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Before you innovate, get out of your comfort zone

I had the pleasure of speaking to a batch of about 130 students, startup aspirants, product developers last week at the Innovate Delhi event. I was teamed up with Rajat Garg, of SocialappsHQ, and a heavy-weight with facts, numbers, trends, valley companies and slides. We were to cover “opportunity hypothesis’ broadly – how does a startup get an idea; validate the idea; build a demo/prototype and how the idea evolves into a business. Rajat and I spoke the night before (having him as a co-conspirator for the TIE Indian Internet Day event helped) and we decided to put on a joint session rather than one followed by another. Rajat would put up some slides, covering the theoretical framework and I would lead a workshop type session engaging the audience around their observations.

As I reached the venue a bit early (surprising since I had a long drive from Gurgaon to Okhla) I had some more time to gather my thoughts and think about what/how I would try to communicate. On a hunch, I decided to move around the hall (library converted to a training hall, with cameras, voice recorders and lots of other gizmos that only professors at Stanford can afford to have 🙂 and observe the batch to find some ideas that I could build on.

innovate delhi teams
As I went around the hall, some patterns started to form. Most of the folks were in blue jeans – the de-facto dress for the generation. About 20% of them had Apple laptops and the rest windows (similar to trends in India) but nearly all of them had squeaky clean covers – no personalization, no stickers proclaiming their love for free world! Nearly all of them had their laptop chargers plugged in (though it was an hour prep session and most laptops were fully charged). Though it was a hot day and so many bodies made it a wee bit sticky, all of the attendees were glued to their desk/seats even though the assignment was to think and come up with ideas on “marriage apps”. And the most critical observation of all, nearly all of them were glued into their course workbook; and the FB page setup for the event.

And then it struck me – this was a typical group of young Indian professionals, who love to “conform”. They all had been good students, mostly good kids, folks who would describe themselves as “being different” but would completely fit into a “stereotypical” definition of an IT/tech product persona. They were all living in their comfort zones – not ready to push their own limits, not expressing their yet-to-be-formed personalities, safe in the middle-of-the-road lives they were living. As I looked further to validate these assumptions new patterns emerged. Only 2 out of 130 had brought along tablets as their primary device. Nearly all of them had smartphones but very few were working on the FB page/course app on their phones? Few were taking pictures of the class and tweeting.

innovate delhi 2I had found my core argument for the day – I was going to challenge the group to think of their own personalities, experiences, behaviours. I was going to inspire them to reflect on who they are, and who they want to be and how they would differentiate themselves first before thinking of great, differentiated, innovative products that they would design, develop and bring into the world. I would show them how living (and using) on the edge of technology is almost a pre-requisite to pushing the boundary further; how great ideas evolve from personal needs and small advances which turn into big stories cause as the follower crowd discovers the same challenges when their use graduates and are happy to use the solutions the leaders have created.

And therefore, as Rajat opened his talk with the big concepts around finding an idea; finding a space that has some tailwinds, taking risks etc and set the stage for some curiosity, I found the means to engage with the audience with these questions:

  1. If the fashion trends for the day are colored trousers (yellow, green, orange), why are 90% of you in blue jeans?
  2. Why don’t I see any art, stickers, graffiti, pictures of any laptops?
  3. Why don’t I see folks using tablets when we all know that tablet volumes have crossed laptops this year
  4. Why did folks prefer to sit at their desks than take their laptops out into the terrace with a lovely garden view for the ideating exercise

But most importantly, could they think of pushing the boundary of any tech usage when they were not living on the edge themselves, when their own habits were on the trailing edge?

Needless to say, the rest of the talk was fun, interactive and stimulating. Rajat had some great slides – internet & mobility trends, numbers and wisdom from the trenches. I was able to co-relate those slides into how folks should use that information into their own “opportunity hypothesis”.

innovate delhi3As I look back at the end of the week, I find myself thinking again about the ‘conformity” of our post-independence indian culture; the regimentation of our education system and our social expectations that we need to break first before disruptive, revolutionary innovators and entrepreneurs will emerge. Hope this brief note makes you think a bit about yourself!

 

 

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Innovate Delhi Entrepreneurship Academy: Apply to the June 2014 class.

One of iSPIRT ProductNation central goals is to build a vibrant ecosystem for the next generation of Indian software product statups. That is why we are so excited to partner with Innovate Delhi Entrepreneurship Academy.  The three-week long academy, which takes place in June, works with aspiring entrepreneurs to hone their skills in innovation, team-building, and strategy. Complementing the great one or two day startup events that seem to take place nearly every weekend in India, Innovate Delhi offers a more comprehensive and in depth experience.  Members of the June 2014 class will have the chance to learn cutting edge design and business frameworks, hear from successful entrepreneurs, build long-lasting relationships and perhaps even meet a co-founder and secure some initial seed funding!

