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An UpBeat Now! Conversation with Raj Setty Part 1

July 29, 2009 by Liz Leave a Comment

BootStrapping During a Recession and Mistakes We Make

rajesh-for-website

I’ve known Rajesh Setty for many years and I’ve followed his wisdom for just as long. He started writing as a child of 9 and published his first book at the young age of 13.

I interviewed Raj the first time when he released his book Beyond Code. You’ll find the five days of our conversation introduced here.

This year I had the honor and the pleasure of being part of launching his new book UpBeat Now! at our SOBCon09 conference in Chicago. I’m more than delighted to share it here with you now.

This is the first part of the conversation we had …
Hi Raj, I understand the story of the book is an upbeat story in itself, would you tell the tale now?

Thanks Liz for the opportunity to have this conversation.

I had an opportunity to build my first technology startup during the previous recession. It was not easy. The easiest way to define what was happening then was that “nobody was buying anything from anyone and everybody was trying selling something to everyone.” If we loved bad news, then we were in luck. There was bad news everyday – on the TV, in the newspapers, on the radio and there was generally some bad news shared during any interaction with anyone – online or offline.

We learned a lot during that period as the only way to have survived running a “bootstrapped” startup was to stay Upbeat. So I wrote most of it during that journey but by the time I completed the book, that recession was over. So I packed it up and and kept it aside. I didn’t have to wait for long as there was a another recession very soon. I unpacked the book, updated it and got it published.

What is “the trap” and how do you see it among the people who are trying to start a business online?

One of the traps in the context of being Upbeat is to be gripped by engaging in discussions about topics on which you have very little control on. Some of these may be important topics (such as social security, economy, foreign policy etc.) but endlessly talking about them when you have “unfinished” projects is a trap.

When it comes to online businesses, I see several traps.

1. Thinking if they can do it, we can do it.

People get excited when they see an online businesses and think that “technically” they can also do what has been done. However, when you look at an online business you only see the “tip of the iceberg.” There are so many things that are not easy to see when you see an online business. It will be a miracle if someone can copy an online business just by watching it from outside.

2. Thinking if you build it, they will come.

Yes that may happen for a VERY small percentage of the companies. In MOST cases, you not only have to build, you have to drag people who will reluctantly (kicking and screaming) come to check out your site.

3. Thinking if people talk about their online business, they will succeed.

Getting press alone may not take an online business far. Unless the customers love the business AND are willing to pay for it, nothing significant will happen.

4. Chasing exceptions as if they are rules

Often people keep quoting YouTube,Twitter, Flickr etc which are successes in their own way. While you may be able to replicate the technology piece with your skills, it is not easy to copy their successes.

5. Using the wrong metrics

Rather than using revenues and profits as metrics, it is easy to get carried away by eyeballs, pageviews, downloads etc. Ultimately without revenues and profits, you will need a miracle to succeed.

Raj had so much interesting information that we’ll be sharing the rest on Friday. Tune in then to hear about the disciplines that online businesses can use to get on an upbeat path to success!

–ME “Liz” Strauss
Work with Liz on your business!!

Buy the ebook. Learn the art of online conversation.

Filed Under: Marketing /Sales / Social Media, Motivation, Successful Blog Tagged With: Busness success, Rajesh-Setty, Upbeat Now

Comments

  1. Todd Smith says

    July 29, 2009 at 11:15 AM

    Nice perspective, Rajesh. Thanks for your insights. I love how you talk about an online presence as just the tip of the iceberg.

    Everyone has great ideas, or recognizes them, but to bring them to fruition takes more than most people are willing to give.

    Reply
  2. Rajesh Setty says

    July 29, 2009 at 12:26 PM

    Thanks Todd.

    Yes, typically how a business is “organized to execute” on their plans is not public.

    Have a great afternoon.

    Best,
    Raj

    Reply
  3. Todd Smith says

    July 29, 2009 at 1:11 PM

    Very good point. We don’t know what is involved for a tree to make an apple. We just enjoy the fruit.

    But if you want to be an apple tree yourself, you’ve got a lot of research to do! 🙂

    Reply
  4. Rajesh Setty says

    July 29, 2009 at 1:23 PM

    Precisely!!

    Cool analogy there too 🙂

    Best,
    Raj

    Reply
  5. Todd Smith says

    July 29, 2009 at 1:29 PM

    Thanks. Great to meet you, Raj.

    Reply
  6. Ken says

    July 29, 2009 at 4:16 PM

    Great stuff, Raj

    If it was east anyone could do it. then where would we be.

    BTW..great YouTube Channel, Liz

    Reply
    • ME Liz Strauss says

      July 29, 2009 at 8:09 PM

      Thanks, Ken.
      Yeah Raj’s book and his insights are amazing!

      Reply
  7. Rajesh Setty says

    July 29, 2009 at 4:46 PM

    Great to meet with you Ken.

    Most people want to avoid problems but look up to heroes who solved “big” problems.

    Rather than looking at a problem as a problem, when you reframe it as an opportunity that only a few will take, life will be more fun.

    Quoting from my latest book – “greater the challenge, sweeter the victory.”

    Have a great afternoon.

    Best,
    Raj

    Reply
  8. Tim Bursch says

    July 29, 2009 at 10:22 PM

    Raj,
    Thank you for sharing reality about ideas and starting businesses. I just heard the word gold-rush again today about Social Media. Not sure about that.

    There is a tension between dreams/ideas and reality. It would be crazy to chase after every idea. But some dreams need to be put into reality to change the world. That seems to start with an upbeat mind and heart.

    Reply
  9. Rajesh Setty says

    July 30, 2009 at 12:19 AM

    Thanks Liz for the kind words.

    Thanks Tim.

    Yes, when it comes to starting companies, the best is time. That is the same answer if you ask me anytime in the future 🙂

    There is always an opportunity and the only requirement is the “right help” that can be assembled in a way that we can “powerfully organize and execute” to realize our dreams.

    Best,
    Raj

    Reply

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