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Industry : Technology Consulting Functional Area : Getting Started
Activity:  4 comments  359 views  last activity : 07 06 2010 20:18:04 +0000
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Here are few tips one should keep in check while starting up a start up. 

Money Saving Tips

  • Don’t buy a phone system. No one will use it - instead reimburse mobile bills (saves tax)
  • Don’t buy everyone Microsoft Office–it’s too much money. Put Office on three or four common computers and use google apps
  • Don’t waste money on recruiters.
  • Buy cheap tables and expensive chairs.

Productivity Tips

  • Fire people who don’t love their work.
  • Buy your hardest working folks computers for home (better still, give them a laptop).
  • Buy everyone lunch four days a week and establish a no-meetings policy. Going out for food or ordering in takes at least 20-60 minutes more than walking up to the buffet and eating. If you do meetings over lunch you also save that time. So, 30 minutes a day across say four days a week is two hours a week… which is 100 hours a year. You get the idea.
  • Outsource accounting and HR—such a no brainer
  • Get an expensive, automatic espresso machine at the office.
  • Allow folks to work off hours (as well as from home). Commuting sucks and is a waste of time for everyone.

Well, most of the Indian startups  that run on Google Apps and rely heavily on freebies, i.e. -

  • OSS (LAMP), CMS tools (Joomla/Drupal) for development.
  • Skype for communication.
  • Meeting with vendors/prospective partners at CCDs (Cafe Coffee Day) instead of posh restaurants.

Few more points to be added

  • Start a blog - an active one and try to get close to the community. If you do a good job, you will never need a PR firm.
  • Use events like Barcamps to meet prospective customers/employees, and of course to promote your product (in a subtle manner)
  • Never ever hire a HR person or advertise in any newspaper 
 
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4 comments on "Tips for Indian Startup"
  Commented by  varsha mishra, Analytical Chemistry Manager, rfrac    | 10 25 2008 18:02:51 +0000
very nice
  Commented by  varsha mishra, technical Manager, rfrac    | 10 02 2008 17:19:13 +0000
Ashutosh u make this article complete...

nice...1
thanks
  Commented by  Anand Narendra, Tech Architect, AN    | 04 27 2008 21:43:31 +0000
What should be the mindset of a successful IT Entrepreneur who has worked mostly as a technical person? Where is the start? how does the VC fit in? Could somebody share thoughts on this too
  Commented by  Ashutosh Kumar Srivastava, Team Lead, Wipro    | 04 23 2008 02:25:47 +0000
The role of venture capitalist is also important while thinking of a startup
Most Indian Entrepreneurs hate External Funding just because they will hold less stake in the business and the other party will be holding majority. Actually this is a narrow minded thought. There are many advantages which a VC funded company has over totally Privately funded business. They are -

1. Scale and Size Becomes large.
2. Media Attention, you are talked about in the media.
3. You get access and exposure to Industry contacts through the VC who is usually a well reputed entity in the industry.
4. You get more returns. Which is more 100% of 10 Lakh or 10% of 10 Crores ?

And when it is coming to the point of ownership, the VC isnt going to live with you for life. They will usually leave your company in a few years after they get high returns. They usually sell their stake to the public through a Primary Market IPO as stated above.
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