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  • 09 Jun 2017
    E-commerce seems to be dead as a new business to many, except when they see startups like “Licious”- An ecommerce company providing meat at your doorstep at a press of a button.   Time is precious and Licious packages it as a value proposition along with the best quality processed meat for its premium customer.  The company was founded by Abhay Hanjura and Vivek Gupta in 2015.   Abhay and vivek loved lamb chops and fish steak, but every time they ordered those from a restaurant, they found the food lacked texture and was often insipid. They researched and found that when meat was stored between 0-5 degrees centigrade it remained fresh, but when deep-frozen for longer use, it became hard and tasteless. This led to a business plan to deliver fresh and hygienic meat at the customer's doorstep - a product curated based on the customer need.   Maths and cash flow economics is important in ensuring that you create value. “We follow Zero inventory model and have perfected the art of estimating demand with hardly any wastage. Customers can order online through our application or by calling us between 8 am- 8 pm, getting free shipping for a minimum order value of INR 300. ”, says co-founder Abhay Hanjura.   Licious raised $1 million seed funding in 2015, $3 million in Series A funding in 2016 and $10 million in Series B funding in 2017.  Scalability and delivery model have created the magic. A former finance controller at venture fund ‘Helion Advisors’ Vivek Gupta says, “Our model for every city will be one central processing centre with 8-10 delivery hubs. Larger cities may have 2-3 processing centre and 15-20 hubs”. In Bangalore they now have about 50,000 orders a month, averaging at about 1,500-1,700 per order and a customer base of about 30,000 users. Before the end of the October they are plan to reach the target at 1, 00, 000 order per month.   Swiggy, a food delivery app, has invented a new model of food delivery with delivery boys collecting paychecks at point of delivery. The model which focuses on keeping the kitchens running for the restaurants for their profitability has been received warmly by the investors when the large ecommerce players such as Snapdeal are shutting shop. Discovery of need, greater personalization and a better customer experience will define future businesses in the ecommerce. Customers will welcome those offering solutions that do not exist and experience that is similar to in store purchase. The product quality both online and offline will be the success mantra for newer players in the market. Product curation with product knowledge and expertise will be required to make it more enjoyable and all rounded experience for the customers.   Ecommerce is ultimately about presentation, execution and the math around it. If you get it right, the rest will follow. The next wave of ecommerce will be Artificial intelligence with revolutionary algorithms, optimizing experience, cost and speed of delivery. This will be a game changer and those who take the lead will be the next ecommerce giants.  
    336 Posted by Sandeep Maurya
  • 13 Dec 2016
    On 16th Jan 2016, Prime Minister Narendra Modi kick-started the ‘Startup India, Standup India Campaign’ with the intention of building a strong ecosystem for nurturing innovation, driving sustainable economic growth and generating employment. Prime initiatives taken by the government are focused on reducing regulatory burdens, funding, Industry-Academia partnership and incubation. Start Ups now have access to Single Window Clearance and 10,000 crore fund of funds under the program. There is  No Capital Gains tax and Income tax applicable for three years and special schemes have been announced for women entrepreneurs. RBI has proposed relaxations enabling start-ups to receive foreign venture capital investment by permitting Foreign Venture Capital Investors to transfer shares to other residents or non-residents. Start-up India Hub has been created to foster mentoring for start-ups and to help them in obtaining funds and advice. The government also launched Mudra Bank in April 2015 to boost the growth of small businesses and manufacturing units. The new Bank provides a credit facility of up to INR 50,000 to small businesses. NASSCOM has started a program called 10000 startups in association with the industry and aims to facilitate and incubate Start Ups.     The government is doing its part, the world considers India as a hot investment destination and angels and VCs are in line, looking for bright ideas in the market that has more growth potential than any other across the world. Softbank has invested US$2 billion into Indian startups. The Japanese firm has pledged the total investments at US$10 billion. Oracle announced to set up nine incubation centers in Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Trivandrum and Vijayawada. Many other corporate and MNC's have announced several other funding and incubation programs. This is a big boost to the entrepreneurial and start up machinery in the country.   "Is there one invention from India that has become a household name in the globe? Is there one technology that has transformed the productivity of global corporations? Is there one idea that has lead to an earth shaking invention to delight global citizens?," asked NR Narayana Murthy, chairman emeritus of Infosys, while addressing the second annual convocation of the Indian Institute of Science (IISc), Bengaluru. "...the reality is that there is no such contribution from India in the past 60 years," he said, answering his own question.       Wake up India, it is the time to innovate and launch your ideas. Never before has the time been more ripe to do something of your own. Education, bureaucracy, money and infrastructure is no more an excuse to not to unleash your creativity. Make use of the favorable regime and investment environment, realize your ideas and turn them into giants that are not only revered and followed, but also set examples for other developing nations across the world.  
    280 Posted by Sandeep Maurya
  • 31 Jul 2016
