Tag: Aspiring entrepreneurs

New Year Resolutions Entrepreneurs Need to Make in 2025
After the pandemic, things started to improve in 2023, and there was a lot of fresh enthusiasm and energy. This stimulus benefited and expanded our economy. It was a fun opportunity to experiment and pick up new skills. The start of the new year 2025 is thus looked upon by entrepreneurs, businessmen, and other individuals around the world as a year that will endow businesses with fresh rays of hope and opportunities to prosper. However, it is the resolutions that we make at the very start of the year that matter much.

New Year resolutions have always been occupying a central part of the society in which we live and in other parts of the world as well. These resolutions are aimed to be made at the beginning of a new year, where a person resolves to continue doing what good he/she has been doing and remove their bad traits, undesired habits, or behaviors that he/she hadn’t been able to shake off. The New Year resolutions have been followed traditionally but not blindly. Research says that setting goals is important for ourselves and our minds and is essential to help us achieve the things we wish for fast and without any worries.

However, with the year 2025, there is a new ray of hope for entrepreneurs who want to grow their businesses. Without proper resolutions, nothing is easily achievable. Startups would float around without objectives and resolutions, and entrepreneurs would have little to no energy to complete things ahead of time. So, instead of being reactive, establishing resolutions this year will allow you to be proactive. These New Year’s resolutions would help entrepreneurs revitalize their staff and take their firm to the next level.
Enhance Your Leadership Abilities

New Year Resolutions for Entrepreneurs – Enhance Your Leadership Abilities

Leadership is a constant learning process despite it seeming to be a hazy resolution. Being a good leader is one of the most difficult challenges entrepreneurs confront. Gathering support when the morale is down, establishing a climate that encourages innovation, delegating work properly, out-of-the-box thinking, and never losing sight of where you want your company to go are some of the things you can do to boost yourself as a leader. With a range of distinct leadership styles to choose from, the leadership style you choose will impact your startup’s culture and capacity to flourish. Proper communication is also expected from a leader; it has been a hot topic in the past months and will remain one of the most essential attributes for every leader in the upcoming year.

With the help of solid leadership, you’ll be surprised how far you can go. This is the year to mix things up, get out of your comfort zone, and learn new methods to drive your business ahead, thus becoming an exciting leader.

Take Care of Your Health and Avoid Burnout

Returning from a relaxing festive trip with enthusiasm to strike the ground running in January may be rather exhilarating. It’s fantastic to take advantage of the extra energy that comes from resting and spending time with loved ones, but before you rush fully into work in 2025, make a strategy to avoid burnout this year.

It’s no secret that many small company entrepreneurs put in long hours. But how can you expect to manage a business efficiently if you’re fatigued and burned out? Burnout is harmful to you, your company, and your personal life. Mentally, physically, and emotionally, you must be in good health. We all have various limits, and we can only work to that extent. There is also a threshold when dealing with stress. So, you need to make sure that you’re running your company healthily without fatiguing yourself in order to go for long.

Knowing when to take a break, establishing clear limits, and asking for help are excellent methods to avoid burnout. Give your immune system a shot in the arm. You will be more productive and happy if you eat well and exercise often. This implies you’ll take fewer sick days and complete assignments on schedule.

Create Realistic Organisational Processes

If you want to start the new year feeling energetic, you must do this. Take some of the weight off yourself by sharing the knowledge with your colleagues. It will only be beneficial to the firm and its operations. The delegation will be made more straightforward as a result of this New Year resolution.

While the whole idea of making business resolutions may be to be overly ambitious, taking a more realistic approach can sometimes be beneficial. While many individuals enjoy arranging their homes at the start of the year, you can do the same with your business. And creating natural processes is fundamental to every excellent organizational structure. Take a close look at what worked and didn’t work for you and your team in the previous year.

It’s all too tempting to get caught up in the enthusiasm of a new year and set your sights on significant improvements. However, to be sustainable, an organizational structure must be reasonable.

What procedures appeared to be causing more bother than they were worth? Which of these had to be refreshed several times because the system was too difficult to keep up with? Use the information you’ve gathered to adjust your processes for 2025.

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Give Back to People & Community

Everyone has had a difficult time during the last two years. So, please take a minute to thank the community for keeping your business afloat during these trying times and then give back to it. Giving back to the people who help you succeed is a simple way to express gratitude.

Volunteering or mentoring are some of the most rewarding things you can do. Connect and reach out to someone who is just getting started and might benefit from your advice as part of a community. Donate your time and money, as well as resources, to assist individuals in your community get the support they need. Please demonstrate that you have their backs as much as they have yours. You’ll be recognized as generous as well as someone with whom people desire to work. Sharing a few hours to help others will be rewarding and will also allow you to cultivate empathy and recall why you started your business.

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Develop a Performance Management Plan

New Year Resolutions for Entrepreneurs – Develop a Performance Management Plan

You may update your performance plan with your expertise and knowledge now that you’ve already determined the marketing activities that benefitted your firm the last year and those that didn’t. Your staff is a critical component of your business, and its success may either assist or hinder it. If you want to feel safe when you’re not at work, you’ll need a performance-management plan. Your new strategy should eliminate anything that didn’t work before focusing on your company’s most effective. New tactics are welcome to be included as well. This can help you choose where you should spend your marketing budget in 2025 to obtain the most return on your investment. This strategy might help your staff stay focused on the company’s objectives. You’ll also be able to recognize who needs additional training or is ready for a leadership role, and you’ll be able to make more objective decisions about staff changes and compensation.

Set Clear, Realistic Deadlines

Deadlines are always important when it comes to working. Furthermore, when it comes to running a company or being an entrepreneur, it is more than essential to abide by strict deadlines. In case they are not there, then draw your own deadline. However, it is essential to note that the deadlines you draw are not unreal. So, in this new year, try to set precise deadlines that you can achieve.

Resurrect the Abandoned Projects that Still Have Scope

Life gives us opportunities to start with something new, but we rarely find time enough to resume the unfinished projects that we left in the midway. Most of these projects are left undone by the entrepreneurs due to the lack of funds or relevant markets to earn profit from them. However, the markets can also reverse at any time. This is why it is important to check out the projects that are yet to be completed and analyze the markets for them before starting them again. If they are to be started, then let’s start them with this new year, 2025!

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Stay Updated With Your Website

Entrepreneurs and their businesses are all mostly digital now. Therefore, it is also important that their own identities via personal websites are also well-maintained online. If you are an entrepreneur, and it has been quite some time since you have last updated your website, then update it now as the new year’s resolution to reap all the benefits ahead!

Stop Overburdening Yourself

Work, work, and work lead to nothing but piling tensions, intensifying headaches, and serious burnouts. It’s great if you have already understood the aftermath of burnouts but if you are yet to do so, then stay cautious and stop overburdening yourself before it is too late!

Try to Devote Time for Your Family

Our families are almost as important as our careers, if not more. Cracks in our career or business can heal, but relationships are difficult to mend, and the scare that a sour relationship leaves on us probably stays forever with us. Therefore, realize your priorities and dedicate some time, at least, to your family and dear ones who love you and care for you!

Monitor Your Health

Our health is our priority, and it is one of such priceless assets that simply cannot be overlooked. Good mental and physical health leads to a successful career but once our health goes bad, the whole thing can mess up badly. Therefore, it is necessary for you to understand your physical and mental health condition and take immediate action to repair it as soon as you discover something is wrong with it.

Counter Your Fears

We all have our own set of fears. From the employees to the business owners, entrepreneurs, and others, everyone is afraid of something or the other related to the work they do. For example, an entrepreneur may be afraid of facing disappointments, failing in his/her endeavor, waning funds, and more. However, it is essential that they are ever ready to counter the worst of their fears with regard to their business. So, let 2025 be the start of the entrepreneurs enabling themselves to counter their fears.

Be Digitally Strong and Active

Digital is the way of the world and all businesses today are relying on the digital platform for their growth. So, it’s not uncommon that entrepreneurs are also highly motivated to stay digitally active. This not only helps them stay informed about their rivals and requirements but also aids them in building their network online. You should also start boosting your digital presence and staying active, at least for the sake of the new year.

