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Archive for December 2008

RECESSION – Reinventing Ourselves in Times of Trouble

In Entreprenuership, Life on December 16, 2008 at 6:43 am


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By Rajiv Vij – Life and Executive Coach 

In the background of how the current economic and financial crisis is impacting individual lives and families, a leading Indian newspaper had recently asked me to write a short piece on some thoughts around reinventing ourselves in such challenging situations. The same is reproduced below.

Every time we are faced with a real personal crisis — loss of job, onset of a terminal illness, divorce or financial crisis — some of the questions that cross our mind are: Why did this happen to me? Will it ever get better? How will this impact my social position? It is only natural to start feeling down and feel anxious about the future. However, people who have weathered such storms, and whom I have had the opportunity to meet during my corporate career and my life coaching practice, usually say that the crisis was the best thing that happened to them. It made them to get off their treadmill of maddening activity and do some real soul searching towards creating a better and happier future. 

Drawing from those experiences, it may be useful to look at ways of dealing with such crises in multiple dimensions. 

First, it is critical to maintain a healthy sense of optimism about the future — not because we want to psyche ourselves into positive thinking but because things do get better from points of high pessimism. Surveys of people faced with a personal crisis demonstrate that the same people generally feel much better about themselves and life in general just a year after the initial event. It is equally important to have a strong sense of self-belief — the belief that not only will things get better, but that I will also have a meaningful role to play in it. As Graham Bell said, “When one door closes another door opens; but we often look so long and so regretfully upon the closed door that we do not see the ones which open for us.” 

If the crisis involves some form of financial impact, it may be useful to also reflect on our needs and wants. In today’s consumerist society, we constantly want more — a bigger house, a flashier car, a new cellphone. Very often, unfulfilled wants may be the biggest source of disappointment and stress in our lives, and this is accentuated during adverse times. It may be pertinent to ask ourselves whether we need all these gadgets. In most cases, our needs are usually much simpler than our unending wants

Further, crisis tests the strength of character. What differentiates the outstanding from the ordinary is not how well they do in good times, but how resilient they are through a crisis. As Albert Einstein said, “Most people say that it is the intellect which makes a great scientist. They are wrong: it is character.” Committing to living with core personal values in all aspects of our life builds character, which provides us with the inner strength to keep forging ahead, and the courage to see our failures as mere stepping stones in the quest for larger goals. 

As they say, the Chinese characters for crisis mean both danger and opportunity. Indeed, a crisis may be an opportunity for unparalleled personal growth. We can easily spend a disproportionate amount of time ruminating over our losses or being anxious about the future. The question is when things do get better, will we be well prepared to take advantage of the new opportunities? Adversity offers the luxury of time to learn and hone new skills — enroll in hobbies or educational courses we always wanted to pursue but never had the time for, perhaps reflect on our true passions and give them shape — this may mean anything from starting a new business or community initiative to discovering latent writing skills. 

Finally, such times also provide us with a unique opportunity to reflect on what’s most important to us—who am I and what is the purpose of my life? Am I pursuing a job, a career or my true calling? Do I want that investment banker job because of its lucrative prospects or because I find true purpose in that work? Engaging in our calling can inspire us to operate at a much higher level and away from the delimiting struggle around external success and recognition. As Patanjali, the great Indian sage, said, “When you are inspired by some great purpose, some extraordinary project, all of your thoughts break their bonds. Your mind transcends limitations, your consciousness expands in every direction, and you find yourself in a new, great and wonderful world. Dormant forces, faculties and talents become alive, and you discover yourself to be a greater person by far than you ever dreamed yourself to be.” 

 

TiE – Success Stories

In Uncategorized on December 13, 2008 at 11:31 am

 

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RedBus – Riding RedBus with a Mouse Click (Bangalore, India)

SafeMed – Lifesaving Answers in Seconds (San Diego, USA)

Chitika – Connecting Brands, Bloggers & Buyers (Boston, USA)

Kaboodle – In The Cutting Edge (Silicon Valley, USA)

Cucumba – Resurgence of Stressed Out Souls (London, UK)

 

Full Story @ TiE Global

 

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India’s first-of-its-kind online bus travel portal was extensively supported by TiE Bangalore. This led to the birth of a new industry with redBus enabling passengers to select seats from digital layout and choose from multiple travel operators to pay online using secure payment gateway. This eager start-up company is pioneering a revolution on the roads at the click of a mouse involving search technologies and an entrepreneurial drive that helps offline deliveries.

