Archive for » August, 2017 «

My Letter to Business Today about START UPS

COOLEST START UPS BT ISSUE DATED 27TH AUG 2017


Dear Sir,


This refers to your special issue on startups ( BT 27TH August 2017-India’s Coolest Start-Ups). The eminent jury-chosen 12 winning enterprises all made very interesting reading, reflecting the spirit, and determination of the entrepreneurs who ventured into the hitherto un-trodden areas of innovative ideas, out-of-the-box thinking and life-changing activities through new start-ups to carve their very own niche in the vast arena of the business world of today. Kudos to BT, the Jury and the Winners!


Your esteemed readers have been enjoying reading about such start-ups since 2007 but one thing that comes to our top-of-the-mind issues is that media reports have been frequently talking about failures of such start-ups. So it is felt that it is now high time BT came out with a special issue on START-UPS THAT DID NOT SUCCEED analyzing various reasons and problems due to which they fizzled out in a short time, so that the future entrepreneurs learn valuable lessons from them and not repeat the mistakes they made.


As per information gathered by me from various sources and from my readings from several books and magazines, the major reasons for start-ups generally not succeeding, could be many—Poor Sales & Marketing,   Low level of venture investing, Family and Peer Pressures, Lack of sufficient Startup incubators, Lack of trust ( Angels fearing the founders will run away with their money anytime), Weak University system where entrepreneurship and start-ups are hardly included in the syllabus, Wrong hiring of personnel, Funding Problems, Patent Regulations, Poor adoption of technology, More VCs and hedge funds but less Investors, startups being pushed toward short-term solutions and unreasonable scale very early, lack of mentoring, Imbalance of staff ability and attitude,  lack of access to early stage capital, not hiring the right talent , time wasted in ensuring compliance with laws,  Low cyber security because of budget constraints, not enough people to guide startups how to go about fighting the system etc etc.


Let us hope that gradually the new entrepreneurs will learn from others’ mistakes and become successful and carve an enviable place in the country’s eco-system and become an example for other nations to follow.


J S BROCANew Delhi. 17th Aug 2017


 

 

MY LETTER IN THE LATEST ISSUE OF BUSINESS TODAY

MY LETTER IN THE LATEST ISSUE OF BUSINESS TODAY DATED 27TH AUGUST 2017 WITH THE COVER STORY ON INDIA’S COOLEST START UPS


Here is a highly censored version of my letter to the editor on the cover story on 12 defaulters in issue dated Aug 13th 2017. 


Bank Defaulters: No Concrete Results to Show


This refers to your cover story on top defaulters of Banks (Zeroing in on the Dozen, Aug 13). The sad part of our banking system is that things move very slowly and by the time defaulters are brought to book, their assets have dwindled down. It is all talk with no concrete results to show. Take the example of the Kingfisher Airlines. Despite a total debt of more than Rs 9,000 crore to pay to banks, Vijay Mallya has just become the self-proclaimed “poster boy” of defaulters. In a series of tweets, Mallya had offered to negotiate with banks for one-time settlement of dues. He is stated to have said that “public sector banks have policies for one-time settlements. Hundreds of borrowers have settled, also. But our offer was rejected by the banks without consideration”. Though Mallya appears to be offering an olive branch to the banks, the initial reaction from bankers is decidedly guarded. So, stringent action needs to be taken.


J.S. Broca, New Delhi  9TH AUGUST 2017