Memories for me by Payioo

#Payioo came into beta testing phase when university semester exams were going on but the dedication for the launch of this app was there.

I still remember that when Mr. Paritosh Vatsal Tripathi (#Paritosh sir) texted me up and said that the app would be soon out for beta  testing and we as the members of E-Cell NIET are the members of testing team for #Payioo and the very next day when I was leaving for my exam and he said come after that transactions are happening. After I was back I went to Incubator there I found Mr. Hitesh Goel (#Hitesh sir) who showed me how the transactions are happening.

After two days of all this. I got a call from Paritosh sir asking me to come to canteen and test the app and the app showing awesome behavior also on “Aircel 2g” is truly commendable by the developer team. The transactions happening in only 36 seconds including the receiving of OTP and the transaction authentication.

On a very serious note I would like to say that the time I spent there was simply awesome. Seeing sir talk to people promoting #Payioo and asking students to go Digital whereas I was testing the layout of the app, finding the glitch,processing errors etc. standing there with sir for hours. The night when Aman, “Abhishek and company”were all there and we talked about the memories of the college hostel are truly cherishable.

Getting a mail from Paritosh sir at 4am about all the errors are fixed and still I could find a small error was the time, and testing the app on NIL balance and still I was  able to find some bugs there in it. It just feels awesome to be there working with the team, knowing your capabilities, your opinions being considered and getting complemented for your work.

A heartfelt thanks to the team for doing such a great work.

 

 

Ecell NIET Gr. NOIDA organizes IDEATION CAMP: Fueling the revolutions of #STARTUP INDIA

From “GOOD FOR NOTHING LAZY” to “YOU WORKED REALLY HARD GUYS” journey!!!

9 Things That Take a Pitch From Good to Great

When I think about what set those excellent pitches apart from the rest, it turns out that they all shared some of the same qualities. And if you employ these nine tips for taking a good pitch and making it great, you’re going to give the kind of pitch that stands out to investors, too.

1. Tell a real customer story

When possible, open your pitch by telling a real customer story that addresses the problem your product or service solves in the marketplace. Avoid using buzzwords and tech talk when you tell your story. Instead, use real names and real customer challenges. Keep it simple and realistic. In the end, what people will remember after they walk away from you are the stories you tell, so it’s important to have a few compelling customer stories ready to share.

2. Pare it down to the essentials

Many entrepreneurs deliver their pitch as if they’re auctioning off their grandmother’s antiques. It must be because they think they need to address every aspect of their business plan in one fell swoop, but doing so makes them seem anxious, tense, and nervous. I always wish they’d relax and realize that when you’re giving a pitch, less is more. Prioritize the most important things you want to share and stick to those pieces—and take a nice big breath before you speak. Believe me, it will help you deliver a more compelling and thoughtful pitch.

3. Outline your business model

Your business model tells an investor how your idea will (or does) convert into being economically viable. The best way to show you how to communicate your business model is to show you an example of a good one. Let’s take ZipCar, for instance. Their business model can best be described as:

• A membership-based car sharing company (they brand their members as “zipsters”)
• Reservations are easily and quickly made online
• Customers pay by the hour or by the day
• Serves US, UK, and Canadian markets
• Also targeting college campuses

In just a few short bullets, you can see how they make money and from whom. Your business model should answer the questions: What do you sell? To whom? How much do they pay? and How do they pay you?

4. Make sure your presentation is crystal clear to anyone and everyone 

If you can get someone who doesn’t understand your business model to grasp what you’re communicating, then you’re prepared to give a pretty good pitch. Some of the worst pitches is filled with acronyms, tech speak, and gobbledygook. Keep your pitch short, sweet, and to the point. Practice your pitch on someone outside of your company, and ask them to repeat what they think your business model is back to you. Do this many times, and it’s always an eye-opening exercise to hear what people repeat back.

5. Talk about yourself

It’s important to know that investors invest in people first, and ideas second. As a matter of fact,Several investors tell to keep them posted on next startup because they’d like to invest in me and my next venture. So don’t be afraid to toot the horn on your and your team’s accomplishments—especially if those accomplishments relate to what it takes to start and scale a venture. Tell (and whenever possible, show) the investors why you are the right people to lead this venture.

6. Tell us, what have you done lately?

By this I mean that you should share the successes and traction your team has had since the inception of your company. It always surprises me how frequently this is left out of pitches. Investors want to hear about your first customers, other investments put into the company (including your own sweat equity), key media placement, signed letters of intent (LOI) to purchase/partner, product and customer milestones, key hires, etc. As the CEO of your own company, you will be expected to be the lead sales person, so show the investors that you know how to sell them on your own company.

