STARTUP: A NEED OF HOUR

A startup is a young company founded by one or more entrepreneurs to develop a unique product or service, bring it to market and make it irresistible and irreplaceable for customers.

Startups are rooted in innovation, addressing the deficiencies of existing products or creating entirely new categories of goods and services, thereby disrupting entrenched ways of thinking and doing business for entire industries.

FACTORS THAT BOOST THE SUCCESS OF A STARTUP

Expertise of Founder in Domain An organisation is an artificial person and the founder is the one who determines whether it will survive or not. The founder needs to ensure that he/she has acquired adequate skills and knowledge about the domain and should not just step into it without any prior experience in the specific field. The more experience is held by its founder, more are the chances of its success.

Passionate and Supporting Team An organisation needs support of its members. A leader or a manager is nothing without his/her followers or sub-ordinates respectively. They need the support to create wonders. If an organisation is able to find such passionate and supporting employees, then the startup will definitely be able to crate a goodwill in no time.

Committed and Hard Working Employees Employee is that asset of an organisation that converts other assets into money. Capital is of use without Human Capital. Committed and Hard working employees don’t work for money but work for the belonging towards organisation. They give their best for success of organisation.

Innovation A market where the demand and requirements of consumers changes drastically, a new business needs to bring something new and out of the box that leaves a favorable impact on mind of customers to create a customer base.

Not letting go even a small opportunity of Growth A new organisation should grab each opportunity to show its uniqueness. Every opportunity have only two results either success or a learning that can act as a base for future success.