In this era of rapid digital technology advancement and global connectivity, startups are charting new territories to find pathways to success. One essential tool gaining increasing recognition in this quest is the learning management system (LMS). It serves not just as a digital platform for education but as a growth catalyst, enabling startups to develop, retain, and nourish a skilled and talented workforce.
Among various LMS platforms, some options, such as the Totara learning management system, stand out due to their unique blend of flexibility and adaptability. These systems transcend their roles as tools to become strategic partners, forging potent opportunities for startups to surge ahead.
Read on to delve into ways LMS can contribute to your startup’s success and learn actionable strategies to maximize its benefits.
In the dynamic startup environment, leveraging knowledge is essential to attaining a competitive edge. A well-integrated LMS acts as an accelerator, enhancing the intellectual capital within your team. It promotes continuous learning, empowering team members to adapt to changing market trends, and fueling startup growth.
Here are the primary ways an LMS enhances skill development:
Customized Learning Pathways: You can customize the learning content based on each team member’s role, needs, and skill gaps. This customization promotes effective skill enhancement.
Collaborative Learning: An LMS can convert learning into a shared experience. Features like discussion forums, chats, and virtual study groups foster a collaborative learning environment, honing technical and soft skills.
Culture of Lifelong Learning: By consistently providing fresh and relevant content, an LMS helps build a culture of lifelong learning. This enhances productivity, fosters creative thinking, and fuels startup growth.
Accordingly, an LMS doesn’t merely disseminate knowledge but transforms your startup into a learning organization, evolving it from a fledgling venture into a potential industry frontrunner.
Bridging the Gap Between Learning and Application
Knowledge acquisition is merely the first step in the learning journey. The actual power of learning emerges through its practical application, delivering significant outcomes for your startup.
Here are some ways an LMS helps in this transition:
Practical Simulations: An LMS provides simulation opportunities, allowing your team to practice new skills in a controlled, risk-free setting, making learning more engaging and interactive.
Project-Based Learning: Assigning projects within the LMS reflecting real-world problems enables your team to apply their learned concepts, reinforcing their comprehension.
Instant Feedback: As your team interacts with learning material and undertakes assessments, they receive real-time feedback on their performance, facilitating prompt identification of improvement areas and corrective actions.
Gamification: Features like leaderboards, badges, and points gamify the learning experience, motivating employees to participate actively and apply their knowledge.
An LMS is more than a knowledge repository; it’s a platform promoting knowledge application, delivering tangible results for your startup’s growth.
Cultivating Innovation Through Learning
Innovation is the lifeblood of startups, and nurturing an environment that encourages creative thinking is paramount. An LMS serves as a conduit for cultivating innovation within your startup, fostering a mindset of continual learning and growth.
The following are some ways an LMS fuels innovation:
Access to Diverse Knowledge Resources: An LMS provides diverse and dynamic learning resources. Your team gains exposure to a broad array of knowledge, encouraging them to think outside the box and foster creative solutions.
Collaborative Learning: By facilitating a shared learning environment, an LMS promotes idea exchange and collaboration, potentially sparking fresh insights and innovative problem-solving approaches.
Continuous Learning Environment: With an LMS, learning isn’t restricted to fixed schedules. Your team can access content anytime, allowing them to learn at their own pace and keeping their minds open to new ideas and concepts.
Through these avenues, an LMS becomes a powerful tool to foster innovation. By facilitating access to diverse knowledge, promoting collaboration, and keeping your team abreast of the latest trends, it paves the way for innovative ideas to sprout and influence your startup’s growth trajectory.
Enhancing Workforce Retention
Workforce retention is a critical factor in startup growth. A high turnover rate can inhibit progress, cause instability, and escalate recruitment costs. Conversely, retaining talented employees facilitates the construction of a stable, skilled team capable of driving your startup forward.
Here’s how an LMS can improve workforce retention:
Employee Engagement: Enhancing employee engagement is a critical function of an LMS. When you deliver personalized learning experiences using an LMS, it’s more likely that team members will find the content engaging and relevant. This increased engagement, in turn, strengthens their commitment to your startup, contributing to workforce retention.
Career Development: An LMS provides resources for skill enhancement and professional growth. By investing in your employees’ career development, you demonstrate their value, increasing loyalty and reducing turnover.
Recognition and Reward: Gamified learning and badges for course completion within an LMS can deliver a sense of achievement and recognition. These reward mechanisms can motivate team members, making them feel appreciated and inspiring them to stay.
By focusing on these areas, an LMS can significantly contribute to employee retention, creating a strong and dedicated team ready to propel your startup to new heights.
Actionable Steps for LMS Implementation
Implementing an LMS can be a game-changer for your startup, but the process requires thoughtful planning and execution.
Here are some specific steps to help you effectively utilize this powerful tool:
Define Your Learning Goals: Clearly outline your goals with the LMS. Your objectives could range from skill development to fostering a learning culture or driving innovation. Clear goals guide the implementation process and help measure your LMS’s success.
