Shutting down startups

Shutting Down Startups

By: Vidushi Upadhyay

What is a

StartupA startup is a young, dynamic company

built on technology and innovation wherein the founders attempt to

capitalize on developing a product or service for which they believe there is a

demand

5 steps to building a startup

Step 1: Articulate your idea

•What is the problem you want to solve?

•Who experiences that problem?

•How do you want to solve that problem?

Step 1: Articulate your idea

Step 2: Define: Who is your customer?

Step 2: Define: Who is your customer?

Define your customer’s persona

• What is their age group?

• What is their gender?

• What is their occupation?

• What are the pains that keep them awake at night?

• Where do they live? (city, suburbs, village etc.)

• How strong is their financial background?

Step 3: Avoid competition

Step 4: Show yourself the money

Step 5: Build your prototype

Some of the famous Indian startups

which failed…….

• Founded: November 2014 by Navneet and Millind Sharma

• Products: Grocery delivery

• Dissolved: April 2016

• Reason: Mindless spending to acquire customers and uncontrolled

marketing budget

•Founded: January 2012 by Layak Singh (IITian)

•Product: Dating App

•Dissolved: July 2016

•Reason: Fundraising was becoming difficult because of already existing

new players in market.

•Founded: May 2015 by Saurya Prakash and Tushar•Product: Deliver groceries• Dissolved: April 2016

•Reason: Failed to raise funds

Reasons why startup fails

Reason 1: Market Problems


Reason 2: Business Model Failure



Reason 3: Poor Management Team




Reason 4: Running out of Cash




Reason 4: Running out of Cash

Reason 5: Product Problems

Freedom from the Myths of IIT

More Food and Less tech; More Local and

less Hyper


less Hyper


less Hyper

Freedom from the lure of Funding & Legend of

Unicorns


UnicornsBillion dollar

companies are only formed when they

solve a genuine problem,


UnicornsBillion dollar

companies are only formed when they

solve a genuine problem,

Not By Raising Funds……

Freedom from the broken promises of

Employment

Freedom from the broken promises of Employment

Freedom from the burden of the

society

ConclusionIndian entrepreneurs need

freedom from the false aspirations of the society which burden them with

their own propaganda, and have killed thousands and thousands of dreams even before they were allowed

to be tried.

Thank You

Small Business & Entrepreneurship

Shutting down startups