10 Benefits of Working in a Startup

When you think of working in a startup, do you think it’s fun or long hours of slogging? There is no correct answer to this. Both of them could be true. But it’s important to not overlook the benefits of working in a startup. 

Before taking a final decision, don’t forget to consider these benefits of working in a startup. 

1. You’ll get to work with passionate entrepreneurs:

If you work in a startup, you’re going to be managed by passionate and talented entrepreneurs who have gambled everything for fulfilling their dream. Working under them will teach you more than you could have ever imagined and their guidance will take you places.

2. Wear many hats:

As a startup employee, you’ll be designated with many other roles outside of your job description. Although this could mean more stress and long hours, the experience and exposure gained from doing this is cannot be experienced in a corporate. 

3. A unique growth opportunity:

Best of the candidates are not motivated and driven by money. They are motivated by the opportunity to learn and grow. They understand that knowledge is money. In a startup, they can develop new skills and do things they wouldn’t have the opportunity to do elsewhere. 

4. Experience the startup culture:

The startup culture is more chill compared to the corporate culture in terms of dress code, rules and employee hierarchy. Have a problem that is not resolved? At a corporate office, you would have to go to your boss, and he would report to his boss and so on. But in a startup, ideas and problems can be discussed with the boss directly. 

5. Work that matters:

Working in a corporate in the initial stages of your career means you’ll probably be stuck doing some work that doesn’t really have any significant impact on the mission of the company.  But each startup employee is important and has a crucial role to play in the success of company. 

6. There will be ping pong and foosball: 

Obviously this is not guaranteed but usually the startup office atmosphere is a world away from the corporate office atmosphere. And if you happen to join a startup without a ping pong table, a few e-mails and a bit of money pooling among the colleagues can do the trick. 

7. Learn how to be an entrepreneur: 

Do you have a dream of starting your own company someday? Working at a startup will help you get closer to your goal because startup employees work together. This will help you understand and evaluate the decisions that are taken at the top level, middle level and lower level. Not only that, you also learn how to deal with all types of clients and understand how day to day business matters are handled. 

8. Working in a startup can be the equivalent of doing an MBA:

In MBA, you will be learning all the concepts but not implementing it practically. In a startup, you will be implementing it practically. You will be dealing with real money and real clients. Of course doing an MBA has its own perks but working in a startup can really increase your knowledge. 

9. Flexibility:

One of the main advantages of working in a startup is flexibility. The option of work from home, option to do their work on their own schedule and find a balance so that they can spend more time with their family, friends and their hobbies.   

10. Stock options:

Many startups offer stock options along with regular salary. This is a cool option because it will make you feel like an owner of the company. This can add as a motivational factor to work harder and learn more so that you can contribute to the growth of the company. 

So, these are some of the benefits of working in a startup. Hope you liked it.  


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What is Startup India?

Do you have an innovative idea that you want to pursue as a startup? Then Startup India is the right platform for you!

Startup India is a plan of action that is aimed at promoting and financing startups. It is an initiative of the Government of India. The campaign was first introduced by our Prime Minister Narendra Modi on 15th August, 2015. 

The Indian government has introduced over 50+ startup schemes in past few years. Each Startup scheme is aimed to promote the Indian startup ecosystem. 

India is expected to reach over 12,000 startups by 2020.

If you’re wondering “How Startup India is helping businesses?” Here is the answer to your question. 

  1. Easy access to funds

The Government of India has set aside Rs 10,000 crores to fund the startups as venture capital. 

The government is also giving guarantee to banks and other financial lenders for providing capital. 

2. Exemption from tax for 3 years

Startups will be exempted from income tax if they get a certification from the Inter Ministerial Board. 

3. Reduction in cost

Startups will enjoy 80% reduction in the cost of filing patents.

4. Easy process

Government of India has launched a website and a mobile app for registration of startups. Anyone interested in Starting a Startup (Provide link to How to start a startup) can fill a simple form on the website and upload the required documents. The full process can be completed online.

5. R&D Facilities and opportunities

New research centres will be set up to provide facilities and opportunities for startups in the R&D sector.

6. No time-consuming registrations

Numerous compliances have been simplified to save time and money for startups. 

7. Apply for tenders easily

Startups can apply for government tenders. They are exempted from the criteria of attaining a particular turnover. 

We have written a very interesting article about lean startup .

Follow the link to read that

http://liftmystartup.com/what-is-a-lean-startup/

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10 Most Successful Women Entrepreneurs in India

This article talks about some of the most successful women entrepreneurs in India and how they are an inspiration to a new generation of budding entrepreneurs.

