New Media, Marketing and Entrepreneurship

Before I venture ahead into this post, I would like to extend an honest “Thank You” to everyone who has stood by me, towards raising up Until ROI. Though I may not be able to put all the names, let me try and recount all I can in the time I have:

My Mom, Kamal Sir (my graduate school professor), Avinash Raghava (the turning point of my professional life), Neha (a great support), Sarika (one who knows, I’d be too lazy to work on what she says always, till she scolds me bad ), Sonam Budhiraja (a great support to Until ROI), Akanksha Seth (a great friend), Gargi Sharma (a great support and a fantastic human), Geetu Mam (this is one lecturer whom I used to adore in college times , one lecture I never bunked)

The first turning point in life

Just a little over 3 years back I bumped online into someone who, with his insights and thoughts, actually helped me evolve as an individual. Avinash Raghava from NASSCOM. Avi has been both a mentor, guide and a friend of sorts.

I remember, when I had this super lucrative job offer from a large company, Avi called me up and actually helped me decide by saying: Paritosh, Job or Until ROI. And he said, if you utter Until ROI, well, we wont discuss the job part again. And we did not. And today Until ROI has challenges, but we are poised to create a success story, a part of India’s growth story!

Avi, as I call him, and many others too, extracted the best out of me by making me always push for raising my level of performance. And I am so thankful to him always for this.

The Second Time, Life Took a Turn

This one encounter with a gentleman called Rajiv Mittal, has been one of the steepest learning curves in my life. Rajiv Sir as I call him always, is a Mentor, not just to me but for Until ROI. He is one of the best people undoubtedly who you must work with once in your lifetime in the industry.

Rajiv Sir, has helped me evolve as an entrepreneur over the past 6 months and is now helping me transition into a well bred CEO. And Mind you, he’s not another mentor, who will come and share his insights. He actually has sat with me overnights, late at work, helping me work on various aspects of business, running a venture, raising capital and much more.

I am not sure about the others reading this blog, but how many times the mentor actually takes your work and does it?!

And well, in all honesty, its not really the fact that he’s just been a client, its a relationship on a different level. Try telling your boss/ mentor/ Chief, that I dont agree to you and go up against his views and put up a fight, well, chances are somewhere it snaps. With Rajiv Sir, its on the other level. We argue, we listen, we learn and at the end of the day Iv always actually seen that his experience wins. His insights into what may happen right/ wrong actually proves right.

For Emerging companies, having the right insights at the right time is very crucial and obviously you as an entrepreneur, must always be ready to learn and un-learn from such people in your life. Be open, and you will create magic faster!

I surely am excited to be on the path to raising up a successful enterprise and contribute to the nation’s growth thank you all again, look forward to your support always!

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I am a Social Media Marketing evangelist and started my Internet career as a blogger almost 2 years back.

Since this time, I have connected with many people, from some of the best in the Internet domain to some real sharp entrepreneurs, who have given their comments on the various business models which startups and the established Internet/ Online companies are following.

Scale up or Shut Shop

Out of my interaction a couple of days back with a highly placed and successful Internet entrepreneur, a revelation jumped out, which in a way took me by surprise, as I was always present to it, but not really in the real sense of the action.

Over a cup of coffee, we discussed the following:

1. Is working with SME’s in India really that easy into Social Media?
   • Are they good paying customers?
   • Are they easy to grab?
   • Do they really have the time and resources?
2. How, many huge clients (some of the top companies in India and Abroad) are looking for all kinds of services into Social Media and are ready to pay for innovative and rewarding work

Now, I had this idea about how social media campaigns are made for these big fat clients, but never had someone who is doing it in real time, telling me, how much of it is true!

Thus came the BIG realization!

There are these big companies who are asking for partners in the online world, who could do some really innovative stuff. When I talk of innovation and results, I am in a way referring to the likes of Sunsilk Gang of Girls and TATA TEA Jaago Re.

But what I was not aware of was, trivial and almost commoditized offerings in Social Media as creation and seeding of content on the various Social Media channels, these BIG companies are asking for such services as well as an integral part of the offering and are paying good sums for the same.

Many small online marketing companies are offering the same set of services to their clients which represent the SME/ Startup space.

But would the business model sustain?

I am not saying NO, but surely I think its going to be very very difficult. Even if as an online marketing company your differentiation is the market that you are serving, you still have to consider that your market should be sustainable enough and you should have enough resources to crack the market. Some questions that you should answer:

1. How long is your sales cycle?
2. Do you have enough resources to hang onto your tables?
3. Is a low paying and yet more demanding market, the best way for you as a startup?

Moral of the story?

Am I saying that small online marketing companies would not sustain? Well, not really! But surely such companies would find it really hard to sustain. The model over a longer run is surely not sustainable. Moving up the chain and crossing over to the clientle, which is sustainable for your business, is an absolute essential.

Price war?

Not really, in my personal opinion, price is surely not a differentiating factor which smaller companies can establish and fight over. Otherwise the shark will surely eat away the smaller fish.

Finally

There is enough business around, all you need to do is create the right set of expectations with the client and deliver innovations which would help the client get a high over, through short term wins, and will also help you establish long term relationships with your high net worth client!

