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  #16 (permalink)  
Old 08-26-2009, 06:39 PM
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Some excellent points in this thread. indyanguy, I can help you with contacts if you are looking for like minded people to start something.

About me - have prior experience (aka burned my hands) and currently pursuing MBA at Berkeley.
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1 out of 1 members found this post helpful.
  #17 (permalink)  
Old 08-26-2009, 07:01 PM
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Having some experience in the past making business plans, I can suggest to research following things before you take the plunge
1- What is unmet need of customer? customer pain points?What it will take to switch to your product/service
2- What makes your product/service unique?
3- What is barrier to entry? Why will big guns won't jump in? Competitors
4- Target market size in terms of $'.? Market growth $ or users terms?
4.1- Entering new market/ resegmeting existing market?
5- Customer acquistion cost? Means to reach target customers
6-Any primary or secondary market research to back up your 1st point (unmet need of customer)


PM me and I can help you build your idea further.
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  #18 (permalink)  
Old 08-26-2009, 08:53 PM
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psaxena has a reputation beyond repute psaxena has a reputation beyond repute psaxena has a reputation beyond repute psaxena has a reputation beyond repute psaxena has a reputation beyond repute psaxena has a reputation beyond repute psaxena has a reputation beyond repute psaxena has a reputation beyond repute psaxena has a reputation beyond repute psaxena has a reputation beyond repute psaxena has a reputation beyond repute
Default sure...

I met one of the guys during my consulting assignment , he was the director for his vendor company and I was lead of mine , and work together on a project and I was the mentor for IIIrd member on one of the project. So my Ist partner called me up and asked if I would be interested in working on the concept that he had.

Normally lot of people come to me with different ideas and ask to partner with them to work (most of them wants to save the development and execution cost by partnering becuase if the concept fails they don't have to give anything )and I do my due diligence to see how good the product is and if there is advantage of getting associated with it. So when my friend came up with this product, analyzing the business value and the benefit that this product may offer to the client, figured out that this is a product worth putting the effort in. So called up my third friend, very sharp but a little less experienced to work on it and thats how it started.

The different aspects that needs to be taken into consideration while choosing a product for the dvelopment.
1. ROR (Rate of Return)
2. Break even Analysis w.r.t NPV
3 Risk and Assumptions.
4 Niche factor ( If this is not their don't even think of it)
5. Initial Market penetration strategy ( This is the key, if the initial market penetration cost and effort is too high) don't go for it unless you are doing that task full time

These factors can easily tell you if the product concept is good or bad.

When I said a few idea never took off, means those ideas failed at either one of the five points so never been worked on. May be in future I may try working on them. and the few which took of and crashed, were the ones slipped thru these 5 points and made it to the development and launching but running them was damn difficult ( though never been in a loss but had to close them off as those started eating my time and brain and NPV of my time was much higher than putting it into those concept to run.

I cannot tell the whole concept of the product , I am currently working on 2 product development, I can tell for one and not the other one.

So the product idea is to have a web affiliation hub for ****** businesses and providing the search engines the wrapped up tags so the spider can rank them on the top and based on the monetization of the domain folio for the clients the commission will be taken up.
There are businesses who have the domain folio of a millions but without monetization its nothing, putting thru our system(which is under process) the folio can be ranked up to funnel generating tons of money, and clients can pay the percentage everyday based on the days domain portfolio.

This is the most I can explain about my product , but its very very very deep, took over 2 months derive the concept.



