How Processes Can Help Startups Succeed

Hardik Harsora, Co- Founder, Effex Business Solutions
Thursday, January 19, 2017
Hardik Harsora, Co- Founder, Effex Business Solutions
Headquartered in Mumbai, the company proffers consultation service to the businesses in taking informed decision implement systematic processes operated by efficient and well-trained staff.

As India witnesses more and more startup companies with innovative and path-breaking ideas tasting success, unfortunately, the count of startup failures is much higher. According to data analyzed by Delhi-based research firm Xeler, 40 percent of startups died in the last two years in hot sectors like logistics, e-Commerce and food technology alone. Add to that other sectors and the ones struggling badly in each to sustain; the numbers would easily surpass the ones who made it. While lack of innovation and over-crowding are likely attributes to such failures, there is one more lever which is unabashedly ignored. This lever is the use of power to be able to predict what may possibly go wrong in the business, to what extent and by when. Young entrepreneurs are passionate about their ideas. A lot of them decide to start an entrepreneurial journey because they have been part of a certain industry at managerial positions for a good number of years and feel they can now get on the driving seat.

I have seen startups being over confident on how they will manage the business moving forward. Most are not even aware of what adopting Business Process Management encompasses, leave alone the benefits it brings. Organizations realize the dent once it occurs. These cavities could be cost related or efficiency related. Corrective actions are then taken but there is hardly any bandwidth left in most cases. The damage is done and there is only marginal reversal that can be managed. Let us consider examples of some key startup challenges, be it need identification, finding the right team for execution, customer acquisition, customer retention and so on. Startups require help to address all of these challenges.

Propel as an approach can help startups on three aspects:
  • Growth planning

  • Performance Management

  • Problem Solving

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