Being an entrepreneurship consultant, I feel the need of supporting the starts-up and MSE ecosystem little bit more apart the government initiated support schemes and incubations. Data is still not encouraging anymore and telling the story of 81-85% failure by 2017-2018. (As per Entrepreneurial India and yourstory)
Market is busy in finding the answer that when the most of the start-ups owner are technocrats, why this gap comes?
Let’s discuss this and reaching the point which is required immediate attention, there may be several reasons however few have been understood and chosen:
Product Gaps
Products are either not well-researched or not qualify the criteria of new innovations. Before introducing the products to the market, we need to gather the data and use the appropriate tool in decision-making.
Market Requirement
In most of the cases what happens, we think our offerings to the market are best and no other player or competitor exists. In actual, this is not like that, offerings are not need-of-the-hour of the market. There may be the scenarios that fail to comply between want and need.
Mentor
If you look at the scenario at broader perspective, industry reveals that no mentor policy works in the system. There are very few instances where mentor or specialist works and success rate clearly on-cards. There is practice to have few names of veterans on-board but in-actual services of them are not much utilized.
Entrepreneurship
Running entrepreneurship is not an easy drive that anybody can do it. It’s a process that drives by unique and enthusiast who has bent of skills and understanding of utilising everything with cost. Nothing free or complimentary, pay as per the value and be honest.
If any query write me at krahulsrivastava@gmail.com .