7. Address competition head-on

First of all, never say “I don’t have any competition.” This is a rookie mistake, but many entrepreneurs say this. Everyone has competition, even if it’s indirect competition. Think about when Henry Ford built the Model T. Were there other cars on the market at that time? No, but he had to find a way to steal people away from other modes of transportation (horses, trains, and walking, for example). One of the best ways to illustrate that you understand your competitive landscape and your differentiators is to present your competition in a matrix format like this one:

8. Give the numbers that are behind your numbers

Don’t say you’re going to be a $50 million business in three years, because most investors won’t even believe it—unless you’ve done this before in another company. What’s more compelling than big talk is to show exactly how you will reach those millions—what information about your company do you have that’s made you forecast those kinds of sales? Share what your assumptions are about your business model.

For example, here’s an appropriately detailed financial forecast for a SaaS (software as a service) business:

• We leverage the site traffic and customer base of partners A, B, and C
• 100,000 unique visits/month to our network of online sites
• 1,000 new leads captured per month
• 0.22% average conversion rate
• 5% monthly churn rate
• 16 months is the average lifetime value (LTV) of a customer
• $160 is average revenue per user (ARPU)
• $12.50 is our customer acquisition cost (CAC)

You want to see investors take out their phones and begin calculating numbers. This is a good sign—it means they want to see how you think, and see if it matches (a) what you’ve indicated as your total revenue numbers, and (b) what they know about your industry.

9. Show your darn product!

I’ve seen so many pitches where the entrepreneur doesn’t even show their actual product. For some businesses, showing their product is not easy to do, but for most people pitching for funding to investors, it is. Even if your product is not yet built, show mock-ups. It’s amazing what a visual representation of your product and your business can do for the overall effectiveness of your pitch.

AT LAST BE CONFIDENT THAT’S ABOVE ALL TIPS AND TRICKS!!!

Road To Be Taken(Student to Entrepreneur)

Student time is the best time to become Entrepreneur,
a college student has the enthusiasm that can not be matched with any other phase of the life.

Everyone should agree that
students life is always full of problems( agreed??)
students time is the best time when you can take risks( agreed??)
students life is full of aspirations(agreed??)
students have the capability to change the society(agreed??)
As per definition of entrepreneurship:
“Its just an aspiration to identify problems, take some risks, and change the society with your solution”.
but the job is not easy isn’t it??
The problem is that most good business ideas
are hidden. If you seek business ideas directly
they will often remain hidden. The trick is that
you need to know what to look for.
So as you begin to
think about compelling new business
ideas, none are more important to consider than
those related to your areas of passion.
If you’re going to invest the long hours it
takes to plan and successfully run a new
business it is absolutely critical that you are
passionate and excited about the business
concept you ultimately embrace. Your passion
naturally translates into every aspect of your business.
Surely this job is not very difficult, in fact, it is a fun, Albert Einstein also said about creativity i.e Your area of passion

1) To identify some of your top areas of passion, write your answers to the following questions in
the AREAS OF PASSION section below:
• How do you like to spend your weekends?
• If your rich grandfather unknowingly wrote you a check for rs 50,000,000 how would you then spend
your time? (after any initial travel & shopping sprees are done)
• What kind of magazines do you like to read & what type of websites do you like to visit?

2) As you think about each area of passion (and the products and services related to each area of
passion), write your answer to the following question in the PROBLEM POINTS notepad with two sections as:
1. Area of passion  2. Problem

 

3) Circle your top FIVE most painful pain points & label them numbers 1 to 5.

4) Now try to figure out the way an entrepreneur can approach to the FIVE problems, and note them.
5) Now its time for rating your approach, yes, rate your approach as poor, average, excellent.
Yes, EVALUATE YOUR SOLUTIONS:
Each of these points & solutions are actually customer needs
and business ideas. For each of these business ideas ask yourself the following key questions:
a. Does my idea resolve an important customer problem?
b. Does my idea sound exciting to me?
c. Does my idea offer a key advantage for customers over existing products or services
available? (You should search the internet to see what similar ideas may already exist.)
d. Now rate your top solution for each pain point above. The best (Wow!) ideas must
resolve a major customer problem, sound exciting to you, and offer a key advantage
over existing products or services available. Otherwise rate it lower.
e. Discuss your idea with a trusted friend. Does your friend agree with your rating? Ask
your friend “how can I improve upon this idea?” then update your idea accordingly.
6) You now have several new business ideas you can revisit, update, and strengthen. Circle the top new business ideas in your list.

This is the way we can start a new ROAD TO BE TAKEN by others.

Creativity

Every invention, both practical and  capricious, was the product of creativity.

The car you drive, the clothes you wear, the music you hear,the books you’ve read, medicines that have cured your ills—all these came from a creative mind.

someone who could take existing information and knowledge and tweak it slightly to make something totally new and original- is a creative.

Creativity is often like everybody’s favorite eccentric aunt: we all say we love her just the way she is, but nobody wants to actually be responsible for taking care of and nurturing it.

I am here to stand proudly for creativity, in all its messy, out-of-the-lines glory.

