Sandipan Chattopadhyay, explains how startups in India, should have a clear statute which mainly focuses on the development of the company, intersecting with nation’s growth.
Focus on your user’s smiles and your startup will succeed.
Various newly instituted startups are losing their vision in order to compete with their opposition by using glamourous techniques, not having a concrete mandate or entering into popular sectors where revenue can be easily generated.
Many face difficulties and find it hard to overcome their issues which mostly turns into insolvency and dissolution of the company.
Sandipan Chattopadhyay, Founder and Mentor at Xelpmoc Design & Tech and ex-CTO of JustDial, referred to these issues with the current crop of Indian Startups. Sandipan’s own startup solutions company, Xelpmoc, monitors and provides help to startups with their technology and growth plans.
Here are the key points an entrepreneur should know before starting off.
Your focus is what should last long.
Sandipan says that people generally have a tendency to get things done by others. One should be self-dependent, and which is why knowledge and research play important roles. Businesses should stop thinking about the glamour world and easy means of monetary returns. The focus on the actuality of the current situation should be backed by economic, political and cultural issues and the solutions that these enterprises come up with. This is where they show their genuine ability to survive.
Focus on the innovation; make your business an art of creating something so unique that no one has attempted to execute it before. But when you innovate, you should know the value that your innovation holds, and make use of it correctly. A good entrepreneur always respects the capital of his business, without which there will be no formation of an entrepreneurial culture and business development.
There has to be a substantial growth in the core regions of India. An enterprise should be such that it has an impact on people’s lives and seeks a better change. Have a vision that focuses on upgrading people of your country, and allows every person to have knowledge and learnings from your business ethics and services. Provide user-friendly situations to your customers, make them comfortable and teach them something new every time they order a service or product from you. This will largely contribute to making India compete with developed nations of the world. And it will be your approach and understanding of the business that will make it happen.
Forecasting your venture is a necessity.
Sandipan asks, five years from now, where does your business stand? This should be the focal point for any business. The analysis of internal and external environment, setting up corporate objectives, framing a strategy, reviewing your strategy performance, are all an integral part of how your business works. Therefore, you need to know your business so well that it survives, and not dissolve.
Also, don’t make a startup carry out a business, but make it as a small contribution to your nation’s development.
Believe in a better tomorrow, a better India, and notice the change within you. You will be different and willing to work twice more than you are working right now.
What should your startup really be like?
A startup has to look at innovation and customer satisfaction and not for an easy way out. The problem right now is that one likes to hide behind the papers and a lot of hypocrisy goes around that. Your startup should have a vision, to respect its business and feel equal to its opponents. The moment an entrepreneur finds himself leading, the sense of superiority takes over. That obviously should not happen. Every business has to find a way to work equally hard so as to compete and survive. That is when the market grows and in turn, helps India prosper.
Just because you’re the best, does not mean you can’t be better.
Another issue that has lately arrived is that we have everything, yet nothing. Let’s take an example. India has a number of business startups which include furnishing, handicrafts, events, concerts, social networks etc. Do we know about any startup that has its working into agriculture, or arms and tractor spare parts? No, we hardly do and this is where the problem is.
There are a few startups wanting to get into these sectors, but don’t have the requisite resources. On a brighter side, there are some who already have entered these fields and are helping to get the focus back. Helping our nation walk on the path to success.
Your startup needs to have a good definition.
Your startup defines you. It’s what you want to do, and what you are good at. There are no solo geniuses in today’s world. You have to be a good team player in a brilliant team in order to achieve what you aspire to.
A good entrepreneur should be like an orchestra conductor. A good conductor can make instant changes to smoothly tide over a mistake, skillfully camouflaging anything that could affect the listening pleasure of his orchestra’s performance.
As an entrepreneur, you should be able to adapt to any circumstance with patience and smart decision making.
What should your startup ‘ignore’ in order to sustain?
Startups face immense stress because of rigid contracts, duties and liabilities. Many of these enterprises break up due to clashes between the co-founders, high workload and work divisions. Major psychological issues like egoistic partners, or economical issues like revenue sharing become real problems in business ventures. If a better understanding is achieved, an equal amount of workload is divided and revenue management is handled properly, such issues can be avoided.
Investment is another perceived problem. This factor, shouldn’t count if your business idea is well thought out and researched upon. A sound business idea will always have investors keen on putting in their money.
The idea of your startup should be such that it solves the fundamental problems faced by the country. Don’t start an enterprise for fashion, but for passion. Don’t start it just to sell the business off, but to sell your products off.
As an exception to the above trend. JustDial has gone to considerable lengths to include every sphere of business that the country has to offer, no matter its economic size.
Sandipan mentions that you must ‘de-glamourize your venture and focus on making it factual, this will be the greatest differentiator.
Why is there no startup that focuses on the reality?
How the people of the nation think and what would be beneficial for them? We as entrepreneurs, as citizens should give back to the nation what it deserves.-services for optimum utilisation of the resources and updating your user constantly. Don’t treat your users as your customers, try to be like one of them and fulfil their desires, you will realise the difference you’re making.
Do things that you can tell your kids about. Do something that is timeless, something that you are proud of, there’s always an opportunity.
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