Funded or Loaned – Assumptions

No-Assumptions-1

Getting Funded

Rather than considering Success as the ultimate goal of any business, the New Age Entrepreneurs are considering “Getting Funded” is the ultimate success of their business.

Yes, your business will not get funded unless they see some flesh on the bone.

If you are getting funded for the expansion of the business on the basis of the success it has shown, then it is acceptable. But if you are not able to run the company because of financial crunches and then going for funding, will not be considered as an intelligent move of an entrepreneur.

Business getting sliced

Another important point to be noted here is, your hard earned business is going to get sliced and shared with another one, just for the money. From that moment, you cannot have the pride to claim this as your brainchild because the other person is rightfully going to take his slice out of it. Apart from this you will loose your freedom on running your business.

Loaned rather than Funded

There is another hidden drawback in this. If the person going to fund you is not having any basic knowledge of your business, then your freedom is totally screwed. Here it is better to be called as Loaned rather than funded. Also, if you are getting funded from small VCs, their own work tension, and pressure will also impact your business.

End of the day, your pride, and satisfaction as a business person itself will be in a stack.

Can you avoid this?

Yes, you can.

You need to keep the concept of Funding on a back burner until you have used all your trump cards.

As how the VCs choose to fund, you need to choose to whom you are going to get funded. Seldom, just shutting down will solve many problems than running on a funded money.

Keep in mind. If you have shut down your first business without getting funded, then understand, you are the best to run the funded company at a later stage.

If you take “pride” as the yardstick and go for funding rather than shutting down, your self-esteem will be lost and will eventually halt you in getting into any new venture.

If you keep “getting funded” as the goal of your business, then you are reinventing the wheel again rather than reading from the past market during bubble burst.

So don’t get into the wrong assumption as “Getting Funded is Success”

 

 

Confused to express our line of service due to lack of clarity?

mhGxSg4.jpgWhere will we place ourself by the type of service we do.

If a company is doing custom software development and one fine day they find easy money in doing body shopping rather than focusing on development requirements, then should we still call this company a Software Development Company?

Many successful Software Companies in the industry were started as a pure development firm and in due course, they started giving man power to the client instead of doing development themselves.

They do both custom development and body shopping. Can we still call them as software firm if their major revenue started coming from body shopping?

Different types of IT Services 

1. Custom Software Development

2. Maintenance and Support

3. Product Development

4. Body Shopping

5. Staff Augmentation

Earlier there were differences between them. But today most of the Software Company is doing all of these except Staff Augmentation.

Is the trend changing? If so should we need to coin new terminology to call these companies?

When we expand are we getting more confused to express our line of service due to lack of clarity?

 

Linkedin with the worst feature!!!

1.jpgNo other social media can have a useless feature like what Linkedin is having.

Yes, I am talking about the endorse feature only. There is a difference between recommendation and endorse in Linkedin.

The recommendation is written upon request and endorse is a non-solicitation.

People sending the request today to connect. Upon our approval endorses us the next day. That too, the automatic options given by Linkedin, is not on fuzzy logic. It is on puzzle logic.

Why should Linkedin give an option as CRM when I am into Operations for the last 10 years+.

If Linkedin wants to do a better data analysis, http://www.techAffinity.com can immediately assist them with our patented Sorting Algorithm.

Above all, it is better Linkedin not to exploit to this level.

Technology Driven or Technology Focused?

iot

The definition of this will slightly vary based on whether you focus on Service based or Product based.

If we are a product based company then we should never consider the technology as criteria at the first stage itself. Any product based company should be focusing on Market-based rather than technology based. The success of the market-based product is much, much higher than the product of technology based.

Technology should be determined based on the market need of our product and market should not be determined based on the technology proficiency of our company.

Example: A product should be analytics based and not big data technology based. Hope you can understand the difference. We cannot build a product on top of the technologies of big data. But we can leverage the advantages of the various technologies of big data to develop our product.

So the steps would be:

Market need – > technology selection – > Development Methodology – > Goto Market strategy

If we are developing on these steps then we are driving on the freeway to success. This is well experienced on large scale products and for any quick product, we can derive our own steps.

Now lets us analyze the same for a Service Based Company

Service based company can be a Technology Focussed (TF) or Technology Driven (TD). There are many differences between TF and TD. A TF company will be built on a specific set of technologies only.

TF example:

A company will say they are CRM specialized or E-commerce specialized or M-commerce specialized or Mobile App specialized, so on and so forth. Here they have to focus only on the technologies required for their specialty of service they provide.

TD example:

Any company which brings their core value as providing End-to-End Solution for the client would be automatically a TD only. Here they will suggest the client on which tool or technology would be the best fit based on the requirement of the client. Example: Based on the past experience a TD company would be in a commanding position to suggest on which Framework on which CMS on which Payment gateway a required E-commerce or M-commerce Web or Mobile App can be built with maximum efficiency and optimal utilisation with TCS (total cost savings)

If someone still says, “Jack of all and good for none” then consider he is still living in the past and this phrase has no meaning in the current trend of the technology world.

Also, this phrase is still used by the Technology Focussed companies only.

They should understand that even the developers are now “Full Stack” and not focussed on one specialty. It means you cannot get a developer on board for a long period in the name of technology focus. The percentage of people sticking to one technology is now draining fast and because of this trend, they will tend to move where they have enough for their appetite.

A Technology Driven service based company is a most versatile company to build our product rather than arguing with technology specific company.

The TD companies are on a fast track of new technology adoption and they bring more value to the table rather the technology focussed management companies.

Especially on developing countries like India where the opportunity for the developers are huge to learn new technologies and if we restrict them from getting involved in new technologies based on our company focus we will see more brain drain than the industry standard.

The most used Big Data and Analytics are gone and we are in the world of integrating technologies and concept together. Yes, we are now stepping fast into the IoT (Internet of Things) and image where we will stand if we still speak about technology focusing.

IoT is nothing but the combination of Targeting the Customer with the Electronic Gadgets into Data Capturing. Can we now say, IoT is a combination of Marketing, Electro-Mechanical, Software Development, and Analytics?

So is it now possible for us to restrict our service based on one set of technology alone? The answer MUST be an NO for any Technology Driven Company who see their company’s growth in next generation vision and mission.

If we still say that we are a Technology Focussed Company then will miss our right bus at the wrong time.

If we are a Service based company with tomorrow’s vision working with SME or SMB companies then we need to be having Full Stack Developers driving our Technology Driven company.