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Understand and Improve Your Finances

New Year Resolutions for Entrepreneurs – Improve Your Finances

Financial health is really important, whether it is for businesses, individuals, or entrepreneurs. Understanding one’s finances and improving them is a priority, especially when it comes to budding entrepreneurs and professionals. So, stop being reluctant to know about your financial health, analyze it deeply, and take adequate steps to improve it!

Be in Touch With the Current Affairs

The present is where we live and this is why we need to stay abreast of current affairs. Keeping track of the recent events and happenings around the world is the duty of everyone as an individual and more so when it comes to entrepreneurs. Staying informed of current affairs helps entrepreneurs know of their own position and that of their business, analyze the market efficiently and stay ahead of their rivals and peers.

Spend More Time With Your Employees

It is essential to monitor the employees’ performances and give them the feedback that they owe. However along with it, it is also necessary that the employees get an ample amount of support from their employers and other key executives of the company. This helps boost the morale of the employees, thereby giving a boost to overall productivity. So, without further ado, start spending some more time with the employees so that they feel that they belong somewhere in the organization.

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Hire Smarter

It is the employees that make up a company. Smart and effective employees always stand the best chance of survival in a competitive environment. The hiring process can be held responsible for the batch of employees hired. This process of hiring employees should be strong enough and should sieve in the best employees required for the roles.

Write a Personal SWOT Analysis

SWOT is the acronym for Strengths, Weaknesses, Opportunities, and Threats. A SWOT analysis is a buzzword in today’s businesses, and SWOT is certainly necessary regardless of the type, region, and nature of a business. However, it also stands to be an important analysis for the employees and even the entrepreneurs as individuals. Now, if you are an entrepreneur and you have never thought of doing a SWOT analysis on yourself, then you are certainly away from all that you can achieve ahead. So, kickstart the new year with a revealing SWOT analysis of yourself that will help you know your weaknesses and identify and capitalize on your strengths while being informed about all the opportunities that lay ahead and the threats that are hovering above.

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Cultivate a Positive Workplace Atmosphere

New Year Resolutions for Entrepreneurs – Positive Workplace Atmosphere

Embrace a fresh start this year by fostering a positive workplace vibe. Prioritize creating an environment where feedback is welcomed, and all team members are heard. A content team equals a more efficient one, while an overwhelmed and unhappy team leads to resignations. Tap into the power of positive motivation to boost productivity. As a New Year resolution for entrepreneurs, commit to supporting your team and consider self-kindness. Explore ways to enhance the overall work experience for everyone.

In the new year, make it a goal to keep things upbeat at work. Encourage everyone to share their thoughts, and be sure to listen and respond. Happy teams work better, while stressed-out ones might start looking for new jobs. Positive vibes really do boost how much work gets done. Entrepreneurs, think about how to improve your team’s work life in the coming year. And don’t forget to be nice to yourself too!

Start Embracing Technology

Embrace technology to ensure your business flourishes; staying updated is crucial. Even before the Digital Age, entrepreneurs knew that they risked falling behind without adopting the latest tech. Resolve for the new year: learn and apply current technology. Your competitors are doing it, so facing this fear is key to staying competitive. Embrace change, learn, and thrive in the tech-driven business landscape.

Also, start with the easy things when you’re getting into tech stuff. Don’t stress about big changes. Try out simple tools first, then go bigger when you’re ready. This way, you won’t feel overwhelmed and get the hang of using tech for your business. Taking small steps helps you build confidence and makes your business stronger.

Embrace Sustainability Practices

New Year Resolutions for Entrepreneurs – Embrace Sustainable Practices

In 2025, let’s resolve for our business to be kinder to the planet. Being eco-friendly means making choices that don’t harm the environment, like using energy-saving tools and creating less waste. It’s not just good for the Earth; it also makes customers and investors happy. Entrepreneurs can further commit to sustainability by integrating it into their corporate culture. Educating employees about the importance of sustainability and involving them in eco-friendly initiatives fosters a sense of shared responsibility. This cultural shift can lead to innovative ideas for sustainable practices within the company, creating a positive ripple effect beyond the business itself. Making sustainability part of our company culture is a win-win: good for business and good for the Earth!

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Prioritize Strategic Business Planning

Entrepreneurs should prioritize strategic business planning as a cornerstone of their New Year’s resolutions. A comprehensive business plan guides the company towards defined goals and objectives. Entrepreneurs should meticulously outline their strategies, incorporate key performance indicators (KPIs), and anticipate potential challenges. This proactive approach provides clarity in decision-making and enables effective resource allocation. Embracing strategic business planning as a resolution ensures entrepreneurs have a clear vision for the year, fostering adaptability in a dynamic business environment and laying the foundation for sustainable growth and success.

Listen Closely To Customers

Entrepreneurs should make a resolution for the new year to pay close attention to their customers. This involves actively listening to customers and taking into account their feedback on their experiences with the business. By doing so, entrepreneurs can gain valuable insights into what their customers appreciate or dislike about their products or services, and make necessary improvements. Effectively, it’s like having a roadmap for enhancing the business and ensuring customer satisfaction. Therefore, in 2025, let’s set a goal to always listen attentively to our customers’ feedback.

Focus Global Expansion Strategy

In the new year, entrepreneurs should think about reaching more people around the world. This means making a plan to sell or offer their products or services in different countries. By doing this, they can grow their business and find new customers. It’s like opening doors to exciting opportunities and being ready for changes. Setting clear goals, studying new markets, and working with others can help make this global plan successful. Making a resolution to expand globally can make a big difference for entrepreneurs, helping their businesses grow and thrive. By taking steps to expand globally, entrepreneurs can create more chances for success and make their businesses stronger than ever.

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Diversify Revenue Streams

New Year Resolutions for Entrepreneurs – Diversify Revenue Streams

This year, entrepreneurs should aim to make more money in different ways. Relying on just one way can be risky if things change. By offering new things or reaching out to different customers, businesses can make extra money. This helps them stay strong, even if things in the market change. It’s like having a backup plan, making sure the business can adapt and keep going strong for a long time.

Master Time Management

New Year Resolutions for Entrepreneurs – Time Management

Time blocking helps you set specific times for different tasks, reducing distractions and boosting productivity. Delegating tasks to others lets you focus on more important activities. Using tools to automate tasks, like scheduling social media or managing emails, can save time and effort.

Focus on Continuous Learning

Keep up with the latest trends, technologies, and best practices in your industry. Focus on growing your skills by taking online courses, attending workshops, or finding a mentor. Set aside time to read books, articles, and blogs about business, leadership, and personal development.

Embrace Innovation

Foster a culture of experimentation in your business by trying new ideas and taking smart risks. Embrace new technologies that can boost efficiency, improve customer experiences, and support growth. Keep innovating and refining your products or services to stay competitive.

Conclusion

These resolutions will help you start the new year 2025 with a renewed boost, thereby helping your company significantly in its growth and steering it away from any dangers that are likely to befall it. Listen to the employees’ and the customers’ inputs, experiment with new tools and marketing tactics, track performances, clean up your business mess, and give back to your community to become a great entrepreneur in the coming years.

StartupTalky salutes your inner entrepreneur and wishes you a very happy and prosperous new year ahead!

FAQs

What are the top 5 New Year’s resolutions for entrepreneurs?

The top 5 New Year Resolutions for entrepreneurs to make in 2025 are:
- Enhance your Leadership Abilities
- Take Care of your Health and Avoid Burnout
- Create Realistic Organisational Processes
- Give back To People & Community
- Develop a Performance-management Plan
What are the qualities of a successful entrepreneur?

Some of the qualities to be a successful entrepreneur are:
- Leadership qualities
- Risk-taking abilities
- Great communication skills
- Clear vision
- Curiosity and ability to learn
Who are the young top entrepreneurs in India?

The top 10 young entrepreneurs in India are:
- Ritesh Agarwal
- Trishneet Arora
- Tilak Mehta
- Bhavish Aggarwal
- Divya Gandotra Tandon
- Sreelakshmi Suresh
- Akhilendra Sahu
- Farrhad Acidwalla
- Kavita Shukla
- Ranveer Allahbadia
December 26, 2024
10 Skills Investors look for in an Entrepreneur | How to impress an Investor?
The internet along with modern technology has seen a boom in the past decade. It has stimulated a lot of young people to turn into entrepreneurs by crafting their unique business ideas. The 2021 Entrepreneurial Spirit Index published by IPSOS shows 29% of Generation Z ranked as having a very high entrepreneurial spirit, compared to 36% of Millennials, 33 % of Generation X, and 25% of Baby Boomers. As of 2022, there are reportedly 582 million entrepreneurs worldwide. This growth has encouraged more people and companies to become investors.

