Mistakes & Learnings of a start-up...

[JCSaiKrishna]

Much of Entrepreneurship and less of Advertising...

Hi Everyone,
We participated in an event, Startup Saturday that was held on 11th, May at La Makaan, Hyderabad. We shared our success and failure stories with many fellow start-ups and wanna-be start-ups. To make this session more beneficial to the attendees we had drafted our mistakes and learning in a sheet, and distributed the copies at the event.

Here is the e-copy version of our drafted experiences that I would like to share with you all: (hope this is going to be beneficial to the people in this forum who are looking to move towards entrepreneurship.

[Paramvir]

I like the 'Do Not Overcommit or Over Promise', but dont like the 'Speed is better than beauty'.

if you have a good team, the beauty will come in a short while.

Also, did you vote this post here?

Since you are your own boss?

[Saumya]

So would you do that again? Would you consider these mistakes as mistakes or learnings? Given the chance, would you start a new company or get a job?

[JCSaiKrishna]

I cannot assert that I will never repeat them, but I learnt that it's not just about not making mistakes, but making up well for every mistake we do. And I consider them as mistakes which I would have avoided with clarity and completeness of thinking. Considering them mistakes will make me more cautious in every next step.

With a good team, start-up is one of the best things that can happen in ones life.

So would you do that again? Would you consider these mistakes as mistakes or learnings? Given the chance, would you start a new company or get a job?

[JCSaiKrishna]

Hey hi Paramvir, I dint mean beauty is not necessary, I was just prioritizing the two factors. Yeah I have voted "so so"

I like the 'Do Not Overcommit or Over Promise', but dont like the 'Speed is better than beauty'.

if you have a good team, the beauty will come in a short while.

Also, did you vote this post here?

Since you are your own boss?

[vikas]

Good work is what will bring in the business.

Why do you think agencies spend millions on spam ads?

[JCSaiKrishna]

okay, I am not really aware of how to strategize spam ads such that they bring business to agencies.

Good work is what will bring in the business.

Why do you think agencies spend millions on spam ads?

[Anjana Kamat]

I would also like to know your insights about runnng the business.

Wat kind of clients are you getting. What kind of money are they willing to pay? How difficult or easy is it to recover the rent, pay the expenses and have some spare money? Are more clients willing to go retainership or project types?

These are interesting things to know.

[JCSaiKrishna]

a) I haven't formalized the path to get into any specific industry, because before starting this agency I hardly got any contacts to take the forte of serving to any particular sector. Right now, we got into education sector, hospitality and real estate.

b) Compared to other metros Hyd has a very dry market now, what we get paid here is rated less than genuine because of the competition for the small market size available.

c) We have got into IIIT campus, we have rented space in terms of desk, not as in space or rooms. So, it's all about cutting our expenses to every possible extent.

d) No, clients are not willing to get into retainership, because
i) since the market is dull they dont have much marketing activities
ii) many moving into having inhouse agencies (i.e. one graphic designer)

Hope I have answered all your questions, if not please lemme know.

I would also like to know your insights about runnng the business.

Wat kind of clients are you getting. What kind of money are they willing to pay? How difficult or easy is it to recover the rent, pay the expenses and have some spare money? Are more clients willing to go retainership or project types?

These are interesting things to know.

[raja ghose]

This is really nice that IIT is offering you office space. Awesome! Do you have a role model agency?

[JCSaiKrishna]

Its not IIT, it's IIIT Hyderabad, yeah, its gud that someone is encouraging entrepreneurship.
I don't think I am experienced enough to talk about role model agency.

This is really nice that IIT is offering you office space. Awesome! Do you have a role model agency?

[Anjana Kamat]

Have you figured out a way to bill clients? Ad yiu profitable already?

[Anjana Kamat]

Have you figured out a way to bill clients? Ad yiu profitable already?

[JCSaiKrishna]

well, I havent figured out to get decent and genuine bills, probably the only way is prove more than what it worths, because of the cluttered market and its competition.

With zero investment, anything is profitable and so am I

[Anurag]

Bootstrapping is a good way to start a business.

What I am interested in is how are you chalking out your growth plans?