Entrepreneurship–this word symbolizes so many dreams and aspirations, so many success stories and struggle, ups / downs but at last, a story that each entrepreneur want to share. It doesn’t matter what size startup it is or where it is located. What matters is that it has an impact on lives and is making a difference. This is something that I can attest to, having worked across India and internationally.
It doesn’t matter that if you are located in Silicon Valley or the UK, a bustling Indian metropolis, or a small community. It is possible to start a viable business. Many entrepreneurs are asking me if it is possible and recommended to create something in India’s small towns. In this Internet-first age, geographic constraints don’t matter if your business solution or offering solves a problem.
We all grew up in small towns have aspirations and dreams to build something that Bharat and its viewers can enjoy. We have the resources and opportunities today to turn our dreams into reality and to see results. I am sharing my entrepreneurial journey to build a content platform that Bharat can use from a small community.
A problem statement is a critical component of your business plan.
Unable to find the actual market demand is the biggest reason businesses fail. The key to any company’s success is solving a critical problem. Your core value proposition is based on this. Your stakeholders and investors will also be trying to determine the impact that you will make. Without solving a problem, this cannot be determined. It is also the key to making your startup scalable and sustainable. This makes your business plan ten times more effective.
It is not limited to funds and does not have to be constrained by geography.
Money is essential to get your idea off the ground, no matter if you can bootstrap it or have an army of investors backing you up. It’s not the only factor that can determine your success. It takes many essential but crucial ingredients to make a sustainable product. While it’s apparent that you must have a good understanding of the industry and market you plan to work in; mentors are equally essential to help you spot trends and opportunities that may not be apparent to other players. You will achieve your success metric if you have the correct values in your organization and a passionate team about your mission. Your reputation and sustainability will be enhanced by your impact on society through your offerings or the jobs that you create. Not least, a backup plan or exit plan. In this highly competitive market of startups, entrepreneurs must take intelligent risks. But, they also need to have a plan for a backup to make sure you’re still financially viable if something goes wrong. Zoom calls and the Internet make it possible to meet with stakeholders, build a company, and create jobs.
Be comfortable with your discomfort.
It is not easy to start and grow a business. It’s not an easy task. This is a challenging job, but it’s worth every sweat when you see it moving in a positive direction. Accept discomfort and fear. There will be some anxiety if you are working towards a new future that you haven’t seen yet. However, if you’re creative in your approach to building your startup, it will be a success.
STAGE was created by sharing small-town stories. It doesn’t mean that we have to be in Delhi or Mumbai when creating content for the Internet. Because of the popularity of smartphones and internet access, our audience can be found in every country.
Never give up
The stages of an entrepreneur’s journey are similar to human life. Each step is full of obstacles that make it difficult for entrepreneurs to move forward. But there is an excellent conclusion to the present action. This signal gradually and continuously shifts gear toward progress. It would help if you weren’t overly aggressive when it comes to making progress. Paytm was a great example of perseverance and hard work. Although it was not successful right away, it took time for it to become a success. The founders of Pokemon Go had to work hard before the game became a worldwide phenomenon. It takes time to create a profitable brand. Entrepreneurs need to be patient. They should never lose sight of their vision and mission.
Stay ahead of your market. Always experiment
Innovation is key. It would help if you keep up with the latest trends, regardless of whether you are in Silicon Valley, Indore, or running a hardware shop or an Internet startup. Metros and business hubs have witnessed many business models, but small towns can offer a wealth of alternatives. You can also learn from consumer behavior.
Importance incubators & accelerators
Open to assistance. Many entrepreneurs believe they have everything under control. But, even though they may have the majority of it, there are still many things to consider. This is where incubators or accelerators can help. These experienced founders can share their experiences and help you build your startup from scratch. They allow you to find the right path, whether it understands market trends, finding the right resource, or being in the right place at the right time. You can even be based anywhere you want and still get the guidance of experts.
Every entrepreneur has their path and will learn along the way. However, budding entrepreneurs must share their experiences, learn from one another, and contribute to the overall entrepreneurial ecosystem.