**Startup mania is over. **
Nine out of ten people who ventured out into dotcoms have ventured back into not coms.
Startups aren't fashionable anymore. they don't make it to the cover of business magazines, and VCs are running away even from the thought of funding them.
Anybody can start a company in good times, and the problem is, anybody does.
Starting off in bad times is for the committed, passionate entrepreneur. It forces you to focus on what makes money, and forces you to live within your means: two critical lessons many forget.
The only downside of the crash i can think of is that this newspaper no longer gets rich with clueless dotcoms paying crores of rupees for wrap-around four page ads.
By the way, where have all the dotcom ads gone?
A lot of Indian business traditionally has been about seeing what works in the west, and bringing it over here.
This is what people tried to do even with internet startups: India's yahoo, India's eBay etc. Sadly, this doesn't work in the world of technology and the internet.
If we shouldn't copy, why not try something a little different and innovate? Can we invent something here, and spread it around the world? ICQ came to you from Israel, Alumni.net comes to you from the Philippines.
What can you take to the world?
**ideas are nothing, execution is all. **
I'm often approached by people saying, "i have a great idea, how much will i get for it?"
The answer is simple. Zilch.
Ideas mean nothing. So you may have an idea about selling stuff online. Think up something new and different. then put on your thinking hat again and figure out how to run it and make money off it.
Get a team for a dream. Be ten times stingier than Silicon Valley.
A lot of business plans I've seen assume that Indian companies need as much money as US ones.
Don't even think of VCs. They're too busy investing in public stocks, trying to make some money for their investors and save their own jobs.
You may figure out you need between Rs. 20 and 60 lakhs to fund your business for a year before revenues come in to cover expenses.
Touch Dad and Mom for this, if you can. or that rich uncle.
_As always, I welcome your comments, if only to tell me how wrong you think i am. _
This piece was originally published in Times of India.
Read original on Times of India ↗
