My Letter to Business Today about START UPS

COOLEST START UPS BT ISSUE DATED 27TH AUG 2017

Dear Sir,

This refers to your special issue on startups ( BT 27TH August 2017-India’s Coolest Start-Ups). The eminent jury-chosen 12 winning enterprises all made very interesting reading, reflecting the spirit, and determination of the entrepreneurs who ventured into the hitherto un-trodden areas of innovative ideas, out-of-the-box thinking and life-changing activities through new start-ups to carve their very own niche in the vast arena of the business world of today. Kudos to BT, the Jury and the Winners!

Your esteemed readers have been enjoying reading about such start-ups since 2007 but one thing that comes to our top-of-the-mind issues is that media reports have been frequently talking about failures of such start-ups. So it is felt that it is now high time BT came out with a special issue on START-UPS THAT DID NOT SUCCEED analyzing various reasons and problems due to which they fizzled out in a short time, so that the future entrepreneurs learn valuable lessons from them and not repeat the mistakes they made.

As per information gathered by me from various sources and from my readings from several books and magazines, the major reasons for start-ups generally not succeeding, could be many—Poor Sales & Marketing,   Low level of venture investing, Family and Peer Pressures, Lack of sufficient Startup incubators, Lack of trust ( Angels fearing the founders will run away with their money anytime), Weak University system where entrepreneurship and start-ups are hardly included in the syllabus, Wrong hiring of personnel, Funding Problems, Patent Regulations, Poor adoption of technology, More VCs and hedge funds but less Investors, startups being pushed toward short-term solutions and unreasonable scale very early, lack of mentoring, Imbalance of staff ability and attitude,  lack of access to early stage capital, not hiring the right talent , time wasted in ensuring compliance with laws,  Low cyber security because of budget constraints, not enough people to guide startups how to go about fighting the system etc etc.

Let us hope that gradually the new entrepreneurs will learn from others’ mistakes and become successful and carve an enviable place in the country’s eco-system and become an example for other nations to follow.

J S BROCA. New Delhi. 17th Aug 2017

 

 

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2 Responses
  1. Jatinder Pal Singh Broca says:
  2. Jatinder Pal Singh Broca says:

    My Letter on Failure of Start Ups in Business Today issue dated 24th Sept 2017
    Here is a highly edited version of my letter:
    Why Start Ups Are Fizzling Out
    This refers to your special feature on India’s Coolest Start-ups (August 27). Business Today has indicated problems due to which start-ups fizzled out in short time. The major reasons include poor sales and marketing, low level of venture investing, lack of trust, wrong hiring of personnel, poor adoption of technology, and lack of mentoring. Let us hope that gradually new entrepreneurs will learn from mistakes and become successful.
    J.S. Broca, New Delhi
    6th Sept 2017

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