Startups dish out multi- crore salaries with the tools of TALENT !

Hii readers ! here we meet again. Today we are going to talk about the human talent that has turned the startups other way round . A few startups which are hardly few  year old are playing in crores nowdays and the reason is the extra vigilant and smart minds acting behind it.

A crunch of leadership talent is pushing salaries in the startup space skyhigh, with headhunters and companies talking in terms of multi-crore packages that include a major portion in stocks.

“Salaries for top talent at startups have doubled and in some cases even trebled in the last 18 months,” said Sunit Mehra, founder and managing partner, Hunt Partners. Most of these salaries that have gone up from Rs 70 lakh to Rs 1.5 crore to Rs 2-4 crore were pushed up by the cash component alone, he said.
In one such recent appointment, InMobi in August hired an executive in a director-level position from a leading American technology multinational. Other examples include Snapdeal picking up the head of technology from a California-based computer software company, Paytm hiring a former Amazon India executive to head one of its business units and Flipkart hiring from a leading US-based technology major for a leadership position.

 

Policybazaar.com, which has been around for over half-a-dozen years, has recently started dishing out ESOPs to critical talent. Group chief marketing officer Naveen Kukreja, who is also the managing director of Paisabazaar.com, said: “This is a retention tool as the war for key talent is getting fiercer by the day. We have recently started using ESOPs as a retention tool.”
BlueStone, an online jewellery retailer, recently started offering multi-crore salaries to attract and retain talent at leadership roles. “Till about a year or so, we were not paying a multi-crore salary to anyone in the company. But now, we are paying multiple people salaries of this amount,” said CEO and founder Gaurav Singh Kushwaha. “This is in addition to the ESOPs. It’s for the key positions at leadership levels. We are ready to pay whatever it takes to acquire talent.”

-: “The importance of money flows from it being a link between the present and the future ” , J M Keynes.

“Your business,Your rules” . Really?

Hello readers ! So here we meet again.Recently i was doing a research on some traits or the lifestyle of the successful entrepreneurs. And what i observed was that being an entreprenuer is not everyone’s cup of tea.Its not for the faint hearts , but it does depend upon the amzing opportunities  to run with your ideas and see if they will actually work. It is a way to bring your passion to life as you help make people’s lives better.

Have the courage to follow your heart and intutions.They somehow know what you truly want to become.

Launching your own business can be the most exhilarating, mind-boggling, mind-blowing, happy, frustrating and profitable adventure of you life.It does not always go as you want it be. But as we know all roads that lead to success have to pass through a hard work boulevard at some point, because dreams do not work until you do.

Hence there are some heart-throbbing , hard-to-swallow facts that most entrepreneurs experience throughout their incredible journeys-:

• “i will learn from my mistakes ” becomes your mantra.
•  You are in constant jeopardy of losing it all.
• There are times when you forget when the last time was you actually paid yourself.
•  Your first try at launching your product or service will most likely fall short or even fail completely.
• You have to learn quickly to surround yourself with supportive people–not negative–and in some cases this means firing a friend or family member.
• You have to quickly acquire the skill of asking for what you want
• Those friends who remain in their 9-to-5 jobs will never really understand that you really are working.
•  If things go well, you will one day come to the realization that you can’t do it all yourself and you have to let go of some control.
•  Every day there are more decisions to be made than you possibly have time for.
• You have to quickly acquire the skill of asking for what you want.
•  You become the jack-of-all-trades in your business.

 

Most of you having an startup might agree with me. But friends this is how gems are built.Its the things we work hardest , rewards the most.

So keep learning, keep working and remember ,the only way to do great work is to love what you do.

 

Social Entrepreneurship : A Rare Breed

Many times when we walk around our city we see many problems that we as being engineers thought to solve them.

” I wish i could come up with some way to solve this problem so that the poor sufferer would be a bit relieved.”
Now delivering this above statement and working on the above statement are two different things. When you workout on the aim to solve the social problem then the tag SOCIAL ENTREPRENEUR adds to your name.

