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Showing posts from July, 2018

Why should Startups look at unsuccessful entrepreneurs as business mentors?

Entrepreneurs, particularly startup entrepreneurs are risk takers. We do not conform to the norms of safe play but are always on the lookout to push the boundary of trade and commerce to develop new opportunities and markets sometimes even where none exist.


We know that failure is the stepping stone to success and are not deterred by our own failures but press on towards our goal with single minded determination and take the help of people who have got the experience and calibre to help us.
So why is it that we do not even think of taking the help of people who have done it and seen it all but were unable to achieve their goal. Yes we are talking about unsuccessful entrepreneurs!
Anyone who embarks on the entrepreneurial journey dreams of his startup achieving great heights in the days to come but the unsavoury reality is that 90% of startups in India fail within the first 5 years.
They fail not because of want of dedication, effort or enthusiasm but despite that due to common mistakes …

Failed Entrepreneur contribution can be more valuable than the successful one's

We as normal human beings are always enamored by the success stories of entrepreneurs who have made big in the business world
Well YES there stories can be very inspiring or motivating enough for any wanna be entrepreneurs to emulate 
Thanks to all the online as well as offline media making them hero's of there achievements
Has anyone thought, that there is a very large chunk of failed entrepreneurs , who despite of giving all there professional might  have not make it big. Do we even think about 
Why they failedWhat mistakes they madeHow costly it would have been for them to make those mistakesWhat mental & physical trauma they would have faced for their failures
Unfortunately none of the media or forums talk about them , they are not today's hero's as no want to be associated with a failed entrepreneur




Imagine a scenario where all the wanna be entrepreneurs learn from these so called unsuccessful entrepreneurs as to what mistakes they did , some key important lessons on wh…

Is building brand necessary for early stage startups in India ?

No doubt it is the age of startups as more and more startups hit the market with their USPs at regular interval. But, it is not all smooth sailing for the startups in this ultra-competitive environment.
According to an IBM Institute for Business Value and Oxford Economics study, 90% of startups in India fail within the first 5 years.  For example, Taskbob a hyperlocal, on-demand home service launched in India in 2015 announced its shutdown on the company's FB page on Jan 19, 2017 while the last minute hotel booking app Roomstonite launched in 2015 from Bengaluru, India seems to have shut down in just two years in 2107.
 Moreover, startups by their very nature are always experimenting and do not have a predefined path on which to progress. As they work in uncharted territory they often have to change directions and or their products/services to suit market trends. Often-a-times their business model too changes.
Not a bright idea In such a scenario it does not seem to be a very brig…