MAM
Guest Column: Start-up hacks: A cheat sheet for success
With the convergence of technology and media, we are witnessing tremendous activity in the start-up space. From content to distribution to broadcast to affiliate opportunities, there is no dearth of new ideas and their backers. Surprisingly not all of them are covering all their bases to crack the start-up success code.
Having been a part of four start-ups in leadership positions along with all the insights gained through studying hundreds of others, here are 9 ways that help us better understand them and reasons that make them succeed.
1. Start-ups are not smaller versions of large organisations. Bonsai have a different life and game plan as compared to large trees. The two should not be compared and start-ups should not be expected to emulate the large organisation.
2. Start-ups do not adhere to a ‘set’ business plan – in most of the cases the challenge is to find one. As Mike Tyson famously said on his opponent’s pre-fight strategies: everyone has a plan till they get punched in the face. Business Plans are a necessary evil but for a start-up they are nothing more than fictional plans and rarely do they survive their first contact with customers.
3. Customer Plan is much more important than the business plan. This may include customer engagement, customer stickiness, brand advocacy score, net promoter score, etc. “Your most unhappy customers are your greatest source of learning,” said Bill Gates.
4. Data is the new oil. Data undergirds everything. Period.
5. Start-ups need to fail fast, fail often, fail cheap and fail better. Constant experimentation and continuous learning is the name of the game rather than elaborate planning. Start-ups need to keep their persistence levels high. “You don’t learn to walk by following rules. You learn by doing and falling over,” as famously told by Richard Branson.
6. Iteration is the key word for every aspect of the business. Launch and iterate. And again. Everything is changeable except the intent to give one’s best to making it big.
7. Repeatability and scalability are two pivots to search in the early life cycle stage. Investing in growth in stage 0 is almost a sure-shot pre-requisite. Mostly start-ups are dealing with a new concept and/or a habit change. This may initially require selling only on the strength of price (not the brand or anything else) and may call for disproportionate investments and therefore profitability may be a long way off.
8. Turmoil and chaos are integral to the existence of a start-up. Those who cannot stand the heat, need to get out of the kitchen.
9. Lastly as Jeff Bezos said – Entrepreneurs must be willing to be misunderstood for a long time.
The M&E industry as much needs start-ups as the rest of the economy. As research shows, the success quotient can go up if the above factors are kept in mind.
 Piyush Sharma, a global tech, media and entrepreneurial leader, created the successful foray of Zee Entertainment in India and globally under the ‘Living’ brand. The views expressed here are of the writer’s and Indiantelevision.com may not subscribe to them. |
Brands
Manindra Mohan joins CoinDCX as SVP & head – data & analytics
Former Amazon and Unacademy analytics leader to scale crypto insights
MUMBAI: India’s crypto exchange CoinDCX has appointed Manindra Mohan as SVP and head of data and analytics, bringing on board a seasoned data strategist at a time when the country’s digital asset market is entering a decisive phase.
In his new role, he will steer enterprise-wide data science, analytics and business intelligence initiatives. His mandate spans product, growth, risk and customer experience, with a clear brief to embed data-led decision-making into the company’s core as it scales across India and beyond.
Announcing the move, Mohan said he was “thrilled” to join CoinDCX, calling the Indian crypto market pivotal and ripe with opportunity. He thanked co-founders Sumit Gupta and Neeraj Khandelwal, along with Mridul Gupta, for the opportunity to help shape what he described as the future of finance.
He noted that architecting data solutions for a 24 hour global asset class presents a formidable challenge. Yet, he added, the chance to redefine financial access and drive crypto adoption “across every pin code in India” makes the task compelling.
Mohan arrives with nearly two decades of experience across technology, media and digital platforms. Before CoinDCX, he served as head of data science, analytics and BI at Carousell Group. Prior to that, he was SVP and head of analytics at Unacademy, where he built and scaled the analytics and insights function supporting product, sales, marketing and finance teams.
His earlier stints include heading analytics for Amazon prime video in India, where he oversaw data across product, acquisition, engagement and content, as well as serving as senior manager data sciences and advanced analytics at VMware and senior manager marketing and digital analytics at Dell Technologies. He began his career as senior business analyst at Cognizant, working on large scale crm and analytics implementations for global clients.
Colleagues describe Mohan as a builder of teams as much as models. From managing global analytics rollouts to leading large cross functional units, he has consistently combined statistical rigour with commercial instinct.
At CoinDCX, that blend could prove timely. As crypto exchanges navigate regulation, volatility and rising user expectations, data is no longer a back office function. It is the compass. With Mohan at the helm of analytics, CoinDCX is betting that sharper insights will translate into deeper trust and broader adoption in a market that never sleeps.