Gone are the days when women were stereotyped to be subtle, soft, to cook, to take care of children, to dress up in a certain way, to be dependent, to be submissive, and to choose only few professions.

Today, the women of our country have come a long way from just being a homemaker.

From heading global businesses to starting the most innovative startups, women have made their mark.
Their journey to the hall of fame hasn’t been easy for these women and they have fought against all the odds and proved everyone wrong who have doubted their entrepreneurial abilities.
Interesting Statistics of Women Entrepreneurship in India:
 About 57% of women started their business alone.
 About 58% of women entrepreneurs in India started their business between the ages of 20 –30.
 About 71% of women entrepreneurs employ 5 or less people.

Here is the list of 10 most successful women entrepreneurs in india –

1 Kiran Mazumdar Shaw 

Founder – Biocon. 

Kiran Mazumdar Shaw was born and brought up in Bangalore. She completed her bachelor’s in zoology from Mount Caramel College, Bangalore. She later did her master’s in Malting and Brewing from Ballarat College, Melbourne University.

She founded Biocon India in 1978. It was a joint venture with Biocon Biochemicals Limited of Cork, Ireland. In the beginning of her entrepreneurial journey, she had to overcome obstacles like shortage of funds and inexperienced workers. Today, Biocon is one of the leading pharmaceutical companies in the country. 

Apart from this, she was also awarded Padma Shri in 1989 and Padma Bhushan in 2005 by the Government of India. 

2. Indu Jain

Chairman – Bennet, Coleman and Co. Ltd.

Indu Jain was born in Faizabad. She is the current chairperson of Bennet, Coleman and Co. Ltd., which owns the Times of India and other large newspapers. They are best known for their popular newspaper The Time of India, The Economic Times and the TV news channel Times Now. Under her leadership, the Times group has achieved a lot. She is also a spiritualist, humanist, entrepreneur and an educationalist.

Mrs. Indu Jain was awarded the Padma Bhushan in 2016 by the Government of India. 

3. Vandana Luthra

Founder – VLCC

Vandana Luthra was born in Kolkata. She is the founder of VLCC Health Care Limited. It is a beauty and wellness brand. The wellness brand has its presence in over 11 countries over Asia, Africa and Gulf Cooperation Council (GCC). 

She got proficient in beauty, skin care, fitness and nutrition while pursuing her higher education in Germany, UK and France. 

Mrs. Vandana Luthra was awarded the Padma Shri in 2013 by the Government of India.

4. Ekta Kapoor

Managing Director – Balaji Telefilms

Ekta Kapoor is one of the main people behind changing the face of Indian Television forever. Ekta Kapoor has singlehandedly founded and made Balaji Telefilms a successful production house. 

She has produced many hit serials. The longest running TV serial and the Most watched TV serial is produced by her. 

Ekta Kapoor has won numerous awards for the TV shows and movies that she has produced. 

5. Richa Kar

Founder – Zivame

Richa is the founder and CEO of Zivame, an online lingerie store. she is on of the most successful women entrepreneurs in India. Zivame is probably one of the first online innerwear players in India and has played a great role in educating women across the country about lingerie. 

From starting in a small office space to having a valuation of around $100 million, Richa kar and Zivame have come a far way!

6. Aditi Gupta

Founder – Menstrupedia 

Aditi Gupta was born in Jharkhand. She has a degree from National Institute of Design, Ahmedabad. Aditi is the co-founder of Menstrupedia. The company works towards spreading awareness about menstruation and educating the society about menstrual health and hygiene. 

She started the venture after her personal experiences. She used to have menstrual issues and after finding out other women also have similar issues, she decided to make a website and make illustrations that educate women on menstruation. 

This venture has become very useful and helpful to the women in India. 

7. Upasana Taku 

Founder – Mobikwik

Upasana co-founded Mobikwik with her husband, Bipin Preet Singh. Mobikwik provides a mobile phone based payment system and a digital wallet. Customers can add money to the Mobikwik wallet and that can be used for payments. 

She has completed her masters in management science from Stanford University. 

8. Malika Sadani 

Founder – The Moms Co.

Malika Sadani is the founder and CEO of The Moms Co., a leading brand for toxin free new born baby products and products that are safe for mom’s skin care during pregnancy.

When Malika moved back from UK to India after her first child was born, she personally found it difficult to find chemical free, quality products in the country.  

With Moms Co., her goal was to help moms in India and across the world to have access to safe and good quality baby products. 

