It has been obvious since time immemorial that a wrong step taken once may accelerate the wrongdoings of the future. It deters your confidence and also deters the confidence of your confidante. An in-depth analysis of your purpose, and your strategies are therefore some very essential tools to strive in a startup environment. Let us get an insight of how a failed startup probably gets into such a condition.

A Chennai based startup by the name Shopo as online marketplace for handmade traditional products by the indian designers was acquired by snapdeal and relaunched again under the new zero commission marketplace. Meanwhile 2017 came to be the struggling phase for snapdeal itself it found difficult to survive with shopo and ultimately led to its closure. Many such examples exist in our economy. The only way out is a smart strategy and updated information of the dynamic scenarios around you that will help you lead the game.

Let us get through the few mistakes you might love to avoid in order to keep your place in the startup dynamo.

1.Running after media fame

Too much attention has been grabbed without any satisfactory real time product performance- if such is your case it is probably going to be doomed in the excessive media criticism. Going public in the market space without a correct strategy and a futuristic approach towards the startup product is likely going to attract the limelight but for all the wrong reasons. And that is something that no startup would want for themselves.

Remember, being in the limelight comes with its own set of pros and cons. Make sure that the latter is as minimal as possible or at least non-existent for that matter. A failed strategy would not only expose the weak foundation for your own startup but also create a convenience for your opponents as you are no longer liable to be the competent!

2.No leverage of full potential

It’s not only the realization of your full potential but also the capability to pull it in terms of implementation that will actually make the startup work smoothly and efficiently. The best conversion of your potential comes when you are thrown open to circumstantial understanding of the business and startup environment- wherein you don’t only learn but also try and improvise.

Tapping the present situation’s demand and studying the pattern of customer’s varying demand over a full length time will help create a database of customer’s behaviour according to which your potential working staff can get enough time for adjustment. A hawk-like vision is required to keep yourself well acquainted with the variable nature of the market.

3.Yes to all

Repetitive projects, multiple yes, no innovation shows the stagnation of a company not only in terms of creativity but also in terms of their ability to tap the current dynamics. Being in the market and actively involved in the business not only takes conceptual understanding but also requires the need to ponder on the selection of right projects to be dealt with. A good partnership not only boosts your confidence but also of your employees, plus the customers who are always on the lookout for something new.

4.Confusing market with sales

Marketing is strategic while sales is the upfront of that marketing strategy. There is this difference that we need to recognize not only to ensure a good forefront but to also keep the products hyped up. A balanced approach toward marketing and sales is required in order to achieve our goal.

Many companies have failed to grab the attention of the customers because of failed marketing and obsolete strategies. Hence, an equitable attention to both the departments would actually bring out the best results. There would be no satisfactory result if we sacrifice one for the other. They need to go hand in hand, side by side.

5.No clear user persona

A better understanding of the target audience is very crucial in terms of tapping the crowd and turning them into our customers. This can be done with the creation of a good and highly skilled user persona. USER PERSONA is a semi-fictional character which is made in order to create a database for varying fields. It is the personification of your ideal customer. A good survey of your customers can help you know who exactly you would be targeting. The clear understanding of persona helps the company take initiative in terms of user friendly and attractive deals.

6.Tunnel vision

Losing the sight of your hindsights can be disastrous both for your survival and your image. In a fied like this it is always better to stay well equipped with variable information- that is not monochromatic in nature but shows the true color of the current market conditions. A lost track of peripheral vision not only pulls you back from competition but also enables other companies to take over you easily because it is always easier to hunt down an injured one than a healthy one.

7.Channel mismanagement

Underestimating the potential of innovation and its adaptation can be the biggest blunder that a startup can probably commit. It not only showcases the very narrow approach on behalf of the company but also shows the unsatisfactory and inadequate amount of thought process that goes into every staging of the plan. A smooth functioning can only be ensured with a healthy working environment which not only ensures the employee’s physical health but also focuses on the mental status.

A good communication between all the departments ensures the smooth functioning without any unrequired delays or rifts in any project. An active human resource department also gets to take the key role in such a scenario.

A clear demarcation of all the departments and its purpose helps in effective management of the work.

8.No depth market research

With such dynamism around in current economic scenarios and sprouting startups one always needs to ensure to stand out in terms of performance, creativity and innovation. This is not a once in a lifetime thing but rather a more regular and periodic procedure which cannot be sidelined at any cost.

Too much focus on the quantitative research and not the qualitative one would not only affect the performance of the company but also make the customers sceptical about our potential and market awareness. It is always suggested to be well equipped with customer oriented research information that is multidimensional in approach.

9.Growth hacks

Sometimes trusting time and letting it take its course is the best possible alternative to a complicated situation in business. INSTANTANEOS SUCCESS in the field of startups is not only a myth but also a falsely propagated idea. Anything that has been set up takes it time to cure be it a business or a startup. Ensuring quality at the initial stages of your startup is not only a good way of proving your worth but also a healthy alternative to all the unhealthy overnight success clutches.

There is no specific mantra for any startup to become successful. Rather it is a permutation and combinations of some errors, decision making, strategies and approach that helps us reach our goal.

Above all the options above have you come across any of the shortcomings in your strategies per say? If you have then it’s a problem solved but until then never forget to keep correcting your mistakes before they become too huge to be handled. It is always better to stay precautious than trying and finding the remedies for an already created problem. Ensure to be on your tip-toe when the time arrives! Best wishes.