MBA and Entrepreneurship

While I tried to do something similar (www.ibspals.com) to Facebook (probably was not aware of Facebook then), I failed miserably.  Probably my next post will be the lessons learned from ibspals.com and my shortcomings.
 I will say the best thing about me is that I don't boast of I being better (or worse) than others.  But I have a dream.  And I think having a dream keep me ticking.  I am an simple MBA (Mediocre But Arrogant).  On a serious note much can be written about MBA and entrepreneurship.

In my view they both are in opposite directions.  Currently the so-called high ranking B-schools charge hefty fees leaving no scope for the student to pursue his own passion or business.  Students without MBA feel they are left out and currently out of wagon.  Nobody focuses on MBA and business.  The TIME ad shows why MBA is needed for getting jobs and promotion in that.  http://www.youtube.com/watch?v=V8lyUiiLl5E.
They work for years and years just to pay off their loans and nobody is willing to risk as in business you are never sure of your revenues.  So they forget their passions and work like donkeys in a yoke.  More responsibilities (marriage, child, parents yada yada yada...) come and pay increases over years.  At that time leaving a high paying job and starting a business looks like more risky affair.
Though Indians are known to be risk takers, it seems after MBA they become risk avoiders.  Because they have already taken a large number of risk nobody (leaving apart some) wants to take more risk.  So an MBA remains Mediocre but Arrogant.  However things have changed for lot number of people like Chetan Bhagat, Harsha Bhogle, Anurag Batra and others.  But remember they were from very good B-schools and they were not required to pay hefty fees.  Although we have among the highest number of Engineers and Managers passing each year, the number of startups we see each year is very less.  But I am hopeful of India being shining again, as more and more people are quitting their jobs and have regained their passion.  May be one day I will also have the courage to do something new.  Till then do the job and keep paying the EMI.  

P.S. I suppose these good B-schools have also increase their fees recently.

Entrepreneurship Lessons from Band Baaja Baarat (BBB)

 Recently I saw this movie called Band Baja Baarat and I was glad that finally movies based on entrepreneurs is becoming a reality in Bollywood.  For those who haven't watched the movie, the movie is based on two characters Shruti Kakkar ( Anushka Sharma) and Bittoo Sharma (Ranveer Singh) who starts their business of wedding planning.
As I am a wannabe entrepreneur,  I thought of deriving some lessons of entrepreneurship from the movie.  So here I go,  If you feel I left anything or are a critique, leave your comments.
1) Look for a partner :- While going solopreneur is a good thing, but having a partner is much better.  Look for a partner who is opposite to you in capabilities.  If you are good at designing, hire somebody good at management and vice versa.  As seen in the movie, when Shruti falters during the planning pitch, Bittoo enters at numerous times to support and take the matter forward.
2) Know your customer: KYC norms dont apply only for banks and financial institution but also for the new age startups.  Gone are the days of the better built mousetraps and the world will beat a path to your door.  As seen in the movie, Bittoo did a background study of the to-be clients and it helped them get their first big wedding planning.
3) Start early and start small: Start early and start small should be the motto.  People often dream of becoming big in short time but are scared of starting small.  Rather than launching all India at the same time, start from a state or a city and then grow.  And don't forget to celebrate the launch to new city.  My point is try to get proof of concept (POC) before investing large chunk of money in anything new. In the movie, they started small as they knew they would be wasting their time following the high society people.  They went to another market when they were confident of their performance.
4) Collaborate:   Rather than competing, startups should collaborate with each other.  That way the entrepreneurs can know each other and resists from harming each other.  In the movie, they collaborated with the flowering and catering guys and provided the best service and were known for that.
5) Keep the promise:  Its the promise you make to others and yourself.    Keep the promise you made to others.  Otherwise you lose the credibility.  In the movie, Shruti made a promise that they would never use any thing illegaly, so they hired generator instead of taking connection from the electric pole.  Another one is surprise your customer.  They provided free DJ when there was no mention of it.

In the end the greatest lesson from the movie was UNITED we stand, DIVIDED we fall.  When Shruti and Bittoo were together they did well but when they were separated, they made losses.
My best of luck to them and all future entrepreneurs.  Have fun.