cheapbag214s
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Posted: Sun 3:32, 18 Aug 2013 Post subject: The 5 lessons entrepreneurs must learn from the In |
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The 5 lessons entrepreneurs must learn from the Instagram deal
So let's assume that you had Rs 5200 crore and wanted to buy a company on the Mumbai Stock Exchange. Fancy a solid engineering business? Just pick up Thermax for Rs 5300 crore. Wanna be 'super cool'? Buy Voltas! It's available for Rs 3900 crore. Don't feel like working anymore? Wanna retire? Well, choose The East India Hotels (aka Oberoi) for Rs 4800 crore or The Indian Hotels (aka Taj) for Rs. 4700 crore!
Having tempted you with these splendid buys,[link widoczny dla zalogowanych], would you allow me to force you instead to buy a business that is less than two years old, has no revenue (yeah,[link widoczny dla zalogowanych], you read right), has no plans to make revenue, and employs just 13 people? Let me add,[link widoczny dla zalogowanych], a business that doesn't even have a real business plan?!
Well, I am not drunk (or hungover) on a Sunday morning. I am in my senses when I tell you that Facebook has bought a little known Company called 'Instagram' (the puny company I was pushing at you), for Rs 5200 crore!!
Now that we're on the same page,[link widoczny dla zalogowanych], allow me to circle back. Back to my cave. Back to when I saw the flash of light.
There,[link widoczny dla zalogowanych], I saw the Goddess of Internet herself, smiling and shining! She blessed me and said,[link widoczny dla zalogowanych], "Son, your tribe of Internet entrepreneurs has prayed to me long and hard. Your time has come. Now and forever, remember the five stars that will always show you the path to glory. She pointed to five stars that shone like mini suns in a still dark sky.
The Goddess disappeared, but the stars remained, shining bright. In these few days,[link widoczny dla zalogowanych], this is what the five stars have started teaching me:
Instagram is an 'app'. (Silly young people make acronyms of everything; during the good old British Raj it was called an 'application'.) Now, the Instagram app is free (like fresh air and love) that mobile phone users all over the world can use to 'dress up' their otherwise banal phone photographs. Users simply use Instagram's amazing filters and effects on their dull photos and then publish the new 'polished' photos on Facebook,[link widoczny dla zalogowanych], Twitter,[link widoczny dla zalogowanych], etc.
Instagram makes you look like Atul Kasbekar or RaghuRai,[link widoczny dla zalogowanych], even though you are really a tax embezzler who doesn't even know how to use your phone camera.
Now, if you are a Marwari accountant (like me) and are trying to figure out how much you are charged to become an ace photographer, you are in for a shock. Instagram does not charge its users anything. when the amount is 1 billion dollars, you are supposed to pronounce it as "dollarzzz",[link widoczny dla zalogowanych], as the Goddess said.]
The Zero Revenue Star teaches me that my meditation should be to delight people, to make them feel special, to make them do things they could never do before all this, without charging them. In doing so, I in turn, will become very valuable!
The Acquisition Star teaches me that if I remain fanatically faithful in creating what I think is 'delightfully helpful'; then someone else will believe me,[link widoczny dla zalogowanych], my product and buy me. And at that time it will not matter if I have revenues or teams or brand gyaan.
In the past 96 hours,[link widoczny dla zalogowanych], the Five Shining Stars have begun to redeem me. A struggling Internet entrepreneur,[link widoczny dla zalogowanych], long shunned as someone who burns VC money, dreams of castles in the air, creates companies with zero revenues and demands heft valuations, has seen the light!.
Yes. All pages of the Website are subject to our terms and conditions and privacy policy. You must not reproduce, duplicate,[link widoczny dla zalogowanych], copy, sell, resell or exploit any material on the Website for any commercial purposes.
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