2008 has been an historic year on many counts everything has Changed.... the business and funding environment has faced the maximum impact. This dynamic environment calls for smart entrepreneurs to see and do many things in 2009 in a much different way. Therefore I have put together a list of Resolutions which every Startup business should implement

1. Start thinking of Original Ideas and Products and not mere copies or better versions of Facebook, Twitter or Digg. The time for copycat products are over and no one is funding them anymore

2. Plan a business with a minimum of 18 to 24 months of no external investment plan. This is the harsh reality the funds available in the market are scarce and the valuations are at rock bottom. Best is to plan a business where you can sustain the same through internal funding, friends or family, angels etc.

3. Focus on Non-Advertising revenues most start-ups specially on the internet side have only one major line item in revenue which is Advertising. The unfortunate reality is the first thing to get cut in a downturn is the advertising budget and the biggest impact this has is on the online side. Besides the CPM rates are falling sharply. Business models solely dependent on ad-revenues are going to have a tough time sustaining.

4. Explore new sectors.... Internet is not the only place where we need start-ups. Think of Security, Media, Retail, Healthcare etc.

5. Ensure that your business in not another Sweatshop with outsourcing as its core business... there are enough of them already in India and their business is in trouble... besides there is no major long term value in such businesses

6. Think Local and beyond America Stop thinking of business and products targeting the American customer. Uncle Sam is not funding them anymore with mindless debt, focus on domestic markets and emerging markets this is where the big spending is going to happen

7. Network: Promise yourself to meet in person at least 1 interesting person every week. This could be an investor, another entrepreneur, a journalist, a senior employee of a company and now a days networking can happen very fast of the number of social networking sites like LinkedIn and Facebook. A lot of business and ideas are generated and formed when you meet interesting people.

8. Attend all key industry events and find out a way to get into them for free :-)

9. For the next 12 months don’t meet any VC for funding. Every time they ask say you are doing well and dont need funding for now. VC follow companies who say they don’t need their money :-)

10. Support a cause as a company or an Individual. There are many causes in the society today around multiple issues terrorism, education, charity, sports etc. find a cause and support it whole heartedly. Many times you get the most important returns and contacts from the least expected places. Do these activities with absolutely no expectation. I bet you will be surprised.

11. Change your look - if you were used to wearing Ties and Suites shift to t-shirt and jeans and if you were already into T-Shirt and Jeans try to be a little more formal. Change your hair style, change the frame of your glasses. Give yourself a new look... it has somehow always help me :-)

wishing all the start-ups and start-up entrepreneurs a very happy and prosperous 2009388857