Filed under General

Sometimes being an entrepreneur sucks!

This week, I had to ask a colleague to Quit

This person (lets call him/her “X”) was one of nicest I’ve met … positive energy, full of ideas and very friendly. “X” has been with us for nearly two years, infact was one of the early employees; somebody who believed in what we were doing … at a time when nobody took us seriously.

There’s more: In the first year, “X” was very passionate about the work and quite enterprising as well. I promoted “X” to leadership role and everything seemed good. Colleagues loved “X” and were very happy to be a part of “X’s” team.

The fall:
The second year was a huge disappointment. “X’s” performance went downhill every quarter. There was a noticeable lack of passion and focus. Most importantly there was a lack of professionalism. Its almost like I choose absolutely the wrong person in a leadership role. It seemed that “X’s” only goal was to get to a leadership position … and that was the end of it!

Tasks that could have been done in a day or two took weeks and sometimes months. The quality of work was consistently inconsistent.
I’ve had several closed door meetings with “X” in the past year, on some ocassions asking the person to QUIT but for some reason (that I cannot explain) “X” stayed on. In hindsight I think it was a BIG mistake… and I’ve had to pay a price for it: Slowdown in the Organization’s growth.

Now that this person has QUIT, I have mixed feelings; for very obvious reasons, I’ll keep them to myself :)
Our entire team is SAD … they cant believe that they will no longer
see the lovable “X” at the workplace. It is as if a sibling has moved out of the house. “X” will be missed.
And it sucks to know that I’m responsible for this decision.

I hope they’ll understand that my options are limited. When you lead a startup: Very few decisions are easy.

In hindsight I think that if “X” was not promoted to a leadership position and instead was reporting to somebody, it would have been better for everybody.

I’ve learnt something here the hard way: Leaders are born, not made

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My Interview with DNA …

DNA covered MyBangalore.com in its 08-Nov-2010 issue. Story:
http://epaper.dnaindia.com/dnabangalore/

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Breaking News: Endhiran to be released in ENGLISH

Endhiran” starring Rajnikanth & Aishwarya Rai has created a huge BUZZ worldwide and some analysts believe that Thalaivar’s movie will shatter international box office records.

It is widely believed (in Tamil Nadu) that Endhiran’s box office collections may surpass Avatar‘s collections. James Cameroon has refused to comment on the issue (since the question was asked in TAMIL)

Endhiran will be now released in ENGLISH for AMERICAN viewers. To enable Americans to relate to the movie better, the film’s title has been changed to:
Beauty & the Beast

In a related development, at the Endhiran/Enthiran movie premiere in New Jersey, USA; former US President George Bush has  FINALLY confessed: “There are no weapons of mass destruction in IRAQ … Rajnikanth lives in Chennai

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Thought for the day!

It’s a sad thing not to have friends, but it is even sadder not to have enemies

- Che’ Guevara (The worlds most Iconic revolutionary)

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Geodomain Development: What works | What doesnt (Part-2)

In the first part of this series, I’ve touched upon why the current geodomain development model is flawed and doesn’t really maximize the returns on high quality geodomains.
Before suggesting a better model, let us first understand who our target audience in a geodomain business is: I’d say it’s primarily the residents of the city.

Reason:
Take the example of Denver.com. Who do you think cares more about the city … tourists / travellers OR Denverites? Who needs regular updates on stuff happening in and around the city … tourists / travelers OR Denverites? Who has the ALL important: emotional connect with the city … tourists / travellers OR Denverites?
Clearly, it makes business sense to focus on local residents, because it’s easier to engage them on a long term basis … the emotional connect is difficult to achieve with anybody else.

