Startup Nexus Startup — Startup Mutualism
‘Startup’ sounds very exciting and it is very fancy today. The startup buzzword has virtually amplified the risk-taking ability among the young generations. However, startups lack an ecosystem and therefore they struggle more and often die prematurely.
Mutualism among species is a beautiful explanation of symbiotic relationship whereby two species benefit each other in their habitat. Symbiotic relationships come naturally and maybe it can find its existence somewhere in Darwin’s theory — survival for the fittest. The startup is an evolving ecosystem. It’s high time now for the startups to learn the environment and form a support system for the mutual benefit. A work outsourced from a startup to another startup. A referral from a startup to another startup. A subscription from a startup. And there are many other ways by which a strong startup ecosystem can be created. There are few pointers worth considering as startup driver and building startup ecosystem —
Fund Yourself First: Business diversity helps sustain and cushion in wear-tear times like COVID-19. Right from day one, our business should be diversified in such a way that one branch of your business keeps flowing funds. The immediate goal of this branch of business is to fuel your main startup goal. It helps startups fight longer as most of the startups die prematurely because they could not sustain with running cost. So, the core idea here is to fund yourself first.
Think Small to Think Big: Getting engulfed by corporates is a big fear where startups feel insure most of the times. When we see the large picture, the fear factor grows. Large corporates, no doubt, have a humongous ecosystem. Therefore, we should never think of competing them. Instead, a startup focus should be on an exclusive feature where the startup can distinguish themselves. Other aspects could be to partner themselves with big giants.
Loneliness Kills! Psychologically, startups have to get through different stresses like finance, resource, technical challenge etc. Start connecting to other businesses and startups which may or may not be in direct relation to your business. It benefits multilaterally. The most important benefit is the psychological — feeling of togetherness. It also helps you in getting different viewpoints and ideas. And of course, more connection means more business. The rule is simple.
Don’t Let Your Intention Sensed. Doing a favour for a return can be sensed easily. Sometimes a service offered without expectation create a relationship and cement the trust. Try this. It’s ripple effect will resonate your persona.
Grow Slowly. Building trust in startups is not as simple. Every day numerous Startups mark their presence on world-wide-web (www). Each one starts to race themselves on Google’s search first page and focus on SEOs. However, the fact is — building trust takes time unless you have a huge marketing budget. The chances of committing mistakes are high as well. Slow and focused start helps deliver quality. However, advertising yourself can’t be nullified altogether. It’s all about prioritization.
The startup journey is amazing. There is a learning curve of entrepreneurship that each startup founders have to learn through his own chosen path. This can’t be taught but experienced. And there is no way out. You can get lessons from past experiences of other’s journey but your startup journey has to be purely — yours. The startup journey is as unique as one’s life journey — Live it Yourself.
Kumar Amit (product specialist)
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