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There are many people who dream to start a successful startup but very few of them take action towards their dream. Congratulations, you are one of them. In this following sections, you will find out about Startups, why they fail and how can you succeed. Happy learning.
A startup is a young company founded by one or more entrepreneurs to develop a unique product or service and bring it to market. By its nature, the typical startup tends to be a shoestring operation, with initial funding from the founders or their friends and families.
By AMY FONTINELLE, Investopedia.com.
All over the world, the governments and various private organisations are encouraging more and more students/people to start their own ventures. In India, Government of India, has come of various programs to encourage budding startup-ers. Prime Minister, Shri Narendra Modi, has given a clarion call of being "Atma Nirbhar" meaning self dependent and starting a startup is a right step towards it. Government of India has a special website dedicated to startup namely www.startupinida.gov.in. In its Action Plan dtd 16th January 2016, Government of India has defined Startup as "Startup means an entity, incorporated or registered in India not prior to five years, with annual turnover not exceeding INR 25 crores in any preceding financial year, working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property. The said Action Plan has treasure of information like information of various schemes etc. The same can be downloaded from https://www.startupindia.gov.in/content/dam/invest-india/Templates/public/Action__Plan.pdf
There is a popular saying that 90% of Startups shut their business within one year of their commencement. Do you know what are the reasons why startup fails? Let us analyse some of the common reasons:-
1. Proper Knowledge:- Passion is important but what is more required is proper indepth knowledge. Primary research is critical, whatever it takes. Knowledge of what you offer is ok but you need to have knowledge of what your customer wants. All your research should revolve around customers. Do face to face calls, physical meetings or phone call, do whatever it takes, but you need to find out what your customer wants vis-a -vis what you have in your basket.
2. Finance :- Finance is very critical to the success of startups. You need finance at each and every stage of your startup. Some startups have limited availability of finance and fail to rise again after committing some initial mistakes. Every mistakes brings with an opportunity but one must have the mindset to learn and money to seek support of experts. Lack of money creates a mindset where after initial setback, the entrepreneur does not take steps to overcome the hurdles.
Product Specification :- Lack of well defined and written specification of the product.
3. Lack of Well defined Core of what you are offering.
4. Lack of well defined Sales Process.
5. Absence of well defined Business model and your money making model.
6. Ignorance about how to set up pricing framework.
7. Failure to calculate the Cost of Customer Acquisition.
8. Starting the business on your assumption and not testing the assumptions and failure to build the minimum viable product on the basis of customer research.
9. Launching of product without undertaking any of the above steps. Most of the startups launch their product first without going through the above steps and finally failing.
10. Finding a founding team:- Startup is not a lonely journey and therefore, you will have to find a founding team.
Yes before starting the startup, invest some time and money on learning and seeking guidance from experts as to how to start a startup.
We, at Badabusiness, the EdTech of Dr. Vivek Bindra, have created an online course specially for the success of startups namely "How to Start a Startup?".
In the course titled "How to Start a Startup?" we provide online course with video and reading material covering 24 sequential steps, which if you will implement in your business, then your startup will definitely become a successful startup.
There is another myth that "90% of startups fail within their first year of establishment". This happens because entrepreneurs feel very enthusiastic and they miss these 24 steps mentioned in the course.
Dont miss the important 24 steps, Subscribe to the "How to start a startup ?" online program.
Yes, like we emphasize, Our customer is King and we go extramile to give powerful content to the Customers. We did 3 different webinars on different subjects like Business Strategies, Selling Techniques and were successful in getting our name in Guinness Book Of World Records. Such powerful are our contents.
The above statement was made not to boast our achievements but to give you an idea about how seriously we research and develop our contents.
The 24 steps to any successful startups and which we explain in detail in our course are as follows:-
In addition to the Badabusiness Professors like Paritosh Sharma, Sanjay Kathuria and Ms. Samriti Grover, you also get to learn practical sharings from Industry leaders who had walked the way earlier. We have six billionaire professors of Bada Business, who will tell you how to start a start up. They are as follows:-
These Successful leaders will share their knowledge and personal experience on how they started their startups.
Learn from the leaders who had started a successful Startups.
When you enroll for "How to Start a Startup" course, you get 25 video lessons covering 24 steps as outlined above, plus 6 Video lessons, one each from the Billionaire professors like Acharya Balkrishna, Chairman Patanjali, Rahul Narvekar-India Angel Fund, Anuradha Agarwal-Multibhashi, Samir Sathe- Wadhwani Foundation, Anand Kumar- Super30, Yashish Dahiya-Policy Bazaar. Each video is nicely explained in Hindi for easy understand-ability and background slides in English. Each video comes with a Reading material in English to imbibe the video learnings. And each video also have a self Assessment test to test your understanding of the explained concepts.
Join now, Dont let your ignorance hamper success of your Startup. Get the most exhaustive and practical knowledge from the stable of Badabusiness as to how to Start a Start up. Wish you all the success in your venture. The online course is available now at an offer price of Rs. 19500/- plus GST only and the prices may be revised soon. Enquire now call 9859854443 or fill the details below
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