A country that enjoys a favourable climate, balanced economic factors and low-cost skilled labour offers several opportunities for businesses to grow. Thus, it is no surprise to see that India is emerging as a hub of some of the biggest startups. Especially, when it comes to unique, innovative and interesting business setups.
But is there a formula to make a startup in India successful? What are the determinants of an interesting and distinctive business module that makes it stand out from the rest?
This or That tells you what makes a start-up unique, innovative and interesting
Some of the best startups in India have challenged age-old business strategies and turned away from blinkers. They are on a mission to upend industry rules and establish new standards and ideologies for the youth to follow.
To be a unique startup in India, you will need a wide-angle lens. The focus must shift from things that are already changing to what might change in the future instead and capitalise on the underappreciated future trends.
This is the defining factor for startup brands that foretell their imminent success. A brand must see itself as a portfolio of skills and assets and use creativity to recombine ideas into new products and businesses.
Companies that evolve with the times beat out the competition. There is a need to move in sync with what is ‘in’ and re-introduce products and services to cater to the customer’s ever-changing needs.
Overpromising leads to disappointments and a smart startup would focus on a product-market fit. Addressing unarticulated needs is a must so that your company can enjoy sustainable growth and longevity.
The startup environment is fast-paced, curious and ambitious. What makes it so interesting and fun is that it works toward building an engaged community.
Like the Made in India ideation has motivated many minds to start their own ventures and promote local goods among consumers. Our country is the world’s third-largest startup ecosystem with more than 60,000 establishments. And while there is no one-size-fits-all strategy, adopting these qualities early on can help establish a steady foundation in the industry.