You can apply to the program at www.innovatedelhi.com/apply.  Applications are due by February 1st.  More information about Innovate Delhi can be found below and at their website www.innovatedelhi.com.

What is Innovate Delhi?

A three-week academy for aspiring entrepreneurs to be held on the campus of Indraprastha Institute of Information Technology – Delhi from June 1 to June 22, 2014. Innovate Delhi is funded by grants from Stanford University’s SEED institute and IIITD. During the three-week academy, participants will learn from professors (from Stanford GSB and IIITD), entrepreneurs, and industry experts about design thinking, marketing and branding, competitive strategy, venture design and leadership. Each week, participants will complete a project with three of their peers that will help them learn how to identify market opportunities, iterate on product ideas, and effectively start and grow their own companies. Teams with the best projects can win big prizes—over the three-week program Innovate Delhi will be giving away prizes totaling 4 lakh Rupees to help participants fund their startup.

Why apply Innovate Delhi?

Three simple reasons: 1) Learn the latest startup frameworks from professors, entrepreneurs and experts; 2) the chance to meet startups that will be recruiting great talent; and 3) a chance to win 4 lakh Rupees in prizes that will help you turn your vision into a startup.

Who should apply?

We look for men and women who are smart, creative, and passionate about changing people’s lives by creating innovative products and services. There are are only three formal criteria for applying. You should be: 1) fluent in written and spoken English, 2) be 18 years or older, and 3) own a laptop that can run Google Chrome and connect to wi-fi.  This year, Innovate Delhi will be accepting 300 applicants.  We expect to receive many more applications than there are spots available, so apply early at www.innovatedelhi.com/apply Applications are due by February 1st, 2014.

When and where will it be held?  Innovate Delhi will be held from June 1-22, 2014 at the campus of IIIT-D in the Okhla neighborhood of New Delhi. Housing will be available on campus.

How much does it cost?

With funding from Stanford’s SEED Institute and IIIT-D, the only cost will be a small materials and technology charge totaling Rs. 3,000 and for students staying on campus, there will be a Rs 11,000 room and board fee. You can apply to the program at www.innovatedelhi.com/apply.  Applications are due by February 1st.

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Deepinder Goyal of Zomato on “ethics, respect, attitude and skill”

Deepinder Goyal is the founder and CEO of Zomato, India’s first online food guide to go global. Founded in 2008, Zomato recently raised Rs. 227 crore from Sequoia Capital and InfoEdge in one of the largest funding rounds for a consumer internet company in India. This deal values the company at over Rs 900 crore ($150 million) and has “best positioned” Goyal “to build a formidable global internet company out of India.” Prior to founding Zomato, Goyal was a management consultant at Bain and Company. He holds an integrated masters in Mathematics and Computing from IIT Delhi.

This post was conducted by Innovate Delhi, a three-week long academy that works with aspiring entrepreneurs to hone their skills in innovation, team-building, and strategy. Applications are due on 1st February at innovatedelhi.com/apply

[Innovate Delhi] What prompted you to start Zomato? What made a graduate from one of the most prestigious colleges in the country working at one of the prestigious companies in the world start a restaurant discovery website and mobile app?

[Deepinder Goyal] Back in 2008, I was working at Bain and Company, one of the largest management consulting firms in the world. At Bain, I noticed that my colleagues used to line up to view the stack of restaurant menu cards in the cafeteria during lunch hour. There was a rule that you cannot take the menus to your desk since people generally ended up losing these menus causing inconvenience for everyone. Looking at the queue, and to save the trouble for everyone, I just scanned these menus cards and put them online for everyone to use. This small intranet website started getting a substantial number of hits from people within Bain. That is when we realized that we can build a business out of scanned menus. That is how Zomato was born.

Deepinder-zomato-Pankaj

You told your parents about your decision to quit Bain only after quitting. What was their initial reaction? As an entrepreneur, how important is having family on your side?
My parents don’t really think about things once they have happened. So when I told them that I had quit my job, their reaction was “Ok, whatever”. They asked me to tell them if things get difficult for me financially. My wife Kanchan has supported me right through – she is a big believer in Zomato. It is important having family’s support in your entrepreneurial pursuits. If one is focused on their goals, everything eventually falls into plan.

To preview out next interview with P Rajasekharan of v-shesh, we found out that he frequently brings his daughter to his office. Do you see yourself bringing your daughter to Zomato and blending your personal and professional lives?
I don’t know. I don’t plan such things. If it does happen, it will not be because I planned it to be that way. It will be because it has to be that way.

