This is my last post on VW till I return from my US trip in July .
We are approaching tax season in India. For a number of years in the US I have used the Quicken family of products including Turbo Tax. There are other interesting personal finance sites like Bank Rate, Lending Tree, Value Line, Motley Fool etc. to name a few. I am interested in getting involved in a play along the following lines in India.
What is the play?
A destination site to help individuals invest in various asset classes in India. Individuals could be resident in India or overseas.
Can critical mass be achieved?
Yes it should be possible to get over a million users.
Can critical mass be monetized?
Yes getting an average ARPU of Rs 1000 ($25) per year should not be hard.
Lots of people have tried and not got much traction. Why will this play succeed?
Good question which I would like anyone who sends me a pitch to answer. I obviously believe that the play will succeed which is why I am interested.
Can a startup do this? Will it get killed by deep pockets of existing media / financial services players?
Good question which I would like anyone who sends me a pitch to answer. I obviously believe that the play will succeed which is why I am interested.
The Bottom Line
I am looking for entrepreneurs who are passionate and capable of executing this play. If you think you have what it takes I will be delighted to interact with you.
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Mohit thanks for your input on ValueResearch. Will look at their site. Yogesh/Gautam I will interact with you.
I would suggest to people like “idea” that this blog is not exactly bursting at the seams where space is at a premium. If you believe that people should ignore this post that is your opinion and you can state that in a civil fashion.
I do not aim to tell you what you should or should not do and I would appreciate the same courtesy.
That having being said I am often blunt and I do not take offence at your being blunt and obnoxious but I suggest that you do your homework and not hide behind anonymity if you are blunt.
Hi Sanjay,
I would like you have a look at http://www.rupeex.com.
Our vision in many ways gels with yours. I would love to have your feedback the strategy & our website
Yogesh
+919845123560
@krish,
I like your posts as well as your comments (replies) to fellow bloggers here..and admire your intelligence posts here..
your sequelventures posts are good as well.
Keep up the good work…maybe someday, i will meet u in person or work togethr…………
waiting for my day as big swinger in town!!.. 🙂
P.S: I am interested in angel investing/VC areas..and have taken a small stake in decent size company…in return for marketing activities in APAC region.
Sanjay,
please do not waste the space here at venturewoods with your rants.. everybody will have such simple ideas which you are posting here..
execution is important…and u know it..
Obviously, you dont know how to execute the idea, otherwise u would do it yourself? isn’t it? everybody is after $$$ or white elephants as u call it.
Why the hell somebody wud come to u for a $10k (peanuts) and end up giving 3-4% of company.
Online business needs following:
– expertise in business (tax matters, which u dont have)
– expertise in technology/IT skills ( which u dont have)
– expertise in management (i doubt that, lot of investors are really not good in day to day management)
so tell me, why should a newcomer come to u?
P.S: In case you want to do your business in angel investing/private equity, start your own blog and we will see how many smart heads turn up on ur blog..don’t waste the space here..
If such a service is contemplated today it would take some time for it to launch and one of the components maybe a totally free e- tax filing service for assessees who can use ITR- 1. In fact there may be service guarantees to build confidence in e-filing. ( For tax it would only be available for returns filed in 2008)
Instead of spending advertising rupees to get customers it makes business sense to lose some money per customer ( as long as money lost per customer is small) if you can monetize the customer base you create.
It will be hard to beat a well designed service that has a useful basic version that is free. There are many examples of this approach including PayPal, Skype, Google etc where there is a base service which is totally free.