Quote:
Originally Posted by indyanguy View Post
Sure, I can use all the help I can get

A few questions:
1. The friends who are helping you with the development - how did you meet them? are they your colleagues from your FT job, are they someone you met in groups/organizations or are they your childhood buddies?
2. You mentioned that some of the ideas took off and crashed. By this, do you mean that you had a finished product but had no VCs or customers?
3. The idea that you are working on currently - on what basis did you choose to go with it. How did it originate and how did you conclude "this is the one"?
4. Mind sharing in what area your idea is focussed on (don't want specifics - just a broad general explanation will do)

Thank you!
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Result for psaxena:
Your position is 53193 in the Green Card Queue based on your Country of Chargeability "India", Priority Date "Aug-06" and Category "EB3" .
Your Expected Date of Adjudication is Sep, 2028.
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  #19 (permalink)  
Old 08-30-2009, 08:01 PM
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Quote:
Originally Posted by vikki76 View Post
Having some experience in the past making business plans, I can suggest to research following things before you take the plunge
1- What is unmet need of customer? customer pain points?What it will take to switch to your product/service
2- What makes your product/service unique?
3- What is barrier to entry? Why will big guns won't jump in? Competitors
4- Target market size in terms of $'.? Market growth $ or users terms?
4.1- Entering new market/ resegmeting existing market?
5- Customer acquistion cost? Means to reach target customers
6-Any primary or secondary market research to back up your 1st point (unmet need of customer)


PM me and I can help you build your idea further.
Thanks for your comments. I do understand that the points your listed are valid in situations where you have a lot of resources at your disposal. For companies that start off with 1 or 2 individuals working part time along with thier FT jobs, would it be possible to practically do the kind of research that is required?
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  #20 (permalink)  
Old 08-30-2009, 08:07 PM
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Quote:
Originally Posted by psaxena View Post
I met one of the guys during my consulting assignment , he was the director for ...
I worked on one of the projects for 1 year before I burnt my fingers. I have a followup quesiton in this regard:
1. Do you have a written agreement with the people you are working with or is it a verbal one?
2. Does signing a NDA or a NonCompete with your FT job hinder you working on your projects in any way?
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  #21 (permalink)  
Old 08-31-2009, 03:44 AM
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yetanotherguyinline is a splendid one to behold yetanotherguyinline is a splendid one to behold yetanotherguyinline is a splendid one to behold yetanotherguyinline is a splendid one to behold yetanotherguyinline is a splendid one to behold yetanotherguyinline is a splendid one to behold
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Quote:
Originally Posted by indyanguy View Post
I worked on one of the projects for 1 year before I burnt my fingers. I have a followup quesiton in this regard:
1. Do you have a written agreement with the people you are working with or is it a verbal one?
2. Does signing a NDA or a NonCompete with your FT job hinder you working on your projects in any way?
If you have to get into a contract right when you start, then you are with the wrong set of people. Trust is a two way street and matters a LOT (the co-ordination between soldiers in movie 300 comes to mind). But register a company with appropriate stake for each participant when there is some progress.

NDA with your company is always negotiable if you have the right lawyers. Just make sure you don't directly compete with your current employer or use their property/time to do your part time work.
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  #22 (permalink)  
Old 08-31-2009, 03:47 PM
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vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of
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Quote:
Originally Posted by indyanguy View Post
Thanks for your comments. I do understand that the points your listed are valid in situations where you have a lot of resources at your disposal. For companies that start off with 1 or 2 individuals working part time along with thier FT jobs, would it be possible to practically do the kind of research that is required?
uh--huh..ahem..actually..yes. :-). These research points are even more required for startups in seed stage to build up credibility of founders.
Sometimes, it takes only one week of research to figure things out. This is different from calculating ROI as there are so many unknowns in initial stage. But what is unique about a service/product being offered should be known.
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  #23 (permalink)  
Old 08-31-2009, 03:48 PM
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vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of vikki76 has much to be proud of
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Quote:
Originally Posted by indyanguy View Post
Thanks for your comments. I do understand that the points your listed are valid in situations where you have a lot of resources at your disposal. For companies that start off with 1 or 2 individuals working part time along with thier FT jobs, would it be possible to practically do the kind of research that is required?
uh--huh..ahem..actually..yes. :-). These research points are even more required for startups in seed stage to build up credibility of founders.
Sometimes, it takes only one week of research to figure things out. This is different from calculating ROI as there are so many unknowns in initial stage. But what is unique about a service/product being offered should be known.
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