Tuesday, November 15, 2016

What makes a startup successful?

How to make a startup successful
These methods may not make a startup successful but it will help startups to start their path to success.
  • TeamWork - Doing a business is just like a sport which needs teamwork. A startup can’t be successful until every member of team work together.
  • Customer service - A startup or business is all about a customer service. If a startup is not fulfilling the need of their customers then their graph may decrease and they may lose credibility.
  • Give a solution not problem - Already there are a lot of problems in this world and people only follow them who can solve their problem.
  • Reduce the gap - Just take an example of the recent condition of India’s monetisation policy.
          - Everyone facing lack of money and in this situation digital wallet companies are reducing the gap.
          - Next, when Pokemon Go Game launched people found difficulty in finding pokemon so developers wrote a script just to find the pokemon in the reason.See this is called reducing the gap. 
Problem - Gap = Solution

  • Best ROI (return on investment) - Now you have a solution for all and you that solution going to be a huge success and everything is for customers but wait, do you customer is getting best ROI (return on investment) from your solution. You need to make sure that every customer is getting the return to what they are investing. And if you are successfully returning the best then it will not only help your company in sales but will also increase your company’s credibility.
  • Discipline - Every work need discipline. If you are providing a solution and reducing the gap then you must be disciplined about the solution. You need to provide a solution to the problems at every instant.
  • Understand your niche - If you are developing a product to solve a particular problem then you need to target your niche because targeting everyone just to make it reachable to everyone doesn’t help you to increase your sale.
  • A startup needs a leader, not a boss - Every startup start has group leader but it depends whether he is leader, or a boss. Every startup needs a vision and only a leader can lead with a big vision.
  • Sustainable business model - For a startup it is very necessary that their business model must be sustainable. They can’t spend money on the product which is not cost effective.
  • Work for your team and they will work for you - If you want your team to work their best then you have to work for them, how? Give them everything they want for the work. Don’t let them feel that they are nothing. Make them feel special, do things which make them happy and excite them to work.
  • See the future - A big dream, with determination and dedication and a perfect future vision is the base of every business. So just keep in my that you are here with a dream and you must have a vision for it.

Go out and rule your niche with solution.

Urban pathshala would like to listen your experience. Please share with us.

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