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>>
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>>
Lean startup methodology proposes that for a startup to be successful it has to develop a framework that encourages the focus on action. The process begins when the founders of a startup fill out the business canvas model that has nine subsections dealing with concepts such as value proposition, customer relationships, revenue streams, cost structure etc. this enables the founders to answer questions on their business and also helps them put together a testable hypothesis thereby facilitating production of viable products to test the hypothesis, If the test proves wrong the canvas model is adjusted and the iterative process is repeated. Although the lean startup methodology has proven successful in most of the cases it still isn’t completely failproof and causes considerable harm at times. Read More>>
This is a marketing strategy or mentality adopted by tech-savvy companies like Amazon, Uber, Netflix and also by companies such as Nike in order to provide their customers with a personalised service experience on multiple platforms. This method also involves reducing the response time involved in replying to a customers request or grievance call, not only does this help the companies stay relevant to their customers but also fosters new business opportunities. Read More>>
DFI helps the organisations to identify potential distant threats and also helps them devise a plan of action when the need arises. It was created in response to the question, How A few businesses detect and respond to future threats and also capitalise on vague opportunities while the others fail? another important question is why are the business leaders unprepared? the answer is that the tools or frameworks that are used mainly focus on the immediate environment of the industry such as war games, strategic planning, market trends, etc. also in many industries, the incentives are based on short term goals thus the leaders are biased towards encouraging activities that strengthen the existing domains rather than exploring new ones. thus without a reliable and structured framework such as DFI recognising and implementing distant innovation will always be a risk to the organisation. Read More>>
Tech startups deal with software, cloud computing and mobiles. on the other hand, Hard tech startups are mostly concerned with materials, energy and Lifesciences. It is shocking that the criterions governing the success of both are completely different and thus a basic playbook cannot be used for both categories by an entrepreneur. However, in the past decade, tech startups have followed a particular trend in order to remain successful such as;
- Building products that fit into the big market by taking advantage of the rising smartphone market and also cloud computing technologies.
- Putting together a team of engineers, managers and designers to facilitate lean software development and growth methodologies.
- Using the right mix of “Tried and true” as well as the “out of the box” business strategies in order to expand larger and faster with the assistance of right executives.
Although it sounds really simple, it is extremely difficult to implement them and the pattern is completely different for Hardtech startups. Read More>>
The pitchbook data says US-based startups have raised $66 billion in venture funding in the first quarter of 2019 putting the market on track to surpass the $100billion mark by the end of 2019. However, there has been a considerable decline in the VC acquisition in Angel and seed-stage rounds, thus raising the question for all startups as to what is the right time to get investors and how to pick the right investors or partners. here are some perspectives shared by some leading early-stage venture capitalists that will help you have a better insight about VCs.Read More>>
Tilt Five was started by Ceo and Ex valve engineer Jeri Ellsworth and a few castAR employees who put together enough funds to buy back assets of their former company castAR in 2017. after 2 years of reworking, they are all set to launch an improved version of their AR glasses that is encased in a sleek polycarbonate shell making it futuristic in design and also comes with a customisable nose piece. They aim to integrate the experience of board games and video games with AR and make tabletop gaming affordable. Read More>>
1. Keep the pitch short and Focused:
Timing is crucial so take lesser time to pitch to make it better.
2. Turn your Pitch into a story
This is the best way to captivate your listener’s attention.
3. Explain exactly what is unique about your product or service:
Go back to the drawing board, if your product or service is not unique compared to the one already in the market.
4. Explain who your target audience is:
Use Demographics and psychographics to pinpoint your target audience.
5.Explain how you are going to obtain these customers:
Proposed Marketing/campaigning ideas, technique and methods to be included in the pitch.