9. Ruchi Garg

Founder – Venuelook

Venuelook was founded by Ruchi Garg in 2014. It’s a Noida based company. Venuelook is into venue booking and event planning. The company has its operations across 16 cities in India. 

Ruchi holds a degree in computer science. She has an experience of more than 15 years in the industry and still loves to solve her business problems using technology. 

10. Sugandha Agarwal

Founder – Docttocare

Sugandha is the sole founder of Docttocare. Docttocare is an online healthcare service provider which provides best doctors, clinics, hospitals with brief information and virtual walkthroughs of the ambiance to showcase hospitality and their facilities. 

Sugandha has previously worked in Infosys, Oracle and Google Maps before starting Docttocare.

10 Successful Startups From Mumbai

Mumbai has been considered as the financial hub of the country for a long time. Even though Bengaluru is the most preferred choice for starting startups, Mumbai has caught the attention of everyone for its posh lifestyle and business scope in many sectors. 

Here are 10 tremendously successful Indian startups that grew from Mumbai.

1. Ola cabs

Founders: Bhavish Aggarwl and Ankit Bhati  

Founded in: 2010

Ola cabs is an Indian transportation network company offering taxi services and food delivery. 

Ola has raised funding from Sachin Bansal, Kia Motors and Hyundai, reaching a valuation of about $6.2 billion. 

Ola Electric has separately raised funding of INR 400 crore from Tiger Global and Matrix Partners India. 

2. Quikr

Founders: Pranay Chulet and Jiby Thomas 

Founded in: 2008

Quikr is an online advertising platform. Quikr is there in over 900 cities and users can sell their mobile phones, household goods, cars, real estate, services and also look for jobs! 

Quikr has raised $350 million so far from Tiger Global, Matrix Partners, Norwest Venture Partners, eBay, Nokia Growth Partners and others.

3. Pepperfry

Founders: Ambareesh Murty and Ashish Shah  

Founded in: 2011

Pepperfry is India’s number 1 online furniture platform. They sell furniture and home décor products, creating their own niche in the e-commerce market. 

Its stock includes more than 80,000 products which includes various furnishing and home décor products. 

Initially the company was funded by the founders itself. They managed to raise $100 million in 2015. 

4. Justdial

Founders: V.S.S Mani 

Founded in: 1996

Justdial is marketed as India’s best local search engine as they provide search services across the country. They provide different services in India over the phone and online.

Justdial launched their web-based version in 2007 and their Android app in 2011.

In 2012, SAP ventures and Sequoia capital invested a total of $57 million in the company. 

5. Bookmyshow

Founders: Ashish Hemrajani, Parikshit Dar and Rajesh Balpande

Founded in: 1999

Bookmyshow is India’s largest online movie ticketing brand. Bigtree Entertainment Pvt. Ltd, the parent company of Bookmyshow received backing from Network18 group and Accel Partners. 

In 2018, the company raised $100 million in its Series D funding round. Bookmyshow is currently valued at $850 million. 

6. Nykaa

Founders: Falguni Nayar

Founded in: 2012

Nykaa is a beauty retailer online store. They sell cosmetic and wellness products. They opened their first physical store at T3 terminal, Indira Gandhi International Airport in November 2015.

The recent funding by TPG Growth has taken its valuation to $724 million. 

7. Toppr

Founders: Zishaan Hayath and Hemanth Goteti 

Founded in: 2013

Toppr is an online exam preparation platform. Initially, they catered to only IIT JEE students. Now they have expanded and offer materials to the medical students too. They also have materials for board and higher secondary examinations. 

The company has received $2 million seed funding from SAIF partners and Helion ventures. 

It recently raised $35 million in series C funding round which was led by eight roads ventures. 

8. Purple Squirrel

Founders: Aditya Gandhi and Sahiba Dhandhania 

Founded in: 2013

Purple Squirrel’s goal has been to bridge the gap between college learning and actual trends of various industries. The company provides industry driven education. 

The company works in collaboration with more than 350 businesses and 100 educational institutes. 

9. Bajaao

Founders: Ashutosh Pandey 

Founded in: 2005

Bajaao Music Pvt Ltd is an Indian online retailer of music instruments, studio equipment, DJ gear, lighting and pro audio equipment.

As the first online music store, impressive stock and good service, the startup was soon able to break even. 

As of today, Bajaao is India’s largest e-retailer for music instruments.

