There is a good article in Times Of India(26th April 2007) ,which focuses on a JV between India and China(ie what if they work collaboratively).IMHO,the best part of this article is:
If China has become the manufacturing powerhouse of the world, Gartner analysts say India appears to be well on the way to becoming an IT services powerhouse. IT services account for approximately half of India’s services exports, and they are growing at more than 30 per cent per year.
Read the complete article here
Apparently this article fetched me comments by none other than Guy Kawasaki himself(Comment below)
Phaneesh Murthy left Infosys in 2002 to start Quintant(which was later acquired by IGate).Murthy always knew in order to succeed,he should differentiate his company from the other players in the services industry.During his stint at Infosys,he had noticed the following problems in the business:
- Service providers get paid regardless of whether they succeeded with a project
- Service provider employees are usually very young and hence customers have to pay for their training
- Service providers had no stake in a project’s completion and hence,they benefited even if the project deadline has missed
- Service providers talked about YOY increase in cost and salaries,while customers talked about YOY reductions of cost.
Rather than asking his international clientele to pay for effort or input,customers would pay for value or output.
It is not wise to compare in Dollars per hour.But when the output is compared,definitely IGate is more competitive due to its strength of experienced employees.His point was that many IT services companies hire young employees so companies can mark up their hourly rates to make profit,on the other hand,IGate hired employees with more experience,who are more productive.
There were six companies who were competing for the bid but in the end,IGate won the bid and the reason was quite evident-“None of the companies who were competing for the bid were able to quote on price per transaction”
This was just a small example of Innovation born out of existing problems.There might be many such examples of innovation born when long standing flaws have been tolerated but only few like Phaneesh Murthy try to question them and than correct them(to get an upper hand over the competitors)
Kryptonite Locks is a unique story in that the company was aware that blogs existed,but it chose not to respond to bloggers for a variety of reasons.Sounds interesting ah…than lets unlock the (lock) mystery
In 2004, Kryptonite, maker of top-selling locks,suffered a heavy loss at the hands of a blog.A blogger discovered that it was possible to pick a Kryptonite lock with a standard Bic Pen
After the blogger blogged it,the story was picked up by Engadget,a popular gadget and geek blog.Check out this post on Engadget , which describes the issue and yes,do not forget to see viewer’s comments as well.As you might have felt,Kryptonite was not aware much about this talk in the blogosphere and when it became aware about the situation, it was very very late
The unanswered question:What would have been Kryptonite’s loss,if it would have responded to the original blogger’s post(before it was picked up by Engadget) … Makes you think, isn’t it
This was a very old instance and it occurred in 2004.Now let us have a look at the current trend.
I just happened to check Entrepreneur Rajat Gupta’s blog and this post grabbed my attention.As you might have seen from the post, Rajat got his flight money refunded by just putting the comment(given below) on the Clear Trip Blog
My Case Ref: 1-50690.
Could you please let me know the status on it.
I did speak here about my first idea(which I wanted to convert into a venture) but this is the second idea and I started working on this idea, after discussing with few other people….Yes,timing is very important.Now let me summarize my first experience.
Day 1 (22nd April,2007):
My second venture lies in the Web 2.0 space and the work started on 22nd April,2007(4:30 PM).Now,the first part was registering a domain.Now the fun started .A serious brainstorming session on what should be the domain name and what should be it’s plus points?The domain name should be appealing,simple,creative,easy to remember as well and on & on… Apart from internal discussions,we had suggestions from few known people in the IT as well as the Non-IT industry.The day ended at 9:30 PM and we were left with one name but were not so convinced with its appeal.
Day 2(23rd April, 2007):
This day started a bit early at around 11:00 AM and we wasted some time in checking mails,blogging and other activities(Guess,we should avoid doing this in future).Finally at 12:30 PM we were back to work and decided to go with some other name since,the current domain name had lot of hidden problems This time,again we came out with 5-6 domain names and when we shortlisted two of them and the sad part was that both were already booked.Phew…after so many trials , we had to take a lunch-break.But as many say,when you change the environment,minds work faster and the same happened…We came out with 2 more names and after lunch,same old discussion started….Finally at around 6:00 PM , we managed to successfully book a domain . Now we understood that small things matter and are more time consuming , when you start-off.After the initial success,we would now focus on the following aspects:
1. Logo design,caption development
2. Layout and Color combination in the web site
3. Visiting cards and T Shirt printing(yup,we would follow reverse trend of marketing…just kidding,this would be used only when our website becomes public)
I am sure the initial phase(and the entire journey) would be very tiring as well as exciting, without which “The entrepreneur’s journey is not memorable”…
One word of advice:You would be laughed at or ridiculed or even questioned for your idea,but just have faith on yourself(and your idea) and say to yourself “You are here to prove yourself right rather than to prove others wrong”….
I would sign off with this winning mantra
It is quite accidental that there is a similar group on LinkedIn started by Dharmesh Shah of OnStartUps , which has a similar kind of purpose.According to Dharmesh,below are the 5 reasons why you should join the “OnStartups LinkedIn group“
5 Great Reasons To Join The OnStartups LinkedIn Group
1. Find other people in your area interested in startups (even if you live in the middle of nowhere).2. See if you can locate a co-founder for your maniacally brilliant startup idea.3. Recruit unsuspecting victims to join your startup team4. Locate a promising startup to join and try your hand at this whole entrepreneurship thing.5. Find funding for your current startup so you don’t have to beg and plead with your friends and family.
Last but not the least,you can read the complete article here