What Makes a Start-up Successful?

For a business, the end result depends on having the right ingredients. Being in the right place at the right time helps. Hard work and teamwork are also key. But the most critical component is to give the world something it hasn’t seen before. Your idea, product, or service has to stand out. It is possible to learn from trial and error how to make a business unique. Yet this also comes with the risk of learning things the hard way.

There are real-life examples of how all the ingredients for success come together.?

In this article - i am sharing few tips/pointers for new startup entrepreneur who is planning to start his start-up journey..

1) Encourage word of mouth

Recommendations play a huge role in business and also in society.?

Many day-to-day conversations are about things people love, things their friends should try.

2) Solve a problem

3) Experiment With Variety

4) Focus on the Product/Service/Solution First.

5) Look For The Need

6) Do It Easier (Make it Easier) - Sometimes the service or market you want to break into is already well-established.

7) Include your Team Members at every stage (initially)

8) Digitally Upgrade (Technology, user interface, UPI, AI etc etc)

9) Fill The Gap

10) Empower Your Customers

11) Tailor Your Business - by giving customers an experience tailored to their needs.

12) Build A Driven Work Culture - It encourages a positive work culture. A mission-driven work culture significantly improves performance.

13) Fuel Your Startup as your baby, nourish and nurture it on daily basis - so that it grows big and healthy

14) Make Your Brand Known. - work tirelessly to increase brand name year on year. Use online and offline approaches to secure media coverage and internet traffic.

15) Apply customer feedback - most important feedback helps you to connect to customers, make timely changes in your product/service and keeps you aware about customer's preferences.

16) Keep Building (Innovate, Research, scale-up, upgrade)

17) Be The Face Of Your Brand (You become your own Brand Ambassador, use your face in all videos and images, professionally managed to create the first and everlasting impression). Personally promote your brand through example and customer interaction.

18) Give Your Customers Control

19) Connect Groups Together

20) Try Something Different (There is no shortcut to Success, You just cannot become a successful start-up entrepreneur from Cut, Copy, Paste model)

21) Use What People Already Have (make is mobile friendly, user friendly, pocket friendly and give a unique experience to your customer so that he/she becomes your regular/repeated buyer

22) Do The Smart/Intelligent Work (This needs collection of Information/data and analyzing). It is a massive amount of time-consuming work.

23) You Only Need One -THAT ONE IDEA/PRODUCT - Big enough to start a business with, big enough to create a business model?

and big enough for deal likely to get rejected

24) Niche Can Be King - An idea can change your life, work, develop, design, customize everything for that niche market

25) Network (most important) - Make new contacts, new friends, new associated across the country, use social media to build your brand, build your network, join industry and business forum for self learning and training and connecting with the world around you

26) Even Tiny Opportunities Add Up

27) Keep Expanding

28) Invest in Research

29) Be High-Quality, Be Consistent

30) Diversify Globally

31) Be Organized, Focused and Manage your time efficiently

32) Inspiration Can Come From Anywhere (be socially active, be active on social media and be active in business forums)

Learning From Successful Startups

Success comes from a diverse range of circumstances and backgrounds. But all successful entrepreneurs have to face a learning curve to find success. There were problems that needed solutions, processes to improve and goals to meet. All the successful startup entrepreneurs need to have a long-term vision.

Budget your time, manpower and resources for the long haul.?

Avoid focusing on quick revenue.

Writer:- Mukesh Jagwani - Founder and Managing Partner, MoneyGuru Finserv