Start-ups can never succeed if they tread the traditional path. By its very nature, a start-up is into a very different ballgame in comparison with conventional businesses or companies. Conglomerates that have been established for more than five decades or have been around since the pre cold war era had been formed and nurtured in completely different time and there is almost no similarity of the present day to those years. Thus, a start-up cannot venture out with traditional ideas or philosophies. It is a completely new world out there and for a start-up to flourish or at least to find its rightful foothold, there are certain realities that one needs to understand.
A selection of the top qualities needed to run a successful start-up are outlined in the infographic below.
The Source of Advice
Vishal Gondal’s 10 Commandments For Start-ups is a list of advice actually. Vishal Gondal is a celebrated entrepreneur who has scaled dizzy heights in the domain of gaming and digital businesses despite having no notable technical skills in either computers or a degree in any other discipline. He shares some simple realities that many entrepreneurs often take years to realize.
Setting Up for Success
The 10 Commandments are actually each a lesson to ensure that a start-up finds a solid foundation and is steered properly during its incubation period. Vishal debunks the myths of business plans and spreadsheets and sheds light on how courage is what you need to actually plan and launch a start-up. When a multinational company or a conglomerate launches a sister concern or a subsidiary, it is not referred to as a start-up because they have invested everything they could to study the feasibility of their new venture. Also, in all likelihood the company is venturing into that business because of the potential profits and not because what it can do to the industry or to the people at large.
Start-ups by their very nature are different from traditional business approaches. A start-up is a risk. It is the manifestation of an idea of a person who doesn’t have many resources at his or her disposal and an entrepreneur is more likely to face every challenge under the sun on his or her way to find success with the idea that she or he truly believes in.
There are many tips and tricks along with some really enlightening facts that you would find in the Ten Commandments, some of which will actually change your perspective towards start-up enterprises and how you should pursue to realise your aspirations.