Connecting to Beablebone

[hiren panchasara]

I found one of these:
http://www.amazon.com/gp/product/B006JKNWLE/ref=oh_details_o06_s00_i00?ie=UTF8&psc=1

And I've connected it to laptop as shown in:
http://www.strugglingcoder.info/pics/bb1.jpg
and on beaglebone as shown in: http://www.strugglingcoder.info/pics/bb2.jpg

As per the schematic info I derived:
Pin 1: GND
Pin 4: RX
Pin 5: TX

I can still not see anything after connecting to "cu -l cuaU0".

Am I still missing something?

Cheers,
Hiren