India is a country where people are having lots of new ideas and the
youth is always ready to take the risk to implement those ideas and make
them as a successful business. Each year thousands of new start-ups get
registered in India by entrepreneurs to implement their ideas and build
a successful company. But when we see the success ratio of this
start-up, it is a bit shocking that only 4% companies out of all these
start-ups are able to survive up to 4 years or more. Rest of the 96%
companies are either closed before 4 years or are taken over by other
companies. This is something interesting and if upcoming start-ups can
overcome this 4 basic challenges then for sure they can build million
dollar company. There are 4 basic issues with each start-up which is
failing to survive in the market:
1. Lack of leadership quality of executive team and delegation from them:
This is one of the key issue with start-up companies the executive
team is not properly able to lead the team and delegate things to them
Most of the entrepreneurs in India just want to have self-centric
approach where they want all things to be under their control and are
not able to share responsibilities or put trust on others due to which
they are not dealing in proper ways with their team or focus on their
key task.
2. Lack of proper structure and processes:
For any successful business you must need to have proper structure
and processes in the company and for this, you just need to have proper
resources with experience who can help you to set-up proper processes
and structures. But most of the Indian companies do recruitment with one
mindset where they just want to save cost and get maximum profit to
their own pockets due to this short-term thinking companies are not able
to have proper resources who can help companies to grow.
3. Lack of vision and competence with changing market trends:
This is one of the major reason, most of the companies have a
short-term vision and by getting some success they start believing that
they are doing all stuff in the right way and they are in growing way to
becoming million dollar companies. Due to this they stop seeing the
changes in the market and are not able to match the changes or prepare
to match with those changes.
4. Lack of Guidance:
It is always required that to make a successful company you need a
mentor or coach who can guide you with his experience and help you to
grow your company. To grow your own firm you always need to invest in
it. Get a person who can guide you on each step and correct your errors
which will always help you to be successful.
If you need more details and techniques to overcome all above issues then feel free to contact me on info@yatharthmarketing.com or call us on +91 909 979 9898. For more information, you can visit at http://www.yatharthmarketing.com/.
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