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Tag: Venture

  • The power of failure: Lessons from a failed venture

    The power of failure: Lessons from a failed venture

    The word failure carries a negative connotation, it is so because people perceive failure as their ultimate defeat. It won’t be wrong to say that failure is an inevitable part of life and more so in business.

    However, one fails to understand that failures can act as a catalyst for growth. It can foster grave changes in the business and the way it operates. Thereby, encouraging you to build a more resilient business that can be profitable in the long run.

    So, take a deep dive and learn how the power of failure can transform you and your business.

    The need for flexibility-  

    In this ever-changing landscape of business. It is necessary to adapt to the changes and pivot when necessary. Failures can teach a person to embrace change. It makes you flexible and empowers you to adopt new policies and work on a different idea, even if it was not a part of your original plan.

    This implies, that one should be ready to work on your ideas, grab opportunities and take feedback seriously. As it could offer insight on your business model and whether your strategies are working or not.

    It fosters creative thinking

    Failure in business can make you consider ideas you once thought were outlandish. It can pester you to reassess your approach towards business and adopt strategies that you earlier dismissed as too risky.

    Taking market research seriously

    Market research can play a critical role in shaping your business from knowing the customers’ needs, identifying the target audience, competitive analysis, and the cost of labour. Which can offer you an insight into the profitability of your business.

    Many businesses fail because they don’t delve into market research and are too quick to invest in their project.

    Network expansion

    Having strong support is important in both business and life. It is when one fails at a venture, that one realizes the need for a strong support system and building a network. That can help provide advice and support in times of distress.

    Which can create opportunities for collaborations, partnerships, and mentorship. It can also help you find a co-founder, who can complement your skills and work like a team to achieve business goals.

    This quote by Thomas A. Edison resonates with my message, “I have not failed. I’ve just found 10,000 ways that won’t work.”

    So, instead of dwelling on past failures. View them as stepping stones toward exploring and seizing new opportunities in business and beyond.

    The article has been authored by visionary leader and inspirational mentor Suresh Meshramani.

  • Kallie Purie launches new digital venture ‘India Today North-East’ to showcase the area in a better way

    Kallie Purie launches new digital venture ‘India Today North-East’ to showcase the area in a better way

    MUMBAI: India Today Group vice-chairperson Kallie Purie has launched the Group’s special digital venture ‘India Today North-East’ at the fifth edition of the India Today Conclave East.

    Speaking at the Conclave, Purie said, “This is our India Today conclave fifth edition. It has been a fantastic orientation to the region. Thank you. I mean it’s basically because of the audience and the people that we have here.”

    “And it made us realise this area is just so rich and so diverse, it’s almost impossible for us to showcase all its talents and its issues in just two days. These eight states are known as the North East and if I may, I borrow it from our prime minister’s Akshaya Lakshmi, I think deserves more of a spotlight. So, with that in mind, today I am very proud to launch our latest and newest venture, focused on the North-East, called ‘India Today North-East’,” Kallie Purie said.

    Purie also stated that the new venture will be based out of the North-East and with its launch, India Today Group hopes that it will be better equipped to showcase the area and its USPs.

    “We will be looking at this region with this new venture, it will be based out of the North-East. And I hope that it will be able to showcase the area better, as well as, I think, to a certain extent, correct some of the misnomers that exist out of the region and its very beautiful people,” she said.

  • Nearbuy associates with KFC to give out discount offers on food

    Nearbuy associates with KFC to give out discount offers on food

    MUMBAI: Nearbuy, an ecommerce venture has partnered with KFC. This strategic association will help customers find the nearest KFC outlet through Neaarbuy’s location based application and consumers can even  avail discounts on KFC’s combos  containing signature items such as Zinger Burger, Hot n Crispy Chicken, Cheese Crunch Burger, Rice Bowlz and more.

    With this new partnership  Nearbuy expects to drive half a million customers over a period of one year to its website; customers who will purchase these vouchers and avail them at the various KFC outlets.  This mutually benefiting partnership will not only offer an opportunity to the local commerce player to tap onto the growing base of young food lovers but also benefit KFC’s overall online market penetration and drive their sales growth.

