As a Startupreneur, Are You Focusing on These 5 Aspects? Here are 5 aspects, start-up entrepreneurs must never shift their focus away from, come what may!
By Bhavya Kaushal •
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Start-ups in India are mushrooming and emerging from every corner of the country. However, the job of a start-up entrepreneur is much more than just having an idea and awakening to it.
Here are 5 aspects that entrepreneurs should concentrate on before or while executing their start-up idea.
The Pitch
How you pitch your idea to the investors or people who are going to invest in your start-up is one of the most essential aspects that a startupreneur should never neglect. As an entrepreneur who has millions of aspirations, investors want to see if you are responsible enough to make fuller utilization of the funds that you receive. Ownership, flexibility and willingness to learn and acquire new skills are also some of the features investors look for in entrepreneurs of start-ups.
Growth
Funding or raising capital is that part of the business without which start-ups cannot survive. However, the goal of entrepreneurs shouldn't be to only raise capital while forgetting the fundamentals of their business. Entrepreneurs, after tasting success in the initial years, get carried away by the "high valuation game." The moment their focus becomes making their business enterprise a million-dollar or billion-dollar company, the day is not far when they may have to sell off everything. Therefore, always focusing on sales, growth and product enhancement, while raising capital as and when the need arises, is the right way to do business as a startupreneur.
Team
Having a dream team, consisting of like-minded people who share the vision of the founder is a win-win for start-up entrepreneurs. Hiring hard-working talent is not enough, employing smart people in and for your organization is what completes the role of a leader and entrepreneur to ensure the sustenance of the business. Moreover, having the backing of the smart and creative team will give rise to innovation and in turn open gateways of growth and profit.
Mentors
As a start-up entrepreneur, it is foolish to give in to the mindset that one knows everything. Mentors, accelerators and incubators provide a space for start-ups to make mistakes, learn and most primarily, to grow. In research by Sage, it was noted that 93 per cent of the start-ups admitted that mentorship is instrumental to the success of start-ups.
Public Relations
A start-up cannot work in isolation. It cannot go on to do great things and accomplish great success without the world knowing. The P.R. machinery works like a bridge between the start-up and the audience and even the investors. Media coverage influences the masses at large in a positive way and also helps the start-up gain recognition in the market.
Moreover, when an entire section of people recognize you, it contributes, to building your brand and uplifting the name of your start-ups.
Editor's Note:
The Start-up Kick-off provides start-up entrepreneurs just the right opportunity to put the aspects of Pitch, Growth, Team, Mentors and Public Relations into action.
About the kick-off: Masters & Mentors will come to life when Entrepreneur hosts its Continuing event series engaging progressive thinkers , influencers and entrepreneurs in a riveting discussion moderated by our Editor's. Coinciding with the goal of the program in print and online, the live events provide a chance for hundreds of entrepreneurs to exchange ideas and learn how to strategically enhance business plans.
Entrepreneur 2019 is just the opportunity start-up entrepreneurs are looking for! The start-up kick-off can be the pond of solutions and answers that startupreneurs need.
Entrepreneur 2019 is the flagship annual event of Entrepreneur Media. It is the final destination for entrepreneurs, investors, disruptors and innovators where they discuss, debate and dissect what the future holds in a vibrant atmosphere. In its Ninth Edition, Entrepreneur Media brings together the Movers and Shakers of India and Asia Pacific. Click here to know more.
