KEY POINT THE STARTUPS SHOULD CONSIDER TO MOVE FORWARD

The start-up ecosystem is however fairly at its bud stage in India and also  needs to learn from its global counterparts. International tie-ups are considered as a great way in order  to harness the global learning in the Big Data for Indian industries. It thus  also provides an excellent opportunity for the  start-ups in order  to connect with   mentors, entrepreneurs and the investors on a global level.

Startups are also full of promise and excitement, but when we look closely , we will realise that  the flip side is that , they’re also full of risk and uncertainty. There are thus  a lot of great ideas out there that somehow thus  never get off the ground, and, also conversely, there are plenty of questionable ones that can also  become massive successes.

The purpose of this article is to make the reader aware of the key points which the startups should consider in order to move forward .

Thus , here are a few of the most valuable lessons which one should learn in the process of creating an AirBlade, building the rink prototypes, and then  launching their first kickstarter:

1. Expect the  challenges : Launching a new project is thus considered as extremely challenging The early days of a new idea are however consider as  exhilarating and also exciting. But as one starts making those ideas as  a reality, one will also be met with the constant challenges.

2. Expect more challenges : The farther down the road to the  success which one would thus get, the bigger would thus  the challenges become. One must also plan the best which one can, but the best preparation is one that however  allows in order  to stay nimble enough in order  to tackle each new challenge as it thus comes.

3. Don’t shy away from the expensive projects, either : Constructing the rink prototypes was thus a lot of work and it was also expensive. But creating something new thus  always takes time and also  money. One due diligence, but one also doesn’t  let a hefty price tag which will be the only thing which is standing between him and success.

4. Listen to the smartest people : One must also  bring in people who are however  smarter than them  and should  actually listen to them. It however  takes many roles in a company in order  to make it a success. One must Find the talented people with the  expertise in different areas of their  business, ask them for their insight and the advice, and then listen to them. This will take one  further than he think.

5. The idea

The strength of the founder's idea might however seem to be the biggest factor which is  responsible for a business’s success, but it’s thus  really only a small element of as to how things might turn out.

6. The leader(s)

Leadership is however considered as  important in startups. Leaders however  make the decisions, set the vision and then inspire people in order  to work harder for a group’s goals. One must put an incompetent leader in place, and then  not only would the  high-level decisions be made less effectively, but the morale of the group could however  be put in jeopardy. On the other hand, a skilled and an  experienced leader can also turn even a weak idea into a successful one.

7. The team

Entrepreneurs are however  important, but they thus  rarely accomplish great things alone. Successful businesses however  employ anywhere from a handful to the  hundreds of people, and those people will thus  be the ones who are however  maintaining the business, driving innovation and then executing the  high-level goals.

8. The capital

Working capital is however  important; so are one’s early stages of his funding. One must not panic if one can’t find an investor -- personal and the familial investments are the  possibilities. And one must not rule out the possibility of opening the  line of credit. Once the credit is secured, one must also remember in order  to keep an eye on the  cash flow: One wrong move here could thus put the cash into a negative territory.

9. The plan

The plan is required to involve which is  more than just the core idea. It also  includes their goals, their  targets, their operations and more. Everything which is  written down in one’s  business plan however counts as part of his  “plan,” and the degree to which one had  researched and has fine-tuned his  plan will greatly affect the chances of an  eventual success.

10. The execution

That being said, a plan is thus  only as valuable as its ability in order to be executed. If one has   a great plan, but one must botch its execution, his entire enterprise could thus  be compromised. On the other hand, if one has an adequate plan and then  execute it perfectly, one will however  have a solid leg in order  to stand on and also a key understanding of what did and didn’t work from the original concept.

11. The timing

Timing is thus  important from a competitive perspective, and it has also  led many businesses to their prominence despite of  a chaotic and a busy market at their time of entry.

12. The crisis response

No matter how one will plan or either  how hard one  works , something is however  going to go wrong for sure . How one would  respond to a crisis is thus  far more important than how likely one is to avoid one. One poorly treated crisis is thus  all that  it takes in order  to put a company under, so one must always think carefully about the response plan.

13. The marketing

How one packages and markets his  business matters. An inferior product that’s thus  branded in a more appealing, exciting, and a  unique way  will  thus always outsell its superior product that thus happens to have plain and a non-memorable branding. This point may however  seem superfluous, but it also  critically affects the  customers’ buying decisions.

14. The growth

Finally, the path which one  chooses  towards the growth plays a significant role as to  how one  ends  up.One must grow too fast and one would  stretch themself  thin. One must grow too slowly and would also never get anywhere. So, one must find a balance, and should then treat the  growth carefully.

Ultimately, in order  to succeed as an entrepreneur, one is thus required to be willing in order to tackle the challenges head-on and should not get deterred by the huge barriers that tthus stand in his  path. If one knows that going into it and one is  willing to fight, one is  already ahead of the game.

Thus , the founders of LegalRaasta a startup, have resulted which  legal services after overpowering all the hurdles have resulted  in providing more than 100 + services. One doesn’t even have to go out , as it provides online services .

Choosing LegalRaasta is beneficial as:

1. It has , 30+ offices in India

2. It has 10+ years experience

3. It helps to save your time

4. There is a cash back guarantee

Some of the services which it provides are :

1. Tax Filing/TDR - GST Registration , GST Return, ITR , TDS Return filing, Business income return , Bulk return filing , Revised return filing , Respond to tax notice

2. Company Formation - Pvt. Ltd., Limited Liability Partnership (LLP) , OPC registration

3. Registrations - DSC, Trademark, Patent , Copyright

And also many more services .

This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for GST Software, GST Return Filing, GST Registration, Section 8 Company Registration, Nidhi Company Registration, IEC Registration, Fssai License, File ITR Online.