START UP SUCCESS MANTRA- IT’S MORE THAN JUST AN IDEA!
Written by Rafiya Shaikh & Edited by Aastha Vijay,
Content writers At bbayconnect.com
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Got a start up? Well, then you are probably hoping your idea is enough and deserves all the applaud and success. But a start up doesn’t get successful over night by an idea alone.
It’s not just the idea, but the execution gives you an edge!
It is not the idea that is worth million dollars, but the efforts of a team, the team that shapes the idea, moulds it together into a marketable product, and is of that worth. An entrepreneur has a mission, one that needs forces to accomplish. In the case of start ups, the forces account to several factors. A start up requires a lot of proper services, and a lot of appropriate tools, that will bring success to it. Planning a very important business model is very important, and that of course is not a one man task.
Let’s have a look at certain factors that have brought many successful ventures, out from the crowd.
Market Research: Adequate market research for the company is very important, and crucial to the business. An entrepreneur must have a realistic approach towards the future of the start up. Decision making with a properly planned business model, and with a clear perspective in mind, which surely builds up on proper market research, helps in producing the idea. Conducting market research is necessary to understand the response from a diverse audience, and help get customers. Deeper research involves knowing the behavior of ventures similar to yours in the market. It can help you prevent mistakes that others made, and will provide you with mediums to grow your business better. Analyse the research performed and act on the same. And goes the say, know your market better than your competitors. It’s a lot about the timing.
Adapt to the market when you see it change.
Effective Management: If you own a start up, you probably have people playing various roles at the office. There are employees performing a low level task, and employees performing a high level task like the HR, or an IT guy. But a point to be considered is that, these employees though working on tasks which may seem independent, are not really so. They form a chain, in other words, they are somewhat connected. Their main goal is to provide in the success of the start up. Hence, a manager is responsible for bringing the two ends of the company together. Effective management deals with eradicating this gap as much as possible, and bringing the company’s big picture truly out in front of all employees. Many platforms have come up for the same like slack, dapulse, zoho projects, etc.
Online Platforms: The internet is flooded with opportunities to grow your seed of idea into a tree that blooms. There are several platforms online that provide start up solutions, be it research and analysis or the social media to make people aware about a venture, or tools that help with effective cost management and control. Promotional activities act to prevent your start up from dying. An audience, though tiny initially, need to be targeted through online media to engage them with the start up. At least, people must make note of your existence, to start with. Eventually it turns out to be a big help for the start up, leading to it success. Namely, pivotal tracker, Google analytics, SEO (Search Engine optimisation) tools for marketing, or Ad Words, and Ad Sense.
There are going to be ups and downs, when running a business. A young entrepreneur faces many as a matter of fact. But there is always room to make it better, and to keep it going. If you are an entrepreneur treading the path of uncertainties and you’re almost there, here is a quote to motivate you to achieve your goal:
“Success is stumbling from failure to failure with no loss of enthusiasm.”