Ditching the millennial business theories and bringing modern trends to the business set ups, the modern world start-ups have brought a fresh edge and positive vibe in the business world. In the fast paced economies facing plethora of changes and cut-throat competition, start-ups have paved their way to survive, strive and succeed in the dynamic and ever growing business world.
Tracing them back, if we look at the origin of startups, we find that the term
“start-up” meaning “upstart” dates back to 1550. Now, in the sense of “budding company”, it was first used by Forbes magazine in the year 1976. There is as such no particular example of the first startup of the world. If you look back, any company, when it was in its initial phase, can be called as a startup.
Amazon, Apple, Facebook, Adidas, Starbucks, etc. are all the companies which are major players in the market today but then, they too, at some point of time, were just beginners or to be more precise, startups.
Is your idea diverse, relevant & productive?
The major companies have an option to cherry pick a few employees from a diverse set, whereas a startup has diverse options to pick up and work upon.
The work doesn’t demand some exceptionally brilliant skills or very high acumen, all it requires is an idea. An idea, that is diverse, relevant and productive. Diverse in terms of the thought, relevant in terms of its applicability and productive in terms of its outcome. What follows next is an ideation process and implementation of the ideas.
Impressed by the productivity and fresh outlook of these companies, the government of India has decided to nurture the upcoming talent. To revolutionaries the process, a new initiative called startup India has been started by the government which focuses entirely on these startups. The website talks about the eligibility about classifying businesses as startups, eligibility for Startup Loans and other services being provided by the government.
Leading the course
As Albert Camus writes, “Real generosity towards the future, consists in giving all to what is in present.”
Startups use this very principle to make sure they succeed well in their objectives and come up with positive results. The job of leadership today is not only to make money but also to make meaning, and startups these days are more inclined towards reaching their goal, i.e. to make their idea a success initially and then focussing on making money.
One of the major reasons behind the success of these budding companies is the fact that they very smartly combine the “wisdom” of “great philosophers” from around the globe and apply that aptly in their businesses, setting benchmarks, and thus raising the standards for others.
Another thing is, most of the startups today are successful because they used the right opportunity, to put it better, market opportunity, and played their best shot which led them to their success. Management of finance and right estimation of risks are the 2 basics that need to be kept in mind before venturing into the business.
The real example
Let’s take the example of Reliance Industries Limited, a major player in the market with its business spread over different industries creating value and money simultaneously. The flagship company, Reliance Industries Limited, a Fortune Global 500 company, is the largest private sector company in India. Dhirubhai Ambani founded Reliance as a textile company and led its evolution as a global leader in the materials and energy value chain businesses.
Let’s conclude
“Be the change that you want to see”, as Mahatma Gandhi said, applies to these start-ups. To conclude, these startups are the modern world eyes, that behold the beneficial virtues of future.
This article has been contributed by Himanshu Jain, CEO, LegalRaasta- an online portal for GST software, GST Return Filing, GST Registration, Section 8 Company Registration, Nidhi company registration, IEC Registration, Fssai License.
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