The business you start might have huge market potential. But, for it to reach a wider market and attain success beyond the geographical limit, it needs constant financial support. This financial aid is offered by Investors and VCs who are always choosy about their investments. Investors expect certain qualities from entrepreneurs before they decide to invest. So, what are they? What are the qualities that an investor looks for in an entrepreneur? Let’s see.

10 Skills Investors look for in an Entrepreneur
How to attract investors?

10 Skills Investors look for in an Entrepreneur

Here are some of the entrepreneurial skills to impress an investor.

In-depth Business Knowledge

Pitching your business plan to investors requires inside-out knowledge of your business and its market. An excellent idea portrayed with poor business knowledge can be fatal. Moreover, the confidence with which you approach the investor has a direct effect on the funding. In-depth business knowledge gives you that confidence.

Before preparing your presentation for investors, gain clear knowledge about the scope and problems of your business and market. Construct a plan to solve those problems. You can gain that by interacting with your prospective customers and other market experts. Look for the questions, criticisms, and suggestions that the investor might toss at you. Be prepared for such things so you can provide a satisfactory response.

Team Building Skills

Many investors prefer to invest in businesses that have a good team. As Will Herman, a popular Angel Investor himself said, he believes in a founder who has a good team. It includes not only the co-founders but also the management team as a whole.

Every person can’t be an expert in all aspects of the business. So experiencing yourself in what you’re good at and building a team for other aspects can gain you a positive note from investors. Even an average business idea can be executed exceptionally through a good team. If you’re desperate about getting the investor’s concern, then knock on their doors with a competitive squad.

Precision in Fund Requirements

Being clear about the amount required and the ways of utilizing them is a significant factor seen by Investors. Opting for an open-ended request for funds shows your lack of business awareness. Get to know the market well and be as accurate as possible in your need for funds.

Determining the channel of fund flow is another important and challenging factor. You need to be more specific to the investors regarding what ways their money will be utilized. It could be for customer acquisition, product development, or anything. Pitch them with specific numbers to gain their interest.

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Communication Skills

The primary quality of a good entrepreneur is his Communication skills. The success of a business depends on the coordination between various departments, teams, and stakeholders. All these can be successfully bridged through effective communication by the entrepreneur.

Therefore investors expect entrepreneurs to be good communicators for effectively managing the business. This will be keenly observed during your pitching. Now, what makes one a good communicator? Deep knowledge develops confidence and this, in turn, grooms you to be a good communicator.

Passion towards Business

Create a vision for your business and develop a sense of passion while running towards it. The more passionate you are, the more determined you’ll be towards achieving your goal. The path to success in business will be loaded with ups and downs. How you overcome it depends on how passionate you are about your vision. Investors look for such dedicated and vision-driven entrepreneurs to invest their money.

Organizational and Leadership Skills

The success of the business depends on the way it is organized and managed. Coordinating teams, assigning appropriate tasks, and motivating them towards the company’s goals are some of the functions that come under organizational and leadership skills. A leader inspires his employees directly. Therefore, this skill becomes essential for the success of a business. Due to its impact on their investment, investors expect this quality in you during pitching.

Adaptability and Learning Skills

An entrepreneur should always be open to learning and suggestions. Adapting to the constantly changing market is a crucial skill that an entrepreneur should possess. It keeps you alive in the face of a competitive market.

Experienced investors may provide you with advice regarding the business. Even some people you meet, customers, or your failures might teach you something. You must keep yourself open to such learnings. Failing to look around and close yourself off might land you and your business in trouble.

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Problem Solving Skills

Every entrepreneur must possess problem-solving skills to deal with day-to-day business challenges. Problem-solving is a combination of various other skills like analytical and critical thinking. It starts from identifying a problem and may involve taking complex decisions for business growth. You can develop this skill by going through various case studies of organizations and thinking from their perspective.

Strategic and Critical Thinking Skills

Strategic and critical thinking becomes essential for the overall development of entrepreneurial skills. You should be able to foresee problems from various perspectives to arrive at the best solution. Critical thinking becomes essential for making strategic business decisions.

Developing the skill of thinking strategically and critically would help you out beat your competitors and expand your market reach.

Marketing Ability

Communication skills will help not only to sell your ideas to investors but also your products to customers. This requires a clear understanding of customers’ needs and preferences, your competitors, market conditions, and other external factors. Investors look for your team’s ability to convince a person and make them buy your product or service.

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Conclusion

Investors believe more in you than your business plan or products. Their investment depends on the value of trust you offered them. Trust can be built from possessing a combination of various skills mentioned here. Gaining as many skills as possible is always an added advantage to you and your business.

FAQs

What are the 10 Entrepreneurial skills?

10 important entrepreneurial skills an investor looks for in an entrepreneur are:
- In-depth Business Knowledge
- Team Building Skills
- Precision in Fund Requirements
- Communication Skills
- Passion towards Business
- Organizational and Leadership Skills
- Adaptability and Learning Skills
- Problem Solving Skills
- Strategic and Critical Thinking Skills
- Marketing Ability
Who are the top angel investors in India?

Some of the Top angel Investors in India are:
- Rajan Anandan
- Mohandas Pai
- Ratan Tata
- Anand Chandrasekaran
- Anupam Mittal
- Kunal Shah
- Dheeraj Jain
- Gokul Rajaram
- Amit Somani
- Vijay Shekhar Sharma
December 12, 2022
Building a Successful SaaS Startup: A Practical Framework That Really Works

The article is contributed by Pankaj Gupta, Founder and CEO, EnableX.io

The Indian SaaS industry is now firmly on the upward growth trajectory. As per the Zinnov’s Punching Through The Global Pecking Order report, in 2022 alone, the Indian SaaS industry saw a whopping 50% rise in revenue and a 3x increase in VC funding. This makes it abundantly clear that the country’s SaaS ecosystem has finally come of age. While the market is growing at breakneck speed, building a successful SaaS business is not easy. Like any business, it takes time, effort & a lot of innovation to scale a business in today’s ever-evolving environment.

Launching a SaaS company involves many steps, which can be daunting for first-time entrepreneurs. Let’s go over the process of getting your software business started:

1. Getting an Initial Set of Clients

No matter what industry you’re in, every founder has the same burning question: “how will I get my first 10 customers?” The best way is to start with your existing network. It’s low-hanging fruit. Talk to the people you know. It may not yet be a big number, but in the process, you may find a few relevant connections among your friends and family. And don’t get disappointed if none of them is directly interested in using your service; they might refer to somebody who may need it.

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2. Things Founders Must Focus on Amidst Noise

You’re off to a good start if your product addresses a pain point or fulfils a burning need for someone and does it better, quicker, and/or cheaper than its competitor. Here are the following things that can be helpful:

Build a Quality Product

The success of a business depends on how well you understand the market needs and then build a product that addresses the users’ needs or problems. Therefore, spending some time and resources to understand customers’ requirements is fundamental & key to success. Once you’ve established a product-market fit, you are on the right path.

Be Agile

Change is the only constant, and this maxim is truer for SaaS companies. The business landscape is changing so fast that it may become obsolete by the time your product hits the market. Agility is not just about the product features; it includes everything – IT stack, business model, and culture. It should be nimble and should be able to respond faster to remain competitive. Therefore, it is essential to have a keen eye on the changing market landscape, evolving customer preferences, and competitors.

Establish Robust Customer Support

It might sound a cliché, but your customers are the heart of your business. Apart from the product quality, they always want to know how fast their problems can be resolved satisfactorily. Therefore, build robust customer support service that enhances the overall customer experience.

Even if you don’t have the financial muscle to put a 24*7 customer support team, there are many options. You can use Twitter and Facebook to provide quick support. You can also implement a ticket system to manage the support request or can put a well-defined FAQ page/User Guide on the website.

