Start up India – how start ups are shaping the destinies of countries today
Digitisation of economy, massive exemplary reforms in the field of e- commerce, mushrooming numbers of internet users all over the world indeed has aided in the inception of a new era of upstarts chipping away at the advantage of big conglomerate
Internet has turned the tides around for everything in this world, converting ragtag and sluggish economy to bullish economies of the world,
Start-ups, we all are well versed with this word, as we get to witness this somewhere or somehow in our everyday life.
In the revolutionised era of today, everyone wants to have a slice of the escalating benefits of e- commerce, census state that there are almost ten new ventures cropping up every day, but very few are able to make the cut.
To throw light to this fact, we can take the example of the most successful story of this industry- Flipkart, started with a meagre amount of 4 lakhs; it is now a colossus with a market capitalisation of 10 billion dollar
The basic rationale behind this rigorous growth was its well defined strata, and first mover advantage, the audience of his movie was the youth, his plan initially was not to cover the entire millennium, but the young generation, it came up with the idea of having an online platform wherein you can avail round the clock services
This became the example for other people who too decided to pursue their business ideas and leave their coveted jobs .so popped up host of start-ups to tap the latent opportunities of the booming consumer market,
The government too has given enough leeway to promote entrepreneurship,100 % FDI in B2B segment, granting of loan up to 1 Crore without any collateral security are some of the instances showcasing the fact the government is making attempts to assist rather than impede
There are host of Business Plan Competitions, wherein you can submit your breakthrough ideas, and if got selected, these ideas are financed by venture capital funds.
Now coming to the bigger picture, start- ups have permeated the entire sectors, becoming the talk of the day; many blue chip companies have come up with M& A committee that seems to survey and monitor start-ups that has actually made the cut and ruling the roost.
Finance which seems to have being the biggest constraint for the entrepreneurs, now is easy to realise, there are plethora of Mutual funds, venture capital funds that are keen to finance innovative ideas and turn them into big conglomerates,
Even though the journey for new entrepreneurs seems to have eased with so much of reforms, but still they need to overcome lots of impediments. You need to make a holistic analysis of your business plan, taking into account feasibility, competitors, your target customers, your pricing strategy, your aggressive advertisement policies, your breakthrough innovative offerings, to add to this will be your moral attributes, your sheer dedication, your temperament , fortitude, perseverance, that would aid you to relish the sweet taste of success and wear the colours of blue- blooded entrepreneur, to be a financial baron like Warren Buffet or a marketing maverick like Kishore Biyani one day
It is a notable reality that fledglings grow up to be soaring ravens, so are the start-ups who grow up to the next behemoths