Startups in India is a space which is not dared by majority. The reason is risk? Not necessarily.
The possible limitation comes from elsewhere; education, mindset, ideas, funds etc.
Startups are not only business, they are a fusion of NEW (1) idea, and NEW (2) implementation of the idea.
The combination of these TWO NEW, together builds a startup. To simplify, we can say that a startup is different from what we already do in our day-to-day lives.
People tend to get more comfortable doing their own jobs and earning a decent paycheck.
But venturing into the world of innovation and inspiration may sound sweet, but it may not be as comfortable. Moving out of one’s comfort zone requires a different mindset.
And this mindset gets build in an individual as a result of social influence, education, aptitude and at times due to experience (good or bad).
Not everyone can dare to venture into the world of infinite possibilities, because they are comfortable in what they are already doing (mostly job or a known business).
This is also not easy by any means. In fact, in many ways than one, doing a job is lot tougher. Building a startup and running it successfully can be easier.
But what is essential is the mindset.
India has this mindset. At least the number of inspirational startups that are seen flourishing in India indicates this trend.
Why we are seeing more inspirational startups in India?
India is a country having 49.9% of population below 25 years of age (72% is below the age of 39). This is the reason why India is often referred as a country of young. Compare this with China, it has 30.3% of its population below 25 years of age. USA has 33.9% of its population below 25 years of age.
New ideas, and newer ways of implementation is more likely to spur in the minds of young people. And India has a whole lot of young people.
What India has MORE, which has further taken it ahead in the startup race is, its premium educational institutions and democratic set-up.
Institutions like IIT’s, IIM’s, etc are such pockets of excellence where most of bright minds in India like to seek higher education.
It is the collection of bright minds in one space (IIT, IIM, DCE, BITSP, NIT’s etc), that is building the needful mindset of the founders of the potential startups in India.
Initially, the best and bright Indian after completing education from IIT’s, IIM’s etc, preferred to go abroad to fulfil their passions and dreams.
Few such names are: Vinod Khosla (Sun Microsystems), Nikesh Arora (SoftBank), Vic Gundotra (ex.Google), Victor Menezes (ex.Citigroup), Sundar Pichai (CEO Google), Arun Sarin (ex.Vodafone), Satya Nadela (CEO Microsoft), Sanjay Jha (CEO Globalfoundries, California), Shantanu Narayen (CEO Adobe) etc.
This list is endless….I am sure I have missed some very deserving candidates…sorry but I have to stop somewhere…:)
Today, a lot of qualified Indians, with bright ideas, are now preferring to stay home and fulfil their dreams by launching great startups in India.
What drives the startups?
How to bring a change?….
What can be done in a more user friendly way?…
What people want but does not have?…..
Apart from the educational qualifications, what drives a startup is answer’s to such intriguing but simple questions.
These are such questions which are basic, but are also like windows to profitable business ventures.
Starting the same thing what is already established and running is also a business. But it cannot be classified as a startup.
Startups may not do a whole new thing; but they will at least do the same thing differently.
The liking for making a difference, serving their customers, and in-turn making tonnes of money for the team drives the startups.
But apart from these, the biggest driver for any startup is their passion for their work. They love the work that they do.
Their passion for their work is so HUGE that, even if they are making no-money (initially) they will still remain self driven.
This drive comes from the love for their work and a belief that, what they are doing is worth it.
The passion with which startups manage their business is also spiritual. It’s not only about making money.
See the profile of people who do startups, they are very-very young people. One cannot expect them to have a evolved mind like aged and old.
But still they achieve success that even people with 30/40 years of experience have not seen, why?
This kind of success cannot be fueled only by money. Spirituality plays its role.
When a business is done for a noble cause, with ethics, by ensuring cumulative growth of all stakeholders; then the money making automatically happens as an after effect.
Here the money is not the driver, it is only the end result of the GOOD WORK BEING DONE.
A cricketer who focuses only on taking a 10 wicket haul, he will probably never get it. But a person whose focus is on practice, fitness, learning and discipline, for him/her, a 10 wicket haul is more likely.
Learning to drive a formula-1 car FAST should be the goal, reaching the podium will eventually happen.