3. Building a Team That Delivers

It is essential to have a clear vision, commitment, and sincerity to realize your vision as a founder. You must believe in your product and have a clear roadmap of how you want to take it forward. And most importantly, you need to build a competent team that can help realize your vision. While hiring people, pay attention to skills, but it should not be the sole factor. Along with qualifications and skills, hiring people with a growth mindset, the right attitude & cultural fitment are key. Also, be extra careful while building your initial team as these are the set of people who are more likely to stay with the company for a long time. They should exhibit a clear commitment and drive to achieve something and excel in their work in a fast-changing environment.

4. Staying Abreast with Trends

As a founder and also your team members should be fully aware of what’s happening in the industry and what’s hot in the space. And of course, keep an eye on the competition. Know what your competitors are doing, what features they have built & what is their overall strategy. Keep tracking industry trends, technology and other news items pertaining to your industry. Networking with other startup founders, and attending industry events and peer groups is the best source to have a sense of what is happening in the environment around you!

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Conclusion

Building and sustaining a SaaS business can be exhilarating and overwhelming at the same time. Though there are many steps to take before you can even start thinking about making money from your SaaS business, the points discussed above are crucial to starting right!

June 3, 2022
Google for Startups – An Accelerator Program By Google to Support Startups
Google for Startups is an accelerator program by Google for supporting Startups and helping them grow. It provides mentorships, training, and, guides entrepreneurs to find solutions for the challenges they face in building and growing their startups. StartupTalky took an initiative to know the details of the program – Selection Procedure, challenges to be addressed, help for women entrepreneurs, and more.

Here are insights into Google for Startups by Paul Ravindranath G – Program Manager, Developer Relations & Head of Google Accelerator at Google India, Bangalore.

How is Google for startups different from the traditional accelerator model?

The Google for Startups Accelerator helps startups build successful products and businesses by focusing on 360* needs of the company and founders. Our needs analysis for selected startups helps us define a custom support plan for each of the startups that meet them at their point of need. Not only is there focus on solid tech, product strategy and growth but also on people and leadership.

How is the selection procedure for startups?

When applications open, startups can apply directly at the accelerator tab of Google for Startups.

GFS Accelerator looks for startups that are meaningfully and scalably solving for the challenges of the current times. The program is vertical agnostic, but given the need to further innovation in an increasingly digital-first world, we are carefully considering verticals such as Edtech, Healthtech, Fintech, Retail & Logistics, Media & Entertainment, Agritech and Gaming.

The 3 months mentorship program selection process has some basic eligibility criteria such as:
- Startups need to be based out of India
- Should preferably in the seed to Series A, B stages
- Deep understanding/application of new-age technology
What areas do most startups at the program struggle with/ What problems do they expect you to address?

The program’s focus is a founder-first, founder-friendly approach to support startups in solving their business, operational, and technology challenges.

Startups face a varied set of challenges at different stages of growth and maturity. Since the accelerator is a stage agnostic program, it presents the opportunity to work with startups facing diverse challenges. With a strong mentor base and methodologies to help with various areas, the program can address key challenges faced by founders.

User Experience/User Interface, Product Strategy, Tech Architecture, Growth and Marketing and People Development tend to be the main areas where the program can add value to startups.

Additionally, we also provide them with extensive training on leadership along with robust strategies for building company and product capabilities. As part of this program, founders outline the top challenges facing their startups and are then paired with relevant experts from Google and the industry to solve those challenges.

We can see an inclination among startups towards AI and ML, where they adopt predictive decision-making capabilities, making them vital for scale based solutions.

Is the support more tech-centric or spread across different domains? Do you plan to expand the horizon?

Accelerator helps startups scale and be successful with strong product strategy and a robust and scalable technology approach. The 360* approach we take helps address all the key areas of concern for a startup. The goal is to constantly look to add on expertise and methodologies to help startups thrive.

Every startup is unique and has different needs, how do you address their needs individually?

With every class batch we attempt to identify some unique and interesting startups. Each of these businesses have different requirements and different business challenges. The accelerator is looking for startups at all stages of development that are not only using cutting-edge technology but are also helping India, and potentially the rest of the world, adapt and move forward especially in a post pandemic world.

At the very beginning of the program, selected startups go through a complete needs analysis with a panel of experts and mentors. This exercise helps us build distinct goals and objectives for every startup that are addressed through a mentoring bootcamp, access to mentors and Google teams to help in moving their goals.

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What are few areas which Google for startups provide a unique value? Does it help in connecting partners with govt agencies or a few of the best customers?

Startups are connected to mentors from all over the world through the accelerator programme. As part of the programme, we have over 20 Google teams and hundreds of industry experts who assist with operational, technology, and business difficulties. Mentors bring expertise across a wide range of areas such as User Experience and User Research, Technology covering Android, Cloud, Web and more. Marketing & Growth, Leadership are other key areas.

Additionally, the startups also find themselves to be eligible for the following perks, once they are part of the Google for Startups Accelerator Programme.
- Equity-free support
- Technical training on design, people, product, and growth marketing
- Support on high-level company and product strategy
- Google product credits and early access to new services
What’s the format/curriculum of the program? Does it change every year?

Google for Startups Accelerator India is a three-month cohort based program. There are typically 2 cohorts a year. While the accelerator team is based out of Bengaluru, the scope of the programme expands over the country where we handpick the best and the most promising startups to be a part of the batches.

In light of the constraints posed by the pandemic, the accelerator currently runs as a fully digital program but is hopeful of going hybrid as things improve. During the beginning of the program, we work with the startups selected into the accelerator to determine each startup’s challenges and support required from the program. Then these startups go through an intensive Bootcamp around topics such as Product, Design, Technology, People & Growth, followed by the OKR (Objective Key Results) workshop to define their objective for the next 3 months.

Have you ever considered a program specifically for women entrepreneurs or tier2 or tier 3 city startups?

Despite the many strides in diversity and inclusion efforts in different industries in India and the world, we remain at some distance from true and proportionate representation of women in the workforce – be it in leadership, entrepreneurship or otherwise.

This is a gap that we are committed to closing through various efforts within Google and beyond, across all the communities we support. Our ongoing efforts to support women entrepreneurs are one of these. To showcase our belief in the Indian women entrepreneurs, for our 6th batch we have selected around 35% of women-led startups in the mix and comprising a mix of B2B & B2C startups between Seed and Series A stages.

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Do the alumni startups contribute in any way to the program?

With over 100 startups graduating from the program, we have a broad set of alumni, including unicorns like Sharechat. Several Alumni give back to the program with their recommendations of great upcoming startups. They come forward to support the cohorts as mentors, speakers and more.

Could you please share some insight on the success rates of the startups after the program?

The Google for Startups Accelerator has mentored over 116 startups, who have collectively raised over $2 billion in funding and contributed significantly to India being one of the world’s largest startup ecosystems.

Startups solving for key large-scale opportunities that India presents such as Drivezy, Nestaway, Sharechat were part of our early cohorts. Several companies like Niramai that apply cutting edge AI/ML tech in healthcare, specifically early detection of breast cancer have benefited with our technology input.

These startups, along with all the others in the previous batches of GFSA, continue to make an impact in the country.

Few things we (the whole startup community) can do to support startups across India?

The Indian startup community is currently witnessing a maturing cycle and even through the pandemic, growth has been solid. As a startup ecosystem few trends present an opportunity for us all to make a difference.

Women’s Entrepreneurship is an area that not only requires focus from an access-to-capital perspective, but also building programs that meaningfully provide access to networks, mentors & addressing challenges specific to women founders is key.

So also is the area of helping founders understand how to build great teams. Employability and access to good talent have been a challenge for seed to series A companies.

Enabling startups with insights, research and access is going to be key as they innovate and solve for India and the world.

The biggest support that we can provide each other in this thriving ecosystem, is collaboration across the ecosystem. Collaboration with a founder first, founder-friendly community approach can make a true impact as startups help accelerate our economy.
April 27, 2022
What’s on the Horizon for UK Tech Immigration in 2022?
The article is contributed by Gayatri Panda, Business Partner, Themis Technologies Ltd., London.

