Dijiwan Story

You go to Google & type Dijiwan. Hit Enter and you will get a ready made analysis of how Dijiwan failed & that too written by an Ex Dijiwanian.

A typical timeline for Dijiwan  journey could be summed up as follows:

dijiwan

1. Dijiwan Project got kick start in Sept 2010.

2. Dijiwan Start up got started around Sept 2011.

3. In Jan 2012, a funding of Euro 0.5 Million was raised from French investors for business development.

4. Six month down the line, in July 2012, company started to find it difficult to clear paychecks of its employees.

5. Company requested for bankruptcy protection in Sept 2012.

Let us analyze step by step Dijiwan business model-

– They offered a product which was related to mining and mapping networks of web content. Innovation wise product was fine.

-Target customers were marketing companies, companies in need for an online strategy or improving their online strategy.

-Dijiwan had a charismatic leader who had control over hiring of employees, contracts, accountancy & business.

-They had a good enough team: 2 marketing officers, 2 business developers, 2 strategy analyst, 1 researcher contractor & 4 developers.

– Basic aim was to get a decent funding and then to utilize the same for product development & for attracting future customers.

And because of all the goodness associated with them, Dijiwanian were able to raise 0.5M Euro from French investors.

Rising so fast already, what acted against Dijiwan’s and what made it a doomed start up?

-They made a nice product but never cared about adding additional feature into it to attract more customers.

-Big customers needed time to evaluate Dijiwans credibility. Dijiwans had little time to establish themselves in the market.

-Dijiwans offered they free work & discounts to convince their customers and that too on the shallow promise of getting paid contracts afterwards. Those contracts never happened.

-Its charismatic leader had little control over product development. Hence he never knew what he was actually selling. Hence he was neither convincing nor able to sell his product.

-No contract signing despite various rounds of negotiation & trips to customers. No regular follow ups with hot customers: Basically ignoring the problem.

-Reckless expenses: 600K Euro burnt in 6 months!

Getting a startup engine fired one need discipline. And discipline in terms of everything.

-A product that is able to solve complex problems of life in a simple way.

-An aggressive Leader, who knows about his product & who is able to convince customers about the usefulness of product.

-A dedicated team, that looks for solution of problems rather than ignoring them.

 

Wattage – Customized Hardware

Brilliant Startup Concept

Wattage was an online store where people could buy online electronic devices, with interesting fact that the users could design the parts themselves. Wattage would manufacture that device with the user designed pattern and ship it to the address.

  • All the electronics products would be created using Wattage Online tools. The enclosures were locally made using laser cutters and 3D printers, and inside was a family of modular electronic components.
  • Wattage imagined people creating all sorts of interesting electronics products like podcast-streaming radios, or tactile games. Home automation gadgets, and music gizmos and many more.
  • Wattage was a platform to lower the barrier of entry so that people could express themselves through hardware, regardless of their technical sophistication.
Wattage

When Shit happened !!

  • Start Up – Initiator 15%
  • Startup – Planning 42%
  • Startup – Execution 76%
  • Startup – Monitoring & Control 78%
  • Startup – Closure Strategy 53%
  • Startup – Other Shits 39%

Why Shit Happened !!

%

Business Model

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Management

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Finance

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Other Factors

How Shit Could Be Prevented !!

1. Better Business Model :- Better market research and initial trials to get the feel of customer actual need.

2. Better Product :- A product with better and simple user interface would have created more impact.

3. Better Man Power :- Dedicated team/professionals for specific tasks .

4. Better Planning:- Proper planning on each vertical : scope, schedule, technology, sales etc.

5. Better Finance Management:- Utilization of funds after getting consumer feedback.

6. Other Improvements:- Reaching local consumers more actively.

May the “Wattage” rest in peace.. !!

Gugo-Social Intelligence Platform

Brilliant Startup Concept

GuGo was a group-centric social intelligence platform where one could interact with friends or family in a fresh and private way.

  • As well as having discounts from all deal sites efficiently arranged and accessible according to one’s Preferential Data, there would also be a special section showcasing GuGo’s very own free deals. Local events of similar interest would also be available with the click of a button. For each deal or event participated in, points would be received that could then be redeemed for monetary rewards.
  • GuGo was being designed to build a better bridge between people and corporations, charities, colleges & universities, social & volunteer groups, and all other types of organizations by bringing all of their information and current events into one place.
  • The GuGo experience would maximize one’s time spent communicating with others in an enriching, fun, and rewarding way. This level of human interaction, social well being, and happiness was what GuGo was all about!

When Shit happened !!

  • Start Up – Initiator 12%
  • Startup – Planning 68%
  • Startup – Execution 84%
  • Startup – Monitoring & Control 78%
  • Startup – Closure Strategy 54%
  • Startup – Other Shits 73%

Why Shit Happened !!

%

Business Model

%

Management

%

Finance

%

Other Factors

How Shit Could Be Prevented !!

1. Better Business Model :- Better market research and proper understanding of targeted consumer need.

2. Better Product :- Making the product App based would have created a greater impact.

3. Better Man Power :- Dedicated team/personnel for specific tasks along with coherent co-founders.

4. Better Planning:- Proper planning on each vertical : scope, schedule, technology, sales etc.

5. Better Finance Management:- Utilization of money on technical end more, rather than legal work.

6. Other Improvements:- Building strong and dedicated team, reaching consumer effectively.

May the “GuGo” rest in peace.. !!

Rate My Speech

Brilliant Startup Concept

Rate my speech was a Lightweight Learning Management System for trainers and coaches.

This would have enabled training providers to
– Improve their current offering and differentiate
– Bring their services online, and scale easier
– Provide more practice & feedback opportunities

Initial capabilities included:
– Create a classroom for trainees, where they could cooperate
– Share course material, assign tasks, homework
– Let your trainees cooperate online

Initial focus was on public speaking and communication training.

When Shit happened !!

  • Start Up – Initiator 93%
  • Startup – Planning 89%
  • Startup – Execution 79%
  • Startup – Monitoring & Control 93%
  • Startup – Closure Strategy 72%
  • Startup – Other Shits 48%

Why Shit Happened !!

%

Business Model

%

Management

%

Finance

%

Other Factors

How Shit Could Be Prevented !!

1. Better Business Model :- Better market research and proper understanding of targeted consumer need

2. Better Product :- App based product that gives analysis to users based on predefined parameters. Video upload and feedback is just like sharing on youtube and wait for the response. Nobody gives a damn to preparation before any public speech.

3. Better Man Power :- Dedicated team/personnel for specific tasks .

4. Better Planning:- Proper planning on each vertical of management.

5. Better Finance Management:- Utilization of capital on technology would have saved the Rate My Speech.

6. Other Improvements:- Reaching consumers more actively.

May the startup “Rate My Speech” rest in peace.. !!

Fuckedup is a phrase that captures all the emotions associated with the startup journey.

If no concept clicks in your mind, you feel frustrated. If you are not able to manage a proper team for your startup, you feel irritated. If funds, revenue, expansion etc don’t take place as per planning and expectation, you feel infuriated.

To keep you away from all these feeling, FS is continuously providing you to the best guidelines, practices and market trends. Please share your feedback at contact@fuckedupstartups.com