar went on to create the worlds first computer animated feature film, Toy Story, and is now the most successful animation studio in the world. In a remarkable turn of events, Apple bought NeXT, I returned to Apple, and the technology we developed at NeXT is at the heart of Apple’s current renaissance. And Laurene and I have a wonderful family together.
I’m pretty sure none of this would have happened if I hadn’t been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don’t lose faith. I’m convinced that the only thing that kept me going was that I loved what I did. You’ve got to find what you love. And that is as true for your work as it is for your lovers. 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. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don’t settle.

My third story is about death.
When I was 17, I read a quote that went something like: “If you live each day as if it was your last, someday you’ll most certainly be right.” It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: “If today were the last day of my life, would I want to do what I am about to do today?” And whenever the answer has been “No” for too many days in a row, I know I need to change something.
Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure – these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.
About a year ago I was diagnosed with cancer. I had a scan at 7:30 in the morning, and it clearly showed a tumor on my pancreas. I didn’t even know what a pancreas was. The doctors told me this was almost certainly a type of cancer that is incurable, and that I should expect to live no longer than three to six months. My doctor advised me to go home and get my affairs in order, which is doctor’s code for prepare to die. It means to try to tell your kids everything you thought you’d have the next 10 years to tell them in just a few months. It means to make sure everything is buttoned up so that it will be as easy as possible for your family. It means to say your goodbyes.
I lived with that diagnosis all day. Later that evening I had a biopsy, where they stuck an endoscope down my throat, through my stomach and into my intestines, put a needle into my pancreas and got a few cells from the tumor. I was sedated, but my wife, who was there, told me that when they viewed the cells under a microscope the doctors started crying because it turned out to be a very rare form of pancreatic cancer that is curable with surgery. I had the surgery and I’m fine now.
This was the closest I’ve been to facing death, and I hope its the closest I get for a few more decades. Having lived through it, I can now say this to you with a bit more certainty than when death was a useful but purely intellectual concept:
No one wants to die. Even people who want to go to heaven don’t want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life’s change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.
Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma — which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.
When I was young, there was an amazing publication called The Whole Earth Catalog, which was one of the bibles of my generation. It was created by a fellow named Stewart Brand not far from here in Menlo Park, and he brought it to life with his poetic touch. This was in the late 1960′s, before personal computers and desktop publishing, so it was all made with typewriters, scissors, and polaroid cameras. It was sort of like Google in paperback form, 35 years before Google came along: it was idealistic, and overflowing with neat tools and great notions.
Stewart and his team put out several issues of The Whole Earth Catalog, and then when it had run its course, they put out a final issue. It was the mid-1970s, and I was your age. On the back cover of their final issue was a photograph of an early morning country road, the kind you might find yourself hitchhiking on if you were so adventurous. Beneath it were the words: “Stay Hungry. Stay Foolish.” It was their farewell message as they signed off. Stay Hungry. Stay Foolish. And I have always wished that for myself. And now, as you graduate to begin anew, I wish that for you.
Stay Hungry. Stay Foolish.
Thank you all very much.

Tuesday, August 2, 2011

An Entrepreneurial University


Today a different kind of Business School is required. Instead of creating job seekers the Business School should provoke in them to go out and create a Company of their own. The seed of Entrepreneurship has to be sown in them, the day they join the Business School. The purpose must be to create in students a ‘Thinking Process’ so that what today we call the dis-comfort zone becomes their comfort zone and what is known as comfort zone becomes their dis-comfort zone.

After getting a handsome paying job how many of these youngsters have a idea about creating their own Enterprise? I meet employees who want to make a transition from being and Employee to becoming an Entrepreneur, but are not ready to unlearn what they have learned. The result is they never kick start their business or even if they start they fail miserably in their venture. Every morning they walk into their new office just as they went to their office when they were employees; without any creativity, lacking the right enthusiasm and the right knowledge to run their business. They anxiously wait for everything to fall in place all by itself. This is how Entrepreneurs get into depression.
The solution lies not in teaching a fixed syllabus year after year, but in how today’s leaders are building tomorrows Enterprises.

It is never about the topics covered, it is always about the content that is covered in those topics and then how the students apply those contents in their Enterprises.

Monday, July 18, 2011

Do You Work To Keep Your Team Busy or Work To Make Money?

A thought provoking idea that every Entrepreneur should think about:

With enough raw materials, you can keep one worker busy from now until retirement.

But should you do it?

Not if you want to make money!

Making an employee work and profiting from that work are two different things. Putting it precisely - Activating a resource and utilizing a resource are not synonyms.

'Utilizing' a resource means making use of the resource in a way that moves the system towards the Goal.
'Activating' a resource is like pressing the ON switch of a machine; it runs whether or not there is a benefit to be derived from the work it's doing. So, really, achieving a non-bottleneck to its maximum is an act of maximum stupidity.

An implication of these rules is that we must not seek to optimize every resource in the system.

To Your Success & Exponential Growth
RP

Friday, March 25, 2011

Whom Do You Take Advice From?


Whom Do You Take Advice From?

We all are surrounded by people who love to give advice; all you need is to just introduce your challenge or your idea. Most of the time we as an Entrepreneurs take home their advice and start implementing it in our business.

The people offering advice are not bad people. But they are just a bunch of unsuccessful people who love to give advice on the first opportunity. Every individual knows what the other person should and should not do. But when it comes to their success they don’t have the slightest clue where their own life is headed.
The ideas that they churn out are based on their experience of what they know or on what they have read. They themselves have not done anything on the topic that they are talking about. These people can really be dangerous and we should stop ourselves from approaching these guys for advice.

We should search out and take advice from people who have achieved the success that we aspire to achieve. Listening to people who are still struggling will make you only a struggler in your business.

Look out for people who can actually take your business to the next level of growth. 

To Your Exponential Growth
Rakesh Prasad
The Maverick