Career: Should I keep working for a startup?

Question

I am pursuing my M-Tech as well as joined the start up side by side. I am little bit confused whether I can handle this work pressure.. 
and  how much risky is it to join a start up at age of 25 I m very indecisive(as it's not my own start up I am part of a team of 4 members)

Clarifications sought by me

1. Are they paying you enough?

2. Do you enjoy the work?
3. What is best and worst part of working there?
4. Break down your confusion into simple pieces-  Are you learning new things, Are you able to make contacts and do networking with people who can help you land in a decent job, Are you happy? Yes/No and why?

Is the startup related to your M-Tech course in any way. Please answer as much and as quick as possible :) Don't think much just write down what's goes in your mind. Don't judge your thoughts. 

Additional details provided by questioner as a clarification: 

No, they are paying just enough for expenditures (INR 3000) but they committed for more when they will have funding. 

I am enjoying as I want to work with some new concept, it was my wish to work as entrepreneur.

I am little bit tensed  because my job role is not clear as well, it's a basically data entry type work (in tech language you can say data management) 

But truth is I have to commit 8hrs a day initially (we have committed 3 days in a week)

I have studied the IME(industrial management n engineering) in that I have studied all the management related courses so you can rate this entrepreneurship with my field. 

And the most important thing is that  I don't have any idea about the core team concept, the rights on the share of the company and exactly what are the economic sources those leads a start up.

My Answer

It is very interesting from the point of a case study. I am able to say so because I work in a MNC but have a startup culture as I am deputed to a project site which is treated as a small autonomous unit within the company. My response is based on the learning I have acquired from working with startups as a client, from the first hand experience of people working in a startup and my keen interest in following the startups.

Let us first analyse your case:

Positives:

1. You wanted to be an entrepreneur and this is a step in that direction.
2. You enjoy working there.
3. You know the concepts of management and hence working in a startup will help you see the impact on your work clearly.
4. No work is small.  Three workers were asked a question "What are you doing?" while they were laying brick during construction. First worker replied that he was laying brick, Second worker replied that he was making a room and the third worker replied that I am contributing in building a wonderful building. All were doing the same thing but their response was different. We all have to be like the third worker as seeing the bigger picture keeps us motivated.
5. What I understand that you don't have any financial problems. So, don't worry much about the salary and right now you are doing M-Tech, so working at Startup is not a bad idea as long as you are in college provided you make a fine balance between work and academics.
6. You can make contacts with other like minded people by working at that company. It will help you in getting job offers from well established companies also.
7. Treat this as you are working on a live project as an internship. It will boast your confidence, build your knowledge and would help you during on/off campus placement. I can say so confidently as my sister told me that recruiters were impressed with the knowledge she accumulated during her internship at a startup. It provided her with an cutting edge advantage over others.
8. You get to know what you like or dislike much earlier than landing in a full time job. You can consider your current job as a mock test of your feeling that you like to work at a startup.
9. There is less hierarchy and you can see the output of the efforts you are putting. 

Not so Positives:

1. Working at a startup is a dynamic process. You have to stay outside your comfort zone and you would visit your comfort zone rarely.
2. You have to believe in the core idea of the founders else you will not feel motivated to put long hard hours.
3. Your role would not be defined. You have to be jack of all trade. Just think of it like an Indian wedding of your brother or sister. Do you have a specific role. I guess no. You have to do everything ranging from shopping, planning for the wedding venue, food, welcoming guests, dealing with emergencies, etc. You don't have a profile. Same goes for an startup. If you can happily deal with that then working for a startup is one of the best thing to do in life.
4. Your pay would be less as they have to be competitive and have to do a job at a price lesser than the established players in the market.
5. You have to work harder than those at well established companies.
6. But, the more struggle you do, the better and stronger you become. So the answer to your question that Is it better to work for Startup at 25 is a big yes. Right now, as a bachelor you can toil in long hard hours to make things happen. 

