No one thing can guarantee success in a startup. For a startup to succeed, 20 things have to go well. For it to fail, one thing has to break.
Of course you need a good business model. But that itself will be of no use if the product is not good. The product will not be bought if the communication is not right. The product will not reach the customer if the distribution is not right. And there are a number of such interdependent things that contribute to success.
By the way, there is not one ‘winning business model’. A business model is a strategic choice you make. And strategy is about choosing from the MANY options you have available to choose from, and then aligning the rest of the organization around that decision.
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Author: Prajakt Raut
Prajakt Raut is the founder of Applyifi.com, and author of the book for startups - ‘Starting Up & Fund Raising’
Prajakt personal goal in life is to encourage and assist a 100,000 people to become entrepreneurs.
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Prajakt is the founder of Applyifi - an online platform that provides startups a 36-point scorecard and assessment report on the venture's investment readiness [www.applyifi.com], and helps them improve their odds of getting funded.
Prajakt is also the founding partner of The Growth Labs, a platform where growth-stage companies get sharp, incisive advice from senior professionals and experienced entrepreneurs. [www.thegrowthlabs.in]
Before starting Applyifi, Prajakt was the head of operations at IAN, founding member of a leading incubator, and the Asia-Director for TiE (2004 - 2007). Previously Prajakt had co-founded Orange Cross, a healthcare services company, and was part of the founding team member of Idealake Technologies. While in college Prajakt had founded a printing business and has spent over 10 years working in leading advertising agencies.
Prajakt’s book, ‘Starting Up & Fund Raising’, helps startups understand an investor’s perspective, and helps them improve their odds of getting funded. The book also helps entrepreneurs understand the building blocks of a business.
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