Startup is not an eternal entity, a phase-wise unique business proposition that spurts its growth from an Idea to Proof of Concept to a full-blown scalable Go-to-Market commercial strategy. A Startup brings in innovation, solution, viability, scalability, sustainability with a bit of tech infusion that blooms into its full potential after necessary interventions. In Assam the entrepreneurial ecosystem is evolving fast with the initiation of Incubator experts like IIMCIP, NeateHub, Assam Startup BioNest etc. Yet, 80% of these Startups are stuck in a state of limbo due to various reasons.

Grant Mindset: A business idea to PoC Startup can look for grants to give it a stir and cook up the recipe for initiating the business. Yet, Startups should not eternally settle for grants to solve their teething fund needs. A Startup needs to concentrate on market research and focus on the “trading for profit” part of the business than eternally keep ideating. The bombastic concepts like innovation, uniqueness, key differentiation etc. hold less water when it comes to practically wading through the muddy waters and surviving the deluge of myriad challenges.

Mentors tend to Confuse Startups: A mentoring regime is fine as long as a Startup is benefitting from the consultations. But in a majority of cases, getting incubated with multiple incubation platforms may perplex the entrepreneur in doing the right kind of business. Hence, it is imperative to study the market thoroughly to establish the business requirements as per the psychology of the target buyers.  Starting small but confidently is a big leap of faith.

Choose Investment with Caution: This aspect entails a rigorous need assessment. It’s important to choose an investment model carefully so that an entrepreneur doesn’t have to regret a thing later on. Be it equity, debt, loan, angel or seed funding the choice is paramount for an entrepreneur. There’s no need to take more than one can handle for the business later on to fall into an investment trap. An investment trap occurs when an investment appears to be undervalued but is actually overpriced or has fundamental flaws that limit its potential for growth. It can lure investors with promises of high returns, but ultimately leads to losses or stagnation.

Revenue Model is an armour for Traction: Moving past the Investment tightrope to run a business, the Revenue Model eventually decides the fate of a business. Traditional businesses are often successful because of a suitable revenue model that fulfill the customer needs. A complex revenue model may or may not work out in the long run. Keeping things simple and easier to decipher for customers help.  Every product needs to fulfil a utility. Of course, for some fancy premium products the strategy differs. There, we need to tell a more compelling story to intrigue the customers but ultimately, it’s all about the business model to undergo steep sales.