Rome was not built in a day
Absolutely. No success is overnight. Good things take time and great things takes a little longer. Likewise the startups.
Every startup faces one or the other challenges in their early stage. According to a study, Statistics for Rate of Startup Failure is like this:
So how to overcome the challenges that can led you to failure?
There are 5 C’s to overcome your challenges in startups specified by Panel Speakers (Gauri Shingote, Devyani Pawar, Monica Holey Belsare, Pradnya Baviskar) in today’s CoRise Women Entrepreneurs Meetup (one of the eChai’s Social Network Meetup) hosted by Pratiti Desai at Mauji Cafe, Pune. This was my second Women Entrepreneurs Meetup there and it is always amazing to meet and hear stories of women entrepreneurs from diverse background.
Below are the 5 C’s that are necessary to go around with the startups
Gauri Shingote, Founder of Juvenate Wellbeing spelled out that Critic is the most important object in a startup. She said, “If someone criticises you, it means you are on the right way.”
Be open to criticism. Welcome constructive criticism to keep moving ahead in your journey.
Criticism may not be agreeable, but it is necessary. It fulfils the same function as pain in the human body. It calls attention to an unhealthy state of things.Winston Churchill
Devyani Pawar, Founder of DP House of Media, in accord with her experience shared with the women that commitment is very much important in the startups. It is the actual key to unlock the trust of the customers, connected with you in your venture.
Great organizations demand a high level of commitment by the people involved.Bill Gates
Monica Holey Belsare, COO of Ideas to Impacts Hub, unfolds the importance of change in your startup. She said that one has to change as per the need for the startup to survive and grow. COVID19 pandemic broke down many startups and businesses. But, the businesses or startups who pivoted survived. In stead of quitting, it is always good to apply pivot strategy in your business.
Gauri Shingote added that an entrepreneur should go from Plan A to Plan B to Plan C ….to Plan Z in startups. It is always good to have contingency plan in place to respond effectively to anything that may or may not happen in future.
The dreams that you hold for your future are what you dream about at night. They’re always at the back of your mind. They’re what your heart desires. They keep you going. Accept reality and have a backup plan, but always follow your dreams no matter what.Miley Cyrus
Pradnya Baviskar, Co-Founder of Storeplum, shares the necessity of calmness in business. She said that being calm in times of stress can help inspire trust and loyalty of customers or employees. Staying calm empowers an entrepreneur to think logically and take strategic decisions.
Mistakes and pressure are inevitable; the secret to getting past them is to stay calm.Travis Bradberry
Gauri added up collaboration as the another important factor in startup success. And this was agreed by the other panel speakers that were present in the meetup. Collaboration is utmost factor to achieve common business goal with collective expertise. It is a powerful business tool for the startups or the businesses to innovate and grow. The combination of divergent efforts and expertise can be leveraged for efficient problem-solving and decision making.
Great things in business are never done by one person, they’re done by a team of people.Steve Jobs
Meetups are a great way of connecting new people and the women’s networking event helps female entrepreneurs form an understanding of their strengths and weaknesses. Inspiring Stories shared by the successful entrepreneurs is a huge motivator. Networking with other women in the group builds confidence.
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