The UK tech industry is now worth $1 trillion, making it the world’s third largest behind the United States and China. The UK tech startups and scaleups are receiving more investments than ever before, such as £29.4 billion in 2021; as a result, tech hiring activities within the UK organisations have skyrocketed. According to the statistics, the number of advertised IT jobs is up 42% compared to pre-pandemic levels. As the talent competition is getting fierce globally, the UK is joining the worldwide hunt for talents with a world-leading migration system. So what are the immigration routes for international technology talent to join the UK’s thriving tech sector?

SPONSORED VISA
- Skilled Worker Visa
- Global Business Mobility Visa
SCALEUP VISA
INDEPENDENT VISA FOR EMPLOYMENT AND BUSINESS
SPONSORED VISA

A visa sponsorship means that an organisation, also known as the sponsor, is providing you a job because they are unable to fill a position in the local market. The sponsor is also legally and financially responsible for you and your activities throughout your stay in the country and must report to the UK government. There are various types of sponsored visas;

Skilled Worker Visa

A Skilled Worker visa allows foreign nationals to enter or remain in the UK to work for an authorised company in an eligible job. The Tier 2 (General) work visa was replaced by this visa route. To be eligible for a Skilled Worker visa, you must have a job offer from a UK company with appropriate salary level. After five years of stay in the UK, the Skilled Worker route can lead to Indefinite Leave to Remain (ILR) and eventually British Citizenship or British Passport.

Global Business Mobility Visa

It’s a new sponsored work visa option for international companies wanting to temporarily relocate employees to the UK to establish a UK presence or for specific commercial purposes. The introduction of the new route corresponds with the end of the Sole Representative visa and Intra Company Transfer or known as the ICT visa.

There are five subcategories in the Global Business Mobility route:
1. Senior or Specialist Worker: This visa has taken the position of the Intra-company Transfer visa. This category is for senior managers or specialists assigned to a UK company affiliated with their employer. It will not result in a settlement in the United Kingdom.
2. Graduate Trainee: The Graduate Trainee route replaces the Intra-Company Graduate Trainee Visa. This visa is intended for employees who are being relocated to the UK as part of a structured graduate training programme for a managerial or speciality post. You must have worked for your employer overseas for at least three months prior to the date of application. Graduate trainees will be paid at least £23,100 per year as a minimum wage. It does not directly lead to settlement in the UK. However, you may be able to change your immigration status to one that leads to permanent residence.
3. UK Expansion Worker: The UK Expansion Worker visa, which supersedes the Sole Representative visa, allows senior or specialised employees to enter the UK for a short length of time to carry out work related to their company’s expansion ambitions in the UK. It does not directly lead to settlement in the UK. However, you may be able to change your immigration status to one that leads to permanent residence.
SCALEUP VISA

The Scale-up visa is a newly introduced sponsored work visa that will become available on August 22, 2022. The sponsoring employer must be a scaleup firm in the United Kingdom, with annualised turnover or staffing growth of at least 20% for the three years preceding the application and a minimum of 10 employees at the commencement of the three-year period.

You need a sponsorship from a scaleup company and you must work full-time for the company in any position for 6 months. So, after just 6 months of being linked to a single company, you will be free to work in the UK in any employment of your choice. Nevertheless, the job must also meet specific standards, such as having a skill level of at least degree level (RQF level 6) and paying a minimum wage of £33,000 or the market rate for the position, whichever is higher.

After 5 years of continuous residency, you will be able to apply for settlement (indefinite leave to remain). You must have earned at least £33,000 (PAYE) in at least two of the three years preceding your ILR application.

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INDEPENDENT VISA FOR EMPLOYMENT AND BUSINESS

One of the ways the UK government believes Britain can attract high-quality migration is by implementing independent elite visa routes.

High Potential Individual Visa

The government’s attempt to attract the world’s “brightest and best” into the UK economy incorporates the High Potential Individual visa. It is scheduled to open on May 30, 2022. The High Potential Individual visa is intended for international graduates with a bachelor’s, postgraduate or PhD degree within the last 5 years from a university outside the United Kingdom that is listed in the top 50 global universities ranking. Graduates with a bachelor’s or master’s degree can stay in the UK for up to two years, or up to three years if they have a PhD. It does not lead to permanent residence in the United Kingdom, visa holders can move to another UK visa option, such as the Skilled Worker visa.

Global Talent Visa

This visa is for globally recognised world leaders or promising individuals in Science and Medicine, Engineering, Humanities, Digital Technology, Arts and Culture, and Research. This visa provides absolute freedom and greater flexibility regarding work, location, remuneration, leave and engagement with organisations. You can join a company or start your business without any restriction. This results in a settlement after 3 years if you are a leader applicant or 5 years if you are a promising candidate. The UK govt has appointed Endorsement Bodies for above mentioned fields, you need to make an application along with proof of your past achievements and future plan in line with the government guideline. Upon successful approval, you can apply for immigration.

Startup Visa

The Startup visa category is for high-potential entrepreneurs looking to establish their business in the United Kingdom. To qualify, you need a new, innovative, viable and scalable business idea that is endorsed by a UK govt appointed endorsing body. The Startup visa is valid for a maximum of two years, after which you can switch to the Innovator Visa.

Innovator Visa

The Innovator Visa is for experienced business individuals who want to start a company in the United Kingdom. You must have a new, innovative, viable and scalable business idea that is endorsed by a UK govt appointed endorsing body and you are ready to invest £50,000 to your business. Under the Innovator Visa you are eligible to apply for ILR after 3 years.

Conclusion

The United Kingdom recognises migrants as one of the most efficient means to encourage the development and investments in viable, innovative, and scalable businesses in the United Kingdom in order to drive economic growth. The UK government has done everything possible to remove barriers to innovation and business expansion, resulting in a 31% increase in the number of technology firms in the UK private sector since 2010. With this fast and easy visa support, a favourable tax regime, stable and democratic political system, strong and respected system of law and a strengthening British Pound also known as safe haven currency, the UK is becoming the home for technology experts and digital innovators globally.
April 25, 2022

How to Get a Government Loan for Startup? | List of Government Business Loans

The entrepreneurial dreams of Indians have given the country over 94 Unicorns in recent years. This number is expected to cross a century by the end of 2022. Startups across the MSME sector have been at the heart of the Indian economy and generated millions of jobs for people across the country.

It is anticipated that MSMEs alone contribute 8% of the overall GDP, and startups play a huge role in it. But unfortunately, not every entrepreneurial dream gets the chance to take off due to a lack of funds. Keeping this in mind, the Indian government offers various government loans to help passionate entrepreneurs make through.

Budding entrepreneur with a revolutionary idea in mind should use the government loan schemes to transform their ideas into action. For further assistance of all entrepreneurs, we’ve curated this epic guide that has all the information on how to avail of a government loan for a startup.

Who Can Avail Business Government Loans for Startups?
Documents Required to Avail the Government Loan
List of Government Loans for Startups

Pradhan Mantri MUDRA Yojana (PMMY)
MSME Loan in 59 Minutes
Credit Guarantee Fund Trust Scheme for Micro & Small Enterprises
Credit Facilitation Through Bank by NSIC
Credit Link Capital Subsidy Scheme

How to Choose the Best Loan Ideal for Your Business?

Who Can Avail Business Government Loans for Startups?

How to get Government business loans for startups — How to get Government business Loans for Startups

Although the precise eligibility criteria would vary depending on the government loan people take, the general criteria common across all loans are:

The applicant must be an Indian citizen
The applicant must have a robust business plan
The applicant should be more than 21 years of age; the maximum age is capped at 65
The startup must be registered as a partnership firm, sole proprietorship, Limited Liability Partnership (LLP), Private Limited company, etc
The applicant and startup must have a good credit score

Documents Required to Avail the Government Loan

People willing to avail government loan for a startup should be ready with the following documents:

KYC documents, including Aadhar card, passport, voter’s ID card, PAN card, etc
Past 12 month’s bank statement
Self-drafted, sound Business Plan
Previous year’s ITR
Credit Rating/CIBIL documents
GST Documents
Business establishment certificate
Business address proof
Any other document asked by the lending institution

List of Government Loans for Startups

Government business loans have always provided the necessary financial backing to startups. If a startup requires some financial help, the founders might want to apply for any one of the following government loans for a startup.

