1. Bad hiring and poor shareholders agreement between co-founders  >It was always challenging to get best talent attracted to start-ups , hence we land up making quick calls on getting resources from MNCs and top companies without checking their knowledge background , technical tests , references.  Good side note; don’t hire your best friend for your start-up :). Always ensure you have solid shareholder agreement between co-founders, ensure exit scenarios and ensure what-if, when scenarios.

 

2. Protecting my idea for too long > we thought our idea was best of the world and it might get copied fast and we might lose whole business. Actually we were over-protective, my take is, get visible fast to market, shout -shout and shout. Still people won’t listen. So take balanced approach on sharing information about your “THE Great product in making”


3. Over-complicating processes and not able to un-learn from my past MNC experience > I left my well paid executive job and decided to try my luck in start-ups. While doing so, I dragged bag full of ego and lots of knowledge from industry, I thought I am the best and I know all.  Oh Boy, I was so wrong; start-up stuff is different beast all together. We must UN-learn and re-learn. No one said it’s going to be easy , but if you continue to believe you will make it most likely. Please don’t create processes to manage process, have simple and good web presence and solid simple co-lateral and marketing material.

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------Content owner : Manoj Sharma 

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Comment by Subhash Trivedi on October 20, 2014 at 9:49pm

Good One Manoj Ji.

Comment by Anuja Kulkarni Kumar on July 15, 2014 at 11:45am

Thanks for the guidance. 

Hats off to you!!

Comment by Manoj Sharma on July 14, 2014 at 11:49pm

Dear Anuja , 

Start-ups must be flexible but you should cross line of what is minimum profit one should make out of any deal. Every startup must define , lowest level of margin you gonna make and stand for it. So for quality and agree with your team and co-founders. You do this and your clients will respect you for your assertiveness and quality

Please do follow my new blog coming tomorrow on markets, sales and mistakes.

On client asking frequent changes and changing scope for fixed price  : We indians have habit of not saying no , I learned a great deal from Nordic work culture , NO means NO , its a respect for my hard work. Saying No saves time and global customers understands and respects there are limitations 

We must be able to say NO with credible data to back-up-up( why costs are high , why any logo or UI work will cost you 2000 USD vs 300 USD they are getting counter offer). 

Saying NO to customer , might lead to some cancellation , on the contrary in long run. You gonna win. 

"Dont take problem jobs " My mentor always guided me , short term problem jobs with low money to get projects as reference brings loads of negative energy and it distorts your fous

Comment by Umesh Dande on July 14, 2014 at 1:57pm

Nice one Manoj,

Thanks for sharing this with us.

Comment by Anuja Kulkarni Kumar on July 14, 2014 at 12:39pm

Good one. Short & precise.

Can you throw light on certain points- should we compromise with our project pricing just because we are not big brands? Most of the clients try to sign a fixed price project, at least with startups.....should we do that? (fixed price software development projects are very risky, client is not sure about his ideas and ideas keep changing!)

Comment by Nikhil J on July 12, 2014 at 2:52am

Good points. Thanks Manoj.

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