Seven Actionable Steps to Build a Successful Startup in India

Seven Actionable Steps to Build a Successful Startup in India

Anyone can get a few bucks together and set up a startup. However, building a successful startup is way more complicated.

It’s even more complicated when you’re trying to build a startup in the Indian ecosystem. The tech boom greatly resonated in India, with many players springing in several sectors, from transportation, ecommerce, fashion, and even esports (with fascinating opportunities stacked on https://bookmaker.xyz/esports/csgo).

These factors alone already put Indian entrepreneurs at a disadvantage, but you can still leverage these factors to help you build a successful startup.

In this article, we’re going to provide you with seven actionable steps you can take to build a successful startup. Let’s go!

1. Have a Decent Product

Big brands have built solid reputations over time for having some of the best products in their respective industries. Apple is known for Smartphones, Amazon is known for shopping, and Hp is known for computers.

One thing that remains constant is that these brands offer quality products to their customers. If you want to build a successful startup in India, ensure that the product or service you’re offering is top-notch.

You don’t have the luxury of marketing using a famous name; you’re going to attempt to steal loyal customers from already established brands. The only way to entice your customers is to have a top-of-the-line product.

2. Hire the Right Team

Any startup needs the right team to become and remain successful. If you don’t hire the right people, your brilliant startup idea might end up being one of those “would haves and should haves.”

To prevent your startup from going into extinction, you need to surround yourself with people who have similar goals and motivations.

It’s also critical you don’t hire based on personal preference, hire people who can get the job done, not just because you take a liking to the person.

3. Have a Steady Source of Income

This is one factor that a lot of entrepreneurs ignore, but it’s also one of the most crucial. When you’re running a startup, funds are rarely so accessible –especially at the earliest stages.

You’re going to deal with mounting bills that are solely yours for the taking.

Unless you have some hedge fund or rich Uncle backing you up, it’s crucial that you have a steady income source.

You should be able to take care of your personal needs and also provide cash to run your startup without going bankrupt.

Bankruptcy might just spell the end of your startup journey; it’s important to avoid it.

4. Market your Product Strategically

The only way potential customers will discover your product is if you show it to them. You might have a decent product, excellent prospects, and top-notch teams, but if you lack a good marketing strategy, customers might never discover your product.

Strategic marketing here implies showing off your products to the right audience.

If your startup in India is, let’s say, an Alzheimer’s testing startup company, you’re not going to get results advertising it to teenagers at the mall.

Instead, you’ll get much more results marketing it to companies with websites, mobile apps, infrastructure networks, etc.

5. Network with Fellow Entrepreneurs

The value of networking is often under-emphasized. However, meeting up with like-minded people allows you to meet potential clients and employees.

You can go for webinars, conferences, meet-ups, hackathons, talk shows, etc.

The goal here is to meet people. The type of event is irrelevant, provided you meet up with folks with similar goals and aspirations.

Networking also improves your social skills, so that you can interact much better with potential clients.

6. Make your Customer Service Top Notch

We can’t count how often customers have abandoned a service because the customer care was terrible. If you want to lose customers, give them quack customer service, and your customer base will shrink into thin air.

You’d be surprised companies with less impressive products can win over customers due to their customer relations.

If customers are satisfied with their experience with your product or service, they’ll certainly come back again. This doesn’t take away the fact that you need a good product, but your customer service has to be even better.

7. Cultivate strong partnerships

At the growing stage of your startup, partnerships might not seem necessary, but they become inevitable the moment your startup starts expanding.

Making valuable partnerships is one of the most efficient ways of scaling your startup.

However, not every partner would provide an accelerated growth experience. Some partners are just impossible to work with, while others won’t provide you with the level of impact or influence that you need.

The goal here is to make good partnerships. You can identify good partners by looking at their offers, projections, past history with other companies, etc.

Rounding things up, there has never been a better time to establish a startup in India. Technological advancements are peaking, the market is incredibly large, investors are shifting focus to the continent, and a lot more.

However, establishing a startup and building a successful startup are two different things, but they are not mutually exclusive.

If you’d like to know how to build a successful startup, the first step, as always, is to start now. Remember, you can never be fully prepared.