How To Succeed In A Start-Up

Entrepreneurship! Business! Idea! Start-Ups! If you ask me what glows the most in 2k16, then here is my answer. The above four words.  An interesting study reveals that for every 10 students in Indian Engineering colleges, 5 of them has a goal to settle down with a job after their graduation, 2 of them has a start-up  idea(which they think, is the most revolutionary thing a human brain can think), while the rest  2 continuously fluctuates among the above two categories(frankly! I belong to the third category).

“Entrepreneurship” and “Start-Ups” succeeded to make their stand in the “Top 500 keywords” searched on Google from August 2015 to December 2015 (in India)—another interesting fact revealed. If you are having an idea and don’t know how to proceed towards the first stair of your dream, then this is the post especially for you.

Each year many start-ups get launched. Some of them survive others not. Therefore, in order to reach great heights in market, you must know the factors due to which a start-up fails. Well said—“It is always better to know what not to do instead of what to do.”There may be infinite things to be done but a very few things that ought not to be done. It’s always clever to use others mistakes as the weapon for your success. So here are some points you must consider:

1. Try to case-study the failure start-ups. Find out the faults in their execution plan or idea. Every start-up intakes a lot of efforts, energy, dedication and discipline. This way is not as easy as it seems to be. Always keep yourself motivated. Try to learn how to work under pressure. You MAY succeed only if you are passionate about your idea. Never think failure will let you down. Failure has its own flavor, do not hesitate to taste it. I guarantee failure will give you the nicest experience of your life. Rather than experience failure provides many other perks that you might not have considered yet. Now these days companies hire the CEO’s and Founders of the failed start-ups to ensure their own success. Ya! I already discussed about “using others failure as the weapon for your success”. So it’s this way or that, but you will surely be paid for your hard efforts.

2. A hope to launch a start-up in your early 20’s is completely justified. You are never too small to play with this baby-doll. But you have to be very sure and firm for whatever you are doing. In such cases you always have to keep consulting your elders and experts about the feasibility of your idea. Now here is the biggest misconception—“What if somebody steals my idea?” Here is your answer—either get it patented or do not ever worry about this thought. Guys! Let me tell you, you can never own an idea. There may be 100s or 1000s who may have the similar thoughts. What makes the difference is—your way of execution. To think and to determine-- is the easiest step of a start-up. Get it executed in a smooth way is the REAL part. Always remember, it’s you not the idea that has the potential to shake the market. Therefore unafraid, you can always disclose the elementary outlines of your plan with anybody.


3. Remember, whoever you are, you cannot make a billion dollar company alone (unless you are “Rajnikant” sir). So try to involve someone with you, who is as passionate about the idea, as you are. Include some loyal experts in your Board of Governance. A kingdom never grows by the power of its army, rather it’s the wit of ministers that leads to development. Try to make your execution as concrete as possible. Consider each and every possible corner. Plan for 20 days and act once.

4. Ensure the demand of your product in market. Many start-ups collapsed because they were way ahead of market demand. Try to target a particular sector of market to start with. Discuss the outlines of your product with your potential customers timely.

5. If you are about to launch a start-up, it may not be possible for you to provide funding on your own. Try to contact some ”Angel investors”. Always be loyal and transparent with your investors, so you can always keep your eyes up in front of them, even in a case of failure.

6. The rate of hiring employees plays a crucial and complicated role in development of a start-up. If the rate is too high or too low, it may result in a collapse. Appoint highly energetic staff, and always be true with them. They must be given the right to know actual consequences of their efforts.  

To encourage talents, Honorable Prime-minister has launched an initiative “Make in India”. Policies under Make in India initiative are :

1. Improve the ease of doing business in India.

2. The government has decided to improve and protect intellectual property rights of innovators and creators by upgrading state-of-art-technology. The various types of IPR:

• Patent: A patent is granted to a new product in the industry.
• Trade Mark: A design, label, heading, sign, word or letter, which is representation of the goods or service.
• Copyrights: A right given to creators of literary, dramatic, musical and artistic works.

3. The government has allowed 100% Foreign Direct Investment in all sectors except Space,Defence and News-media.

So Guys! This is the time you hit the bar. Develop yourselves to develop the Nation. JAI HIND, JAI BHARAT.
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