Recently I attended a panel discussion on Entrepreneurship In Digital Media – Opportunities & Challenges.
The panel members for the same were
–>Alok Kejriwal – CEO Games2win.com
–>Beerud Seth – Co-founder & CEO of Webaroo
–>Mahesh Murthy – Founder and CEO of Pinstorm
–>Sameer Guglani – Founder – Morpheus Ventures
As a part of MumbaiBloggers team, me and @unitechy were live twitting from the event for the benefit of those who could not attend the event. Here is the discussion in form of the live tweets.
# Recession is a gr8 time to start a company..
# No business plans survives in 1st contact with consumer. Continue innovation is necessary..
# We need online companies that solve real problems. Like irctc
# We need to break the commission system to extract better from digital media.
# The courage of stupidity is very necessary
# not all digital media spends through agency’s
# Money is not the way to get good results from online media.. Brains is the way..
# There isn’t enough ecommerce in india. Thats one reason for no big success
# internet will evolve much in mobile platform more.
# You can’t just copy ideas from west.. You need Indian pattern..
# By virtue of not using online media, the marketing people are actually missing the big opportunity..
# Orkut and twitter is much bigger than IPL in India.
# Sasteme kardenge is what has so far worked in online media
# product needs culture.
# One difficult thing for entrepreneur is knowing culture of ur audience
# Teenpatti is big deal in India than poker. You need to know the people for whom you building apps
# Just staying online is not the best thing unless its some site line traveling based
# Having data is not enough. How to monetize it is also important.
# Pure online can’t be the buzz word in India
# work for bread and butter don’t care about jam
# Venture capital is new in india and not very positive results. So they are still worried about investing money
# only pathetic product needs to spend. good product grows
# You need to spend on advertising only if you are pathetic product. If you are good product, you don’t need advertising
# User generated content is good thing. Creating money from it is important.
# Getting funded at the top of the buzz raises expectations and can be harmful
# Markets have cycles and you need to understand and live with that.
# High valuations come with high money and high expectations.
# A loss making company can not go public in India by law. This restricts opportunities for entrepreneurs
# what happened on web will happen on mobiles
# open platform FTW
# india still in voice penetration state. operators still selling voice
# Its a big challenge to change the ecosystem in India
# India VAS much behind in terms of software
# The consumer thinks of what he is paying and not what are company’s internal charges
# There will be more money coming if you can deliver through by platform
# never go to bigger companies. go to companies who want to make it big.
Hey dinno,
a good roundup of the important points at the panel. Nice to have a summary like this accessible
@Bhowmik:
Thank for appreciation. Credit goes to unitechy. I’ve kinda coied her post here…
Hi,I am rather late to have discovered this but enjoyed reading it.
Though,i am not sure if some points make too much of a sense.
# You need to spend on advertising only if you are pathetic product. If you are good product, you don’t need advertising
This is so not true.To know tht u r a good product,u need to advertise it first.Or the feedback is neva gonna come!!!
# The consumer thinks of what he is paying and not what are company’s internal charges
You can never expect that to happen.Why should the customer be bothered,he will only pay for his job to be done.
Just my insights in the hope that someone might have therories to refute what i said
@Ankit:
About the first point- take case of savitabhabhi.. they never had to advertise.. google never advertised anywhere.. And this was in context with digital media..
Second point – i guess we both are saying the same point in different words..