Management HR "I like to work in a startup company".What is the Real Meaning of this Statement?

“Do IT, DUDE!”?You might come across these statements from youngsters. I like to work in a startup company; I am a startup enthusiast, life should be of some challenge, and several phrases to describe their attempt not to go for a formal big-sized company. You could be one among them. This article is for people like you.

Why do I like to work in a startup company?

A.??Benefits

B.??Challenge

C.??Income Pattern [ Salary + Perks + shares]

Then,

What is a Startup Company?

A startup company (startup or start-up) is an entrepreneurial venture which is typically a newly emerged, fast-growing business that aims to meet a marketplace need by developing or offering an innovative product, process or service.

Why did I start a Startup Company?

1.???My Will

2.???My urge to achieve[Ed, Ego, Esteem]

3.???My Environment (Government / Industry / Family Support)

Government / Industry / Family Support

1.???Start-ups will be exempted from paying income tax on their income for the first 3 years

2.???80% rebate on filing a patent application.

3.???Fast track mechanism for patent applications

4.???Exemption of tax on the capital gain. When a person invests their wealth, then they will get an exemption from capital gains tax.

5. the Mobile app will be launched on April 01, 2016, enabling start-ups to register within a day. The app will have a small application form for registration.

6.???Web portal will be launched on April 01, 2016, for clearances, approvals, and registrations

7.???Compliance regime based on self-certification

8.???No inspection for 3 years of start-up businesses in respect of labour, environment law compliance post-self-certification

9.???Easier norms for start-ups to exit within 90 days. Bill will be introduced in the parliament.

10. Relaxed norms of public procurement for start-ups. There would be no requirement for turnover or experience.

11. Government will set up a fund with an initial corpus of Rs. 2, 500 crores and a total corpus of Rs. 10, 000 crore over a period of 4 years

and

A hub for startup India will be started with a single point of contact.

Why did the Startup Company fail?

Remember these golden rules:

1.???You cannot succeed without first surviving.

2.???FAIL when you are very Tiny and succeed when you are Big

Beware!

The lack of understanding of these factors could lead to failure.

1.?Remember Success is not only funding success

2. Know how to start from the scratch

3. Know how to position your firm

4. It is all about the Right spending and not running out of cash

5. Hiring and firing too many people too soon will kill your firm

6. Product / Process / Service not very sustainable

7. More often you run behind investors than customers

8. Very proper inside sales network with a focus not given importance

9. Not enough care on their business model and monetization plan

The National Venture Capital Association estimates that 25% to 30% of venture-backed businesses fail." "According to U.S. Census data, only 48.8 per cent of the new establishments started between 1977 and 2000 were alive at age five." This is for small businesses. The failure rate is much worse than for "startups".

Note

Failed entrepreneurs, or re-starters, who after some time restart in the same sector with more or less the same activities, have an increased chance of becoming a better entrepreneurs.

If you would like to know?more about Startup Management, you can contact the author.

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