Words of caution:

1. As a fresher, don't bother much about pay. My cousins with pay as less as 10K per month are now earning more than 15+ LPA after 8-9 years.
2. We work till 60. So, in our working career of around 35 years, it hardly matters if we started with a lesser pay or a couple of years later than our peers. It is so because, life is a marathon and not a sprint. The struggle you do today will be helpful throughout your life.
3. Keep learning and updating your knowledge. Typewriting was a craze when I was a kid, it was a desirable skill. When I grew up, typewriters were replaced by computers and people who were earning their bread and butter based on their typewriting skills switched to computers as the change was essential for their survival and the move was logical and a comparatively easier one. So, moral is that we may face a crisis of job when we are 40-45 and might have to switch industry, so it is always better to keep make our self adaptable to change.
4. Don't keep all your eggs in one basket. Do many things. Participate in extra curricular activities at college, do well in academics and also work at the startup. I know you would feel killing me on reading this as it is not easy but I said what I have learned the hard way:)

Way Forward:

1. I think you should work for the startup to learn and get hands on experience even when you are in college. 
2. Don't limit yourself. Learn a bit about HR, Accounts, Marketing, Technical aspects, Getting Investors, etc. Who knows, the investor might be interested to hire you at a pay you deserve for doing a work you love?
3. Lucky things happen when we keep doing many things.
4. Take care of your health, your relationship with your loved ones and always try to maintain a good work life balance.
5. Pursue your hobby even if you don't have time because we never have time, we have to find it. In last 3 months, I wrote close to 400 posts here. In last five years, the total posts on this blog was 10-11. Only thing is that I have cut down on my sleep from 8 hours to 6 hours and I  never miss a chance to write and post something as it keeps me going.
6. Newton's First law is really true "A body in rest continues to be in rest and a body in motion continues to be in motion". So, when you get the taste of enjoying your hobby then you will find time for that. And, Newton will take care of the rest. Trust me!

Hope, this might have been helpful :)

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18 things not to do, if you are a budding entrepreneur ( startup founder)

Based on my personal experience with different companies of all sizes, in the capacity of a customer or a potential customer, I learned a lot about the traps which every budding entrepreneur must avoid to get successful in their venture. So, here I am offering the list of 18 things which you shouldn’t do, if you are a budding entrepreneur.

