Venture Capital What are the biggest problems faced by stratup's in India???

[farzan]

Hi All,

Wanted to kmow what are the biggest problems faced by startup's in
India??

Would like to get views from as many people as possible...

[Dnyanraj Mali]

Dear Mr. Farzan

Following are some of the problems i faced and i have seen people facing these problems.
(please note i am talking about IT startups here)

1. To get a team of like minded people
First few months/years goes in just getting like minded people on board to start building a company. Its great if all of them are from different background. e.g. technical, marketing and sales, finance etc.

2. A very basic problem is whom to recruit first?

1. marketing team
2. product/service team (technical team):
   

Possible solutions is:

if you are a Product Company, you must make your product ready & when the product is 80% ready you start recruiting marketing & sales team.

If you are a Service Company, you need to show infrastructure & technical capacity to provide service. So this comes first & then your marketing will start.

Note that: If you have good references and you get your first customers from your personal contact, then nothing like that. Then you have case study to show. So in this case technical team will come first

3. How to retain employees?
This is next challenge. You need to keep motivating your team continuously. Some of the ways are picnics, technology workshops, seminar, client visits to your office, improvement in infrastructure, incentives, increments in salary etc.

4. Time & Money
How much time and money you have to execute above things? You have to be in strict schedule.

5. Location
This is very important for a service company. Clients judge your strength and capacity by your location. Yes, it matters in what area of city your office is located..

6. Mindset
Mindset of you and your team is the ultimate thing which decides your success time. How to you take failures & how do you recover from them matter a lot in early stage.

Regards,
Dnyanraj Nivas Mali

+91 9823 562238
Operations Manager
Sun Online Solutions Pvt. Ltd.
http://dnyanrajmali.blogspot.com
http://dnyanraj.wordpress.com/