Pradhan Mantri MUDRA Yojana (PMMY)

Launched in 2015, this government loan scheme offers business loans to non-corporate & non-farm small and micro-enterprises. Under this scheme, startups can avail of a loan amount of up to Rs. 10,00,000. The tenure for repayment for this collateral-free loan ranges from one year to five years. Startups can avail of this loan by visiting any nearest small finance bank, microfinance institution, commercial bank, and non-banking financial company.

The Pradhan Mantri MUDRA Yojana provides loans depending on the development stage of the startup. Hence, the applicants can find the following three segregation under this loan:

Loan Type	Coverage	Yearly Rate of Interest
Shishu	Up to Rs. 50,000	1% to 12%
Kishore	Above Rs. 50,000 to up to Rs. 5,00,000	8.60% to 11.15%
Tarun	Above Rs. 5,00,000 to up to Rs. 10,00,000	11.15% to 20%

Startup founders can apply for this loan if they’re a trader, shopkeeper, vendor, etc. Just visit any lending institution mentioned above or login to a PSB or 59 minutes portal and do the needful. They will guide further. Startups can utilize this loan as a working capital loan through the offered MUDRA card.

Pradhan Mantri MUDRA Yojana (PMMY) – Government Business Loans for Startups

MSME Loan in 59 Minutes

MSME Loan for Startups Approved in 59 minutes

As the name suggests, this loan offered by the government is approved in 59 minutes flat. Launched by SIDBI, this loan is ideal for small and medium-size startups that need capital assistance of under Rs. 10, 00,00,000 at a somewhat lesser interest rate. In some cases, the interest rate is as low as 8%.

To avail of this Public Sector Banks (PSB) loan scheme, startup founders can visit the Central Bank of India, Canara Bank, Bank of Baroda, Bank of India, SBI, etc., for a hassle-free loan application process. Once the loan application is processed and approved, the applicants can get the amount within 8-10 working days. Startup founders can also visit the PSB loan in 59 minutes portal to get more details about this loan scheme and apply.

Credit Guarantee Fund Trust Scheme for Micro & Small Enterprises

Also known as CGTMSE, this government business loan provides collateral-free loans to startups. Launched by the SIDBI and MSME ministry, this loan scheme offers a loan amount of up to Rs. 2,00,00,000 to both new and existing startups. A special preference is given to women entrepreneurs under this loan scheme. Under the CGTMSE, startups can get a collateral-free loan of up to Rs. 10,00,000. But for any amount above this value, startups will have to provide collateral in the form of any building or land attached to the primary business.

Those who want to avail of the CGTMSE loan can approach a scheduled commercial bank or select a regional rural bank classified by NABARD for loan approval. Both new and existing startups can apply for this loan engaged in manufacturing activity, retail trade, and service activity.

Credit Facilitation Through Bank by NSIC

NSIC Launched by the MSME ministry for business loans

The NSIC has signed an MoU with various banks to provide super-fast and hassle-free loans to different startups. Launched by the MSME ministry, this one-of-a-kind loan facility is provided by NSIC under the central government. The best part of this government loan is that NSIC also helps complete the full documentation and legal formalities to quickly avail of the loan.

Small or medium startups needing a short-term loan for maintaining working capital or other operations should consider applying for this loan. It is a reasonably low-interest loan and can be availed by visiting any well-known banking institution like the HDFC bank, ICICI bank, Axis bank, YES bank, etc.

Credit Link Capital Subsidy Scheme

Also known as CCLCSS, it is a loan provided by the MSME ministry and the government of India to startups for technology upgradation. Startup founders that own a manufacturing enterprise, textile startup, fabrication unit, or any business that uses machines and equipment should avail of this loan of up to Rs. 15 lakh to upgrade to the latest technology. This loan helps startups stay up-to-date regarding technology to withstand the competition at local and global levels.

How to Choose the Best Loan Ideal for Your Business?

Now that the information related to top business loans offered by the government to startups is made available, some entrepreneurs might be confused about which one to proceed with. The answer is pretty simple. Every loan discussed above has a different purpose, interest rate, credit limit, etc. The startup founders should go ahead with the one that helps the business stay afloat and even scale in the best way possible.

To apply for any of the above-discussed government business loans, startup founders can head to the respective website of the financial institution providing the loan, fill out the application, and wait for someone from the organization to contact them. Business loans offered by Government are sure to help you accelerate your business growth, so they should be applied for.

FAQs

What are the Government loans for startups?

List of Government Loans for Startups are:

Pradhan Mantri MUDRA Yojana (PMMY)
MSME Loan in 59 Minutes
Credit Guarantee Fund Scheme for Micro & Small Enterprises
Credit Facilitation through Bank by NSIC
Credit Link Capital Subsidy Scheme

How much loan can you get under the MSME government business loan scheme?

Under the MSME government business loan scheme, as an MSME, a startup/business can get a loan sanction of up to Rs. 1 crore within just 59 minutes.

What is the eligibility for a startup business loan?

Eligibility Criteria for Startup Business Loan are:

Resident citizen of India
Minimum CIBIL score of 700
Business should at least 2 years old
Annual income of business should be at least INR 2 lakhs
Applicant Should be between 21 years to 65 years of age

April 11, 2022

How to Manage Legal Compliance Issues in Startups

The article is contributed by Mr. Dhiresh, (Co-Founder & C.E.O.), Neem Tree Agro Solutions.

The fresh wave of Startups and young Entrepreneurs has started in India, which has resulted in the average age of Entrepreneurs in India to keep reducing by every passing day. Youngsters have stepped up for these initiatives with sheer will and confidence. Therefore, the enthusiasm may be high but industry experience is nearly non-existent. This makes managing legal compliance a strenuous task to carry out.

Startup word is usually more related to freshly churned out ideas and innovative discoveries and less towards legal bindings, security and proper documentation. Due to lack of resources or maybe just deficiency of proper knowledge, they tend to skip the legal compliance issues. Ideal model should be framed in such a way that it compliments the entire process keeping the legal compliance as the premise, because the lack of it confines you and causes scaling issues, which isn’t good for any startup that is looking to grow and expand exponentially.

On the other hand, even after learning about proper legal compliance techniques it is tough to maintain regulatory compliance such as reporting the GST and seed licensing returns, which prove to be too expensive for a startup. Furthermore, as India is a Union of States, compliance varies from state to state, particularly in the agriculture industry, which is a subject of state government rather than the Union government.

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One of the first things that comes to mind is that you need to get yourself a lawyer in case something goes south, one needs to consider the monetary license which one has access to. Due to likely issues with money it is sensible to look at certain online facilities available which helps startups get through initial blues, they can be vague and generic but might help you in gaining some knowledge alongside with a different perspective.

Certain skills, such as verifying the term sheet, are perfected over time. Legal compliances also play a huge role during the fundraising process. So, the first and most important step is to keep your documentation and paperwork in order if you are looking for funding. You should follow all legal rules and regulations set forth by the government and stay up to date with them.

Lack of human resources is a very pertinent problem among all the newly emerged startups, due to which they often lack in getting things updated, but you need to keep in mind that you should cover all the moral, ethical and legal grounds. Knowing your obligations as an employer, such as adhering with all necessary labor laws, is a crucial part of beginning a business. This involves obeying salary payment, provident fund, and gratuity rules, as well as workplace sexual harassment, maternity benefits, and other policies. If your company is registered with the Startup India programme, you can sign a self-declaration and be exempted from inspection for the first year from the date of incorporation or partnership registration for some laws.

Internal legal agreement is also an essential part of the legal compliances. It is an arrangement if there are more than one founder, and if somebody decides to leave or join, they should do it in a complete legal manner which is in full agreement of the other founders. Another agreement that plays an important role is the Intellectual property agreement. This agreement should include confidentiality responsibilities for the company’s information, as well as a current assignment to the company of any intellectual property that the person has developed or may develop in the future (while working with the company).

The lack of proper licensing can also lead to difficulty in running your Startup. As stated earlier, each state may have its own set of licenses and even different industries adhere to different rules set by the state governments or government declared regulatory committees, such as, Import-Export laws, FDI Policy, SEBI/RBI regulations, etc.

Approval of financial accounts, declaration of dividends, appointment of auditors, and other special business agendas are on the AGM’s regular business agenda. The AGM must be held in the jurisdiction of the company’s registered office. The first annual general meeting (AGM) must be convened within nine months of the end of the first financial year. In the event of a subsequent AGM, it must be convened within six months of the financial year’s end. Every year, there shall be one AGM, with a maximum gap of 15 months between two AGMs.