1. Don’t compromise with principles and ideals- It is highly recommended to write down your principles and ideals. A vision document will help you to stay focused all the times. But the world is changing fast and you have to keep evolving to keep pace with the needs of the society. Be flexible without compromising your principles and ideals so that you can adapt to any situation and come out with flying colours.  
2. Do networking and learn from others- Don’t shy away from building your contacts with all the people who can provide you valuable insight about your business. Learn to know people from the Industry you are trying to carve a path for you. Meet and Know people who can be a potential employee, co-founder, customer, adviser, brand ambassador, promoter, Investor and so on. Do something good for the society. Invest in your learning and share your knowledge- go to seminars, network with like minded people online on LinkedIn, Twitter, Quora, etc or offline at Workshops, Conferences, Fairs, etc.
3. Don’t ignore your competitors- Keep a tab on what your competitors’ are doing.  You can learn from their success and failures. But, don’t try to copy them or you will end up being an inferior version of your competitor. Beat the competition by offering better products and services at a lesser price. Focus on the strengths and weaknesses of all the other players and carve a market for yourself where you can capitalize on the weaknesses of your competitors.
4. Don’t lose your loyal customers and employees- At the end of the day, business is all about people. (Learn from the mistakes of Flipkart), Rather than following benchmarks create benchmarks. Give more than one reason for your employees and customers to be loyal. Although, even by following the best practices, you cannot avoid attrition, but by being conscious about the needs of your employees and customers, you can manage the attrition within manageable limits.  You can recognize your employees and regular customers by giving them special privileges, doesn’t matter, how small it may be. They will appreciate your efforts and will be your lifelong admirer.
5. Don’t be afraid to try something new- It may be scary to take the road less travelled but it will yield outstanding results. Explore the possibilities and expand the market itself rather than fighting for one’s share in a smaller pie. You will always get an early mover advantage and by doing so you will do more good for yourself, your competitor, the customers and the nation at large.
6. Don’t forget to learn from your mistakes-   When we do new things, sometimes we succeed and sometimes we fail. We should neither get arrogant about our success nor should we get disappointed by our failures. You will gradually realize that the seeds of success are hidden in your failures. So, you must learn from your failures and keep trying till you are not getting success. . Failures are learning opportunities. Never get disappointed with Failure, learn from them and evolve yourself and transform your company.
7. Don’t get too excited about booking profit or getting acquired- At the outset, focus on building your company step by step. Don’t try to be a one-stop solution provider, all of a sudden. Money should be the by-product of your hard work and dedication. It can be anything but not the ultimate goal if you truly want to be successful. You must put your best efforts on building trust, and reputation.  Cheer someone without any reason. I was reading an article on Yourstory where Mr. Gaurav Munjal (CEO of Flat.To) asked his readers to go and fill their address at the end of the article if they want a book “Harry Potter and the Philosopher Stone” as a gift. I did that without any expectation and was delighted to get that book with a personal message from him. Such kindness is amazing and really wins people. In this life, I will definitely do something that will pleasantly surprise him.
8. Don’t ignore your Family – You have to make a fine balance between your career and your family. At your deathbed, you will cherish more about the meaningful relationships that you cultivated. So, like you have planned to focus on growing your company. In the similar fashion, you must focus on taking your relationship with your parents, wife, children, relatives and friends to the next level. Sometimes, while truly enjoying what you do, you unknowingly offend your loved one by ignoring them; if you want to be a long term player then don’t be overenthusiastic. Balance your passion, aggression, risk taking ability, family, friends and employees. Always starve to be a better human being with each passing moment.
9. Don't ignore your USP- Where the market needs meet your passion then that is the right opportunity for you to bank on. It is very important to identify your USP and build your business around it.  You have to communicate about your USP to your customers so that they give you a preference over other established players while buying products or services.
10.  Don’t ignore the importance of mentor- You are here to play a Test Match and not a 20-20 Match. Getting a mentor will be a tough task but it will prove to be a game changer because the mentor will bring his/her specialties and experience with them. Also, be a mentor yourself for your employees.  Not only this, you can hire interns and train them. This will provide you better talent at affordable price and the trainee will gain from the experience of working on a live project. It will also help you appreciate your mentor more like a son understands his father after becoming a father himself.
11. Don’t try for Customer Satisfaction- No, I am not telling you to ignore your customers. In fact, I want you to delight your customers with your impeccable products and services. If they are delighted, then they will act as your brand ambassador. You must keep your Prices reasonable and engage your customers in the some of the decisions of the company through their feedbacks. It will give you an idea about the expectations of your customers.  Must read what this E-commerce company did to cheer up an unhappy customer.
12. Don’t expect everyone to respond positively about your initiatives- Enjoy the process of building and growing your business. Never let anything prevent you from the joy of living the life you chose for yourself. There may be difficult times but life is all about challenges and opportunities. Always remember that the journey is as beautiful as the destination. Learn to face apathy, neglect, failures, negative criticism and sudden attention when you get limelight.
13. Don’t let anyone steal your ideas- Learn about laws regarding copyright, patents and Intellectual Property rights. It is recommended to take expert advice for these things. Ignorance about these may spoil your hard work. You have to be tight-lipped about the key moves you are planning to make. So, protect your ideas from getting copied, launched and patented.
14. Don’t offer the same wine in different bottle- Aspire to create something which solves a current problem.  Don’t hope for immediate success; build your product & services- Day and Night. After all, Rome was not build in a day. Keep patience and keep working towards your goals. Keep doing your best and learn from your mistakes to improve the product or service you have to offer. Answer the question, why should people buy from you?
15. Don’t spend on Marketing- Rely only on word of mouth publicity at first, create a blog/social media profile and keep posting interesting articles which may or may not be promotional. Engage your audiences; no one will enjoy getting only promotional updates. If you can get the attention of your readers then they will do the rest. Also, get your website and app ready as soon as possible. Because, unless and until it is done no one takes you seriously. Once you have made substantial progress then launch a teaser on YouTube. Content is King. Good things will get free publicity and someday any influencer can promote it to larger audience and then there will be no looking back.
16. Don’t run behind big investors- It is a temptation to get investors early on. But getting them onboard very early may prove fatal as they are not here for love or passion like you. They want quick money and you may lose your freedom. So, it is very important to choose your investors wisely. It is recommended to build something good on your own first with your personal fund and here a co-founder is required. They will bring in with them an additional support system. Rely on your family and friend to generate first round of funding as they will not interfere in whatever you do. The timing of bringing in investors decides a lot about the trajectory of a company. Let your judgment prevails and you chose investor who don’t interfere with what you are doing. I am literally talking about sleeping partners, in a partnership, who are not keen to take up active roles in the company. For them, it will be like investing in Share Market where they can’t do much. So, those kinds of investors are preferred.
17. Don’t ignore your health- Don’t work 18 hours every day. It can be an exception but it should not be a norm. Bring discipline in your life else you will burn out. We are human; in fact, even sophisticated machines need rest and get wear and tear if not used with proper care. Nobody generally gives this advice to an entrepreneur but it is truly important for them. I have seen companies lose order when the founder got some prolonged illness after a heart attack. He lost goodwill and reliability as everyone thought that the Founder has stopped responding to calls and emails because he was unable to fulfill his contractual obligation. I have felt that many a times, customers don’t understand that such tragedy can also occur.  People may sympathize later but they will not give you jobs knowing that you are a one man army with a terrible heart condition. It’s so because, unfortunately, everyone is busy achieving their own targets and they don’t want to mess it up as we work in a eco-system where failure of one company has a knock on effect on the overall project.
18. Don’t ignore your moral and social responsibility- Do something selflessly for the society, country and the marginalized. Nothing can give you more satisfaction than bringing a smile on the face of people who are neglected and marginalized. If you can do something for them once in a while then you will feel more complete and blessed. Just few days ago, I was discussing with a Founder of a company and eventually came to know that he had brought 50 raincoats for all the people who work for him on a salary less than 20K. It was a nice gesture and he told that people were really nostalgic on getting this special treatment. His maid was so touched that she almost broke down telling that even her son has never brought any rain coat for her.  Another founder has taken the initiative to solve the problem of the illiterate people in villages by education them about all the government schemes available for them. This is a wonderful thing that he is doing for many years but he never spoke about this with us. But one day, when he realized that I am inclined towards volunteering then he shared this with me, I was just touched by his humble act.  

