Shark Tank: A must watch for Entrepreneurs ( Sunday Binge Reading: 09)

 

(Photo courtesy: pexels.com)

At the outset, I would like to say that I do not want to recommend TV shows to anyone. Most of the TV shows are meant for entertainment. These shows are no-brainers. Well, life will be monotonous without these shows. We human love stories and TV shows know well about that. There is a new show that is the talk of the town. It is called ‘Shark Tank’. Initially, the ‘Shark Tank’ show was broadcasted in the USA long back. I might have watched them long ago and forgotten about them. At that time, I was unable to comprehend various financial terms. So, it did not interest me that much. Nowadays, the “Shark Tank” Indian version is being broadcasted on Sony. But, this time, it is somewhat different for me. I have come across various financial terms due to many obligations, and in India, there is a great push for ‘start up’ culture by the Indian Government. A few years ago, people laughed and mocked people who did business. Now, it has become respectable. Young boys and girls want to start something their own. This is a great sign. Many ‘start-ups’ have seen phenomenal success lately. They have become unicorns such as Lenskart, Zerodha, Shaddi.com, Boat, Bharat Pe, Flipkart, Zomato, Swiggy, Ola, etc. We all know these brands and probably, we all have bought their products or services at some point in time.

The journeys of entrepreneurs are not easy. They face a financial crunch all the time. The ‘Shark tank’ show gives them a chance to raise money for their operations. But, I am recommending the show from a different point of view. Those who want to start a business should watch ‘Shark Tank’ because it is a treasure trove of knowledge. You get good concepts on sales revenues, profit before tax, EBITA, competitive advantage, compounded annual growth, the role of patent & copyright, first-mover advantage, business scalability etc. These concepts are complicated to grasp for people like us who are from non-business backgrounds. Above all, one can have an idea about presenting a pitch before an investor. This concept can also be used in personal interviews because career counsellors always tell one to behave as a business of one. We are all business of one offering our service in return for money.

At last, I would like to recommend a book called ‘ Zero to One' by Peter Thiel, who founded Paypal. The seminal book on businesses describes how a successful business is set up. Moreover, it casts light on how a business tries to be a monopoly in a step-by-step way.

 

You can read B.Tech Guidebook & Campus Placement Guidebook: For Engineering Students by the author

 

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Remember what you read!!!! Digest what you read!!! (Sunday Binge Reading: 07)

 

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Every day, we see a lot, hear a lot and read a lot, and at the end of the day, we forget most of it. Our minds are made to forget things. Otherwise, our minds will be full of things. As a student, we have to learn a lot every day. Some subjects are easy to remember because they have certain concepts which can be related. You read the subject, understand the underlying concept and you are done. Mathematics is such a subject.

On the other hand, you get subjects like history, geography etc. These subjects need to be memorized. Every program has those kinds of topics or concepts which need to be memorized. There are some techniques.

(1) In the first technique, suppose you have a subject that has a certain portion that needs to be memorized. You make the notes in bullet points and start slowly. Every day, you read one page and try to repeat it in your mind in your leisure time. The next day, you load a new page and do the same. You continue until it is complete. You will see that things have been engraved in your mind. Most IAS aspirants use this technique because they have to cover a lot of current affairs. There is no other option but to memorize them.

(2) In the second technique, you remember things relating to some day to day life objects or fun things.

 (3) In the third technique, you teach somebody else, and in the process, your concept gets cleared, and you remember the concepts for good. It is known as Feynman Technique, developed by renowned physicist Richard Feynman. Now, there is a problem, and you do not get people to teach because people do not care too much about what you have to tell. In that case, you can make excellent video explaining things. It pretty much does it. Later on, you can either upload it online or dump it somewhere. Your job is done. That is a happy ending.  

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