Having a
successful Startup Business is the biggest goal
of those who dream of getting involved in the technology and innovation
industry. A good idea and hard work are essential, but not enough. Planning is
necessary for your business to grow, prosper, and most importantly survive in
the midst of competition.
The Obstacles to a
successful start
According
to a study by the Dom Cabral Foundation in India, 25% of startups in India are
less than four years old before their first year and a half.
For For example, in Mexico, 75% of new businesses close after two years in the market,
according to the Center for the Development of Business Competitiveness.
According to Startup India, the failure rate reaches 85%.
The Don
Cabral Foundation study shows three factors that explain this phenomenon:
- Number of
partners: for each new partner who works full time in the company, the risk of
interruption of the startup increases by 1.24. In other words, the more
responsible the founders are for the startup, the greater the risk of failure.
-
Investment volume: the study shows that startups that have the capital to cover
operating costs for a period of 2 months to a year are 3.2 times more likely to
disappear than companies that have enough capital to cover costs Cover costs
for a month.
- Place of
installation: if the company is in an accelerator or an incubator, the risk of
disappearance is 3.45 times less than that of startups installed in their own
office or in a rented space.
3 Tips For a Good Start
1. Recognize your
strengths and weaknesses
Don't think
that one good idea is enough for a successful startup in India. Take
self-assessments and identify your strengths and weaknesses. “Finding
professional mentors or speaking with more experienced entrepreneurs helps a
lot to those who are just starting to develop a project,” says the incubation
coordinator of Porto Digital.
2. Find incubators
and accelerators
The ideal
institutions to support those who want to develop their startups are incubators
or accelerators that exist precisely for this purpose: to transform incubated
or accelerated companies into successful startups.
3. A good speech for
investors
Specialized
companies and groups of investors organize events for beginners almost every
month to present their proposal (oral presentation of their idea). Bet on a
short and direct presentation of your Business Startup idea, product or
business.
If you have
any questions, suggestions or advice on this, please comment below. You can
also take the opportunity to share this content with your friends, colleagues
and employees through social networks.
0 Comments