    Rio is all set to host the 2016 Summer Olympics, becoming one of the first South American countries to have received the honour to do so. Being a host to a great number of countries and organizing a great number of games and sports, the events are said to be organized in thirty-three different venues in Rio and five other locations in different cities of Brazil. With 5th of Augustround the corner, the thrill and excitement is only getting bigger and larger with passing time. The opening of the Olympics are always grand and not worth missing. With the spirit of celebration, Olympic Games respect patriotism and sportsmanship at the same time. While, there is a huge buzz of the grandeur that Olympics has brought in Rio, there are other news that share the headlines with it. When most of us are eager to look at all the fireworks on 5th August, some are dejected for not being allowed to make it to Rio. Recently, the World Anti Doping Agency (WADA) has suggested to prohibit not a few but a large number of Russian athletes to participate in the 2016 Summer Olympics on charges of doping. From weightlifters to cyclists to swimmers, all were accused of using unfair means and have been  restricted. The International Association of Athletics Federations (IAAF) has added 44 more track and field athletes in a list of 67 banned track and field athletes. Famous names who have won titles and medals in previous Olympics have been restricted as well, some of which include, YuliaEfimova, who won a Bronze in 200m breaststroke, Vladimir Morozov, who won again a Bronze in 4x100 freestyle relay in the 2012 London Championship and Nikita Lobintsev who won a silver in the free style relay in the Bejing Olympics. The list does not stop with these names; it goes on as only 272 of the 387 athletes have been declared clear to participate in the 2016 Olympics in Rio. This denial in participation due to alleged charges of doping on the Russian athletes is believed to be a curtain in order to conceal the on-going cold war. This is not the first time that Russia is playing this game. It has actively and equally given back what it has received and history is proof. In 1980, when the US, Canada and the other European countries embargoed the Moscow Olympics, it very well got back on them by boycotting the Los Angeles Games in the year 1984. This maybe just one of the many tricks played in the cold war game. People have started wondering if the athletes themselves are carrying manipulated urine tests to keep them away from participating. Purposely not allowing the athletes to participate because of a cold war brewing along for years is absurd as we tend to lose on the main objective of organizing international sports events, which is nothing but creating harmony and celebrating sports. This makes sportsmen feel miserable as they are bisected. One half of their body serves the country and the other pursues what they loved the most that is sports. The first half denies the second half’s right to do what it loves the most. Wars and cold wars should be dealt in different platforms and should leave alone the genre of sports from any tactful, offensive and violated move. We can just hope this issue resolves soon and every sportsman rejoices in the spirit of sportsmanship when the 2016 Summer Olympic Games commence from the next week.
    183 Posted by Sandeep Maurya
  • 05 May 2017
    Elon Musk, the greatest innovation juggernaut of our time, does not need an introduction. A man with the exceptional  ability to  walk thousand miles into the future has defied conventional wisdom in realizing the  power of technology. SpaceX and Telsa, two of his greatest creations, are businesses without any significant competition and they continue to set new standards for the entire business and scientific community.   SpaceX founded in 2002,  became the first organization- superseding NASA - to successfully re-launch and land the first stage of an orbital rocket in March 2017.  The success of the mission has opened new doors for the mankind to explore deeper space.  SpaceX is also well on its path to make lunar tourism a reality by 2018.   Telsa the electric carmaker  founded in 2003, unveiled its  Model 3  in March 2016 to take on BMW 3 Series and the Mercedes-Benz C-Class. The all electric beauty hits 60 mph from a standstill in less than 6.0 seconds. With less than 1 % in revenue when compared with General Motors and US$ 1.3 billion in red, Telsa surpassed General Motors to become most valuable US car company by market cap in Apr this year.   Musk and his brother, Kimbal started Zip2, a web software company in 1995. They sold Zip2 for US$ 10 Million in 1999 and Musk co-founded X.com, an online financial services and email payment company with the help of the proceeds. Zip 2 merged with Paypal and Elon made US$ 165 million when E-bay acquired Paypal in 2001. Among others Elon is also founder and CEO of Neuralink; co-founder and chairman of SolarCity and co-chairman of Open Ai.    How did Musk achieve this in such a short duration? Musk claims that he doesn't do something because others think so but Instead he reasons from first principles to arrive at a conclusion that works or doesn't work.  What does that mean? It simply means that he questions every hypothesis until he proves it right or wrong before he draws a conclusions on the premise. So what sets him apart from the majority of us ? Unfortunately most of us work the other way. We derive conclusions and create hypothesis to prove our already derived conclusions.   Like other successful entrepreneurs, Elon is also an avid reader and follows his pursuits with a conviction. Secret to his innovations is also his optimism. He however considers failure is a feasible option. This gives him enthusiasm to take on radically different ideas and pursue them. His ultimate dream is to colonize Mars and he genuinely believes in what he is doing. The ultimate cause rather than immediate gains drive him to continue delivering innovations and impacting human lives.   The Innovator is laser-focused on his interests, intensely curious, overtly optimistic, and unafraid to fail. What about you?        
    164 Posted by Sandeep Maurya

