MAM

Guest Column: Start-up hacks: A cheat sheet for success

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2017/07/19/guest.jpg?itok=tTxgFnXN

With the convergence of technology and media, we are witnessing tremendous activity in the start-up space.  From content to distribution to broadcast to affiliate opportunities, there is no dearth of new ideas and their backers.  Surprisingly not all of them are covering all their bases to crack the start-up success code.

Having been a part of four start-ups in leadership positions along with all the insights gained through studying hundreds of others, here are 9 ways that help us better understand them and reasons that make them succeed.

1. Start-ups are not smaller versions of large organisations. Bonsai have a different life and game plan as compared to large trees. The two should not be compared and start-ups should not be expected to emulate the large organisation. 

2. Start-ups do not adhere to a ‘set’ business plan - in most of the cases the challenge is to find one. As Mike Tyson famously said on his opponent’s pre-fight strategies: everyone has a plan till they get punched in the face. Business Plans are a necessary evil but for a start-up they are nothing more than fictional plans and rarely do they survive their first contact with customers.

3. Customer Plan is much more important than the business plan. This may include customer engagement, customer stickiness, brand advocacy score, net promoter score, etc. "Your most unhappy customers are your greatest source of learning,” said Bill Gates.

4. Data is the new oil. Data undergirds everything. Period.

5. Start-ups need to fail fast, fail often, fail cheap and fail better. Constant experimentation and continuous learning is the name of the game rather than elaborate planning. Start-ups need to keep their persistence levels high. “You don’t learn to walk by following rules. You learn by doing and falling over,” as famously told by Richard Branson.

6. Iteration is the key word for every aspect of the business. Launch and iterate. And again. Everything is changeable except the intent to give one’s best to making it big.

7. Repeatability and scalability are two pivots to search in the early life cycle stage. Investing in growth in stage 0 is almost a sure-shot pre-requisite. Mostly start-ups are dealing with a new concept and/or a habit change. This may initially require selling only on the strength of price (not the brand or anything else) and may call for disproportionate investments and therefore profitability may be a long way off.

8. Turmoil and chaos are integral to the existence of a start-up. Those who cannot stand the heat, need to get out of the kitchen.

9. Lastly as Jeff Bezos said – Entrepreneurs must be willing to be misunderstood for a long time.

The M&E industry as much needs start-ups as the rest of the economy.  As research shows, the success quotient can go up if the above factors are kept in mind.

public://piyu.jpgPiyush Sharma, a global tech, media and entrepreneurial leader, created the successful foray of Zee Entertainment in India and globally under the ‘Living’ brand. The views expressed here are of the writer’s and Indiantelevision.com may not subscribe to them.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/19/oprah.jpg?itok=ejnr-wOD
Apple signs multi-year deal with Oprah Winfrey

MUMBAI: Remember the Oprah Winfrey show? The unstoppable business woman  behind the show has now signed a multi-year content partnership with technology company Apple. Winfrey will work with the iPhone maker to produce TV shows for its forthcoming streaming service. Winfrey is a renowned media...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/19/Fathers_Day.jpg?itok=Chcum7lQ
Hypercollective brings up an BBG's emotional short film on this Father's Day

The short film is created by Hyper Collective, an collaborative communication, technology and marketing company headed by KV Sridhar aka Pops.

MAM Media and Advertising AD Agencies
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/dentsu.jpg?itok=QyRVe7RZ
Dentsu Webchutney, Filpkart launch unique campaign with Instagram emoji slider feature

MUMBAI: Dentsu Webchutney, the multinational media and marketing communication company, has today launched a unique campaign using Instagram’s emoji slider feature for the exclusive launch of Honor 7A-SlideShot on Filpkart. The emoji slider sticker on Stories, is another fun place where your...

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/jd.jpg?itok=iCvwDes0
Google invests $550 million in Chinese e-commerce company

MUMBAI: American multinational technology company, Google, is all set to invest $550 million in China’s second largest e-commerce company JD.com. The move comes as part of the technology giant’s effort to expand its presence in fast growing Asian market. Under the agreement, Google will receive 27...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/miis.jpg?itok=hKkHO3lk
UC Browser’s Miss Cricket Campaign Makes Debut on billboard at New York Times Square

After almost 2 months of fierce competition, UC Miss Cricket Contest, an exciting campaign from UC Browser, has come to an end, with the winner Nishi Singh featuring on a billboard at New York Times Square. The 21-year old new rising star has also received cash prize of Rs 10 lakh, while the first...

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/rupert.jpg?itok=pl4_Dlp9
Audi CEO Rupert Stadler arrested

German automobile company Audi’s CEO Rupert Stadler has been arrested on suspicion of fraud. The arrest has been made in connection with Audi’s parent company Volkswagen’s role in emissionsgate (dieselgate)

MAM Media and Advertising People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/unilever.jpg?itok=IL0RxprV
Unilever to cut ties with digital influencers

While brands continue to engage in paid promotions through influencer marketing, consumer goods giant Unilever's had enough. The world's second biggest advertiser has decided to stop this practice to promote its products. Companies tend to rely on influencers to generate a buzz around their...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/anita.jpg?itok=wTNSxd4G
Anita Mookerjee joins Lodestar UM as head for South business

Media and marketing company, Lodestar UM has appointed Anita Devraj Mookerjee as the head for South India business.

MAM Media and Advertising People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/bombay.jpg?itok=q0oYnJqd
Bombay Dyeing eyes 20-30% revenue from e-commerce by 2021

MUMBAI: A customised bed sheet with an image of your favourite travel destination, family or just a picture that you clicked. Sounds fancy? Well, bath and bedding company Bombay Dyeing has launched a new campaign to target the millennial consumer where they can upload an image on the company’s...

MAM Marketing Brands

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories