Monday, August 29, 2016

5 Reasons why Cashbacks should not be ignored

Online Shopper? There is a lot of prejudice and myth around cashbacks offered by websites like CouponDunia. A lot of users miss out on a lot of savings because they take Cashbacks very lightly.

Here are the top 5 reasons why Cashback makes a lot of sense and should never be ignored.

5 Reasons Why You Shouldn't Ignore Cashbacks 

#1: Cashback is too less to be cared about (MYTH)

Yes, it may feel like that early on. Typically when you make recharges you get 1%-2% cashback and it translates to a few Rupees. However, if you check categories like Fashion, Accessories, Electronics - you can get up to 15% extra cashback on top of discounts.

So imagine a T-shirt worth Rs 800 available at Rs 599 after Discount can be yours at Rs 510. That's Rs 90 saved. Similarly you can save upwards of Rs 200 on Shoes and more than Rs 1000 if you buy a Laptop, iPad or Mobile phone.

Also, cashback on food ordered online is significant. And you can also save on Booking Bus/Flight tickets and Hotel Bookings.  

Finally, even with Recharges, if you check how much you spend on the following you'd realise the amount is significant. Let's take a very Practical example:

Recharges (100/week) = Rs. 400/mo
Internet Bill (250/month) = Rs. 250/mo
Electricity Bill Payments = Rs. 500/mo
DTH recharge = Rs. 300/mo

Total = Rs 1450

If you happen to do it for your Family members also the total might come to be around Rs 2000.
With only 2% you can save about Rs 500 in an year. That translates to 2 months of Internet for FREE.


#2: Too many conditions/Too long cycle (MYTH)

It takes a lot of time to get cashbacks confirmed to your account. This seems like an issue because many do not understand the process and focus only on Short Term benefits.

Cashbacks are a part of affiliate commission that Coupon and Cashback Websites earn from online stores. Stores have to take care of cancellation period, plus then they consolidate all reports for an entire month after taking care of exchange, partial/full cancellations etc. Stores take more than 6 to 8 weeks to provide any detail about the transaction.

That said, as a user you should not care about these. You will not stop shopping tomorrow. You should just continue doing the things that you do any way. Using a Cashback website will slowly help you accumulate a very significant amount.


#3: Too much Hassle (MYTH)

Typically, it takes only 30 seconds to login and click out from a cashback website/app and reach your favourite store. It may take a few minutes and a few clicks if you also want to find a great offer.

So where is the hassle. In my honest opinion penny saved for a few extra clicks is totally worth it.


4. Referral Schemes & Special Bonuses


All Coupon and Cashback websites keep coming up with a lot of Offers very regularly to make sure you keep shopping. It's important to watch out for them and maximise your engagement with them. Particularly, there are high value referral schemes that can earn you thousands of rupees when your friends join using your referral code and then Shop online using the cashback website. They get the same offers and you earn extra when they shop.


5. Combined Offers = More Savings per Transaction!

The best part of using cashback websites is that you can combine the cashback with Discount offer from the stores and Cashback offers from Banks and Digital wallets.

For Example: You if you order two Medium size Cheese-burst pizzas from Dominos- Often you can get A BOGO offer(50% Off) + Flat Rs 25 Off from a Cashback website + another 5% to 10% off if you pay by a specific Bank Card or Digital wallet. So you get Pizza worth Rs 975 in around Rs 415. That's a saving of Rs 500+. Now, if that makes you hungry. Be sure to use Cashback Websites and Apps before ordering. 

So it's not an exaggeration when they say that an average user can earn over Rs 20,000 in cashbacks an year. 

Disclaimer: I am a Sr. Product Manager with CouponDunia.in (India's largest, most trusted Coupons and Cashback website)

   

Wednesday, August 10, 2016

How to leverage Startup Ecosystem?

As part of team Headstart, I took a workshop for students, working professionals, startup enthusiasts at IIM-Bangalore about Startup Ecosystem. It briefly discussed What is a startup and Why one should startup at all. But main focus was on making people aware about the startup ecosystem. While I discussed about all stakeholders of the ecosystem I guess the most important part was how one can actually leverage the Startup Ecosystem.

Startup Ecosystem: Headstart Workshop @ +IIM
When I was preparing for the workshop, I figured that the answer is more simple than even I could have expected. Simple but not obvious. It's often hard to reach the simple answers, because it needs you to both know and realise (experience first hand) a few basic things. Let me take you through the ride on how I reached the simple answer:

Let's begin by defining the context on What is 'ecosystem' after all?
I am referring to the biological ecosystem that is around us. The air, water, earth and skies. A quick google search defines it as "An interconnected system where living and non-living components interact with each other."

Now that we know what the ecosystem is, it's important take a moment to realise that we already are 'by default' a part of this ecosystem. We breathe in air, take in food and water, expel things out in various forms and keep interacting with the ecosystem almost involuntarily, and in a loop. We do not have to connect with it or reach out for it. We do not need to plan to use it. If you have realised, we've been using it already. But using it is one thing and leveraging is another. Leveraging needs some effort. Will come back to this thought.

First, where do you think we started using it? It wasn't a decision we deliberately took. For simplicity lets assume we enter the ecosystem independently as soon as the umbilical cord is cut and we were tapped on the butt to induce crying. The first gush of air for the lungs and the loop begins. Since birth we've been exchanging air and water, among other things, with the ecosystem.

If we take a clue from the biological ecosystem, we'd find that startup ecosystem is also not very different. As soon as we 'conceive' an idea we become a part of the ecosystem 'by default'. Again since no one taught us about it, we remain a little unaware of it. However, just like the biological ecosystem all we need to do is "start breathing". Take the first step, begin the exchange. A little difference here is that you'd need some awareness and voluntary effort to keep the exchange going.

So just get some awareness (knowledge) about the startup ecosystem around you and begin interacting, exchanging. First step you can take is do an online search about e-cells, incubators and accelerators in your area. You can look for Headstart and TIE chapters and visit their events. You can explore co-working places and visit them. That's all for being aware. There is no exchange so far. Exchange happens when you meet people, take small steps to help them or take their help. In most simple way, you can begin an exchange by asking questions, answering their questions, connecting them to relevant resources/people you know. Now you need to keep doing it, over and over. And in some time you'd realise what gives you more leverage.

The gist of my understanding so far is that for better impact, one should focus on maximising "What you can give?" instead of focusing on what you can get. It sounds altruistic but it's a fine business strategy.

The more you are perceived as a giver, the more powerful you become in an ecosystem. 

So the simple way to leverage the ecosystem is by "Giving". Now you don't need to throw in money. You also don't need to be a speaker, writer. You may just need to invest some quality time with people, for people. Ask their stories, tell your story. Become a part of their story, make them part of your story.  If you don't have a great story yet, share other interesting stories you came across. Evangelise. You just need to make sure that some of your time and effort goes in solving problems for others, if possible. If you can write, speak publicly - that definitely accelerates the process, but is not mandatory to become influential.

Just for an example you read a blog post, you go back to life, interaction ends there. No exchange happened. However, if you read an article and leave a comment an interaction begins. You share it on social media, more people engage, interaction multiplies and you create a following for your self as well. When you share a kind of article people start associating the knowledge and insights in that article with you as well. If you add your thoughts to it as a comment, another interaction begins, another opportunity to give, another avenue to gain some power.

So just be aware, start breathing, start giving and you are on your way to leverage the startup ecosystem.

And for curious souls here's the slide deck I presented at IIM Bangalore.





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Thursday, June 23, 2016

What to do with Startup Ideas?


So, you understand that most Startup Ideas are nothing without execution. But a lot of folks struggle with what to do next. How to take the first steps towards executing an idea. I've been interacting with a lot of wannabe entrepreneurs and they are stuck at this question. I have an idea and I don't know what to do next. Some people quickly build a solution (an app/website) and then realise that building a solution is not the best option. So, I've come up with a few things that a lot of guys were able to adopt and most of them realised that their idea was either not what their customers wanted, or not really what they wanted to do.

So, here’s what you can do with your startup ideas:

(This one is mostly for eCommerce and Marketplace related ideas. May not work if you are bringing in a New Tech to the market.)