DEFINITION of ‘Social Entrepreneur’

A person who pursues an innovative idea with the potential to solve a community problem. These individuals are willing to take on the risk and effort to create positive changes in society through their initiatives.
Rather than leaving societal needs to the government or business sectors, social entrepreneurs find what is not working and solve the problem by changing the system, spreading the solution, and persuading entire societies to move in different directions.

Whenever society is stuck or has an opportunity to seize a
new opportunity, it needs an entrepreneur to see the
opportunity and then to turn that vision into a realistic
idea and then a reality and then, indeed, the new pattern
all across society. We need such entrepreneurial
leadership at least as much in education and human
rights as we do in communications and hotels. This is the
work of social entrepreneurs.

Apart from just thinking an effective solution to problems your near dear our suffering from we could make out profit from it. All we need to do is to look for

*the problem
*a sustainable solution
*business idea
*execution

One of the example of social entrepreneur in India is
SKS India
Social Entrepreneur:
Vikram Akula
Type of Organization:
For-profit
Website:
www.sksindia.com
Mission :
Empowering the poor to become self-reliant through affordable loans.

Have the fun of being the employer as well as employee be an entrepreneur.

Strating a new business

 Start-up success or failure is all about knowing the both the how and the why of taking action, and always being clear about which steps to take next.

There are a few essential tips about starting a successfull business.

• Study the behaviour of the costumer: Before launching your products you really need to know , what exactly the costumer wants to buy,and not what you want to sell.
• Its all about Profit: All the cash flow in the world is worthless if it’s not positive cash flow, which means you have to bring in more cash than you pay out.
• Continuity in cash flow: Cash flow is the lifeblood of business, and is absolutely essential to feed bottom-line profits. You need to forecast the future needs of the business , and prepare accordingly to ensure the continuity in cash flow.
• Keep a margin in cash flow: while planning always overestimate the expenses and underestimate the revenues. To be on a safer side , first  think of the worst case ,and the work towards it to make it right.
• Learning = Earning : To be the master of your work you need to be a constant learner. As you learn more , you’ll earn more. Try to gain as much knowledge as possible of your domain, form any possible source
• Proper Planning : Without a perfect plan to achieve the goal , it cannot be . Test and measure everything. You can’t change what you don’t measure, and you can’t tell if a program or strategy is working if you are not faithfully testing, measuring and tracking your results.
• Get a coach : A mentor can significantly reduce the time taken by you to get things into place . Try to get a person who has knowledge about your domain and can help you out in figuring out every pros n cons of your job.

 

 

I hope this initial checklist will be valuable in helping you clarify your thinking and helping you prioritize some activities in you’re planning and start up mode.

Quote : ” Start where you are . Use what you have . Do what you can.

 

 

 

Entrepreneur: Traits to be successful entrepreneur

Entrepreneur

An individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.

The ability of entrepreneurs to innovate relates to innate traits, including extroversion and a proclivity for risk taking .The capabilities of innovating, introducing new technologies, increasing efficiency and productivity, or generating new products or services, are characteristic qualities of entrepreneurs. Also, many scholars maintain that entrepreneurship is a matter of genes, and that it is not everyone who can be an entrepreneur.

It has, however, been argued that entrepreneurs are not that distinctive; and that it is essentially poor conceptualisations of “non-entrepreneurs” that maintain laudatory portraits of “entrepreneurs.” There are a few common traits that are observed in most successful entrepreneurs.

10 Traits of successful entrepreneur

• High level of confidence
• Not afraid to take risks
• Craves learning
• Full of determination
• Understands that failure is a part of game
• Passionate about his/her business
• Highly adaptable
• Good understanding of money management
• Ability to sell and promote
• Expert at networking

So if you’ve got these qualities , then success is waiting for you. If not yet , its never too late.

NIET Ecell is woking on building these traits in  budding entrepreneurs  and is expected to produce one of the finest entrepreneurs of the decade  NIET Incubator has been set to support ideas of new startups, and providing them a platform to create new and innovative thinking and an opportunity to build there dreams.

Quote of the day : ” If you don’t build your dreams, someone will hire you to build there’s.

//: Check out more on starting a new business in coming posts.