KB 94 Start Ups

KNOWLEDGE BEANS I SSUE NO 94 | MAY 2016

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| THRIVING IN INDIA’S TECHNOLOGY START-UP 3.0 WORLD: AN INWARD JOURNEY? - Chiranth Patil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

from previous page In conclusion, it’s a fascinating time to be in 3.0 for all of us; venturing now with an eye out, gazing out into the future. Is it an inflection point for the entire early stage ecosystem? In one moral way, the answer always is we just don’t know to be absolutely sure. As founders, one can simply learn to just trust his/her intuition and perhaps even train it over time – an inward journey of sorts. And that can come with a deep sense of passion for the problems one is looking to solve and to make that the mission than any other business metric.

FOUNDER’S ARTICLE | Niket Karajagi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . UNICORNORGANIZATIONS - A RIGHT AND A LEFT BRAINVENTURE Niket Karajagi is the Founder Director of Atyaasaa which contributes to the top corporate brands globally. He is a business psychologist, a coach and an organization transformation facilitator with niche areas of expertize and contributions. Niket is an authority on creativity and innovation, emotional intelligence and statistical methodologies apart from his operations background in understanding management processes.

The business world is expectantly focussing on the success of start-ups. Successful start-ups are the key to disruptive innovation; so much essential for economies that are experiencing a stalling effect. With a high mortality rate, the accountability of success or failure of any start up lies with the founding directors exclusively. Needless to say there are no shortcuts and it’s not the game for the fainthearted or entrepreneurs seeking instant gratification. The discussion below is aimed at helping start-ups succeed. I sincerely hope my experience of being a part of my own start-ups shall be helpful to aspiring entrepreneurs. Be very sure you want to be an entrepreneur. You must be wired to think like one. It essentially means you like to operate in financial uncertainty with a huge appetite for risk. It is not a venture for safety driven stingy people. You need to exhibit the grit to withstand social and financial pressures in this journey. Never ever start with an idea of selling out. No great venture is created with this idea. It’s like your child who will take time to grow and become an asset. Be clear about your socio-business intent and who you wish to serve and how. Only a great idea or a product alone cannot succeed, unless there is clarity on how you wish to transform the space around you. This is the essence of building Unicorn ventures. Set aside the technocrat’s hat. A start up requires competencies, which are more to do with right brain as you must be a person on a mission to transform the world around you. A pure technology approach is a sure shot disaster. It requires huge people management and strategic orientation for succeeding in business ventures. Systems and processes for all stakeholders to collectively win are very essential. I see start-ups fail because they do not focus on financial prudence and capability building in their eco-system. Create your success in a narrow niche. Don’t spread your-self thin. Energy needs to be focussing on a single intent“one at a time”. 1 2 3 4 5 6 ABOUT ATYAASAA Atyaasaa Consulting Private Limited is a leading Human Resource Training & Consulting Organization partnering with some of the best brands in the country and overseas. Atyaasaa has been a catalyst and a contributor in their quest for people development and business excellence. The core differentiator of Atyaasaa process is continual innovation, unique customization and use of state of the art technology tools. These are implemented through ethical and experienced operations and human resource facilitators having contribution as their core value.

Remember the 3-7-12-15 thumb rule. It takes three years to break even, seven to get going, twelve to consolidate and fifteen years to make a mark. Beyond fifteen years if your fundamentals are right and ethical structure is intact success and excellence is a by-product. Your second line determines whether you make it big or not. Be very selective and do not compromise on leadership capabilities of your second line. Past successes will be the creators of future failures. You’ll have to invent newer rules to win. You will experience a massive downturn at least once for sure. You have to emerge successfully out of it by refocussing your energies. Once done you shall for sure create a great enterprise and leave a legacy for people to cherish. Finally get a mentor. Mentor keeps you on track. It is a spontaneous relationship. You cannot succeed without a mentor. Start-ups cannot be a“fashion statement”or an“experiment”. It is serious creative work of magnificent “Business Art” that contributes to improvement in the quality of life in the chosen segment. Nobody ever forgives a failure here. There is no choice but to win so do make it happen with all the grit and gusto that you can ignite within yourself. Enjoy the journey! 7 8 9 10

Unicorn organizations are an outcome of a focussed strategic narrative and perpetual perisistence. BEAN STATEMENT

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