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Dheeraj dharm mitra aru nari aafat kal parakhiya chari”
- Tulsidas

Remarked Prof. Sanjiva Dubey, addressing the 40th Friday’s 2.0 session @ NASSCOM, New Delhi.

The session started with Mr. Ankur Lal, Chief Executive, Infozech software Ltd. introducing the participants to the session and the EMERGE community.

- I am a fellow traveller, said Sanjiv before igniting the present minds. Well it was not just igniting these minds, Sanjiv had a huge task of not only sharing his insights but more so in calming down the anxious people in the room, who all shared a BIG single concern, that of  - what to do in these market conditions?

Sanjiv’s opening line did the magic “an SME won’t turn into an Infosys in a matter of days or months, its rigorous practice”

In these BAD times, Sanjiv smiled with a GOOD news for all, “Every IT giant was an SME”, thus everyone grows! A few examples Sanjiv shared-

• Google, HP amd Apple were started in a garage
• Adobe was atarted by ex employees of Xerox and named it after a river that ran by the neighborhood.

Before we go further, how many of you would say that you don’t know this name – Western Indian Vegetable Products Ltd.?

Well, I am talking about WIPRO Ltd. in this case.

Thus was set the mood in the room, which made the participants feel that the bad times though have their share of “bad moments” but they come along with lots of opportunities as well.

Coming out with Unique-Creative-Innovative ideas, this is the right time to effectively implement these strategies into the SME’s business plans. Sanjiv in fact emphasized on the importance of the above for not only the SME’s but also every IT company, referring to his book.

All SME’s which emerged into a mammoth organization had just one “creative innovation”, on which the empire was built on, remarked the experienced professional.

Challenges for an SME

• Limited opportunities for Economies of Scale
• High Development cost, Low profits
• Losing customers, no repeat orders
• High cost of marketing

Enough to make these bad times, sound really BAD!

But Sanjiv keeping his poise, said in bad times SME’s should test these four -:

• Patience
• Persistence
• Pals
• Partners

Also were shared certain crucial things that according to Sanjiv, should never be done during a downturn -:

• Don’t panic
• Don’t let your clients/employees/investors panic
• Don’t believe everything you read
• Don;t brush aside everything what you hear
• Don’t isolate yourself. A team is more successful than an individual

An interesting thought and example that Sanjiv shared, was when he bagged a big contract competing with the market leaders a few years back, by creating and maintaining a “consortium” of companies, which was a lesson towards why a team is more important always.

Remain glued to the ground!

Whenever you’re glued to the ground(you know the situation and how would it affect you) you don’t panic as much.

Sustain a day at a time, which Sanjiv innovatively termed as the ICU(intensive care unit) model!

Your organization is like the human body, with the Brain representing Creativity, Lungs the Cashflow and the Heart, Enthusiasm.

All the vital organs need to be kept alive at all costs to keep going, forging new relationships and leverga these learnings when the right opportunity arrives.

Socialize, serve others and don’t hesitate to collaborate!

We as IT companies are running towards getting into our own niches in the race to prove our niche expertise. But in these times its innovative collaboration which works!

Sign up at the first signal of ecosystem change, be observant and be quick to notice the change, was Sanjiv’s advice to the SME’s. Survical at any cost and rate is mandated.

So, you meet your team everyday? Well, go have lunch and meet them twice a day now!

Innovating the business model by the IT industry

• From labor based to annuity based
• From being just a cook, you now need to take care of the entire wedding

SME’s can do so by forging long lasting partnerships with already established IT leaders. Specialize on a particular domain. Niche matters!

Good news, In bad times, you’re not pressured for deadlines, thus what you have is time in hand to do what you could not have done and missed the bus while concentrating on other things in the emerging and happy times.

Corporate Discipline

Instill discipline in bad times. With a slide presentation showing the royal guards, Sanjiv made a point which he emphasized by saying that discipline is of utmost importance and cannot be negotiated upon.

The FIVE S (5S) formula-:

1. Sort
2. Straighten
3. Shine
4. Standardize
5. Sustain

In the context of the current market scenarios, Sanjiv essentially made a point which struck the right cord with the participants, who all consented that these things are important. Go build relationships, which was supported by an example from Sanjiv’s personal life, about a client for whom he went the extra mile, and the client still remembers him, (whether times are good or bad).

Flawless Execution

The client saves a lot by getting his work done, by an SME than by a big player, all it demands is flawless execution, responsiveness and customization. And the room was fresh with positive vibes

Finally -:

Go find a mentor who can help you in tough times, Sanjiv placed the importance of having the right Mentor high up on his list.

Guru gobind dono khade, kaku lagun pau…

balihari guru aapne gobind diyo bataye…

- Tulsidas

The session drew to a close, with Sanjiv again being one with the participants, re-assuring them that we all are in similar times, with his words-:

Main aap apni talash mei hun, mera koi rehnuma nahi hai..

Mai kya dikhaun raah tujhko, mera apna pata nahi hai..

Link to the post at the NASSCOM EMERGE Blog: http://blog.nasscom.in/emerge/2008/10/18/from-caterpillar-to-butterfly/

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