Wednesday, May 25th, 2016

The Elements of an Indian startup?

Manik Roy | May 25, 2016 3:23 pm Print
One important proposition about a startup is that there is no hard and fast rule or principle in the world about the formation of a startup. The reason is that any fixed rule or principle will never work in this connection
startup: For representational purpose only

The latest buzz in India is to start a new startup. It is just like a unicorn for any entrepreneur mind. Particularly, for the younger generation, they think that it is a great way to become rich and famous quickly. Nevertheless, in the reality, it has another saying. The reason is that you should keep in your mind that a startup is not for the weaker soul and it is for the courageous mind that has patience, tolerance, creativity, and foresight. Therefore, you should prepare yourself before get into your startup dream as well. Moreover, one thing is sure that the concept of Indian startup and the western startup are quite different in their own terms. The reason is that they depend on culture, psychology, attitude and passion as well. Even, you will see that the mechanism of a Western and Indian startup is highly unpredictable from each other. It is possible for the different approaches to their lifestyle and accomplishment.

Ideation

You should keep in your mind that your startup idea is always present in India and you should never look outside India. The reason is that you will do business in India. Therefore, you should coin the concept of your startup according to Indian system. Even, you will observe that Indian society generally mingles with its social threads that are highly elastic in nature and you will never able to torn apart it into pieces. Therefore, in this connection, you should maintain a balance between your imagination and implementation of your startup idea as well.

When you are going to develop your startup idea, then you should follow the principle of three P’s like personalization, practicality and polarity also. One important point you should keep in your mind that your startup idea can implement the curation process of a startup easily. It is observed that Indian startup idea lies on its social daily chores. Because, when you walk on an Indian street, then you will see that a lot of shopkeepers and hawkers are doing business without knowing about the startup jargon. Rather, they do their business according to their social need and demand. Therefore, you have to talk them and interact with them for an important clue about your startup dream as well. One important proposition about a startup is that there is no hard and fast rule or principle in the world about the formation of a startup. The reason is that any fixed rule or principle will never work in this connection. Because, the circumstances will be different and as well as attitude. Rather, it is better to say that a couple of compatibles will make it happens as well. The naming convention is very much important for your startup. Therefore, you have to complete it in this session as well. The proper name of your startup will first reach to your audiences as well. When you are going to coin your startup idea, then you should keep in your mind that your startup should convey a message to the society. Therefore, you will see that your startup will begin to instill in the mind of society.

Communication

In this phase, you should find a suitable partner who will communicate well with your startup dream. Moreover, he or she should understand your expectation and ability well. Otherwise, it will be very much difficult for you to get going in the later stage of your startup. Actually, the selection of startup partner or co-founder is a very much challenging job. Because, first, you have to find his or her name in the entrepreneur world with great caution. The reason is that there is many junkies are moving in the Indian startup world. However, you have to find the right one according to your startup theme as well. It is observed that always pick up the jewel who has fixed focus, patience, intelligence, curious, foresight, adaptability and tolerance. Sometimes, you will observe that a startup always develops communication spectrum, which spread all over its surrounding. Therefore, your co-founder should read this rainbow wisely and get in touch with your startup dream.

Planning

For any startup, planning should consist of three P’s like a possibility, personalization, and productivity as well. It is said that the planning for any startup works like a blood vessel, which carries the aura of startup body. You should know that the planning does not work on the paper alone. Rather, it should work physically on the startup map. It is observed that the planning implementation needs three-tier support like employee, management board and investor. They are the crystalline forms of the startup infrastructure. They will never perform low in the startup unless the reverse situation demands it as well. In this case, your planning should be highly protected for any sudden blow from the outside or the indie also.

Information

For any new startup, you will need lot information for its formation. You have to collect the information from all levels of the business community. The reason is that the information or data should have high-grade or low-grade priority. Moreover, you will able to differentiate the between the good data and the bad data as well.

Scouting

For scouting for the employee is a serious proposition for any new startup. The reason is that you should keep in your mind that scouting for the employee will need deep penetration into the job market. Nevertheless, one thing you should keep in your mind that attitude is the key for any employee in the startup. If the employee does not have the right attitude, then the employee will be useless in the startup as well.

Finance

Initially, small capital is the best way to begin your startup. The reason is that it will give you enough experience as the time passes and you will understand that how much capital should be pumped into your startup also. When you are looking for the investor’s entry into your startup, you should find the right one who is compatible according to your startup theme also.

Location

Generally, the location has a pivot role in the startup. Because it brings the business and its followers. Moreover, you have to select the right location according to your startup theme. You should keep in your mind that every location should have accessibility, affordability, skillful workforce, market and loyal customer.
Therefore, any Indian startup can do the ultimate enigma for the Indian business community in such a way that it may one day be Indian proud.

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