Local residents are looking for commercial content on city portals. They’re looking to discover & explore local businesses online. Don’t believe it? Check this:

Research shows that consumers typically spend about 80 percent of their income within 50 miles of their homes, and that about 30 percent of all Internet searches are commercial in nature. In fact, fully one quarter of all searches on the Internet are for both local and commercial content. These consumers are the crown jewel of search because they typically convert into buyers at a higher rate than any other type of online search traffic. As a result, advertisers often pay a premium to place their ads in front of consumers conducting local searches. Researchers forecast that a growing number of local businesses will begin to advertise their products and services through online search in order to reach these highly valuable consumers.
Source: Local.com

Next, we need to understand the needs & content consumption patterns of local residents. What do they expect from their local city portal? What will bring them back every day? How do you differentiate your offering from the BIG boys: Yahoo!, Yelp, AOL OR the city’s local newspaper website? How do you monetize?

One can categorize Local CONTENT into TWO types:

1) Content for everyday / frequent consumption
Local News, Reviews, Events, Alerts, Weather, Photos & Videos.

2) Content for Need-based consumption
Local Classifieds, Real Estate, Movie Listings, City Offers, Jobs, Yellow Pages, Online Shopping, Forums, Flight Status, etc.

It is important that content on a geodomain / city portal is highly localized. By including national or international content you will end up competing for eyeballs with Yahoo!, AOL, etc.  By all means that is a losing proposition! Stick to your niche: LOCAL

Monetization:
Geodomains need out-of-the-box thinking. Slapping together Adsense & generic banners (credit cards, insurance, web hosting, etc.) doesn’t help (unless you get millions of impressions each day) Considering that the traffic to geodomains may be significant but not gigantic, generic CPC/CPM advertising is generally a bad idea.

In the next part of this series, I will share some monetization ideas and divulge the secret of building high quality content on geodomains at very low costs.

PLUG! – Platform for building local (city) portals: http://doublespring.com/localengine/

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My Experience at the Income Tax Office

Yesterday, the 31st of March was the last date of our Corporate Income Tax eFiling. Procrastination is a divine virtue Im blessed with … and I pushed this important task (tax filing) to the very last day.

As luck would have it, we faced some issues uploading the tax returns to the Indian income tax website. My CA was overloaded with work (too many last minute filings) and asked me to head out to the regional Income Tax Office to get this issue sorted out… time was of essence.

Now, I’ve heard of some horror stories of people and their interactions with the Indian Income Tax department. Especially when you are not accompanied by your CA … there is a tendency to harass and treat even honest tax payers suspiciously or so, I was told (As a friend says “Shak, Shak, What the **CK”)

Anyways, the job had to be done and I landed up at the IT office near Indian Express. Had sufficient documentation in hand, just in case …
Met the PRO and he asked me to meet the IT Officer in the computer section. The Officer, surprisingly was courteous and patiently heard me out. At that very instant, the Income Tax website was offline (maybe due to the load) so he did not have access to our records. He asked me not to take the trouble of coming again and gave his office number. “Please call in 2 Hrs and we’ll help you with your issue”, he said. All this, while his phone(s) were ringing incessantly.

I went back delighted that our public servants are not the villains they are made out to be… not all of them at-least.

I called a few hours later, but could not speak to the concerned officer. I was asked to provide the company details and also my mobile number, the operator at the other end said they’ll get back as soon as possible. I sort of thought … gosh its not going to solved today and I’ll have to go back tomorrow … after the due date :-(

Guess what, I got a call an hour later from the Officer and my issue was resolved. The officer patiently waited on the phone for me to login and check if all was well. Too cool Macha!

Moral of the story: Things in India are not as bad as they are made out to be. Sure, they can be better … but its not beyond repair. So keep the faith!

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DoubleSpring nominated for TiE50

DoubleSpring has been nominated for TiE50 , TiECon 2010 – MAY 14-15, Santa Clara , CA
Details at  www.tie50.net

A big “Thank You” to the TiE50 Executive Committee, for considering us.

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The art of hiring

When you hire people that are smarter than you are, you prove you are smarter than they are. If you don’t invest the time to do it correctly today, you will spend more time and money in repairing mistakes tomorrow.

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