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Words of wisdom (Startup advice) from an old man

Date- 30.09.2015

It was 9:45 in the morning when an old man came to me in office. My earphone was still on as I was checking mails. So, I put that out and greeted him and shook hand with him.

He is the owner of a Proprietary firm which is more than 20 years old. When we met, he told about the progress of the work that we have awarded him.  I enquired whether he is getting the payments without any hassle or not. He responded in affirmation.

Then, he told that when he got the job from us last year then he had nine projects in hand. Now, only two are going on. He has filled tenders and is expecting to bag some new projects.

Out of curiosity, I asked, it must have been difficult to pay the workforce when you don’t have enough jobs for them.

He told, “I have laid off few new employees who were doing low end jobs. I retain my old and senior level employees as it is difficult to get qualified people. We are not a Limited company, so everyone is approachable to the owner. I have to make sure that everyone is happy.  Many a times, we have to hire someone at a very high salary when we get a project. It makes the existing employees unhappy. So, I try now to retain the good employees even when I don’t have job so that dissatisfaction in employees can be avoided.”

He added, “Yesterday, my welder called and told me that his mother had expired. So, I got his flight ticket arranged”.

I told, “That’s impressive”. He even provides accommodation, transportation, food, laundry facility for free to his employees. The salary that he offers is also decent.

It is really not expected for a Proprietor to match the kind of facility people get in the elite companies. I was impressed with this man, who was full of humility. He left after a 10 minute discussion but gave some words of wisdom.

He made me realize that running a company is a different ball game all together. You have to win people to retain them for years. Only then they will not go somewhere for a 20% hike in salary because they feel at home at your company.

There is nothing very unique but it made me think and I wrote about it as I want to remember that old man and his words forever. Writing is Powerful ☺

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How to get funding for your startup?

Question: How can I get in touch with big companies like Softbank or great persons like Tata to get funding for my startup?

My Response: Here it goes... Ask yourself these 3 questions?

1. What is your startup all about?
2. Why you are here in the market with a new company? Is there a deficiency in the market ? What is your USP? How are you different from the existing players?
3. Explain how you can offer better product or services at better price.