Being passionate about whatever they do, makes these new breed of startups in India so successful.
Startups can be only from IIT’s & IIM’s alumni?
Do not expect to get NO for an answer.
An honest answer will be 75% YES and 25% NO.
As the data’s prove, students from premier institutes are more likely to achieve BIGGER success.
They have it in their genes, and they also made it happen because of their potential brain power.
Then what about other people? What about common men? They can do a startup?
Startup can be done at any level.
Remember, what we said about startup in the beginning…
A new way of doing anything, which also makes business sense, can be transformed into a startup.
It may not be as big as FlipKart or PayTM, but it can still make money.
Key for non-IITians etc is to learn a new skill, “The Power of Thinking Small”.
People who has limited mind utilization capacity, but would like to do a micro-startup of their own must master this skill first.
As NIKE says, JUST DO IT; one must not waste too much time in pondering and waiting for that PERFECT TIME.
In fact, that perfect time will never come.
If you are in job or (even jobless), and want to do something different on your own, the right approach will be to find answers to the following QUESTIONS.
Clear answers to these small questions will help one to take the first step in the right direction:
#1. What are my strengths, which I can follow passionately?
(example: reading books)
#2. How to convert passion into meaningful work?
(example: writing reviews)
#3. How to tell people about my work?
(example: launch your website and post your reviews there…)
#4. How to make money from my work?
(example: use Amazon affiliate network to sell books online…)
#5. How to grow my sales?
(example: read more books and write more reviews…)
See….when a particular work is driven by one’s strengths and passion, sustainability and growth automatically happens.
A business which is both sustainable and can grow with time, is bound to make money.
Even small ideas can make tonnes of money for its founder.
The key is to ask right question, at right time, and then find the right answers as quickly as possible.
Team-up and launch a startup…good idea?
Yes, it is a good idea. But there are too many buts here….
You can find young men hurdled in cafes, discussing startup ideas. On one hand it is a good culture, which must be nurtured.
But discussions should also translate into actions.
The problem with discussions in teams is that, they are just discussions. Often, there are no churning of ideas that’s taking place in team discussions. What thrown on table are only counter questions and fruitless arguments.
Teaming should be done after a brief business idea has already been conceptualized.
Ideas often comes to mind when one is at peace with self. Great ideas often come to people while they are jogging.
Great solutions often come to mind early in the morning when there are no external disturbances.
The point is this, ideas of a great business cannot come to all. So it is pointless to expect to build business ideas in a round-table full of people.
Generating idea will happen alone. Doing detailing will happen best in teams.
So, till the a good business idea has not surfaced, TEAM may pose a limitation. One must keep a watch on this aspect of having team-meetings. If team discussions are going no-where, better is to stop having them.
What is suggested here is to take the ownership and build the idea by oneself (alone, at peace).
Do not be dependent upon team gathering meetings to kick-start and generate ideas about start-up.
Giving oneself a target to do the thinking part alone is a better idea.
Build business plans, present it to oneself at least hundred times. Become your own devils advocate. Criticising and finding faults in self will be taught, but it is necessary.
Once you are satisfied, present it to family. When you are satisfied, call your team and present it to them.
The problem is, not everyone can think clearly and conceptualize ideas. Hence it is not wise to rely on others to generate new ideas.
Whether it is the matter of THINKING BIG or THINKING SMALL, taking the onus on self and starting to frame a good business idea by self is a better option.
This is the first step.
Once the idea is ready, explain it to your team, and then let the team (including you as the driver) to take over.
No matter how many partners a business has, there will always be one LEADER.
Selecting an able leaders is also a very essential factor in the long term sustainability of a startup company.
List of few inspirational startups in India 2018
- Flipkart – Binny Bansal
- Paytm & One97 – Vijay Shekhar Sharma
- Snapdeal – Rohit Bansal
- Olacabs.com – Bhavish Aggarwal
- Quikr – Pranay Chulet
- Zomato – Deepinder Goyal
- Grofers – Saurabh Kumar
- RedBus – Phanindra Sama
- Urban Ladder – Ashish Goel
- Pepperfry – Ambareesh Murthy
Check this link to get a detailed list of over 20+ Startup companies in India in tabulated form…
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