Ignoring these difficulties can impede your fundraising efforts, and certain litigations may be brought against your company. When someone invests in your vision, he will look to see how solid your legal foundation is. Your balance sheets must be kept up to date, and your transactions must be clean and traceable. Since resources are limited, it is not an easy task but if you work on it properly, the rest of the process will go smoothly.

Startup India has taken several noteworthy steps to make the startup process easier. Under the several schemes introduced by the government, it can be seen that they want the number of startups to go up and want the youth to come up with exciting ideas. This shift that is being carried out will result in increased employment, better economy, people becoming independent and many other positive effects. On the other hand, the government needs to work more to reduce the legalities that exclusively apply to startups. This will be a big relief for new startups, as well as a motivator for others.

March 21, 2022
Insights on the Indian Startup Ecosystem Shared by a Venture Capitalist

Mr. Amit Ratanpal is an alumnus of Harvard Business School with over 20 years of experience across private equity, capital markets, asset management, and investment banking with large organizations like Birla Sun Life and ICICI Group. He has also set up various domestic and global funds, through which he invested and managed ~INR 300 Cr with multiple successful exits. Leveraging his experience and strengths, he co-founded BLinC with his partner RK Rangan, to support entrepreneurs and invest in EdTech and FinTech sectors in India.

Here is an excerpt of the interview with Mr. Amit Ratanpal, Founder & MD, BLinC Invest on Indian Startup Ecosystem.

How was the year 2021 for you as an investor/VC?

It was definitely a high-momentum period as private investments touched new peaks and multiple unicorns emerged throughout the year from all sectors. 2021 was a milestone year for BLinC – we had successful exits, launched our INR 100 Cr BLinC Fund II, and also made our first investment from the Fund in an InsurTech company named Vital.

How often do you bet on the entrepreneurs and not on the ideas? And when/if you do that, what quality of the entrepreneur usually makes you do that?

As an investor, I always strive to find the perfect balance between the quality of the promoter and the scalability of the business idea. We at BLinC work very closely with the promoters of our portfolio company, and hence, alignment with the promoters plays a key role in our investment decisions. It is always great to work with experienced and honest entrepreneurs who are good at business execution, organization development, and fundraising.

What is a warning sign for you when investing in a startup?

I prefer investing in startups whose key management team is execution-focused and takes a hands-on approach to the business. Another red flag is when promoters do not have a clear understanding of what problem they are trying to solve for their customers and how significant it is.

What are some common biases you find in the Indian Startup ecosystem?

One of the most common biases in the Indian startup ecosystem is “growth over profitability”. Businesses today adopt a high-burn-high-growth strategy without focusing on profitability. However, high growth does not necessarily lead to profitable unit economics. On the other hand, there is a general bias towards funding entrepreneurs coming from top-tier educational institutions.

What are your views on the SharkTankIndia Episodes until now?

I believe the show will surely motivate all the aspiring entrepreneurs, which will further amplify the existing entrepreneurship wave in the country.

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We are seeing many startups exiting with IPO, what’s your opinion on that? How is it going to change the ecosystem?

Exits, especially through IPOs, are a great sign of success for both entrepreneurs and investors. IPO exits also generate a good amount of liquidity for the investors, who can further invest in other startups in the ecosystem, thereby, improving the liquidity in the market. I believe this phenomenon is only going more prominent over the coming years. On the other hand, the increasing number of IPOs also serves to indicate the maturity of the investors in the market, especially with regards to the acceptance of new-age business models that are yet to turn profitable.

More than 42 unicorns in 2021. What do you think caused this wave? Is the valuation justified according to you?

It is the changing consumer mindset that has enabled these Unicorns to grow. Today’s consumer prefers convenience, is very open to try new products, and is less risk-averse than the consumer of the previous decade. Most of the unicorns have tapped into this changing consumer mindset to identify and solve unique problems for their customers. For example, Licious has completely changed the way consumers order meat. I believe the valuations are steep, and there is a bubble. However, like everything, good businesses always come at a higher price.

How can we support/enable entrepreneurs in tier2 and tier 3 cities?

Entrepreneurs in Tier 2 and Tier 3 cities suffer from lack of access to quality resources. One of the most effective ways to fill this gap is to set up incubation centers in these regions in partnership with colleges, to provide access to top quality mentorship and industry experts.

What do you look forward to as an investor in the year 2022?

Budget 2022 has focused significantly on leveraging technology to penetrate deeper into the Tier-2 and lower cities in India. I expect technology-led businesses to gain significant market traction and attention from the investor community, giving rise to new unicorns in 2022. At BLinC, we are looking forward to deploying our Fund across various whitespaces identified through our internal research.

What are a few sectors you think would be hot in the upcoming year?

Education and Financial Services sectors have been very resilient through the pandemic. Companies in these sectors have a large potential to leverage technology to drive deeper penetration, and I expect these sectors to continue growing at an accelerated rate in the upcoming year.

One learning that you would like to share with founders who are looking to raise funds?

It is all about execution, prioritization, and defining the short-term and the long-term focus. Early-stage startups should have a detailed understanding of their target market, competitive landscape, and the target customers. It is critical to think from the customer’s perspective and solve at least one real pain point of the customers. It is important to consistently prioritize and make efforts to achieve the product development milestones and the targets of the business plan. While pitching to the investors, it is important to give comfort to the investors around your market understanding and your execution capabilities.

March 14, 2022
9 Reasons Why You Should Choose Entrepreneurship Over 9 to 5 Job

The possibility of beginning a company can be somewhat startling if not out and out scary. Still, there are numerous extraordinary purposes to give it a go. Nowadays, it is “simpler” than it ever has been to begin and maintain a business.

Regardless of whether a person is bootstrapping his business or has an investment, it is currently more hazardous to rely upon employment. Enterprise is fit as a fiddle and here are a few reasons why everyone ought to consider diving in as well. There are many reasons to leave a 9-5 job and become an entrepreneur. Let us see the complete story on the topic- This Is Reasons- Why You Should Leave 9-5 Job And Become An Entrepreneur.

1. Not Be Bored
2. To Be Right
3. To Be Appreciated
4. To Make Money
5. Become Your Own Boss
6. Unable to Unwind
7. Obsessed
8. To Gain Knowledge
9. Labeled a Rebel

1. Not Be Bored

If you get yourself effortlessly bored you know how others begin to view you as an issue. Nothing isn’t right with you aside from that you are exhausted with exercises that aren’t up to your potential and aren’t testing you. This absence of tests is the reason you loathed the vast majority of the classes you ever took. Take a gander at who dropped out of school to wind up distinctly one of the wealthiest men on the planet.

2. To Be Right

You need to demonstrate you’re not a maniac isn’t that so? Your companions called you insane, your manager thought you were whacked and even your mother said no chance is that going to work. Be that as it may, hello, you did it. You were RIGHT! Furthermore, now you can move around with your hands on your hips, nose noticeable all around, singing “I’m a business person…. I’m a business person….

3. To Be Appreciated

Manufacture your business, procure colleagues and take great care of them. You’ll be valued. Particularly on payday; and when you reveal to them they’re making an extraordinary showing with regards to; and when you give them a raise

4. To Make Money

The main motive when you think of becoming an entrepreneur is to earn money and if you become a successful entrepreneur you could earn a lot of money. This is one of the most important reasons to leave a 9 to 5 job and become an entrepreneur.

5. Become Your Own Boss

You may not see eye to eye with your manager, but rather you can’t fire him or her. As a business visionary, you will work for your customers, however, you can supplant and fire troublesome customers. Owning your own particular business will empower you to experience being in control of your own workday.

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6. Unable to Unwind

Dozing is impossible since you can’t kill your considerations. Your thoughts may even show themselves in your rest your psyche is never killed or on an excursion. The following morning despite everything you’re overwhelmed by the thought, diverting you from the employer should do.

7. Obsessed

You may have been named over the top since when you begin on something you have a troublesome time relinquishing it. Try not to give anybody a chance to persuade you this is a malady or insufficiency. Every single awesome business person turns out to be totally inundated in their vision — obsessed.

