Rediff.com does it again: wants to ape the next new shiny thing.. !
Why do they do this??
I have said this before and I say it again.
Because I have seen this before and I see this YET AGAIN!
Rediff.com always wants to be LIKE someone else.
And mostly like the best new thing that has happened out there, and is already established and famous.
And THEN, Rediff.com will come with its version of the same thing!
I have seen ALL of these transformations at Rediff.com:
1. Early on, they went and replicated virtually, the complete Yahoo.com look. Directory and news and email and everything. They wanted to be India’s Yahoo…
2. Ebay became big and Rediff invested in their own auction business, an Ebay look alike. Rediff wanted to be India’s Ebay then..
3. The Rediff.com interface was clustered like Yahoo’s or Indiatimes’. And then Google came along and showed what a clean, uncluttered interface can be like. And yes, we saw Rediff turning over into a clean and simple interface. No matter the fact that, where Google was fundamentally ONE big thing, viz. search, and it could offer that in a clean and simple screen, Rediff in fact, was a portal. And a portal needs to show more of its links and cater to users with different kinds of needs.
But then, Rediff wanted to be a Google that time!
4. Then came Facebook time. And after Facebook had probably gone past 300 mn user base or so, and was already the default, Rediff came up with their look-alike social network. Again Rediff now wanted to be a Facebook..
Once more, too little, too late.
5. And now they have done it one more time. In the space of daily deals and group buying, where perhaps, there are 32 players already, and the big daddy of the world, Groupon having come into India too, Rediff now wants people to do their deals on Rediff.
So Rediff now wants to be a Groupon!!
More than anything else, I feel sad.
Rediff.com really had a great opportunity, it was first off the blocks in India, it had a great start, it got the Nasdaq IPO (that’s the only reason its been able to hang on, by the way – the cash in the bank!) in time. It could have been India’s most prolific and default dot com address.
And yet, it chose to be a Yahoo, an Ebay, an Amazon, a Google, a Facebook and now a Groupon..
It NEVER tried to be a Rediff.com of its own!!
What do you think? Any alternate views??
Why One More of the Same Thing?
I come across startups at variety of forums, like TiE, Mentor Edge, and also directly, when people reach out to me.
And it beats me as to how many times, I keep coming across the same (well, similar) business idea!
I am not referring to two entrepreneurs, coincidentally working on the same brilliant idea. I am referring to entrepreneurs working on an idea, where there are multiple dominant players already in place.
Like the 35th Group Buying business.
Ok, irrespective of my personal feelings about Group Buying (and which you can read in this blog, across more than one posts), assuming that it will be a successful model, what is the different thing you want to do, where as a 35th entrant, you still expect to come out successful / leader??
In the world, there may be examples to prove ANY theory.
So one would try and justify their entry by saying that wasn’t Google a late entrant in the search engine market, and did it still not come out on top?
Just the same way, people like to quote Apple as an example in many different arguments (“Apple does not do much of its own Social Media – the users create the buzz for it. Can we also expect that?” for example).
It needs to be understood that Google or Apple or their business models or their marketing strategies have been exceptions rather than the rule. Also that, fundamentally, both (and others of their kind) have a phenomenal product behind them, and even if they were to not do anything, maybe people would queue up outside their doors, with their cheque books open, looking to purchase!
So first of all, every entrepreneur must not think that he is a Google in the making. Without trying to reduce any ambition or aspiration of the entrepreneur, it is necessary to have feet on the ground, while planning the business strategy, and the positioning.
So while I have seen a bunch of Group Buying plans that did not differentiate from the many existing ones (at least in my mind), recently I came across another business model, that was similar to at least 4 other existing players. All 4 are reasonably well established, and this was the 5th one, entering the same space.
Basically a content vertical, largely ad dependent for revenues, significantly demanding to maintain (at least for good quality). The entrepreneur was trying to show me the differences that he had made in his model, vs the other prevalent ones. Even though he may be right, in pointing those out, to me (and I’d be like a typical consumer for his content), I could not spot those differences, without his explanation. And for a content heavy site, a typical user is not going to run over it, with a microscope to see those differences.
Why then, would a consumer change habit and come and read content here, instead of the others which he was familiar with? I was not able to see it. And I told the entrepreneur in as less discouraging a tone, as I possibly could.
Of course, entrepreneurs are optimistic, if anything. All of us are. We want to give it our best shot, we feel we have the way to make this happen, we reckon that all things being the same, WE are that difference! So I am sure he is going on with it, and my best wishes to him too. And in a few years, he could have gone past the incumbents and emerged number 1. Again, I would only wish the best for him.
But my point is for one who is planning a business. Where do you start? Do you look for existing successes, and want to try and do one of the same kind? Or you come up with something entirely new, something different, something that the world has not seen just yet?? But which you recognize, would have value?
It is often easier to look at existing successes, and which is perhaps the reason why we see more me-toos, than original ideas. It takes a different vision, a certain imagination, creativity, and then a significant dare, to get into path breaking new thoughts, new ideas, new businesses. And which is why these are rare.
I urge entrepreneurs to look to being different, being unique. More than being clones.
Especially in an online business.
In an offline business, due to various factors, including geographical relevance, many brands of the same business model, can survive. Perhaps be successful too.
Online, everyone’s just a click away. There is no compelling reason (like geography) that a user will land to your site, even when there is a better site, more known, more popular, already around! Have we found a serious second auction site, after Ebay? NO!! Because Ebay is a click away. Why would anyone go anywhere else?!
Think about it.. being different can be more challenging, but can also be more rewarding!
Inspiration
Sanjay Mehta
Attending a Bar Camp, Startup Saturday and the Entrepreneurship Summit, in the last 3 weeks, took me back to 1997-98 days when we were starting up for the first time, with Homeindia.com, along with few other first-generation dot com entrepreneurs in India.
I can see the same energy now, perhaps only magnified by the changes in the economy over these years, the emergence of India as a country to reckon with, the maturity of the ICT businesses, the far larger familiarity of the technologies for students climbing out of their campuses, and of course, the awareness now, about an ecosystem that can encourage entrepreneurship.
There is another change. Me. With 11 years of hands-on Internet experience, there is a larger “intuitive” feel on the industry, there is beyond the romanticism of the business, a better understanding of business realities, of markets, of revenues and results. As one young participant respectfully pointed out, there is the “gray hair” difference.
This has inspired me to start this new blog. To share my 2 cents worth, on new startups that I see coming up. Based only on information that is in the public domain (or shared by the company in public forums), and not based on any private information that entrepreneurs share with me. With an idea to give some new perspectives. Ultimately the business succeeds because of the entrepreneurs and they need to trust their gut. But “outside” views help sometime. And which is what I strive to provide here. With only one goal in mind: to enable the entrepreneur to SUCCEED!!