Once you know the answers to all these questions then,

1. Make a Professional Business Plan
2. Prepare a presentation
3. Take baby steps
4. Don't think to get funding from Tata initially
5. First try to create something worthwhile and make someone interested to fund you.
6. Read more from the article 7 Tips from a Startup Evangelist to Budding Entrepreneurs 
7. For more specific response, post your query on the discussion forum of my blog

Good Luck!!

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What Gaurav Munjal, founder of Flatchat taught me?

Disclaimer- It's going to be long post....the lessons I learnt will be explained at the end.

What Gaurav Munjal, founder of Flatchat taught me?

I have read various stories related to strangers. Mine is a bit different and really unique...It is about a stranger who touched my life without we meeting in person. 

How? 

May be due to Destiny..Karma or Luck (what ever name you like).

Actually, it happened last year during the summers. It all started when I read an article on YourStory by Gaurav Munjal. In the article, he has mentioned that one must read Harry Potter. He further wrote that if someone is 23+ age then he need to just request for the book in the comment section and Gaurav will buy and gift it to that person.

Snapshot of Gaurav Munjal's Article

I never pay heed to these advices. But that day, without any expectation, I read the article and then went to the comment section to provide my mailing address. (PS- Prior to reading that article, I had no intention to read Harry Potter)

The chapter closed for me. But not for him.

I clearly remember, I was winding up for the day in office that evening when the office boy came with 3 envelopes. Rakshabandhan was just after a  few days and I expected to get Rakhis from my sisters. But, I was curious to find that on one of the envelops the sender's address was not there. Out of curiosity, I opened that envelop first to find that it contained a book of Harry potter.

This book was gifted to me by Gaurav Munjal

But, I forgot  about the Gaurav Munjal's promise. I was so happy to get the book as I am a book lover but I was just getting anxious to know who has sent this to me.

Well is it my little sister...no..she can't ...then might be that cousin who stays in Bangalore. But, she has told that she has already sent Rakhi to my native.

Just couldn't hold the temptation to know who couriered this to me. Suddenly went to find the office boy but he had left for his home.

I was getting more and more curious and I suddenly opened the book to find out the personal message from Gaurav Munjal. I felt so good for his sweet gesture that can't describe it in words. This was a surprise gift for me.

Personal message from Gaurav Munjal

Through this episode, he taught me very important lessons without meeting in person. I am sharing the lessons learnt for all of you:

• Do good things for others for no reason- It can cost you few bucks but you never know, you may inspire a soul or lift the spirit of someone who is feeling a bit low.
• The world is small- It is important to give the credit due to someone in style. I was moved by Mr. Gaurav but my personal thank you note to him never satisfied me and I knew that someday I will surprise him in style. The world is small, last month I joined quora and this month our paths crossed again and I followed him. I am excited to write about the experience which is almost an year old.
• Inspire- In your lives, if you start doing things which inspire others..then you can consider yourself successful. Money, Power, Fame, Respect.. thy all shall pass but the good you do will remain there forever.
• Better Late than Never- I have been feeling that I should have appreciated his good deeds quite earlier. But, better late than never.
• Appreciate small things- Many small joys go unnoticed or we forget to appreciate them. So, make a resolution not to miss an opportunity to appreciate the good deeds of others.
• Startup Enthusiast-  The startups are dynamic places to learn. Its not required that you join one to learn from them. You can follow their founders and employees on social network and you can read articles of Yourstory to stay updated about Startups. You can learn plenty of things from the success as well as failures of startups. They inspire me and I believe that they will inspire you as well.

Facebook Message exchange with Gaurav Munjal after getting the gift

BY- Rohan Sinha

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Come on Flipkart...overcome this communication problem and give me a hug?

