Startup : What's Hype, What's Hakikat?
Question: What every engineer thinks after getting a startup Idea?
Sorry, can't help but use this meme. Well, there are different levels of hype for these memes nowadays, but the biggest hype is what we are going to talk about. The Startups.
Okay. First of all, What is a Startup? Technically, Startups are young companies founded to develop a unique product or service, bring it to market and make it irresistible and irreplaceable for customers. Ideas scribbled on a napkin turning into a fully sustainable company. Startup branches outs from ideas addressing deficiency of existing products or utterly different categories of product.
We are most familiar with FAANG stocks i.e. Facebook, Amazon, Apple, Netflix, Google but even companies like Uber, Endeavour, Poshmark, etc are considered to be startups.
Many companies which are now flying high in skies of success didn't take off immediately. Well, many of the start-ups fail before even taking off. For eg. Quibi, Quirky, Layer, ScaleFactor, HomeJoy, etc. You haven't heard of these names before, neither did I, but that's what start-ups are all about, ain't they? Everything in startups is not always shiny. It takes a heck of a lot of effort to make an idea work.
The Start-up World right now is full of myths - completely insane yet persistent narratives popularized by the online media and often uncritically accepted by the founders themselves. These image-before-action trends hold back the budding entrepreneurs from their true potential or misguide them with unrealistic checkpoints.
The hype is where the image or status of an entrepreneur has more admirers than for the impact they create in society. That's not to say that this startup ecosystem isn't valuable. But we need to understand that it's more about grit than glamour. Starting a startup is basically about rolling up your sleeves and working hard for years to achieve the goal you started your venture for.
"You have a great idea, that's good but not enough".
The attempt to drag that idea into the market comes with a host of risks and challenges such as proper execution, attracting capital, legal work, marketing, employing, managing finances, investors, building networks, market research and whatnot.
Even all these don't assure you anything and to be honest, nothing will. The business world is evolving all the time. Startups are exciting and rewarding but at the same time there lies frustration, failure and risks, but it's all worth it.
Don't chase these hypes. Know your own reason to make your vision work.
-Author :Rutuja Gosavi
Recent Posts:
Designed and Developed by Web and Tech team