An Academic presentation byDr. Nancy Agnes, Head, Technical Operations, Phdassistance Group www.phdassistance.comEmail: [email protected]
T O D A Y ' S D I S C U S S I O N
Introduction
Startup success Predictors
Characteristics of the founders
Capital Analyzation
Strong Team
Business Model
Marketing
Outline
I N T R O D U C T I O N
their which
Nowadays, e ntrepreneurs turn innovative thoughts to ventures provide solutions to global problems.
As a result, a start-up venture has the potential to grow into enterprises that have a global effect.
Many e ntrepreneurshopeforasuccessand financial gain when they start their business.
Contd...
Some people want to accumulate assets, while others want to start,
grow, and lead a long-term business but not everyone is born with
the talent and luck to be the next big thing.
Oprah Winfrey, Richard Branson, or Michael Dell is just a few of the
people who have made a name for themselves.
S T A R T U P S U C C E S S P R E D I C T O R S
Many factors can contribute to a startup's success or
failure; nonetheless, studies have discovered a link
between a new venture's managing team and its success
or failure.
In a start-up, founders are the catalysts for new g oods,
s ervices, and business models to enter the marketplace.
Contd...
With the need to attract people into the business, the founder's relationship
to the company and its stakeholders will alter.
Given the importance of a Founder's position in the firm's architecture,
it's likelythat he or she willbe promoted to management or the
board of directors Anyonemay now establish a business because of
the present business
environment.
However, it takes a lot more than a good business environment to keep it going
and turn it into a viable company.
C H A R A C T E R I S T I C S O F T H E F O U N D E R S
For a startup to be successful,
characteristics of the founder plays as
major role as forms the foundation of the
business.
Their qualities might determine where
the startup culture begins and how
it relates with the business environment.
Contd...
Human capital, which is regarded a vital determinant for organizational
success, has been identified as having relevant attributes such as
experience, expertise, age, and education of the founder.
Entrepreneurial talent is influenced by the expertise and talents of the
founders, and there is a strong relation between a founder and performance.
C A P I T A L A N A L Y Z A T I O N
Working capital is also crucial for a
startup's success as early phases of investment.
provesEven if obtaining initial fund financing
challenging, a line of credit is still an option.
Contd...
Any startup that does not have enough financing would
suffocate under its own debt, and securing appropriate
finance will necessitate a sound business strategy.
Since, the Capital has a direct and indirect impact on
performance, the lack of capital would certainly lead to
the startups failure
STRONG TEAM
Even if you have extraordinary entrepreneurial
tremendous success
characteristics, it's difficult
alone,
to achieve
thus
puttingtogether the proper team is critical to
every successful firm.Contd...
The size of the founding team has an impact on business success as it
acts as a catalyst for the accumulation of entrepreneurial potential.
Despite the fact that the size of a team's founder has been shown to have
a beneficial influence on performance, a larger team does not ensure
better results.
BUSINESS MODEL
An excellent business idea, according to Nyman [5], is just one part of a
larger business concept.
It's critical to follow through and think about the other components of your
business model as well, regardless of how large or small your company
is.
A business model for a startup highlights building a method in order to
consistently fulfill value promises and pave the route for the business
expansion.
MARKETING
Every company initiative, large or little, relies on
marketing to allow clients to genuinely interact
with the product.
Marketing has been incredibly cost-effective
with the emergence of digital media, and is thus
an essential component of a startup's success.
According to Lussier et al. [4], business founders
having past marketing experience contribute
considerably to their company's performance.
Contd...
Every stage of the business is connected, from putting a concept on paper to
carrying it through.
Even the poor management of a single stage might compromise the entire
chain and thus it’s vital to realize that a business isn't built only on a brilliant
concept rather, it needs a strong team, founders capabilities, a suitable
business model, a funding capital and the marketing strategies.
Thus, the proper operation of these elements is critical for a startup's growth a
nd development.
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