“It costs 6–7 times more to acquire a new customer than retain an existing one” but what should a start-up do in a scenario where it has limited resources and even a smaller customer pool for getting the repeat business? This is where all the confusion and mistakes tend to start. Let’s see what SMART Plan is.
Though not one of the latest, still the lessons that the movie, ‘Band Baaja Baaraat’ carry, can even be implemented today. The story of two acquaintances turned co-founders turned life partners and their wedding planner start-up ‘Shaadi Mubarak.’
Don’t get too excited when a VC says your idea is great and talks about funding – Abhinav Sahai, Niswey
Abhinav Sahai, Co-Founder of Niswey Digital Marketing, shares the experience of his earlier venture – Moneno.com – an idea that was amongst the top 10 products featured in NASSCOM’s Product Launch, 2011. Venture Capitalists approached him and talked a lot about funding. To his astonishment, the actual funding did not happen, the team was left stranded and the great idea couldn’t blossom.
The best way to learn is to fall off the bicycle, explains Sumit Roy, founder director of www.univbrands.com, the world’s smallest learn-by-earning university of brand building. Here’s the real reason why Univads is now called Univbrands.
What happens when you don’t specify crisp and clear requirements? A lesson from Abhishek Bajaj, Camistri
Three childhood buddies – Abhishek Bajaj, Aditya Bajaj and Ajay Kejriwal, learnt the lesson the hard way. Abhishek shares, “The incident gave us the learning that we should specify requirements as clear and crisp as possible and should not expect other fellows to understand or assume what’s going on in our minds.”
‘Choosing your co-founder can be like choosing your spouse’ is a famous saying in the world of entrepreneurship and startup community. On the similar lines, your spouse joining your startup as a co-founder or a core-team member, is often a topic of the table. If you are an entrepreneur, and your spouse often bothers you asking for your time, the article can be a good read to you. Caution – Try re-considering your thoughts at your own risk!