Photo credit-   https://en.wikipedia.org/wiki/Flipkart

I was an ardent fan of Flipkart but the loyalty is fading with time. I think it is because of the following:

a. I am their customer since they were a novice in the market, selling only books and stationery.  They were the company through which I made my first online order and they helped me build my trust in purchasing things online. They somehow couldn't manage to keep intact their loyal customers and hence people like me flocked away to other e-commerce sites while being happy for the rise of Flipkart.

b. They moved on and so do we: We never felt that Flipkart is doing anything to retain their original customer base. So, the affection for Flipkart started to fade, and the process is going on. I want them to Read How an E-commerce company turned anunhappy customer into an Ardent Fan

c. I still admire Flipkart, as I have watched them grow over all these years, I am still their supporter, their well wisher, their self nominated brand ambassador and also their critic.

d. Most of the time, I have felt that they fail to convey the message they intend to give. For example, they are running a campaign #AachaKia nahi kharida. But, I couldn't understand the intent when I saw it on the TV for 7-8 times. I was feeling a bit dumb but still I asked my friends about the point this ad wanted to make. I was surprised to know that they were also equally dumb as they also didn't had any idea, what was the point Flipkart wanted to establish.

e. It was only yesterday that I came across an article regarding how Snapdeal trolled #AcchaKia campaign of Flipkart. It was only then when I came to know that Flipkart wanted people to know that they have sale on their App from 22nd to 24th June, 15 and hence should buy things during that time.

f. This is not the first time that Snapdeal has trolled Flipkart, its Big Billion day or something like that was also trolled beautifully. I really feel that Snapdeal is really smart in communicating their messages while Flipkart only make people feel dumb as many a times we have no idea what they want to say.

g. Flipkart has started behaving like a Big Daddy of E-commerce Industry and are doing very little to win the trust of the people. Probably they need to relook into their strategies to save billions on Marketing and Public Relations while winning the trust and love of people.

h. It is my personal feeling that the customer care of Flipkart should improve.

My best wishes to the company which gave me the confidence to make online purchases. I have fond memories of my online purchases from Flipkart. I have ordered lots of Cooking Recipes books for my Mom, many good books for my brother on his birthday, a mobile for my sister and so many more things. You have taught me to shop online; I am indebted to you and will always be your admirer. Now, you must have understood that I criticize what I don’t like about Flipkart in the hope that my genuine feedback might help them to overcome their limitations and they keep on growing and evolving always. Here is something which Flipkart can learn from An Startup Evangelist .

Edit1- This is trending of Quora as per my standards, 5100+  views and 146+ Up votes with only 10 followers on Quora. Am I crazy? View it yourself.

BY- Rohan Sinha

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Why Quality is a Dark Horse

 Of course, many a times, we have heard whether quality checks and controls are enhancing the progress or are undermining it. It is high time that we address this topic so that we can understand the role of quality. Quality is not something which can be induced from external sources. It is an integral part of our life and our work culture. We cannot achieve anything unless the quality of our work is good. In this fast paced world, sometimes we feel that giving more priority to quality affects the progress of the work at hand. However, many will be glad to know that actually it is the other way round, i.e. adhering to quality norms is the sure shot formula of progress. A poor quality job is a waste of money, effort and brings disrepute. Whereas, good quality is something which delights, motivate and encourage to work.

Working by following all the quality checks, controls and procedures will result in fewer or no reworks. If people strive to do justice to their job by doing quality work then the progress will be enhanced. It promotes a culture of doing things correctly in one go rather that the trial and error method of working. Also, it improves the morale of the team and boast their self confidence which enables them to be more productive and hence we can rightly confirm that quality enhance progress.

We, Indians are very cost conscious but we also have to be quality conscious to reach new heights. In this competitive world, everyone is trying to outdo others by becoming more and more cost effective. However, we can create benchmark by doing works with impeccable quality standards. It is the only way to beat the competition and go far ahead from our competitors. We must follow a system of rating the quality of our employees and our suppliers. It should be given due importance at the time of awarding jobs to subcontractors.

We have wonderful examples which prove that quality enhances progress. Do you know how Apple sustained the cut throat competition in the mobile manufacturing industry? Apple has its own customer base that appreciates and admires the excellent quality of apple products and they purchase the apple phones despite high cost because of outstanding quality. The quality of apple is driving the company forward. On the other hand, cheap Chinese phones have a reputation of being a use and throw product due to poor quality standards.

Outstanding Quality standards enhance the customer delight and result is more jobs for the company. It signifies the progress of the company which in turn is contributing in the progress of the nation. We are working for the nation and have contributed to the wonderful gateway to the world- Our new Mumbai Airport.  So, trust us Quality will only enhance PROGRESS and will never ever undermine it.

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