By definition,
A startup company or a startup is a company with limited operating history and the phrase ‘startup’ is generally associated with high growth technology oriented companies. “Survival of the Fittest” is the basic hymn that is germane to the success or failure of all entrepreneurial activities in the world.
An eerie search on the web brought me to a result which said that the number of new business startups and business closedowns were by far the highest in a developed country such as UK. A good conjecture would predict the numbers to be higher for US as it is the most developed country. Thus, it is of significant importance to the entrepreneurs of our country to understand the nuances of the operations of their respective startups.
India has a gigantic potential for new business startups as there are enough target markets to be discovered for any particular product or service to be launched. The economic basis for entrepreneurial activities in our country is the freedom to transform an idea into a business in a unique reference frame. The underlying motivation for a startup can be as diverse in nature as it can be thought of. But to recognize a profitable idea within our country’s chaotic environment which comprises of corruption, dim-witted policies, regulations, various apprehensions, financial hassles etc. is in itself a commendable achievement.
A startup for an Indian market should have many considerations. A few of them include,
- Correct measure of the market potential.
- Quality of the product/service in the company.
- Over involvement in the project and not losing the main idea.
- Presence of Risk taking capability.
- Accurate Financial predictions and a solution to initial funding problems.
A technical startup should essentially facet the uniqueness of the product/service to be launched. A perfect marketing mix always results in business success and thus it is of extreme importance that the main parameters viz. Product, Place, Price, Promotion, People, Process and Physical Evidence are perfect for a startup to be successful.
An Indian entrepreneur should be an individual who is a risk taker, a visionary, has a dynamic mind and should have a team which is able to perform miracles, provided ceteris paribus. The possible areas where high tech startups in India can primarily focus are social networking, mobile applications and software development tools.
But, this dynamic process of vision, change and creation should evolve ad infinitum for long term success of a startup. Also, a high-tech startup can only become huge when it decides not to sell its products or service to big giants in the industry, or else there can be many more Hotmail’s in the offing to be bought by a few Microsoft’s.
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