Feedbacks: The New Stepping Stone to Success of the Start-ups
Date: Wednesday , July 02, 2014
Saif Partners is the leading private equity firm that has been investing in India since 2001 and with $1 billion of investments under its management.
Gone are the days where the start-up space was considered as a future-less business. As the time went by, the era changed and so did the start-up ecosystem in India. We are now looking at that vibrant India which relishes the growing start-up space. The cost of creating a company or the product, which was once a threat to the entrepreneurs, now has gone down leveraging more and more births of start-ups. With the escalating numbers of venture funds, early stage funds and angel funds, the access to capital has become smoother.
Bringing the Customer under Limelight is Productive
As a major equity firm, our custom of funding to the appropriate start-ups depends upon numerous major facets. Currently the major challenge is having fewer companies that solve customers\' woes. So primarily, we look for a company which focuses on the real pain-points of the customers but not on the market size. Because we believe ideas that solve a strong and real pain point of the customers will be productive in the long run. Even though selecting an apt talent in the pool of talents is a biggest challenge for the company, it becomes very essential to team up the right people for a perfect roadmap to the success. In this context, having a strong and solid team becomes an added benefit. The structure of the unit economics of the little grown-up company turn into a foremost aspect for the funding.
On the negative side, there are lots of companies which still need to espouse several alterations. The companies which come with the only motive of magnetizing the customers with their best and perfect products do not comprehend on the fact that they will miss out the opportunities of fine-tuning the products into a more ideal one. Accordingly, they take a long time in releasing the products into the market. With no sense of market, target customers and product distribution; lot of companies plunge into the market with one version of the product in hand.
Mobile Platforms: Leveraging Success
India is witnessing a massive renovation in the whole start-up ecosystem. According to me, the mobile platforms are the crux of the transformation. The technology product companies across mobile hold a brilliant future as they are scaling up rapidly. Mobile technologies are ushering an ideal ambiance to the people who are still thinking of their future in the emerging start-up space.
My Guidelines for the Next-Gen Entrepreneurs
Being a start-up entrepreneur comes with wings of challenges attached. Those who are still in the way of starting their career as business tycoons or start-ups, something that involves mobile technologies would be a major survival funda. While those who are in the market already with their innovative ideas, they should try to get the feedbacks for their dream project and mould those into a perfectly-tuned product. This will lead to launching a product much needed by the market. (As told to Kavitha G)