Vikram Chadaga

Should you have the perfect business model to become success?

Should people like your product before you launch it?

Should everything be perfect before you think about starting a venture?

Here are my thoughts on this, please feel free to comment on it or add your own views.

1. Idea

It is not important to have the right idea. It is important how you execute it. As engineers we always focus on the idea, we wait till we get the best idea and then think about jumping into it. I feel that should not be the case. Even if you have a simple idea and you think you can do it better, then you should jump into it. Consider the case of Cane-O-LA, all they do is make sugarcane juice. The idea is so simple, people made sugarcane juice for years. But still we have a whole new venture out there with sugarcane juice!

2. Design

Once you have selected your idea, focus on getting the best design. When we are making a product you should not neglect the design. “First impression is the best impression”. You could have the most useful product but if the look and feel is not good, then it is hard for people to get started with it. Good design will help you overcome people’s resistance for trying a new product.

3. Engineering

For most of us this is our domain. Lets make no mistake here. Finally we are building our own product. It is time to bring the passion out. Make sure everything in the product goes well. Give your best here. There is no manager’s pressure to just finish the work. Give your best you can’t go wrong.

4. Packaging

We have learnt the hard way here. We have done repacking of ION, USB Charger. Never compromise on the packaging. Different things that can be done here. 1. To do what everyone else is doing. Follow a standard packing. 2. Make something totally different. But understand the minimum requirement of your product packaging. Eg: If you are a small electronic product make sure you have provision to hang the product.

5. Sales

Lot of times people will say no one will buy your product. I don’t believe in this. No one will buy your product if you don’t know how to sell it. The key is to sell it right. You need a good sales person if your product is bad or your pricing is bad. But for a good sales person it doesn’t matter. Again if you have screwed up in the above 4, then make sure to get the best sales person. 

Conclusion:

It does not matter if you have the perfect things to start or not. It is ok if you are not able to prove in the beginning that people will like your product or not. Just make sure you keep your passion together and do the right things. Things will fall into place!

Often in companies we always hear about new ideas. If you are brain-storming for an idea there are many ideas tossed around, how do you develop all these ideas? How do you make sure there is no ego conflict of ideas?

Here in this post I have put down my thoughts about new ideas and how one can manage it and develop these ideas in a team.

1. Never criticize: 

It is very important to listen to what the other person has to say. Hear the idea out completely. DO NOT critic it. Not matter what you think of the idea DO NOT put it down. A person must have put in a lot of effort/courage to talk about it. The culture of thinking new ideas is good. If you criticize all the ideas, all the time, he/she will not come up with new ideas anymore.

2. If you can’t appreciate it, improve it: 

This one is my favorite. When you hear to an idea and you don’t like it, most of the time we want to put the idea down. We say “No it is not a good idea”. “It will not work”. “That is a bad idea”. Instead of putting out these negative thoughts, think about why do you think it will not work, and find out for your self how you can address it to make it work. It doesn’t matter if you cannot come up with a solution to fix it, throw it out there, may be someone else will think in the same direction and fix it.

3. Always complement good ideas:

It is important to complement good ideas and good thought flows in a discussion. This helps people to think better. When a persons idea is appreciated he comes up with better ideas.

4. The EGO

This is the worst nightmare of ideas. Most ideas are shot down because of personal egos. The big question is, How do you handle this. i.e. If you have an ego clash with someone in the team and he/she gives a great idea, don’t think about criticizing the idea or ways to put the idea down. Instead detach the idea from the person and imagine the idea being out there. Now develop it! 

After all an idea is like a seed, waiting to be nurtured and taken care to become the a big tree one day!

I wished most VCs thought this way