tinker on

dreaming up a web that works.

Tag: Entrepreneurship

I don't get paid for working hard.

by Anjali Gupta

I don’t get paid for working long hours. (I don’t even get a comforting “I appreciate how hard you worked” speech from a supervisor).

I don’t get paid for the million emails, thousand proposals, and hundred presentations I’ve produced.

I don’t get paid for saying no to short-term opportunities in the interest of focusing on the product.

I don’t get paid for the hours I spend building the company’s morale, the team morale, and later my own morale.

I don’t get paid unless a large portion of the market accepts my product.

Who am I?

An entrepreneur 🙂 Read the rest of this entry »

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Sunk cost fallacy

by Santosh

For every brand and for every person, yesterday is irretrievably gone and tomorrow is worth a great deal.

– Seth Godin, on sunk cost and your personal brand.

Entrepreneurs are good at keeping their dream when everything about them is changing.

Chickens, Eggs and Entrepreneurs

by Santosh

An Entrepreneurs’ job is to evolve the Chicken and the Egg at the same time. You can’t wait around for one of them to appear and then make the other.

I heard this one at an advisor’s meeting. Long after the meeting was over, the quote kept playing in my head, conjuring images of a forlorn Chicken and an Egg appearing out of thin air. Remember, the insight should not be missed.

Job or Startup in a Recession?

by Santosh

Rishabh asks if one should choose a Startup or stay with a job in a Recession.

Anjali suggests that it is never the right time to leave a job. During a recession, if you got a job you better keep it because the Economy is shedding jobs. During an economic upswing, your salary is growing phenomenally and you will not want to quit.

I posit, the best time to quit when you have a plan and want to start working full-time on executing it.

Should I get an MBA?

by Anjali Gupta

Is the $100,000 branded MBA worth it? If this is going through your head, I strongly recommend reading this essay aptly titled “The End of the MBA”.

I am considering starting the local chapter of the NoBS (New Order Business School) described in this article. After spending two years with those who would make it to a branded school, I have a fair idea of who should get in. Just last week I reviewed over 10 essays from I.S.B. applicants and often get several such requests for many other schools. I think NoBS would be a great way to get future entrepreneurs together. Any takers for my plan?

Having got an MBA from Wharton, I feel rather strange endorsing this essay. The ironical part is that I recently gave similar advice to a large group of entrepreneurs at the TiE-ISB conference last week. The MBA gets you credibility points while hiring your first few employees and while talking to VCs (but those points can be earned by getting revenue or real customers too).

An MBA is not required for entrepreneurship. A close mentor of mine makes the point well. An MBA would teach you to manage risk. And entrepreneurship is all about taking very big risks or very big bets (depends on how you look at them).

I wish I had read the essay before speaking at the conference. Quoting Seth, ask people who are thriving in today’s economy to name five things that helped them succeed, and they’ll probably come up with a list like this one.

1. Finding, hiring, and managing supergreat people

2. Embracing change and moving quickly

3. Understanding and excelling at business development and at making deals with other companies

4. Prioritizing tasks in a job that changes every day

5. Selling — to people, to companies, and to markets

I waited four years to start doing these. If you still have a choice, don’t wait.

Warning: A branded MBA is a fantastic platform for many well defined career paths. This post applies only to those debating between launching a startup and getting an MBA.