BLOGS  ››  Explore Your Start-Up Ideas

Start Up Tips 532 views Dec 12, 2016
Explore Your Start-Up Ideas

To succeed with your idea, it is important to work on the problems currently faced by a group of people. It ensures that the problem really exists. It sounds obvious to say that business ideas should only work on problems that exist. however, most common mistakes entrepreneurs make is to solve problems that don't exist.

Why so many start up venture into something that no one wants ? Because they are merely looking at doing something different, without gauging the potential of their idea. When we run our ideas with our friends they don't say they won't use the byproduct, but you get a response that it sounds great and they may potentially use it at some point tomorrow. However, after you launch, you have zero users.

When an idea launches, there have to be at least some users who really need what the byproduct is, not just potential users, but those who want it urgently. Usually this group of idea users is small, because if there was something that a large number of people urgently needed, it would already exist.

Enterprising people often hold back their start-up ideas as they fear that their ideas may be copied or ridiculed, instead of calculating the potential of the idea by exposing it to a community or group of people, who may become  potential users of the byproduct of that idea. Entrepreneurs have to move out to find this group of users and litmus test their innovation before investing time and money.

How do you tell whether there's a path out of your idea? How do you ascertain whether something has the potential of a next Google, Apple or Facebook, or it is just a niche product that may or may not succeed?

Most successful founders don't even realize at first how big a market they are targeting. They grow while exploring their idea and change their business model into something that appeals to a group of people who need their byproducts urgently. This is entrepreneurship.

 

 

Sharing ideas on a dedicated platform such as Idea Center on bornbrio.com will help you  get neutral reactions from those who don't worry much about the relationship, but consider the usability based on their actual needs. It is a litmus test for the success of your idea. You could potentially have a demand created even before you launch the final product. For sure you can get loads of suggestions that can be filtered to create a much more refined product.

History testifies that people have indeed copied  ideas, however, not before those ridiculed ideas proved themselves for those who  replicated them. For example, Ola  copied Uber’s successful business model after Uber was valued in billions of dollars and e-commerce marketplace player, Flipkart expects government to provide protection to counter the leader -Amazon in its ecommerce business. Neither Uber nor Amazon made any efforts to wrap their ideas and make them confidential, but they went on to try them by talking about them.

Groundbreaking ideas can rarely be copied before they become a reality, because they are different and need skills and in-depth thought process unique to the individual who successfully grooms the idea into successful business. More often than not, potential ideas die their death, due to lack of knowledge and skills to execute them.  In other cases the idea simply seems too attractive for the individual who thinks it, but is unable to gather the momentum in terms of the users of the byproduct of that idea.

Sharing your idea motivates you to work further on your half-baked ideas when people question, appreciate and inspire you.  You can get a co-founder, who shares your vision. You will also have access to mentors who will guide you on your way forward and  the investors who may be willing  to bet on your idea.

Testify your ideas and gather the groups of users who need its byproduct urgently. That's the sole mantra for success. You can do it by keeping everything confidential and investing in each of your idea, before most of them are proved worthless, simply because there are no users for your niche or you can start today and publish whatever comes to your mind and select those who appeal to a group of users.

Think what would happen if all of the startups in Silicon Valley suddenly stopped talking to each other? The answer is predictable: deal flows, partnerships and innovation would stop. The time that an idea takes towards becoming the next giant will only go up multifold and many ideas which get ridiculed, would  not even see the light of the day.

Go on and share your thoughts on Idea Center at www.bornbrio.com. Realize the next big venture with the Innovators, the group, who needs your products.