START UP BLACK BOX

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START UP BLACK BOX

Start up is a dream which every entrepreneur wants to make it a reality. The only nature of project with huge failures still catching on the world’s fancy is a start up. Because it promises to change the world & has demonstrated it as well. All startup nations are super successes; Israel being a shining example. Silicon Valley has helped reshape the world & has been the engine of ushering in the digital age. Still the start formula remains elusive, some treat it as black box & treat it as trying one’s luck.

India is a late entrant to this start up revolution but now it’s here to stay. They can change the IT trajectory from body shopping to products. That is the transformation the country is yearning for. So the venture to find out the most critical factor for start up success is worth a try even if increases the chances of success a few notches.

The Indian state up fraternity believes that the magic formula is the funding. Entrepreneurs make it as the only requirement & get into the ppt & presentation rounds. But over & over again, even with big funding start ups have not survived. The golden funding & the golden tap profit formula has not worked anywhere. Brokes have made the digital world of today. Garage / $25 success stories have been realities, not just inspirational stories. Innovative ideas are supposed to be killers in the world of start ups. It lights up the horizon & shoots up like a star. Obsession with one’s idea most of times leads to failure.

A research by Bill Gross on start ups throws up timing as the most important factor for start up success. 42% depends on timing. Airbnb happened with recession, an otherwise strange idea, became a success. YouTube’s predecessor was not successful for lack of internet penetration & the technical capability of video streaming. Team/Execution at 32% comes second and then comes Idea “Truth” Outlier with 28%. This nearly completes the matrix. What the start ups are generally bothered about comes out to be the last two factors in the research; business model 24% & funding 14%.

WHETHER THE START UP IDEA HITS THE RIGHT TIME IS CRITICAL.

Sanjay Sahay

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