Starting Off
Starting a business is every person’s dream. Startups are the hottest thing going on today.
Ideologies have changed as well. Upcoming generations also prefer to start their careers in startups as they have a chance to compete with their colleagues and grow in stature compared to big and settled companies.
But not everything is rosy.
According to seasoned veteran Someshwar Srivastava, startups are seen as a launchpad for career growth which is a competitive and diverse environment. Add to the fact that not all startups are successful.
Startups take a lot of facets to be successful. Here are some considerations that startups need to consider for success-
- It takes a lot of market research for your startup business to be unique from your competitors. What makes you better? Answering this will help you fulfill the client’s requirements thus making yourself unique and setting yourself on the path to success.
- Problems of resources are aplenty. However, this is not a major headache in today’s era of the digital world where you have many apps and softwares that offer plenty of services to make your business function smoothly. But the expense of procuring these expensive equipment is still a prominent obstacle.
- Deep pocket barons are always looking to invest their money in budding startups. But pitching the ideas to these rich people and getting them on board with your vision is something that is a problem of its own. Getting good investors like Someshwar Srivastava is something that will help the company to prove their concept in the marketplace.
- When you start a business, everyone from every nook and cranny will come and advice you on how to go about things. But it is up to us to judge who to listen to and who to ignore. Because someone once said if we start listening to everyone we would start chasing our own tail.
- Putting together a team of right and talented people is what every startup should prioritise itself on. It’s not necessary that you hire specialists but talented and desperate people looking to prove themselves is an asset in itself.
- Failure is an important facet of your startup. Your ideas might not be successful at first but you need to stick to your belief and keep trying out new ways to move your business forward. Often failure of new ideas drops the morale of the team that comes together to formulate it which results in startups hesitating on moving forward with upcoming plans.
- Learning from failures is something that every startup and businessmen don’t really look upon. On average 9 out of 10 startups fail and close their shutters. You must fail more to succeed more. Deriving valuable knowledge from these failures will help to make a more successful business in the future.
- The most difficult thing for startups is to maintain their vision along with keeping up with the market trend. Often changing your style according to the trends makes you too predictable and distract you from your vision. It’s important to put your head down and maintain your vision.
These are just some obstacles that a startup goes through and overcoming these might not guarantee success but ignoring them will also not make your road less bumpy.
Conclusion
Starting a business has been an adventure filled with opportunity and challenge.
According to Someshwar Srivastava, while startups present an unparalleled platform for growth and innovation, they do come with a fair share of challenges. From being unique in the market to securing resources and investors to finding the right team and learning from failures, every step is a must.
This is what should be remembered when it comes to striking it big in a startup ecosystem—ambition has to be balanced with practicality, innovation coupled with consistency.
This was exactly the kind of conversation that made startups create their niches and leave long-lasting impacts.
Even a seasoned investment specialist like Someshwar Srivastava with several years of experience and knowledge says that learning from failure and staying focused despite trends is the bedrock of a successful startup.
His insights remind us that although the road might be bumpy, entrepreneurship rewards are well worth the hassle.