8. To Gain Knowledge

Regardless of whether this is one reason you set out to be a business visionary or not, your tank is presently brimming with information. One thing I’ve adapted, however: It’s greatly improved to have astuteness than information. This is also one of the reasons to leave a 9 to 5 job and start your own business.

9. Labeled a Rebel

The significance lies outside of the lines and limits of experts and you don’t think laws, approaches, and directions apply to you. You have been marked a rebel, a run breaker and would challenge gravity if you could.

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FAQs

Do entrepreneurs earn more than employees?

Yes, but entrepreneurship is all about hard work and how successful your product will be in the market. But many entrepreneurs do make less money when they were an employee.

Why are entrepreneurs better than jobs?

You are your own boss. Entrepreneurs can work at flexible times which leads to a healthy life but entrepreneurs usually have high-stress levels.

Are entrepreneurs happier than employees?

Yes, entrepreneurs are happier than employees but that comes with its own set of drawbacks which is too many failures, long working hours, low income, and high-stress levels.

March 11, 2022
10 Ways to Boost Self-Confidence That You Need to Know as an Entrepreneur
Believing in your abilities, powers, and judgments is what brings success in life. Self-confidence is a memory verse in our day to day life. Life feels meaningless without self-confidence. Self-confidence can be achieved by analyzing and identifying what you are good at, what value you add by doing it, believing in yourself and portraying it to other people. Never try to diminish or underestimate your abilities or look at yourself as a lesser human being. There is always a potential in everyone that can be built. Remember, every human is special.

There are so many advantages attached to self-confidence. It brings effectiveness, deadlines can be met on time, boost concentration and commitment in our tasks and also brings motivation. All these also helps to see challenges positively, hence reducing stress. For an entrepreneur, it’s very important to have self-confidence. Every time you meet your business partners, investors or even customers, self-confidence is what everyone looks for first. Here are 10 ways to boost your self-confidence that you need to know as an Entrepreneur.

Self-Assessment
Self-Assurance
Overcome Fear
Be Positive
Learn to Help Other People
Set Boundaries
Be Assertive
Actions and Body Language
Change Your Mentality
Always Prepare Yourself

Self-Assessment

As human beings, it is important to visualize. We tend to have a poor perception of issues when we have low self-esteem. We have set goals and it is through visualization that will take you through the processes of achieving them. A fresh mind and ideas are installed when you try to assess yourself. This not only increases confidence but also boosts ego.

Self-Assurance

The way we see or perceive ourselves is what drives our behaviour. We should stop looking down upon ourselves and must believe that we can make it. You drive towards working on what you affirm yourself. For example, if you sit down and hate yourself or start seeing yourself as ugly, who do you expect to appreciate you?.

Overcome Fear

What is this mountain that is scaring you? It is you who built that! We should come out of our comfort zones and self-pity and must learn to face all the issues head-on. The insecurities that we possess will never help us. It is the experience that makes us strong every day, so whatever challenges you, do it quite often.

Be Positive

Every time we should see ourselves as winners, don’t dwell on something that has been done by you but wasn’t a success. In life, we need to come up with realistic goals, there are times when people have been discouraged because they set targets that are not easy to achieve, avoid doing that. Set simple goals that are easy to win first, then change as you move on. This will help keep on track of your progress.

Learn to Help Other People

It is always good to touch the lives of other people and make a difference in them. We should learn to mentor people with our skills and inspire them to do their job perfectly. As we practice this, satisfaction comes naturally, this way, you realize your potential and gain new tactics to solve your own problems. Self-confidence can be built naturally if one keep these things in their mind.

Set Boundaries

Not everyone is perfect and can be a jack of all trades. Be assertive in everything and learn to be a go-getter. Learn to say no when it is necessary. Take control over your life and demand respect where you deserve it. It is the secret of achieving self-confidence.

Be Assertive

How we present ourselves determines how people will judge us. When we are self-assertive our self-esteem is built. Avoid being nervous and learn to voice your opinion. This way people will be ready to listen attentively to you.

Actions and Body Language

Take up what you have never done before, use the skills that you have, to do the impossible. Confidence starts to rise once we employ our energy. Body language speaks a lot, it can shout insecurity and it can also show that you’re ready to take over the world. Another secret to show confidence is when interacting with people try to maintain eye contact. If you are confident, people will also be confident in you.

Change Your Mentality

Low self-esteem can make you feel that other people are better than you. This makes you feel uncomfortable when associating with them. See yourself as equal with the rest, you are unique and that is what makes you strong and different. You are not less than anyone.

Always Prepare Yourself

Poor performance most of the time occurs because of poor planning. When we prepare ourselves, we become more confident. This is also a mark of competency in you, it will show how mentally tough you are. Unexpected surprises of life will never get you shocked if you have prepared yourself for anything and planned them accordingly. Gather necessary information on an issue that you want to tackle and break those tasks into small sequences so that you can manage them properly.

Conclusion

Self-confidence is one of the key things leaders should have. Decisions that you make will determine the outcome of your expectations. When you are an entrepreneur, the self-confidence that you possess shows your worth to everyone. Before expecting someone else to believe in you, you need to learn to believe in yourself. Remember, you are the leader of your life, no one apart from you can change it.

FAQs

What are the four signs of low self-esteem?

The four signs of low self-esteem are:
- Saying negative things about yourselves.
- Self-blaming when things go wrong.
- Joking negatively about yourself.
- Think that you are less than other people.
What are the three types of Self-Esteem?

The three types of self-esteem are inflated self-esteem, low self-esteem and high self-esteem.

Why Self-Confidence is important?

Self-confidence is important because it helps you in taking the challenges in life that are thrown at you.
March 4, 2022

Tag: Aspiring entrepreneurs

Enhance Your Leadership Abilities

Take Care of Your Health and Avoid Burnout

Create Realistic Organisational Processes

Give Back to People & Community

Develop a Performance Management Plan

Set Clear, Realistic Deadlines

Resurrect the Abandoned Projects that Still Have Scope

Stay Updated With Your Website

Stop Overburdening Yourself

Try to Devote Time for Your Family

Monitor Your Health

Counter Your Fears

Be Digitally Strong and Active

Understand and Improve Your Finances

Be in Touch With the Current Affairs

Spend More Time With Your Employees

Hire Smarter

Write a Personal SWOT Analysis

Cultivate a Positive Workplace Atmosphere

Start Embracing Technology

Embrace Sustainability Practices

Prioritize Strategic Business Planning

Listen Closely To Customers

Focus Global Expansion Strategy

Diversify Revenue Streams

Master Time Management

Focus on Continuous Learning

Embrace Innovation

Conclusion

FAQs

What are the top 5 New Year’s resolutions for entrepreneurs?

What are the qualities of a successful entrepreneur?

Who are the young top entrepreneurs in India?

10 Skills Investors look for in an Entrepreneur

In-depth Business Knowledge

Team Building Skills

Precision in Fund Requirements

Communication Skills

Passion towards Business

Organizational and Leadership Skills

Adaptability and Learning Skills

Problem Solving Skills

Strategic and Critical Thinking Skills

Marketing Ability

Conclusion

FAQs

What are the 10 Entrepreneurial skills?

Who are the top angel investors in India?

1. Getting an Initial Set of Clients

2. Things Founders Must Focus on Amidst Noise

Build a Quality Product

Be Agile

Establish Robust Customer Support

3. Building a Team That Delivers

4. Staying Abreast with Trends

Conclusion

How is Google for startups different from the traditional accelerator model?

How is the selection procedure for startups?

What areas do most startups at the program struggle with/ What problems do they expect you to address?

Is the support more tech-centric or spread across different domains? Do you plan to expand the horizon?

Every startup is unique and has different needs, how do you address their needs individually?

What are few areas which Google for startups provide a unique value? Does it help in connecting partners with govt agencies or a few of the best customers?

What’s the format/curriculum of the program? Does it change every year?

Have you ever considered a program specifically for women entrepreneurs or tier2 or tier 3 city startups?

Do the alumni startups contribute in any way to the program?

Could you please share some insight on the success rates of the startups after the program?

Few things we (the whole startup community) can do to support startups across India?

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Conclusion

Who Can Avail Business Government Loans for Startups?

Documents Required to Avail the Government Loan