Why do a startup fail ?
Every startup has a basic plan for their short term and long term goals. However, most start-up that fails, commits several mistakes while implementation and execution of their plans. The most important thing for any business to succeed is to have a business plan which can be validated and implemented in such a way that success of each step that business keeps forward can be measured with the validated business plan.
Our Solution :
A startup goes through various phases before it attains an large market acceptance. Below mentioned are various phases and elements to be planned and implemented in each mentioned phases which is been guided by our startup mentors
Phase 1 : Ideation
Startup who just have a base idea but looking to initiate from conceptalusation to final implementation stage can seek our assistance
To form an idea or solution which either reduces time, effort, cost while performing a task or solves a problem which a large section of people face with difficulty.
Performing feasibility analysis to ensure whether conceptualised idea/solution is technically and financially feasible to a large customer base.
Giving a basic structure to the conceptualised idea/solution so that it can be developed as a product.
Building a team consisting of members from various domains with common long term goal.
Developing a Minimum Viable Product which can validated for proof of concept.
Phase 2: Validation
Those startup who has an MVP ready , can take our support for giving the startup a legal Identity, showcasing the product uniqueness before launching, developing a plan for achieving goals.
Developing a strong business plan of how to achieve short and long term goals of startup
Giving a legal structure to your startup. A business must mandatorily have legal Identity.
Critically evaluating the progress of startup and its product right from conceptualisation to participating in startup events. It’s really to evaluate before launching the product in market.
Registering and participating in various startup events and campaigns so as to gain credibility, market attention and bagging rewards and grants.
Developing a real world financial situation which startup will go through once the product is launched in market. It should developed based on multiple scenarios.
Phase 3- Early Traction
The startup team which needs traction and revenue generation have a understanding of GTM approaches .
Estimating a overall marketing budget, cost of customer acquisition etc to ensure financial viability of marketing with limited resources
Developing a strong marketing an branding plan before approaching the target market both organic and inorganic ways.
Refinement of product based on customer feedback and ensuring a great customer satisfaction.
Developing strategic partnerships with various entities and building a strong network to ensure more market presence and acceptance.
Phase 4: Scalability
Our mentors helps in making valuation and pitch deck presentation so as you make your best presentation to investors /VC’s. Once a startup starts to receive market acceptance, it should focus on scaling it’s business to a much larger target market. This can be done raising funds from investors, banks.