Startup is an emerging company with high growth potential, it is designed to grow rapidly
with scalable business model and built to solve a problem.
In Other Words: Startups are young companies that are formed to create a one-of-a-kind
product or service, bring it to market, and make it compelling and irreplaceable to clients.
• Identify the problem you want to solve through your startup.
• Brainstorm your startup idea
• Do market research
• Understand the need of the customer to locate your right customer
• Create a business plan and create a business model
• Build an impressive and dedicated team
• Create a marketing strategy for your product
• Prototype your product and launch your product
Small businesses grow within a limit and this happens only within a certain circle of
customers. Whereas startup does not put any limit on its growth.
And it focuses on
increasing its market share as much as possible.
• The Startup should be incorporated as a private limited company or registered as a
partnership firm or a limited liability partnership
• Turnover should be less than INR 100 Crores in any of the previous financial years
• An entity shall be considered as a startup up to 10 years from the date of its
incorporation
• The Startup should be working towards innovation/ improvement of existing products,
services and processes and should have the potential to generate employment/ create
wealth.
An entity formed by splitting up or reconstruction of an existing business shall not be
considered a "Startup"
An entity would cease to be a 'startup' upon expiry of:
a) 5 years from the date of its incorporation/ registration, OR
b) If its turnover for any of the financial years has exceeded INR 25 crore; OR Startups
would be required to intimate DIPP of any such cases within a period of 21 days.
Startup is an emerging company with high growth potential, it is designed to grow rapidly
with scalable business model and built to solve a problem.
In Other Words: Startups are young companies that are formed to create a one-of-a-kind
product or service, bring it to market, and make it compelling and irreplaceable to clients.
• Lifestyle Startups: Self-employed folks.
• Small Business Startups: Feed the Family.
• Scalable Startups: Born to Be Big.
• Buyable Startups: Born to be bought.
• Large Company Startups: Innovate or die.
• Social Startups: Mission – Difference.
• Concept/Ideation
• Customer Discovery
• Idea Validation
• Minimum Viable Product
• Product-Market Fit
• Growth Establishment and Scale up Stage.
• Maturity and Possible Exit
• Prepare a checklist
• Search for a partner who shares your values
• Look for someone with complementary traits
• Search within your social circle
• Attend startup events
• Join a business networking group
• Tap into the power of founder dating apps
• Move to a city with a good business ecosystem
• Seek help from mentors
• Join a co-working space
• Ask Family or Friends for Capital.
• Apply for a Small Business Administration Loan.
• Consider Private Investors.
• Contact Businesses or Schools in Your Field of Work.
• Try Crowdfunding Platforms to Find Investors.
• Be results oriented.
• Identify where you are versus what you need.
• Manage expectations.
• Hire coachable reps.
• Set high, but realistic goals.
• Incentivize your team.
• Make learning a priority.
• Know your weakness and hire someone who complement your strength.
• Obstacles aren’t excuses.
• Goals are insanely important.
• Validate your assumptions
• Manage your time and work accordingly
• recognize that success is a process
• Treat your applicants well.
• Think about the cost/benefit before your hire.
• Try a freelancer.
• Get potential employees with previous startup experience.
• Use content to strengthen your employer brand.
• Use an employee referral program.
• Identify the need.
• Identify your market.
• Position your Product as the Answer.
• Identify your first customers.
• Use your Network for Acquiring First Customers.
• Founders do the marketing.
• Listen to Your First Customers and Follow Up.
• Get to Know Them
• Be Clear and Concise
• Start With Background
• Sell Your Method, Not Your Product
• Ask Questions to Build Trust
• Discuss the Person Who Made the Introduction
• Find Out What Caught Their Eye.