Startup Guide Issue 16 | Page 12

The s hi f t f r om uni c or n t o c oc k r oa c h s t a r t ups ha s be e n s e e n wor l dwi de a nd i t i s f or t he be s t . Thi s i s ma i nl y be c a us e c oc k r oa c h s t a r t ups a r e mor e r e s i l i e nt i n na t ur e t ha n t he uni c or n s t a r t ups . F l i pk a r t a nd Ol a a r e t wo of I ndi a ’ s mos t f a mous uni c or ns a nd t he y a r e c ur r e nt l y e ng a g e d i n a ma r k e t wa r wi t h Ama z on a nd Ube r r e s pe c t i v e l y . The y a r e now l obb y i ng f or pr ot e c t i oni s t me a s ur e s i n or de r t o s uppor t t he i r ope r a t i ons but t he i n v e s t or s a r e of t he v i e w t ha t t he s e me a s ur e s wi l l l i mi t t he i r e c onomi c f r e e dom, pe na l i z e t he i r e f f i c i e nc y a nd t he e nd- us e r a s we l l . On t he ot he r ha nd, t he c oc k r oa c h s t a r t ups a r e mov i ng t owa r ds s uc c e s s b y c ons t r uc t i ng ha r d- t o- r e pl i c a t e bus i ne s s mode l s t ha t r e l y s ol e l y on ope r a t i ona l a nd f i na nc i a l s t a bi l i t y r a t he r t ha n t e c hnol og y . BOOTSTRAP BEFORE J UMPI NG TOW ARDS I NVESTMENTS s c a l i ng up be c a us e wha t r a pi dl y g oe s up , i s a l s o a t t he r i s k of c omi ng down r a pi dl y . Wha t y ou do ne e d t o f oc us on i s on a c qui r i ng a nd i mpr ov i ng y our s k i l l s a s a n e nt r e pr e ne ur a nd ha v i ng pa t i e nc e whe n i t c ome s t o g r owt h. The ups i de t o g r owi ng bi t b y bi t da i l y i s t ha t onc e a l l t he not - s o- de s e r v i ng uni c or ns di e down, t he c oc k r oa c he s wi l l s ur v i v e a nd be c ome mor e v i s i bl e . I n or de r t o g e t a v a l ue d e xpe r i e nc e whi l e bui l di ng y our pr oduc t , boot s t r a ppi ng i s ne c e s s a r y ! I n boot s t r a ppi ng , y ou s pe nd mone y y ou c a n’ t a f f or d l os i ng , s o y ou a l wa y s wor k ha r de r a nd t r y t o a v oi d mi s t a k e s a s muc h a s y ou c a n. I n r e t ur n, y ou l e a r n t o s ur v i v e , he nc e be c omi ng a ‘ c oc k r oa c h’ . I n or de r t o be c ome a c oc k r oa c h s e t up , y ou ne e d t o be l i e v e i n t he c onc e pt t ha t “ Cons t r a i nt s i ns pi r e Cr e a t i v i t y ” . Y ou ne e d t o wa l k on t he r oa d of ha v i ng s ome de f i ne d c ons t r a i nt s i n or de r t o bui l d y our c oc k r oa c h s t a r t up . Addi t i ona l l y , a c oc k r oa c h s e t up r e qui r e s t he f ol l owi ng : A SMALL TEAM I S OKAY! One s i g ni f i c a nt f e a t ur e of a c oc k r oa c h s t a r t up i s t ha t BECOME A TECHNI CAL i t ha s a s upe r s ma l l t e a m. The ma j or r e a s on be i ng t ha t t he y don’ t ha v e t he f undi ng t o hi r e a bi g t e a m s o FOUNDER RATHER THAN A t he f ounde r s a r e doi ng e v e r y t hi ng t he ms e l v e s . Thi s i s NON- TECHNI CAL ONE! not a ba d t hi ng a t a l l ; wha t ma t t e r s i s t ha t t he t e a m i s e nt hus i a s t i c a nd ha v e t he s k i l l s e t t o r un t he s t a r t up . I t i s v e r y i mpor t a nt f or a f ounde r t o be i n v ol v e d i n Mor e ov e r , i t i s a dv a nt a g e ous f or a c oc k r oa c h s t a r t up bui l di ng of t he pr oduc t ! I f y ou ha v e a t e c h s t a r t up , t o ha v e a s ma l l t e a m; e v e r y t hi ng i s a ut oma t e d wi t h y our s t a r t up i s obv i ous l y ba s e d on t e c hnol og y . S o, e i t he r s of t wa r e or t hi r d- pa r t y s e r v i c e s . S o, t he mor e y ou ne e d t o ha v e a c ompe t i t i v e a dv a nt a g e on how pr oc e s s e s g e t a ut oma t e d, t he mor e c ompe t i t i v e y ou i mpr ov e a nd opt i mi z e y our pr oduc t . I f y ou do a dv a nt a g e y ou g e t be c a us e y ou a r e doi ng t hi ng s a t a not ha v e c ompl e t e t e c hni c a l unde r s t a ndi ng , y ou wi l l mi ni mi z e d c os t . de f i ni t e l y mi s s out on pot e nt i a l i mpr ov e me nt s . S i mi l a r l y , i f y our bus i ne s s i s a bout f ood, upda t e y our unde r s t a ndi ng a bout f ood! FOCUS ON GROW I NG BI T BY BI T EVERY SI NGLE DAY I f y ou wa nt t o be c ome a g r e a t e nt r e pr e ne ur , y ou ne e d t o f a c e a nd l i v e t he r e a l i t y . Do not hur r y on