on Nov 19, 2010 in Entrepreneurship
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Should Startups be Vision Oriented or Money Oriented??
Based on the discussions/comments on my previous post (say Volume I) I am glad to put down the opinion of some members of Startup community. So now here we are having the personal opinion of the people from startups based on their own experience.
So lets start the debate once again.
MONEY is a major resource and constraint as well for startups. Especially for the bootstrapped startups it really matters to look after the money matters very carefully, as ignorance may cause lethal effects. Mr Sunil from www.10screens.com suggest the example of our IT industry where the startups with Money minded orientation are making good money and are quite successful as of now. if your start-up is “Vision Oriented” then money is the means to achieve it and If it is “Money Oriented” then money is an end in itself. Either ways, money is a necessity. It is also a good scorecard as it’s measurable. Vision, Mission, Goal…..all these things tend to be subjective and cannot be measured well.
At other end Vision also sounds of equal importance. There are people who strongly support the Vision Orientations. Mr. Shashikant Joshi from Thinking Hearts, asks some basic questions to the people who believe the money minded orientation, as following:
- why do you choose an IT or software biz to make money?
- If making money was the only goal you could open a restaurant, gamble, buy lottery tickets for life, or ride the corporate ladder in someone else’s biz?
- why do we choose a certain path? our bent, aptitude, ability or lack of it in other fields.
Then HOW do we do it, is our VALUES.
He further cite the example; 2500 years back, MaharShi Veda Vyasa said through the wise minister Vidur – “Engage with Purpose, not just Desire” (विज्ञाय अर्थे भजते, न कामात् = viGYaaya arthe bhajate, na kAmAt = after understanding [the task] engages with purpose, not [mere] desire) i.e. have a purpose for your endeavors, not just desire to do the most ‘exciting’ job, ‘greatest challenge’, ‘latest technology’ these are all desires.
As a Startup, we face all sort of good n bad days. In bleaker days what makes us moving; is it money lure? Or some thing else? but it is the purpose, the goal, the vision that will keep you going.
The mentor to the CEO’s; Ram Charan says in his book ‘Execution
‘ – Have a Purpose, else you will lose the Enthusiasm when things go Downwards (paraphrased).
If startup is money oriented chances of manipulation may come in for approach of attaining Vision or Goals; which will end up in measurably failure in long term, says Ravindra Salunke from Fintech Finishing Technologies
Alok Ranjan, COO, Walking Tree
, prefers Vision orientation for startups but you must ensure your cash flow to ensure that you are able to meet your financial commitments. See if someone is able to fund for your vision - may be you don’t have to be money minded at all
So to sum up all the points, let me conclude that one must know the purpose or objectives of it’s work. Money matters as it’s a mean to achieve the goals, but the money minded orientation may not last for a longer period unless you have a purpose in mind. Dnaynraj
says it correctly that if you are making money it’s perfect, but you must be able to manipulate that whether do we need to compromise our ethics, goals or vision to earn money. Money and Vision are both an integral part of startups life cycle, nothing can be ignored.
Hope readers will get some learnings from viewpoints of industry people.
It would be glad to receive further inputs from readers.
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