Idea Validation Workshop @ IISc Bangalore
1. Think of your idea in the most primitive form. Keep all exceptional cases aside. Keep only the basic cases in mind. Imagine how would you do it if there was no internet or smartphones? That takes website and apps out of the equation. Can it be implemented using Phone number? Weather it is a
healthcare service, or food tech or hyperlocal they all are businesses that may be “facilitated” using technology (websites and apps) but it is a fallacy to think in terms of these mediums as business ideas. App is NOT your business idea. It’s a medium to reach out to your customers. It’s a platform for your customers to interact with your service. It may be mandatory to have a scalable business, but it is not the business idea in itself. And if it is, stop reading further.

E.g. 1. Hyperlocal delivery of medicines.
Can it be facilitated using an App?
YES. 
Does it require an app to function?
NO.
All it requires is Sellers (a pharmacy with drug distribution license), Buyers (people who want specific medicines home delivered), A platform to connect these two (doesn’t necessarily be an app or website, people can order on phone).

E.g. 2. Food Tech for delivering Milk.
Can it be facilitated using an App?
YES. 
Does it require an app to function?
NO. 
All it requires is Sellers (a dairy or shop), Buyers (people who want milk home delivered), A platform to connect these two (doesn’t necessarily be an app or website). People can order on phone and in some cases people just shout from balcony and get it delivered.

E.g. 3. Mobile Video Tutorials for Students/New Moms/Home makers/for Cooking/for Art/for Music etc.
Can it be facilitated using an App?
YES. 
Does it require an app to function?
NO. 
All it requires is Videos (and Teachers who can create videos), Consumer (people who want tutored at home using videos), A platform to connect these two (doesn’t necessarily be an app or website). You can get the video or links on email, deliver CDs etc.).

Think primitive.

2. Find one provider and one user. 
Find one real person who wants to sell, and one real person who wants to buy (outside of your group of friends and family). Sometimes it may be one of your friends or family but then, getting a stranger helps even more.

3. Think of yourself as the platform.
You are "The Platform". Much like "Tu Beer Hai". You Connect the real users. Fulfill that one user’s demands. Buy the medicine, prepare the food, create the video and deliver to your user. See what problems you faced, what’s the gap in demand and supply? Could you get that one customer? Could you get that one seller? Could you fulfill what your users were looking for? Could you deliver on time with required quality and delight the user? Did you make any money in the process (Did you earn revenue, was there any profit?)?

4. Do you still want to continue? 
Do this for 5 to 10 users before you embark on your journey to replace yourself (you are still the platform) with a technology platform and technology mediums like apps and website. That’s how you’d know for sure what idea to work on and how.

5. Action.
There is no real step here. If you’ve done last 4 (“done” and not just read them), you’d know what to do next.

Do it. Take action, go for it. You now have a very high chance of creating a winning startup.

All the best.





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Thursday, June 9, 2016

How to write the BEST RESUME?



Most jobs still need resume. People are trying to disrupt it but Resume is STILL (as of today - June'16) very important. Writing the resume is serious exercise. Please spend some quality time on it.

Here are a few tips to get it right:

1.  Reduce the number of pages to single page. At maximum you can make it 2 pages. Yes, it works. yes, it works in India. Make sure it is either 1 page or 2 full pages. Half a page looks silly. When you do it you'd get rid of all unnecessary sections, redundant words and focus on extremely significant words and achievements. This itself makes your resume more powerful.

2.  Spell Check, Grammar check, Review. And get it reviewed from others whose resume may have worked. No points for guessing this is so critical. Ask friends in HR/Recruitment about how likely is your resume to get shortlisted - no one can tell you better than them.

3. Focus on quantitative aspects - How significant has been your role in past. Writing "Played a significant role..." is subjective. You need to objectify it using numbers. E.g. "Improved conversions by 5.4%". Throw as many numbers as you can. Or try to quantify the impact of your work in some other way. E.g. Saved a big account by reducing their costs.

4. Begin each sentence with an Action Verb. E.g. Managed a team of..., Created documentation for..., Improved signups by..., Increased lead pipeline by...

5. Format it for clarity. Don't make your resume look dull and monotonous. Make it scan friendly so that it highlights things that you want to talk about. If a person looks at it for 5 seconds, he should be able to remember 3 to 4 words that you'd want her to ask questions around.

