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25 tips to ensure YOUR start-up is a success!


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balamurugan g
Can be made into 5 points - unnecessarily expanded to 25
by balamurugan g on Sep 28, 2012 12:21 PM  | Hide replies

First is about people & the team
1. A great team

7. Workforce diversity

8. Quality of the board members

12. Recruit the right people

22. Power distance


Second is about business knowledge
2. Know your business

3. Assess your start-up

4. Assess the competition

9. Test your idea

11. Create or cater a need

19. Understand the legal ramifications

21. Creating a brand

Third is about approach/mindset to business
6. Integrity

17. Encourage failures/success alike

18. Sense of urgency

20. It takes time

25. Be flexible

Fourth is fiscal descipline


10. Check the source of funding

14. Working capital and finances

15. Equity of company

24. The right pricing strategy

Fifth is handling failures
5. Swallow your ego

13. Work on the exit plan

16. Uncertainty

23. Know when to step back

Even there, few are contradictory e.g. -
18. Sense of urgency

20. It takes time


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My Opinion
Re: Can be made into 5 points - unnecessarily expanded to 25
by My Opinion on Sep 28, 2012 05:25 PM
But it doesnt make business sense for rediff. the more page they create the more ads they can put.

Remember we are in commercial world and forget the yester years of fair journalism.

They are all self serving aka paid news. (And that is why you always see congress praising and BJP bashing news no matter what because congress parts some of corruption money with media)


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Vineet Nagar
Single Most Important Thing
by Vineet Nagar on Sep 27, 2012 07:16 AM

Some very good ideas and points.

The single most reason companies fail is under-funding of a company. People don't realize the daily cash it takes to run even the smallest operation. So, if you are underfunded to begin with than you will get stressed out, fight for daily survival and quit. So, start with a reasonable cash position. Rarely, a start up will start making any money from day one. So plan for long hall - at least try to cover initial expenses.

Start with good cash in hand and remember to price your products well and don't undersell because it is better to have just one profitable customer than have 10 loss making customers. You aren't in business to make losses!



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Communal Award
Good list
by Communal Award on Sep 26, 2012 11:35 PM

.

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Aseem Shrivastava
Inspirational
by Aseem Shrivastava on Sep 26, 2012 06:17 PM

A wonderful article.Most of the aspiring entrepreneurs know what to do how ever they don't know how to do. This is exactly what the writer has explained.Would like to thank Mr.Apoorve for sharing his experience.

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paparjun
Very good one
by paparjun on Sep 26, 2012 04:49 PM

very informative and good article after a very long time on rediff. very useful.

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THANGAVELU
Well documented
by THANGAVELU on Sep 26, 2012 11:16 AM

In a capsule form, all details are clearly given comprehensively.

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anjalygodbole
Comprehensive
by anjalygodbole on Sep 26, 2012 10:07 AM

Great to see young indian entrepreneurs sharing their learnings and promoting entrepreneurship. Thanks for this informative piece.

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Rajeev Fadte
Nice Article
by Rajeev Fadte on Sep 26, 2012 09:48 AM

Beautiful article well written.

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sumita
Good article.
by sumita on Sep 26, 2012 09:16 AM

GOod article...even see better startup by indian....search on google...compare my ticket...u will find good site...

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