Why? Because ultimately, creativity not only improves those pesky test scores, but it also contributes to what should be our ultimate goal as educators: inspiring students to become curious, engaged, and interested in the world around them and within them.

 

Republic day special

Besides being an entrepreneur sometimes its good to find time for yourself and relax down to earth, the motherland and the nation. Due to diversity in our thoughts and ideas we have developed a characteristic of doing the same task in at least two ways. These characteristics make us Indian. Here’s a short poem which might remind us of our lovely motherland, the only place on earth where we truly find peace.

 I am so proud to be Indian –
To submerge myself in a vast ocean of history,
In deep, rich, mesmerizing waters
That twinkle like the eyes of village children
And smell of marigolds and sandalwood
And of the spice that coats my mother’s fingers.
I am so proud to be Indian –
To press my palms to the warm, soft earth:
Land as dark and lovely as the woman who sings
Like a nightingale into vermilion sunsets
Until her voice has melted into the chorus of a billion,
A billion fireflies glowing like embers that cannot be tamed.
I am so proud to be Indian –
To feel the caress of gentle, light winds
That dance with their bells to the beat of my heart;
To inhale the music and magic and majesty
That swirl before my eyes like the white skirts of a dervish,
To exhale in sweet relief as I memorize the beauty
Of this, of me, of you, of us.

Happy republic day dear students & entrepreneurs!!!

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.

Secrets revealed: How an entrepreneur thinks

There’s something special about successful entrepreneurs–they have a way of thinking and acting that is different than most people. The good news is that anyone can learn to think like an entrepreneur, and to put these powerful secrets to work in their own lives, no matter what they do.

 

 

Choose your mind-set

You’re the one who decides the attitudes and assumptions you will carry with you through your life, and you’re the one who can change them. If your mind-set–and the work you’re doing–isn’t taking you where you want to go, then change it. Refuse to just settle for life and circumstances as they are, when you know you want better. As Steve Jobs once said, “The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle.”

Be determined

Being determined isn’t just having the strength, fortitude, and persistence to move forward against the odds, but it’s also being strategically prepared for the battle. When you are determined, you are positioned to be firm in your decisions and you are ready to do the hard work required to win in whatever you do. As venture capitalist Paul Graham pointed out, “The most important quality in an entrepreneur [is] not intelligence but determination.”

Build a solid relationship bridge

Business is all about relationships, and building strong relationships is a pathway to success in both business and life. Says Taulbert, “The ability to build strong relationships is crucial for survival and growth. Successful entrepreneurs are adept at building relationships.” And, they are skilled at keeping and growing them over the long run.

Slow down to lead

Business is moving faster than ever, but great leadership means slowing down to take time to focus on doing the things that are most important to your success. Specifically, it means recognizing and valuing the people who you will encounter in your business and personal life, and bringing them along with you on your journey. You have much to learn from others, just as they can learn a lot from you. As Richard Branson put it, “Other people have ideas also.”

Know your business “health” metrics

Despite the popular image the entrepreneur who achieves great things simply through the force of their charisma, or who win flying by the seat of their pants, this is picture is not accurate at all. The most successful businesspeople know exactly what makes their organizations tick, and they keep a very close eye on the metrics–making fast corrections when necessary.

Be prepared to swim upstream

No one ever said that finding success in business and life was going to be easy, and frankly, it’s not. There may be times when you can go with the flow, but often you’ll find that you’ve got to swim upstream–against the current–to make great things happen. Not only that, but you may have to change direction many times throughout your life–changing strategies, jobs, and even lives. Never quit, keep fighting. As Nelson Mandela said, “It always seems impossible until it’s done.”

Resolve to succeed

Know that you can succeed (you can!), and then put all of your energy into it. Once we resolve ourselves–truly resolve ourselves–to achieving something, then nothing can stop us. Understand this secret, and you will find the success

Takeaways from Modi’s speech at Start-up India launch

From providing tax exemption to start-ups
to setting up a corpus fins to enable the
new firm start business with ease, Prime
Minister Narendra Modi unviled an array
of incentives while kick-starting his pet
project: Start-Up India. Here are the top
10 take-aways from the PM’s speech that
cheered the start-ups in the arena.

A proverb

One proverb that every startup should keep in mind is

“Hope for the best but, be prepared for the worst”.

Yes,  You should have a positive attitude, but make sure you are ready for any kind of disaster.

This belief will give the moral boost to carry on with efforts. Only hard and incessant efforts will lead to success.

Sometimes, despite all our efforts it happens that we don’t succeed. If such a thing happens, we should be prepared to accept it. We should remember that defeat is yet another step to success. Our next endeavor may succeed.

The good thing about positive thinking or more accurately, having a positive attitude, is that it’s less stressful to you, it is a much better way to interact with people, and your actions become more focused on what needs to be accomplished.

And ,we all know that how important this attitude is in this world of creativity and inventions. Don’t we??