6. Feel free to use colours, picture etc. But do not even think about it until all previous checkpoints are cleared.

7. Please make sure your LinkedIn profile is up-to-date and provide a link on your Resume.

8. Please top up your resume with a personalized kickass cover letter that tells an organization/founder why you want to join them and why they should even look at your resume. Cover letters work. They are like the subject line of an email. Make it about them and not about you. Count how many I/Me have you used in your cover letter. Try to convert most of them to YOU/Your Organisation. Tell them how you can help them.

Comment here if you have any specific questions.





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Wednesday, February 10, 2016

How to get Training, Internships, Jobs at Startups?



I see a lot of people wonder on Quora if there are any startups that are hiring. And I’ve had engineers (even from IITs) ask these questions – how to get internship, how to get job in your dream company. Or how to find out what one should do? The problem stays same for both freshers and experienced folks – year after year.

The problem is both wide and deep. We are taught engineering, but never taught how to earn a living. Nevertheless, people come out of colleges, try to carve their own path and figure stuff on the way. Then they look back and bitch about the system. The easy way out, perhaps. While I do that too, I thought it may help if I can change something somewhere, at least for a few students who are looking to go beyond the basics and want to know stuff.

Here’s an example of a student who reached out to me (I don’t have a clue why, and how’d they find me… and it doesn’t matter!) :)

Student: Hello Sir, I am pursuing my engineering degree in CS from …XYZ… college, wish to get training from a company outside of the college so that we can understand the actual working style. What should I do for that?

My Answer:

I am happy to see that you are already taking steps to reach out and find opportunities. Good. The first thing you’d have to understand is that companies need awesome people, as much as people need awesome companies. With that understanding you’d need is to think from a company’s perspective why should they give you some time/opportunity/training.

How can YOU help them? If you are from computer science you better be good at something related to it – coding/finding-issues-with-code/mathematical-or-statistical-analysis/problem-solving/designing/identifying-patterns-in-data. I would believe from your background that you may not be able to truly understand anything I mentioned, after the first one – coding. So, assuming that coding is what you are good at, you need some proof in your kitty to show that you are actually good at it.

How? How’d you ascertain if someone is a good painter? or a writer for instance. Wouldn’t you ask them to show their paintings? So it is logical that a good coder codes. Codes for the love of it. Easy stuff – learn some PHP/Ruby-on-rails on the web and create some websites. Or learn some Android development and create an App or two. What app/website? Anything. A simple thing that solves a simple problem.

Now, what if you are NOT good at the only expected thing you should be good at? Well, then you’d need to find out what you are good at, or what you think you’d want to do in future. E.g. sports/music/events/ marketing/ sales – if you think you can do something well you should DO IT often.

Either it will give you confidence and motivation to do it more often or the option to look for something better. 

So keep trying new stuff and keep doing what you love to do.

Don’t wait for someone to ask you to do it. E.g. if you like identifying problems with something or if you are good at bringing in new ideas – take a product. any software product – an app (may be). Think Gmail/ Facebook/ Ola /Uber/ CouponDunia/ Signeasy/ Bookmybattery. Do you think you can improve them? If yes, how? Observe, analyse, jot down your ideas, create a report. Send your work to those guys. They are always listening. That is your way of telling them how useful you are.

That was just one example – I’d leave it to your imagination on how you’d come up with your worth, your story, doing what you really love to do. Once you have that in your kitty, reach out to these people. Most of them have career pages, write to people on LinkedIn, on twitter. Tell them how you need a chance to help them. Don’t drop in your Resume, write a letter to them and you may attach a resume if you like. Be true and candid. Do it more often, for anyone and everyone you think you can help. Do it because you love doing it. They’d love to have you onboard.

I am sure you were not expecting such a big chunk of gyaan and I could have shared some links like internshala.com, letsintern, hellointern, twenty19, inturn where you can find internship opportunities.
But, I thought it will help you in the long run. I hope it does.

Let me know if now you think you can help me. 
Hint: Start by leaving a comment and sharing this post on facebook/linkedin. 

Best luck!

Update: Found this nice example of how Anand did it for Zomato.




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