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To-do list for your startup success

The current government analyzed that the only job is not the solution, we need to develop skill-based entrepreneurship system.


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Tealfeed Guest Blog

3 years ago | 3 min read

Post-1991 since the introduction of new “Industrial policy”, the Indian business environment has seen northwards shift. The same decade India was attracted to the information technology revolution.  And finally, the most awaited revolutionary change was adopted by India in 2014, where everyone started moving towards starting startups.

India a land of rich and diverse history, religion, culture, and geography always had been a great place of opportunities. The Indian yesteryear’s education system always focused on creating opportunities for everyone by developing skills and knowledge base. Post-1835, “Indian education reforms” introduced by Lord Macaulay, we Indians have always been directed towards being job oriented and never were given guidance for developing entrepreneurship.

The current government analyzed that the only job is not the solution, we need to develop skill-based entrepreneurship system. Thus a new environment of entrepreneurship and startups was initiated by the government.

Today everyone is attracted and inclined towards starting a startup to fulfill their dreams. Especially the young generation referred to as the millennial, are using their creativity and innovation to bring something new and unique in the business environment.

Startup India is a great initiative for providing opportunity and platform as well as funds to the young entrepreneurs to create opportunities for others and boost the economy. But as it is said that every coin has two sides, every opportunity also has two side pros and cons.

Do Visit: http://www.startupindia.gov.in

Startup promoters are the one who has the guts to take the risk and implement the ideas into business models. But not everyone succeeds in implementing the ideas into a sustainable business system.

AS PER MY EXPERIENCE AND KNOWLEDGE OF BUSINESS, A PROMOTER SHOULD FOLLOW THE FOLLOWING STRUCTURE IN THE STARTUP ENVIRONMENT:-
  1. Are you fantasizing doing business or you actually want to do the business?
  2. If you actually want to do the business, decide in which field you want to succeed?
  3. Find a problem and that problem should be of the masses. Why I am focusing on the problems of Masses? Because, if you get to the masses definitely your business will be known across the length and breadth of the country. And thus your business, volume, sales, profit, everything will be on a mass scale.
  4. Find a sustainable solution to the problem.
  5. Research the environment of that particular business you are thinking of. Do research every option, government initiatives, market research, etc. of that business.
  6. Formulate the business idea on paper covering every aspect, i.e., past present and future.
  7. The most important aspect is the fund for your business. While finding funds keep in mind that your decision power should not be dissolved. Else you will be out of your own business in the future.
  8. Collect every resource and team required for making your business a success.
  9. Implement the business idea in real business as soon as possible or else someone else will Steal that idea and implement it.
  10. Always measure evaluate and control the decisions, the gaps between the formulation and implementation and most important the finance aspect. Don’t be afraid of reviewing & upgrading your decisions in the future.

Starting a business is the easiest part, but running the business ongoing concern is very difficult. But difficulties are always a part of building gigantic businesses. Startups are not for people with infinitesimal mindset. We need to broaden our mind as well as the business for the better being and welfare of the society and the promoters as well.

So go search for a problem which you want to solve and sell that solution to society. Nobody can stop you growing and becoming a catalyst of growth for the economy, the country and the startup infrastructure.

In the next article, we will discuss the government initiatives for developing the startup environment and infrastructure stay connected and till then create a business for the betterment of everyone.

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