All about Me…

Lessons for Start-ups by Successful Start-ups

Posted by vishalsinghal on February 9, 2009

Recently, I attended an event “Surviving & Winning in a Downturn” organized by one of the Special Interest Groups of  TiE-Delhi . Quiet a few good speakers presented their views on the internet penetration, businesses and surviving strategies for the same in India in current recession. However, lot of questions were also raised by audience on startups like if it is the right time to start a venture? Whether it’s the right time to start a venture? and the like. Thus, in the end Mr. Sanjeev (CEO of Naukri.com), summarised the takeaways from the whole session with following points mainly for the start-ups:

  1. Assess your situation – there are no general solutions for start-up problems.
  2. Assume right from start that you cannot raise any money through venture capitalists or angel funding investors.
  3. Find the right market and make it happen.
  4. Best time to start ventures are times of recessions.
  5. Think! Do you have a clear value proposition:
  • Who will pay me, how much money, for what?
  • What unsolved problem am I solving?
  • Am I uniqely qualified to solve it?
  • Don’t get misled by jargons, flavour of the month, fashion.

     6.     Get revenue now, not next year.

    7.     Get your peple right – especially in sales.

    8.     Make sales calls your self – lead from the front.

    9.     Know your customers well.

    10.  Focus, niche, go deep and narrow – it’s bettr to be number one for someone then to be number five for  everybody.

    11.   Prioritise break-even over traction and growth.

    12.   Over communicate with your team.

     13.  You are the glue for your start-up in a downturn.

     14.   Does competition really get hurt more than you in a downturn?

All the above points are quiet valid and if followed properly, can do wonders.

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