10. InCred

Founders: Bhupinder Singh

Founded in: 2016

InCred finance is a non-banking financial company in India. The company gives out home loans, education loans, consumer loans and SME lending. 

It recently raised INR 600 crore in a funding round led by FMO.

So, this was a list of some successful startups from Mumbai. Hope it was informative. 

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Importance of having a company culture

Importance of having a company culture

Company culture is the backbone of any successful organization. Every organization, from small businesses to large corporates, has a culture. Company culture includes values and behaviors that adds to the social and psychological environment of a business. A healthy company culture helps in boosting the performance of a business. 

Let’s take a look at 5 reasons why company culture is important:

1. Identity of your company

To begin with, culture contributes to the identity of your company. For instance, if your company prioritizes achieving both organizational goals as well as individual goals, then workers will be more likely to join your company as they see growth both personally and professionally. 

2. Absence of company culture creates chaos

If the company does not have a good work culture, it can be an unhealthy work environment. 

If it does not make the employees happy, then their productivity level will come down. This will directly affect the growth of the individual and hence the growth of the company.

3. Retention of employees

A solid company culture attracts employees who are proficient and, more importantly, retains the existing employees. When people feel like they belong to a culture, they are more likely to make a long-term commitment with the company. This means fewer people to hire and better bonding among your employees.

4. Image of the company

Culture increases your brand image. If you have a high spirited and a cheerful atmosphere, your customers will see you as a gracious brand. Depending on your target customers, that could be a huge advantage for sales and company reputation. 

5. Business growth and longevity 

Good company culture positively impacts business growth and longevity.

Studies show that most of the profitable companies do not primarily focus only on profit making. They give equal importance to the company culture. They believe that a happy employee is a productive employee.

So, when there is a solid company culture, there is retention of employees, business longevity, leading to the growth of the business.

There is no single formula for a “perfect” company culture. It is different for every business. It is important to remember, “company culture is what motivates and retains talented employees”. And this is what will keep the business alive and competitive in the near future.

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Balance Sheet – What is a Balance Sheet and how to maintain it?

What is a Balance Sheet and how to maintain it?

Definition of ‘Balance Sheet’

“A balance sheet is basically a summary of the financial balances of an individual or an organization. It reports a company’s assets, liabilities and shareholders’ equity. “

It is a financial statement that provides an overview of what a company owns and owes, as well as the amount invested by the shareholders. 

Formula used for a balance sheet

Formula used for a balance sheet

Source: https://www.nonprofitaccountingbasics.org/reporting-operations/statement-financial-position

How to maintain your balance sheet

1. Use the basic accounting equation to make the balance sheets:

The equation is, Assets = Liabilities + Shareholders’ equity. Assets are the resources owned by the company. Liabilities are the expenses of the company. Shareholders’ equity is the contribution of the shareholders to the company. This information is compulsory to make a balance sheet. 

In a balance sheet, the total sum of assets should be equal to the total sum of liabilities. 

2. Choose a date for the balance sheet:

A balance sheet is made to assess the financial position of a company. Companies usually prepare an official balance sheet every quarter (the last day of March, June, September and December) and at the end of the financial year (December 31 or March 31)

3. Give a heading for the balance sheet:

Use the title balance sheet on the top of a page. Below it, list the name of the company, and the date on which the balance sheet was made. 

4. Prepare the assets section:

A. List all the current assets – Current assets are basically cash and other assets that are expected to be converted to cash easily. 

Include a sub total of the current assets and label it “Total Current Assets”

Please refer to figure 1 to understand the items that come under current assets. 

B. List all the non-current assets – Non-current assets are determined by a company’s value of plant, property and equipment that can be used for more than a year (minus depreciation)

Include a sub total of the non-current assets and label it “Total Non-Current Assets”

Please refer to figure 1 to understand the items that come under non-current assets.

C. List all the intangible assets – Intangible assets are also considered to be non-current assets. They are assets that are not physical in nature and will last for more than 1 year. These include goodwill, patents, copyrights, trademarks and franchises.  

5. Add up all the current and non-current assets and label the total amount as “TOTAL ASSETS”.

6. Prepare a liabilities section:

A. List all the current liabilities- Current liabilities are liabilities that are due to be paid to creditors within one year of the balance sheet date. 

Include a sub total of the current liabilities and label it “Total Current Liabilities”

Please refer to figure 1 to understand the items that come under current liabilities.

B. List all the long-term liabilities- Long term liabilities include any liabilities that will not be settled within one year.

Include a sub total of the long-term liabilities and label it “Long Term Liabilities”

Please refer to figure 1 to understand the items that come under long term liabilities.