    KFC India CMO Luis Ruiz Ribot  csaid, “We welcome this partnership with Nearbuy. This is part of our strategy to provide greater accessibility to our Finger Lickin’ good food for our ever-increasing online customer-base.”

    Commenting on the unique partnership, Nearbuy CEO and co-founder Ankur Warikoo said, “We are thrilled to extend our association with the leading QSR brand of India – KFC. Our collaboration is a testimony to the common values we share as a brand, and wish to offer the best to our customers. We are happy to share that 11000 consumers have already grabbed this exciting deal. We hope that this association benefits both players, and we continue to offer exciting benefits to our respective customers.”

  • Nearbuy associates with KFC to give out discount offers on food

    Nearbuy associates with KFC to give out discount offers on food

    MUMBAI: Nearbuy, an ecommerce venture has partnered with KFC. This strategic association will help customers find the nearest KFC outlet through Neaarbuy’s location based application and consumers can even  avail discounts on KFC’s combos  containing signature items such as Zinger Burger, Hot n Crispy Chicken, Cheese Crunch Burger, Rice Bowlz and more.

    With this new partnership  Nearbuy expects to drive half a million customers over a period of one year to its website; customers who will purchase these vouchers and avail them at the various KFC outlets.  This mutually benefiting partnership will not only offer an opportunity to the local commerce player to tap onto the growing base of young food lovers but also benefit KFC’s overall online market penetration and drive their sales growth.

    KFC India CMO Luis Ruiz Ribot  csaid, “We welcome this partnership with Nearbuy. This is part of our strategy to provide greater accessibility to our Finger Lickin’ good food for our ever-increasing online customer-base.”

    Commenting on the unique partnership, Nearbuy CEO and co-founder Ankur Warikoo said, “We are thrilled to extend our association with the leading QSR brand of India – KFC. Our collaboration is a testimony to the common values we share as a brand, and wish to offer the best to our customers. We are happy to share that 11000 consumers have already grabbed this exciting deal. We hope that this association benefits both players, and we continue to offer exciting benefits to our respective customers.”

  • Venture capitalist Jim Breyer to leave Facebook’s board

    Venture capitalist Jim Breyer to leave Facebook’s board

    MUMBAI: Accel Partners‘ Jim Breyer will leave Facebook‘s board of directors in June. The company was an early investor in Mark Zuckerberg‘s online social network.

    Accel has enjoyed a 337 times return on investment. Facebook said, “On 23 April, James W Breyer notified Facebook of his decision not to stand for reelection to the Board of Directors at the company‘s annual meeting of stockholders to be held on 11 June. He will continue to serve as a director until the date of the annual meeting.”

    “Jim made many, many important contributions during his long tenure on the board and we were well-served by his presence. We will continue to have a strong relationship with Jim and going forward, we‘re thankful we can continue to rely upon the tremendous depth and expertise of our recently expanded board.” The social networking site added.

    Breyer wrote, “It has been a genuine honour to serve as an investor and board member since April 2005 as Facebook has grown from an emerging social network for US college students to a global service that connects over a billion people.

    “After over eight years of board service, it‘s time to step aside in light of my other responsibilities, including my recent election to the Harvard University Corporation Board. I will leave the board knowing that Facebook is a global internet leader with exceptional leadership within the company and on the board.”

    When Accel invested, Facebook had twenty employees and less than $1 million in revenue per quarter. Now it has over 4,500 employees and more than $1.5 billion in revenue per quarter.

  • News Corp to launch MySpace in China in a few months time

    News Corp to launch MySpace in China in a few months time

    MUMBAI: US media conglomerate News Corp is looking to launch its social networking site MySpace in China within the next few months.

    It has finalised a deal with partners, including private equity heavyweight IDG and reports indicate that News Corp will have a 50 per cent stake in the venture.

    The IDG-Accel China Growth Fund, managed by venture firm International Data Group Technology Venture Investment, will also own a stake.

    The deal, if successful, will be a positive move for News Corp which has made several attempts to tap China’s rapidly growing media market.

    But the venture will have to negotiate with China’s strict regulation of media content, as well as compromise on potentially sensitive content.