Tag: startups success

Someshwar Srivastava - Startups success

Obstacles all startups jump through for success

Starting a business is every person’s dream. Startups are the hottest thing going 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 as compared to big and settled companies where probably they might get lost in the crowd. 

But not everything is rosy. Startups seen as a launchpad for career growth is a competitive and diverse environment. Add to the fact that not all startups are successful. 

It takes a lot of facets for startups 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 fulfil the client’s requirements thus making yourself unique and set 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 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 give you advice on how to go about things. But it is upto 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 make 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.