One thing that sets apart an Indian company from US-based companies is that Indians are willing to work harder. People here can and would work 24×7 to accomplish something. That’s the sort of advantage we have here in India in terms of people.

You believe in hiring “good people.” What has been the best and worst hiring decision you have made?
We look for qualities like ethics, respect, attitude and skill – in that order. Looking back, all the people that we have asked to leave have either failed at Level 1 (Ethics) or Level 3 (Attitude). Mostly at Level 3. Similarly, the best hiring decisions we have made have been in being able to identify people with energy, focus and persistence.

Deep Kalra, our first interview for the Innovate Delhi blog, told us that an entrepreneur should be ready to do anything and everything in the initial years. What have been some memorably crazy challenges that you have met and not met?
The major challenge we have faced so far has been making sure that we have covered each and every street in the cities where we launch and have information for each restaurant in the city. Ideas can sometimes matter less than the execution. Hiring the right people has also been a major challenge. When we hire, we try our best to ensure that people are cultural fits – skill alone does not cut it for us.

For global internet corporations too, India is now the preferred choice for new investments.

In your corporate and entrepreneurial journey, how do you think the Indian entrepreneurial space has evolved and what are the most promising trends today?
A lot has changed in India over the past few years. Let’s look at three things first: Start ups, venture capitalists (VCs) and the market. There are a lot of good start ups that we see nowadays. We have many role model firms and entrepreneurs today and people are looking up to these role models to build up their companies. The ecosystem has evolved quite a lot, though it still needs to do much more. In terms of VCs, there are many entry-stage and growth funds coming in and they are more willing now to take risks with their money than they were earlier. Thirdly, the local market has changed a lot. Earlier, consumers were very rare to find. But now, it’s relatively easy to hit scale.

One thing that sets apart an Indian company from US-based companies is that Indians are willing to work harder. People here can and would work 24×7 to accomplish something. That’s the sort of advantage we have here in India in terms of people.

Now with the growth of internet penetration with over 200 million Indians logging onto the internet, there is a huge opportunity for web-based start-ups in the consumer space. VC money flows to markets which have large problems to be solved with start ups solving them, India is one such market. For global internet corporations too, India is now the preferred choice for new investments.

One of our key goals for Innovate Delhi is to build a community of like-minded entrepreneurial individuals. To that end, how have you fostered and maintained your professional relationships throughout your career? How has the changed or evolved since you started Zomato?
Networking and building strong professional relationships is important for any entrepreneur. I have built a strong network over the years that has been very helpful. It always starts with alumni networks and grows from there.

If you were a judge at our program, what would be the top three qualities you will look for in an aspiring entrepreneur?
Focus and clarity on what needs to be achieved. It has been the one principle we have followed in everything at Zomato right from product to sales to hiring. Well, ‘Rome wasn’t built in a day’. Persistence and consistent effort are required in order to translate an idea into a business. Also, to follow through is important – to deliver on what you set out to do.

Well, ‘Rome wasn’t built in a day’. Persistence and consistent effort are required in order to translate an idea into a business.

This blog post was written by Sonal J Goyal for Innovate Delhi Entrepreneurship Academy. Innovate Delhi is a three-week long academy that works with aspiring entrepreneurs to hone their skills in innovation, team-building, and strategy. Applications are due on 1st February at innovatedelhi.com/apply

 

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MakeMyTrip’s Deep Kalra on bowling, resilience and going against common sense

Deep Kalra is the founder and CEO of India’s leading online travel company MakeMyTrip.com. Founded in 2000, the company is now the largest e-commerce business in the country and listed its shares on NASDAQ in August 2010. Prior to founding MakeMyTrip.com, Mr. Kalra has had corporate stints with GE Capital, AMF Bowling Inc. and ABN AMRO Bank. He holds an MBA (PGDM) degree from IIM, Ahmedabad and a Bachelor’s degree in Economics from St. Stephen’s College, Delhi.

Read on to find out about the true test of an entrepreneur, the importance of knowing dhanda at a startup and going against common sense.

[Innovate Delhi] You believe in turning what one loves doing into a business model. How did you figure out what you love and turned that into India’s leading online travel company? 

Deep Kalra[Deep Kalra] For all entrepreneurs you have to focus on something that you love. But it definitely took me three jobs to figure out what I loved – I worked in banking, I worked in a very entrepreneurial role at AMF Bowling and I worked for GE Capital. Between these three roles, I figured out that I enjoyed the untrodden path. I was excited by stuff that had not been done before or at least not been done before in this part of the world. My second role was very entrepreneurial and I enjoyed that the most despite the fact that it was not financially a success. But I really had the time of my life which made me realize that I rather be doing my own thing.

