bhanu 2.0

Last few days have been very hectic, could not keep up my resolutions(that’s y i added the word guidelines)completely, but it wasn’t a complete disaster either. except my acads related preparation all other things are moving at a great pace.
After reading 6 hours+ daily about business and related stuff i am totally fascinated by this world. The world of board room meetings, world of real life challenges, devotion , failure , success, everything is there. Finally i am not feeling that awkward to imagine somebody asking me the questions like”What do you want to do with an MBA degree OR why IIM?”
all this has suddenly helped in waking up the entrepreneur(PRON- ahn-truh-pruh-nɶr) inside me, who want to do something out of this world, who want to surpass the names that have ever appeared on the business horizon, who want to help in changing the way the world has lived till date , the one who is willing to think the unthinkable.
Ahm Ahm! Now you will surely say that this normal kinda guy who till yesterday was more concerned about the fate of Saloni (on Zee TV, 9:30 pm) has suddenly gone mad n would surely attribute this to the excess reading without any previous habit of doing so. But i tell you after going through all those success/failure stories i can safely assess these things –

Business require courage:- brain and business are not related to each other and money has a great inclination to be with businessmen rather than being into pocket/accounts of a techno guy.
What i mean will be more clear by this example – “a .NET guru worked hard for last 15 years , finally he settles in Noida and from his hard earbed money, he buys a flat through an established Real State guy.. the deal is worth 2 crore. the real state guy made some 20 lakhs in a day just coz he was in this business.. after all he is a businessman” .
but business require courage. Anyone who is good enough in .NET will be having a secure career but there are so many real state guys on roads.

Business is more satisfying than Job:- Just imagine how will it feel when your own business attains a height that you once dreamt of, your business is like your own child, you will love the way it grow, you will be troubled when it doesn’t do well. Just like your children they will carry your name forward. in comparison a job is a bit monotonous and less rewarding. The max you get is a lunch/dinner party on completion of a project(for which you toiled hard fo months) and maybe some paltry monetary incentives. it is kinda comparison between being parent and being baby sitter. I hope you understand what i am trying to say.

Feel Fresh and feel intensely:- To be hit you need to come up with a brilliant idea. though their are philosophies that you can penetrate into established markets with better execution(higher customer orientation, better streamlining of efforts etc).. but isn’t it a better idea to create your own market altogether(examples like HOTmail by Sabeer bhatia, IPods by apple, MakeMyTrip or for that matter even burrp).. all these are based on relatively new an fresh ideas, hardly any market existed in this category before they came in. But they came and created a whole new market on their own.

Understand the market, competitors and partners:- Now all these three forms the backbone of your planning. if you find a good market that is still untapped then you have already won half of the battle but yeah its just half of the battle.
While getting into an untouched territory you should not forget that there will be competition once you make it click, Now let me discuss this point with the help of this simple example-

Suppose doing business is like having a loyal customer and engage him in listening to your music(hee hee that’s what big companies do.. making the customer dance to their tunes :)) , now market is like spotting such customer/listener alone and who is willing to listen to your music. If you can spot such a customer your half work is done.. reach out for this customer and charm him with your music(business idea).

point 1:- Finding an untapped business area is akin to finding a lone customer who is willing to listen to your music, entering into an saturated business is like trying to attract people who are already listening to music of your competitors. lot more difficult to execute.

point 2- as soon as you engage this customer with you your competitors will notice this .. now the strength of your idea and its execution plays a major role in preventing others from disrupting your show.

Find an untapped market/free listener, charm with your music, quality of your music and the extent of customer’s involvement will decide the level of barrier for your competitors to jump into this market.

point 3 –Finally if you are making profit than surely others will jump into your business an will try to snatch a share of the pie, either your customer is not at all bothered by their music and keep listening to you loyally, it means you need to have near perfect execution plans in place or maybe hold of the major market share so that you can simply dominate over your competitors, in this example either you have to have too good a music or otherwise good music which is very loud , so that you can shield your listener from others.

point 4 – other point is that suppose you were the first in market so you completely dominate it for the moment but you are not delivering the quality to the customer. Like you have a loud setup but the quality of music is very poor, the customer is listening to you coz their is hardly any other choice .. once someone else enters the market your customers will be more likely to give at least a try to the other guy.

point 5- now suppose you have a competitor who is loud and melodious enough to get some notice from your customer. now he is playing a different traffic so it affects your music(and in turn profit) if the market size is limited than you have two choices:-