Startups are something that we are never sure of and have got no idea whether it is going to succeed or fail. Often the startups go on to become names like Paytm and Zomato while there are many names that we have never heard of while a few fail even before they are launched. It is important to find out ways that can be used in order to have a stable startup. In India the culture of startups has been growing way to complex and the competition is very high. There are planned cities that are excelling in startups. These have made competition stiff and new entry of firms in different industries has become difficult. It is disheartening to see your startup fail as the startup ideas are said to be your baby. Often the entrepreneurs are emotionally attached to the business venture. Here are some of the ways that can be used to have a startup and protect it from the market uncertainties. The point that is mentioned below is not a guarantee but suggestions that, if applied, will be leading to better results. These points have been approved by many business consultants. Let us go through those points: Idea When you are thinking to start a business make sure you are in love with the idea. You cannot think about something day in and day out if you are not crazy about it. The idea that you are going to work on must also be feasible. Thinking something out of the box does not mean that you are supposed to think something outrageous that does not fit in the market. The idea must have market relevance and should be appealing to the consumers. This will include market survey and suggestions. Technology Another major determinant of supporting the startup is that there should be adequate involvement of technology. Technology is something that gets in involved in the operations no matter how much traditional you go. Well, the more traditional you go, the fewer consumers are going to know you. Here the technology would include using the latest survey methods, marketing methods, distribution, advertising and feedback method. Team This is the base of a successful operation. History has it as proof that all great companies have succeeded with the help of a great team. Team must not be inclusion of anybody at random. Each team player must have a role to play. Each one should be in possession of an expertise that is to be used in laying the foundation of the startup. Hiring After the team is successful in laying the foundation the process of hiring has to be taken care of. Hiring may not occur very soon if you have a team that can initially divide the work well but as the company grows there will be need of hiring. Understand the hiring need well and prepare a job description that eliminates unnecessary walking in of candidates. Funding One golden rule of getting funding is that you need not run after the investors. If your products are good and idea is worth taking a risk then there is going to be plenty of funding. The investors keep looking for reliable startups.
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AuthorI'm a professional business consultant. Starting entrepreneurship at a very young age came up with loads of worries and obstacles. Burnt my fingers with few abrupt attempts but gradually optimized my skills by learning from mistakes. Today, I help businessmen across India to find their ideal consultant according to the business goals. I keep on trying to incorporate cutting-edge technology in consulting business backed with effective feasibility analysis. ArchivesCategories |