Analysis paralysis
Nimesh from IIMA Class of 2006 writes with Qs that are on many a wannabe entrepreneur’s mind… My replies after each Q, in CAPS:
Dear Rashmi:
I have been reading your book – Stay Hungry Stay Foolish. I must admit it is quite engrossing and motivating. I did not take any job out of campus in 2006 and instead choose to join the startup – ValueFirst Messaging. Two years I spent in startup were quite fulfilling. After that I have joined XXX (a mobile gaming company) and looking after their India business. The work style here is like a large corporate and my mind always keeps on wandering on one killer idea !
Some queries from you :-
1. How do arrive at one idea which you need to start onto ? I keep on discussing tons of idea with my friends but till date we have not been able to settle to any one idea as the conviction is difficult to comeby. I have heard enterpreneurs sermon that don’t think too much and take a jump. I don’t buy that, we need to do a good analysis before venturing into anything ? But the big question is where to put the stop ? What is the litmus test of any idea you need to venture into ?
ANALYSIS CREATES PARALYSIS 
SEE, THE GENERAL PATH IS: START WITH AN IDEA, IT FAILS, YOU MODIFY OR CHANGE IT COMPLETELY, IT FAILS, REPEAT UNTIL YOU GET IT RIGHT
2.Three interesting trend I noted from the stories in the book :-
a. Lot of people mentioned in the book are between 1988 – 1993 pass out. Second is around 1977 – 1982. This means that people who started in wrong times (or not in these good times) there failure rates were higher. Little more insight into that would help ?
A BOOK CALLED OUTLIERS BY MALCOLM GLADWELL WILL HELP YOU UNDERSTAND THAT!
b. All most all mentioned on the book are men. This is quite interesting ? Not even one women candidate making it big starting her own ?
YES IT IS STILL A MAN MAN MAN MAN WORLD. HONESTLY ONLY IN 1991-93 FOR THE FIRST TIME THERE WERE 30 GIRLS IN AN IIMA BATCH (MINE). WITH THE SCANTY NOS BEFORE THAT IT WAS HARD TO FIND WOMEN TO FEATURE!
c. Most of the people actually worked for atleast 5-8 years before venturing on their own ? Is there a strong linkage between people having prior work experience and enterprises which scalled up above a level ?
NO. MANY START AFTER 0-2 YEARS EXPERIENCE ALSO. SOME WORKED IN SMEs OR SICK COMPANIES, OR AS EXECUTIVE ASSISTANT TO THE MD. THAT IS ALSO A GOOD ROUTE
Infact, a story on IIM Ahmedabad enterpreneurs who tried and could not make it big will have several pointers for wanna be enterpreneurs like me to learn from their mistakes.
LISTEN MANY MANY MANY PEOPLE DO NOT MAKE IT BIG. THE THING IS THEY STILL HAVE NO REGRETS. THIS IS WHAT THEY WANTED TO DO. THAT’S ALL THAT MATTERS