7. Add up all the current and long-term liabilities and label the total amount as “TOTAL LIABILITIES”.

8. Calculate Shareholders’ equity:

This includes the capital that is contributed by the shareholders to the company. 

9. Add the “Total Liabilities” and “Total Shareholders’ Equity” figures:

The balance sheet is correct if the “Total Assets” and “Total Liabilities and Total Shareholders’ Equity” are equal. 

If the balance sheet does not tally, then just check if you have missed or repeated any value.

10. If “Total Assets” is greater than “Total Liabilities”, then the company is making a profit. Otherwise, it’s under loss. 

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10 Elements of a Successful Business Idea

10 Elements of a Successful Business Idea

Ideas are the lifeblood of a business. Most successful startups always become big because of a good idea and not because of surplus funds. 

1
Value Proposition
2
Customer Segmentation
3
Distribution Channel
4
Relation with Customers
5
Cost Structure
6
Key Activities
7
Important Resources
8
Your Partners
9
Revenue Streams
10
Scalability and Potential for Automation

                  Table of Content

1. Value Proposition:

A value proposition is a promise of a value a company guarantees to deliver to its customers. It is basically a product, service or feature that makes the company attractive to the customers and investors. It summarizes why a customer should buy your product or use your services. A value proposition should be directly communicated to the customers via the company’s web site or other advertising mediums. 

2. Customer Segmentation: 

Customer segmentation is dividing the customers into different segments like age, gender, geography, interests and salary. 

Customer segmentation can help you:

  • Develop effective strategies.
  • Provide better customer experience.
  • Better Ad targeting. 

3. Distribution channel:

Distribution channel is the path through which goods and services travel from the vendor to the consumer level. 

The distribution channel should be minimal as far a possible because it helps in getting the goods faster and at a lesser cost as there will not be many middlemen involved. 

This will help in increasing the company’s profits and customer satisfaction. 

4. Relation with Customers:

Cash is king but the customer is God. A satisfied customer is the best business strategy of all. Building good relationships with your customers is very important as it helps in understanding your customers’ needs. 

Providing what your customer needs will increase the profits of your business. This will help you gain more returning customers, referrals and more profit in the process. 

5. Cost Structure:

Cost structure is the fixed costs and variable costs that are required to operate your business. 

To maximize profits, businesses should find every possible way to minimize costs. While some fixed costs are vital for keeping the business running, a financial analyst should always review the financial statements to identify expenses that do not provide any additional value to the core business activities. 

6. Key Activities:

Key activities are basically the activities that a company must perform to succeed. 

For example, if your business focuses on the production of a product, you should focus more about the customer needs and produce accordingly to satisfy the customer needs. This will also help in increasing the net income of your business.

7. Important Resources:

Key resources are basically describing the important assets of a company. They are required to make a business work. Every company needs them and it is only through them that companies generate income and value proposition. Key resources can be financial, human, physical or intellectual. 

8. Your partners:

Team work makes the dream work. It’s not all about the money that a partner brings in. Potential partners must be trust worthy. Good friends who share common values and responsibilities make good partners. 

Look out for partners who have the abilities that you don’t have. This will help in making better decisions as the knowledge base is more diverse.  Remember that the beautiful rainbow is made out of different colors and same colors. 

9. Revenue Streams:

A revenue stream is basically the income of a business. Your net revenue is calculated as the gross revenue minus discounts or returns you had during that year. 

In business, a revenue stream is generally made up of either recurring revenue, transactional based revenue, project revenue, or service revenue. 

 10. Scalability and Potential for Automation:

It is important to keep up with the times and work towards what is best for the business. Automation helps in higher production at lower costs, more efficiency, better quality, more safety, and it helps in reducing the unnecessary expenditure of the business. 

10 Important Things To Consider Before Starting A Startup

10 Important Things To Consider Before Starting A Startup

Many people are thinking to start the start-up in the present world but not all people get success.

After helping more than 1000 businesses we have listed down these 10 most important points to consider before you start your own startup.

Point No. 10 will force you to think twice.

Table of content-

  1. Understand the scope
  2. Market Sizing
  3. Competition Analysis
  4. Finance Mapping
  5. Risk Analysis
  6. Timelines
  7. Testing
  8. Marketing Strategy
  9. Find Proper Talent
  10. Your Partners

1.Understand the scope-

Just having the brilliant Idea does not mean that business is going to be successful. 

No matter how unique your business idea is, you should understand the scope of business before you start it.

