Sunny Ray

Start Living the Live of Your Dreams

How to Start a Startup?

If you’re trying to start a new startup, you’ve come to realize that there’s a tsunami of information out there. Unfortunately, most of it is quite bad advice. So during these times, where do I suggest you look for solid startup advice? Let me tell you…

Y combinator is like the Harvard of startups. It’s based in Silicon Valley and has given rise to companies such as AirBnb and DropBox. Sam Altman and crew have decided to make all of their secrets public.

To check out the rest of this essential startup course, visit: https://startupclass.samaltman.com/

What is Management?

The One Minute Manager is a very short book by Ken Blanchard and Spencer Johnson. The brief volume tells a story, recounting three techniques of an effective manager: one-minute goals, one-minute praising and one-minute redirects. Each of these takes only a minute but is of lasting benefit. Here’s a diagram which summarizes the key principles taught in the book:

Screen Shot 2019-05-17 at 12.51.24 PM.png

As Peter Drucker put it, “the very best leaders are first and foremost effective managers.” Those who seek to lead but fail to manage will become either irrelevant or dangerous, not only to their organizations, but to society. To gather a deeper understanding of Management, I suggest reading his book titled “Management”.

Peter Drucker: Management as a Whole

The internet provides everyone with equal access to information and eliminates distance in the world economy. The rate of change is accelerating, and one can react to it, adapt to it, or become proactive and lead it - thus influencing future environmental trends. A highly inspired organization consists of people who are proactive in leading change by discerning the future that has already happened.

By taking advantage of emerging trends, executives should embrace the ongoing process of creative destruction that is characteristic of free and global markets. By doing so, these executives become change leaders. An organization that seeks to maintain status quo is already in decline.

Change leaders formulate entrepreneurial strategies and look for opportunities to apply these strategies. They also create an internal culture and set of management systems that encourage and reward innovation and entrepreneurship.

The most effective way to seize opportunities to manage the future that has already happened is to be proactive, take advantage of emerging trends, embrace change, and become a change leader. Management practices must change to fit these new realities of the global, knowledge-based information society.

What is Innovation?

The word “innovation” is thrown around these days, with little appreciation for what it really is. What does it mean to you? Here’s a picture to get the conversation started:

Innovation is where passion, competency and customer needs connect.

Innovation is where passion, competency and customer needs connect.

Innovation is turning an idea into a solution that adds value from a customer’s perspective

What mistake do companies often make when they talk about it? They talk about it being a company value without actually putting the required level of support behind it to make it happen. Coming up with ideas is relatively easy, fast and cheap, but then those ideas need to be executed. This is where companies often fail, by not providing the required level of time and budget to take a rough idea, refine it, experiment on it and finally turn it into a real solution.

Additionally, companies usually think of it just from an internal viewpoint, such as whether they think the offering is being improved when it is updated. In reality, if the customer doesn’t perceive the changes as having value, then they won’t be compelled to purchase it. So it is all about the customer’s perceived value.

What simple thing can a company do to change their perspective about it?  Flip it on its head, and look at every new thing you are trying for various customers’ perspectives. Here’s how google defines innovation:

innovation: a new method, idea, product, etc."

innovation: a new method, idea, product, etc."

“Success Matters, Failure is Inconsequential”

My favourite quote is “Success Matters, Failure is Inconsequential” by Vinod Khosla, the prolific Silicon Valley billionaire VC & founder of Sun Microsystems. When we’re 100 years old and sitting around, our failures will most probably be long forgotten. It’s our successes that will be etched into the history books of eternity.

Many of you are aware of the challenges we’ve been facing over the past year in India with respect to the Reserve Bank of India. Due to these hurdles that we are currently facing in India, we are seeking partnership opportunities outside of India. If you are interested in exploring the idea of working with Unocoin to bring digital currency solutions to your country, reach out.

In the meantime, I’ve also personally decided to open myself up to new opportunities within the bitcoin, robotics and cannabis industries. If you’ve enjoyed my work in the past and wish to explore collaborative opportunities, this is the time to reach out.

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