What did the failure at AMF bowling teach you? How important do you think failure is in an entrepreneur’s journey?

AMF Bowling was a game changer in my own mind in terms of approaching different problems. Here was a problem that had not been thought about – How do you sell a family entertainment center around bowling which had not existed before? Addressing this problem was a learning curve in doing dhandha which is different from corporate business. Overall, it was a good learning experience in terms of a start up and solving problems that had not been solved before. It was also very personally fulfilling to me and I didn’t want to give it up. In hindsight, common sense would have dictated that I called quits within a couple of years but I worked with AMF Bowling for four years. So it also taught me that I can keep my head and chin up during a period when things are not working.

How is doing dhanda a unique challenge in itself? I read that you have bribed repairmen with bottles of rum to fix rat chewed cables. What challenges does the Indian entrepreneurial space pose and how do you deal with them while ensuring that you don’t lose sight of your larger goals?

I didn’t make a habit of bribing repairmen with alcohol but did so some unconventional stuff! The important lesson is that in the first many many years an entrepreneur should be ready to do anything and everything. And a lot of people are not. It’s better to start your entrepreneurial journey earlier than later because you have lesser hangups. At the same time, there is something to be said about good work experience. I don’t know what is a good amount. For me it was 8 years. But some entrepreneurs have never worked for someone else. I would recommend, especially in the Indian context, to work for a couple of years in a good company. It will help you later in life- you want to hire good people, you want to keep them motivated, you want to do the right things. I don’t think any amount of education prepares you for those kind of decisions.

In the initial years, an entrepreneur spends most of the time doing non-core business because you don’t have a team. And in India, things take longer. But hopefully with more interest and infrastructure in this space, the processes will get shorter. For instance, its getting easier to hire good talent. A startup is no longer a very unusual career. As an entrepreneur you have to be an excellent seller because you are selling all the time. Even if you are not doing the traditional selling of your product, in the early stage you are selling to get good talent. You are selling your story, your company all the time. You have to convince people to give up their great job at GE Capital or a think tank or Unilever etc to join one’s company. And then you need to sell to raise money. Each time you go out to meet current investors and potential investors, you are selling without realizing. And you have to work harder to sell your story in India because there are fewer startup success stories here.

You have clearly done a great job of selling to potential hires, MakeMyTrip has consistently been ranked amongst the the Top 10 “Great Places to Work for in India” by The Economic Times in the last four years. What is the culture at MakeMyTrip that make it such a great place to work?

The culture at an organization is related to the founding team or founder. One of the titles that the founder carries through life is Head of Culture. The founder has to walk the talk. I think it really comes down to passion and personal values of the founding team. Because then you end up hiring people for values. Then you start percolating down those values among similar minded people into a “culture” or whatever you want to call it. Over time it becomes established and you can talk about it.

In your corporate and entrepreneurial journey, how do you think the Indian entrepreneurial space has evolved and what are the most promising trends today?

There has been tremendous change in the last 3-4 years. The quality of entrepreneurs is improving. People have a much better overall view of what they want to do and what they need. There are lesser and lesser people who want to do something that’s cool. So folks are coming in for the right reasons. I love that there has been a great increase in the amount of angel funding that is available but there is big gap between angel and early and Series A and Series D deals. You can get your first round of capital fairly easily if you are an individual with a good plan but you have to be ready to perform in the next 12 months to get your Series A.

Do you think entrepreneurship can be taught or are entrepreneurs born?

I think its largely inherent. When things are going well, anyone would rather work for themselves everything else be equal. But that is typically not the case. Everything else is not equal. Let’s say you are going to make 50% of the money. Then what is it that you really want to do. And I think that is the test for if you want to be an entrepreneur or not. And yes, entrepreneurship can be taught but I think entrepreneurship has to be learnt more than it can be taught. And you learn it on the job. Ultimately, if you are happy being on the job, everything will work out.

If you were a judge at Innovate Delhi, what would be the top three qualities you will look for in an entrepreneur?

Agility and flexibility is one. There is a fine line between stubbornness and resilience. You have to believe in your idea but also be practical enough to make changes as you go along. You have to be wired analytically. I don’t know of any other way to run business. Creativity is important but if you are not fundamentally analytical then you will end up making decisions that are sub-optimal. And the third one is being a very good people’s person. It goes back to culture and teambuilding and it is something that comes to entrepreneurs naturally.

This blog post was written by Sonal J Goyal for Innovate Delhi Entrepreneurship Academy. Innovate Delhi is a three-week long academy that works with aspiring entrepreneurs to hone their skills in innovation, team-building, and strategy. Applications are due on 1st February. Apply at http://www.innovatedelhi.com/apply/