 Even the unique business ideas fail because of not having a scope in the market.

To understand the scope of the market you need to do the research. 

It is very important to deliver what your customer wants, not what you want.

2. Market sizing-

 Market sizing is another very important part of a startup. Market sizing is done to understand the potential of the market. 

To understand the market sizing we generally use the “bottoms-up-approach” – Breaking down a big number into smaller sets of numbers and then rolling them back to understand the size of the market

For example you can ask yourself these questions –

 How many water coolers can be sold in India in a  year?

 How many people will be needing morning breakfast in the office in Bangalore? 

How many people need bike repairing services on doorstep in Bangalore?

While answering  these types of questions, at the end you will get to know how much maximum revenue you can generate at the end of the year.

3. Competition analysis-

Before you start any business it is very important to understand your competition as well. 

Try to visit their stores or shops. 

If they don’t have any physical store and shop then call them and ask all the possible questions as a customer.

Visit the websites of all your competitors, understand their content strategy and get yourself signed up to their mailing lists. By doing this you’ll have an idea about their automation and email campaigns.

Click on their ads on Google, Facebook and other platforms to understand how do they retarget you.  

Understand their strength and weakness, & suppliers and customers. This will give a rough idea about your position in the market.

4. Finance Mapping-

Money is a big topic when it comes to starting a business. If you do not map the faniance before you start chances of your failure are very high.

Is it going to be a bootstrap business? 

Or are you going to take a small loan?

Should you look for investors in the beginning?

If you want the investment then how much is this?

You should have answers of these questions in the beginning itself.

Borrowing the money for no reason can sometimes lead to personal and professional conflicts.

If your company can grow only with the help of professional investors then start preparing the proper documents and balance sheets. These are going to help you further.

5. Risk analysis – 

It is important to analyse the risk before we start any business.We perform this risk analysis activity to identify the possible issues in any startup

It is not possible to forecast each and every risk in any business but If we recognise and analyse the potential risks then we can save a lot of time and energy later.

6. Timelines – 

It is very important for a new start-up to fix the deadline for every work. With every plan  you should also make a deadline for it to be executed.

 Every team member should know about your plans and the deadlines you have fixed.  

Not being able to execute the plan what you have conducted is one of the most common reasons of failure.

Time is equally important as money in startups and people don’t recognise it in the beginning.

7. Testing– 

Before you come to the conclusion to start a business you have to test your business model first  while you are a full time employee itself. 

 It is not good to quit your job just to do a business because you want to do it without testing it.

You have to verify and crosscheck the plans and the other parameters what you have decided for your startup.

As we know that business is the calculated risk and calculation should be on the basis of testing.

By doing this testing you will understand that what your customers like what your customers dislike, is it good to go with the same product and services what you have? or do you need to modify your plan a little bit?

Knowing the answers to these kinds of questions is also important before you start your startup.

8. Marketing strategy- 

To prepare a marketing strategy for a Startup you don’t need to be a very good marketer.  Rather you should have an understanding of your niche.

Keep yourself in feet of your customers and think about where you can find them.

One of the easiest ways to grow a business is digital marketing so you should be focusing on digital marketing more in the beginning depending upon the type of startup you are into.

Make sure that before starting the marketing you have achievable marketing goals that are aligned with the plans and targets.

Without a marketing goal you should never start marketing.

You must also read – 

10 Ways Digital Marketing Can Help Startups

 

9. Find  proper  talent- 

It is one of the very difficult tasks of a Startup to find the right talent.

 We have seen people hiring  anybody to complete the work because they are not finding  the right talent. 

By doing this you are harming your own business. 

Do not hire people who are not aligned to your company values and goals.

You have to  interview thousands of people just to get that Core Team of your startup.

 Startup definitely depends on the core team members in the beginning so do not compromise in hiring the core team.

  10.)  Your Partners-

Do not partner with somebody because you are not able to find a partner. 

Not everyone can be your startup partner remember this.

Many people boast about themselves and they do not have any proven track record to run a company or to do something great in their field.

 They will promise everything and when it comes to execution they won’t be able to do it.  That’s when you will suffer a lot.

Try to partner with the guy who has different skills than you so that  both of you can use your skills in developing the organisation and your skills will not be wasted in arguing and planning.

Always partner with the guy who wants to learn and doesn’t hesitate in asking for the help.

You shouldn’t be partnering with the people who are not having similar work ethics and lifestyle values like you.

 

Related Articles –

How to Start A Startup in Bangalore?