You can book bus tickets online or over mobile phone and even get home delivery. Booking is possible at over 30,000 plus outlets with over 250 bus travel operators covering over 3600 routes across India and this is growing! Return reservation and cancellation online are also part of the facility offered in 6 languages.

During Diwali 2006 – the festival of lights, when all flat mates went home, Phanindra Sama of Texas Instruments desperately tried to find a bus that would take him to Hyderabad with no success. This was a major driving factor for Phanindra to launch the portal redBus.in along with his BITS-Pilani friends Sudhakar Paspunuri at IBM and Charan Padmaraju in Honeywell. Over weekends, they began building a software to help people find buses suiting them. At that point, they did not think of quitting jobs and it was simply a weekend project. The gamble worked as this site received over 100,000 hits and booked at least 500 tickets daily, encouraging bus providers to register with it.

Full Story @ TiE Global

 

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SafeMed, a San Diego based healthcare technology company has a bold vision of what the future of healthcare will look like. It’s a future where patients collaborate with their doctors to improve their own health. It’s a future where doctors go beyond simple information gathering on websites or databases to access insightful, patient-specific answers in seconds. And it’s a future that some TiE members are helping SafeMed to forge.

Full Story @ TiE Global

 

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In 2003, Alden DoRosario, Chitika’s co-founder and CTO along with Venkat Kolluri, CEO, noticed that advertisers were not yet paying attention to the opportunities in the “long tail web” comprising small to medium sized sites. Whereas, web logs (now known as blogs) were clearly being viewed as valuable unbiased information sources by online consumers. It was pretty much expected that advertisers will soon start re-directing their marketing budgets to focus more on web logs. However, at that point, there were no affordable solutions or services available in the market that small to medium sites could use to initiate advertising or e-commerce services on their sites. This prompted both DoRosario and Kolluri to recognize that small to medium websites will soon turn out to be the most lucrative arenas for online advertising.

Full Story @ TiE Global

 

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It all started when Manish Chandra and his wife Asha were remodeling their home in 2004. “The whole process of internet shopping and collaborating between us and the decorator was really painful. We forgot which store we liked and it was hard to discover new products on the web.” To make their lives easier as well as the lives of millions of others, Manish started Kaboodle, a social shopping community.

 

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Stella, Vivienne and the Cucumba team are on a mission to transform a nation of stressed-out, overworked souls into pampered and polished people. The aim is to transform the industry through an innovative concept where the client simply buys treatments according to the time they need or their budget.

 

Cucumba started trading in September 2005. A lack of capital and low initial take- up of services meant near bankruptcy and closure in March 2006. Vivienne attended a TiE event in autumn 2006 and met charter member Stuart Nicol, who has become her mentor and advisor.

CEO & EGO

In Uncategorized on December 6, 2008 at 8:31 am

 

david novakExcerpts from Accidental CEO – David Novak

Is ego every CEO’s biggest  enemy? 
Ego leads to arrogance and arrogance leads to blindness. So you have to create an environment where people keep your ego under check. I believe that you don’t look up or down when you deal with people. Just look straight at them. 

 

Wisdom from Warren Buffet
 
The things that Warren said 
have definitely left a big impact and will have an even greater impact as we go forward. He said—‘Put your ego in your business performance, not your stock price’.

And he said, ‘Make sure you constantly do what’s right over the long term’ and ‘If you do the right thing, you’ll ultimately get rewarded in the marketplace’.

When I met him for the first time, I did not have much experience of dealing with Wall Street. So I asked him for advice on that. He said— ‘Tell people that you’re in a very competitive industry’. Be very honest about that fact. Tell them that you’re not going to be right everyday, but you’re going to be more right than wrong because your business is solid and you’re ultimately going to end up on a winning place.

 

He said that in a retail business, you’ve got to be right every single day. There’s a day-to-day intensity associated with retail. He said to ‘just tell people the good, the bad and the ugly’, so we’re totally transparent with our investors. We tell them what’s working and what’s not. That was very, very helpful. 

Click here for the  article @ Economic Times