rentnread.in: A story of my maiden startup

Saturday, June 07 2014; 08:00 PM. I packed the final stuff remaining. Officially I close the company I started on August 18 , 2013. My maiden startup it was rentnread.in. The concept was to make textbooks available for students  at affordable rates. Allow them to take book on rent and return it upon use. i couldn’t make it large but it will always remain close to me as it was my first ever business and  with no monetary help from anyone. Anyways I learnt many lessons from my start-up that I will always remember. Few things I learned from my start-up

1. Know your market: Yes. Its very important to know your potential market. Do pilot project. Go meet the potential consumers. Tell them about your product.  Take their feedback.  And make sure you use that feedback. Supply has no value unless there is demand,

2. Find a co-founder: This one is as crucial as your firm. Look for someone of the same wavelength like that of you. Someone who would take care of your firm in your absence. One reason rentnread suffered was my absence.  I’d not discuss why; but I wasn’t available to provide services for a good period of two months and people thought firm vanished. Don’t let this happen. Go wherever services should never stop.

3. Communicate: Communication has kept world alive. Had there been no communication human beings would not exist. Communicate with your co-founder, your sponsors, your clients and most importantly talk to yourself. Tell yourself your mission, vision and goal behind having started this business.

4. Do your homework well: Do your homework well. When you pitch your project to potential VCs; tell them how your project is generating revenue.  When you pitch your project to customer; tell them your USP.  If your service depends on factors that seriously affect your business or a essential part of your business; make sure you take care of that part.  Eg. rentnread  heavily depended on delivery of the book to the consumer and pick up.  Inadequate transport system was one reason for failure. had I figured it earlier ,story would have been different.

Anyways when I learnt this it was already too late. But I will bounce back. Soon

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INTERNSHIPS: Why is important to be an intern?

With placement season coming closer in colleges; like a ritual I penned down application letters and résumé for a few friends. Some of their résumés looked nothing but plain BIO DATA. Reason was simple: They were so engrossed in getting educated in college that they never got any sort of industry education. This is not entirely their fault. Very less courses have compulsory  internship as a part of the course.

Most of the colleges focus on OVERALL DEVELOPMENT of the results so they can boast and continue the in-flow of students constantly. On an average only 20% students go through internship during undergraduate course. Here is why I feel one should get engaged into internship.

EXPOSURE: India often regarded as THIRD WORLD by the West is booming into service sector. International firms are setting up their service process units in India. There is a large pool of employment but students are UNFIT for it. Industries do train their employees but they expect the new comers to have basic knowledge of how things work. Nothing looks better than experience letter from a firm attached with your résumé. So go out and EXPOSE yourself.

Team Management: Hanging around with group of friends is completely different from working with a group of people you have not known before. Even if you are going to work with small company; there would be people around you. You may not like certain things about their behavior, actions and vice versa. If you are industry virgin, you may face HARD time fitting into office and might turnout to be a misfit.

Skill Development: Internships are meant to polish an individual. If you possess skills, develop it. This is possible when you work in firms where you get chance to do self-analysis. Also you develop new skills.

There are lot of other benefits which you get as in intern.

1. Enhanced communication skills
2. Building professional network
3. Self analysis
4. Boosted confidence.

and much more. There are lot of companies that felicitate students to get internships and companies to get interns. letsintern; hellontern twenty19, letmeknow, india interns, internshala are some of the leading internship companies in India.

So if you haven’t looked for any internships yet, go grab the opportunity and improve your résumé.

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