No one wants to be a quitter, But there comes a point when the founders are struggling with their startup and have to make the big decision in order to keep their reputation and sanity intact. The process of shutting down a startup is always a messy affair because it involves burning down customers,employes and investors. However, there are other ways an entrepreneur can strategically shutdown the company and bounce back from the failure. The key is to know when to give up,Although failure is a slow process and there is no way to measure how well a startup is doing, one should know that when the startup is moving sideways it is time to reflect on the direction the company is heading. It overwhelms any founder when they have to shut down their venture because they do not want let others down and future job prospects is another factor that makes this whole process even harder.Read More>>
Large Organisations that have put design at the centre of the enterprise are undergoing major shift with respect to design, The shift is not with respect to the aesthetics but rather on the application of design principles to the approach employes take to solve a problem. This modified approach comes as a response to the complexity faced by industries in integrating the software to the hardware and also in trying to make the users experience a simple and comfortable one. Design Thinking basically emphasizes on these factors;
- Focusing on the emotional experience of the user.
- Creating alternate models to examine the complicated problems.
- Using prototyping to obtain other potential solutions.
- Leveraging failure as learning and as a cost for innovation.
- Show thoughtful self-control.Read More>>
Recent studies based on data acquired from the USA suggests that VC’s are biased towards founders of same ethnicity irrespective of their financial behaviour, the male-dominated VC sector and the lingering gender gap further justifies the tendency of VC’s towards homophily. However, this does not mean we eliminate rationality completely because when the study was further extended to understand the 622 deals within India’s rapidly maturing VC industry. It was understood that the VC’s did not completely base their decision on the social attributes such as region, caste or language rather on the future cash flows from the deal. using measures such as the internal rate of return (IRR) as a metric the researchers could identify the number of successful deals out of the ones that were being studied. Read More>>