The Power of Startups
Not an idea alone! Since the government has encouraged startup businesses in the country, reports confirm that it is on the path of creating an army of small entrepreneurs meeting the needs of society, moving on the wheels of technology. A startup is nothing but the power of an idea with excellent execution skills and an entrepreneurial mindset. The factors of success and failure can be easily identified in startup businesses.
The Changing Business Landscape
It is the time when every business is moving towards tech business, and every customer is looking for solutions to all their problems through technology only. Startup business entrepreneurs should understand this changing culture and see it as an opportunity. Startups are not limited only to young, dynamic, rich, resourceful, and highly qualified individuals. They can be started by anybody at any age.
Challenges in Startup Culture
Despite the rising popularity of entrepreneurship, startup culture brings its own unique set of challenges and problems that should be addressed properly and timely. The question arises: why do most startups fail in their early stages and disappear? The reasons can be multilayered and multidimensional. But when a startup is not ahead of its time, does not think of the future needs of society in the right perspective, attempts to run fast in proportion to its economic fuel capacity, does not align its people's efforts with customers' satisfaction, and finally does not earn credibility and trust, it is bound to fail sooner or later.
Building a Successful Startup
To build a business, a startup entrepreneur must understand that at the initial stage, they are both the doer and the decision-maker. They have to be conservative in financial transactions to maintain sustainability. At the initial stage, it is time for establishing a USP, building momentum, and staying focused on sales with a sharp eye on costs versus revenues. They must have effective control over internal as well as external forces to pave the way for growth. The initial stage is very crucial in terms of people engagement. A startup entrepreneur has to look for people with a high sense of ownership, accountability, and mutual trust.
Thriving on Limited Resources
Thriving on limited resources is a challenging task. Because of limited resources, a startup entrepreneur has to ensure that with so many things to be done at one time single-handedly by wearing multiple hats, they need not be reactive and bounce between competing priorities, lowering the business momentum. A good product or service can fail without a collaborative work culture, clear business goals, and a clear method for teaching employees how to put their soul into the business.
Inspiring Stories from Entrepreneurs
September 2017 month's cover story is all about hands-on stories from startup entrepreneurs who have made their own way, met the challenges, and ultimately succeeded along with studies, which may be very inspiring and useful to all, providing a good read. If you like it, let us know. If not, well, let us know that too. Happy Reading!
From India, Delhi
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181Not an idea alone! Since the government has encouraged startup businesses in the country, reports confirm that it is on the path of creating an army of small entrepreneurs meeting the needs of society, moving on the wheels of technology. A startup is nothing but the power of an idea with excellent execution skills and an entrepreneurial mindset. The factors of success and failure can be easily identified in startup businesses.
The Changing Business Landscape
It is the time when every business is moving towards tech business, and every customer is looking for solutions to all their problems through technology only. Startup business entrepreneurs should understand this changing culture and see it as an opportunity. Startups are not limited only to young, dynamic, rich, resourceful, and highly qualified individuals. They can be started by anybody at any age.
Challenges in Startup Culture
Despite the rising popularity of entrepreneurship, startup culture brings its own unique set of challenges and problems that should be addressed properly and timely. The question arises: why do most startups fail in their early stages and disappear? The reasons can be multilayered and multidimensional. But when a startup is not ahead of its time, does not think of the future needs of society in the right perspective, attempts to run fast in proportion to its economic fuel capacity, does not align its people's efforts with customers' satisfaction, and finally does not earn credibility and trust, it is bound to fail sooner or later.
Building a Successful Startup
To build a business, a startup entrepreneur must understand that at the initial stage, they are both the doer and the decision-maker. They have to be conservative in financial transactions to maintain sustainability. At the initial stage, it is time for establishing a USP, building momentum, and staying focused on sales with a sharp eye on costs versus revenues. They must have effective control over internal as well as external forces to pave the way for growth. The initial stage is very crucial in terms of people engagement. A startup entrepreneur has to look for people with a high sense of ownership, accountability, and mutual trust.
Thriving on Limited Resources
Thriving on limited resources is a challenging task. Because of limited resources, a startup entrepreneur has to ensure that with so many things to be done at one time single-handedly by wearing multiple hats, they need not be reactive and bounce between competing priorities, lowering the business momentum. A good product or service can fail without a collaborative work culture, clear business goals, and a clear method for teaching employees how to put their soul into the business.
Inspiring Stories from Entrepreneurs
September 2017 month's cover story is all about hands-on stories from startup entrepreneurs who have made their own way, met the challenges, and ultimately succeeded along with studies, which may be very inspiring and useful to all, providing a good read. If you like it, let us know. If not, well, let us know that too. Happy Reading!
From India, Delhi
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