Hey, guys hope you are doing great.we are back with another motivated post for those who are interested in business.Today we will Discuss some revolutionary steps for you.which helps you to get success in your business. As According to Institute of Business, Value Oxford Economics 90% of Indian startups fail in their first five years, One of the biggest reason is lack of Exact Needed Innovation.In Indian startups, there is a lack of motivation and innovation which is the biggest reason for the failure of startups in their first five years.According to the report of patents filed of Asia in 2015-16 India files only 1,423, Korea files 14,600, China 29,800 & Japan filed the most patent 44,200.Forbes find out the most innovative companies in Asia where only one company of India can make their place and the name of that company is Asian Paints.
Some Revolutionary Steps For Business Success
Missing Innovation Around Customer’s Money Making Model
In India all the entrepreneurs or businessman want to get all benefit, They have no concern about customer’s money-making model.All we know the customer is our god & consumer’s satisfaction is our first priority but some businessman ignores the consumer’s satisfaction for their profit margin.If any person has any idea about their consumers demand then they can get the success in their business. But in India, no one has any idea of the demand of their customer.What problem you are solving in your customer’s life, which he can not solve on his own.
Negative cash flow & negative working capital
A cheque in hand means nothing, you need cash.In any organisation, both cash and profit is required both are the backbone of any organisation.It can be possible that your organisation earns a profit and show in your books of account but There is a chance of delay in cash or delay in recovery by a consumer this is said to be a negative cash flow.It is possible that the gross margin is good but there is a negative cash flow then this is very dangerous for your business.Due to the negative cash flow, we have short of the fund so, we required a cash and we contact the funding agencies but at the point of time funding agencies also deny for funds.Due to the negative funding, so many startups are failed for example-Askme.com, Autoraja, Talentpad, Fashionara, Franklyme
Expansion With Negative Margin
Nowadays entrepreneur makes a negative margins strategy for their startups and for a period of time their startup runs but after sometime they dropdown due to less margin.Entrepreneurs start to acquire market and make loss-leading strategy and selling cheap to increases their valuation and by the valuation, they think that they get funding for their startup but if you have not prepared from starting for your profit and have no idea from where they get the profit they there are 100% chances of failed to get success.
Lack Of Talented Manpower
On this topic, we have discussed already in the previous article if you missed them you can read it from here.If you have not created or built the high-performance team yet, then you can’t get the success in your business because a high-performance team can help you to get the organisational goals.