Choose the Right LMS: All LMS platforms aren’t equal. Choose one that aligns with your startup’s needs, offers flexibility, and can scale with your growth. Consider features, user-friendliness, and customization options as essential factors.
Encourage Employee Ownership: Foster an environment where employees take charge of their learning. Encourage them to set personal learning goals, explore diverse resources, and actively engage in the learning process.
Remember, the successful implementation of an LMS is a journey, not a destination. Regular evaluation and adjustments will ensure your LMS continues to contribute to your startup’s growth effectively.
Conclusion
Integrating an LMS into your startup’s operations can catalyze growth, foster innovation, and cultivate a robust learning culture. It’s more than just software; it’s a strategic asset for empowering your workforce and positioning your company for sustained success. Now is the time to leverage this technology to its full potential. Take the first step today and watch your startup thrive.
The article has been contributed by the QuickCompany’s team
India has secured the 3rd most prominent position in the world as an ecosystem for startups with a strength of 77,000 DPIIT-recognized startups across 656 districts, while China and USA hold the second and first positions, respectively. Since 2014, it is remarkable how India has climbed up to secure the place. It is a moment of pride that India has left China behind in the global unicorn race, with funding CAGR(Complex Annual Growth Rate) between 2014 to 2022 of 49% in India against 12 % in China and 33% in the USA; as well as year on year growth of unicorn in India by 300% between 2020 and 2021 in comparison to China with 267%.
This count is reported as of 29th August 2022, making India rank 2nd in innovation quality and 1st in the quality of scientific publications, as well as in the rate of universities among developing economies. Between 2014 and the first quarter of 2022, 57,000 startups were launched in India, out of which 100 have entered the Unicorn Club, and 17 are listed.
Bengaluru is known as the startup capital of India, whereas Maharashtra has the highest number of startups in India.
Indian States and Union Territories Contributing to the Startup Ecosystem
The innovations are expanding beyond the specific sectors, unlike a few years back. The recognised startups in 56 industries are divided into 13% from the IT industry, 9% from pharmaceutical and health care, 7% from ed-tech, 5% from professional and commercial services, 5% from agriculture and 5% from food and beverages.
According to the Economic Survey of 2021-22, DPIIT recognised more than 61,400 startups, of which at least 14,000 were recognised during the fiscal year 2022. This contributes to a growth projection to put forward a GDP examining the performance of several sectors and suggests future movement.
On average, 555 districts of India had at least one new startup, which makes it evident that India has remarkably encouraged the startup mindset over the past six years, mainly in IT and knowledge-based sectors.
Top 4 Indian States Bagging the Funding
“Startups in India have grown remarkably over the last six years. The number of new recognised startups has increased to over 14,000 in 2021-22 from only 733 in 2016-17,” the survey claimed.
2022 has been marked as a significant year for startups, as it has witnessed the crossing of milestones of 100 Indian startups to enter the Unicorn club. Until October 2022, IT and Fintech showed the highest number of entries, whereas blockchain and consultancy showed the lowest.
Industry-Wise New Membership to Unicorn Club in 2022
A huge announcement is made by BITS Pilani, allowing students and faculty members to take time off for up to 1 year to start their ventures with a target to encourage and nurture entrepreneurship in India.
Moneycontrol had reported earlier that at least one founder of over 73 of India’s more than 100 unicorns came from one of the country’s 23 IITs. According to Tracxn Technologies data, BITS Pilani alumni have founded over 900 startups, with over 13 making it to the list of Indian unicorns, including Zeta, MPL, Swiggy, BigBasket, and Groww. Hari Menon of Big Basket, Sriharsha Majety of Swiggy, and Phanindra Sama of redBus are all alumni of BITS.
As of now, 22 startups have joined the unicorn club in 2022. Here are the top five among them:
Top Indian Unicorn Startups in 2022
The other Indian unicorn startups of 2022 are:
Fractal Analytics
LEAD School
Darwinbox
Livspace
Xpressbees
Hasura
CredAvenue
Amagi
CommerceIQ
Oxyzo
Open
PhysicsWallah
Purplle
LeadSquared
OneCard
Tata 1mg
Molbio Diagnostics
Conclusion
Over the past two years, India has witnessed the inflow of extra cash that resulted in drawing massive investment to Indian startups, including some making the IPOs launched exceedingly profitable. As growth-stage investors such as Tiger Global, Coatue, and Softbank have quit the market, startup values have fluctuated at a high speed. Several startups were valued based on price rather than vision, and now it is a challenge to contend with the harsh realities of the natural world, which values businesses based on free cash flow.
This scenario is likely to persist for the next 12–18 months until the economy begins to reset to a new normal. Meanwhile, the challenge to startup CEOs is to focus on achieving quantifiable achievements and genuine business payoffs, making the time engrossing for the Indian startup ecosystem.
FAQs
Which Indian city has the most number of startups?
Maharashtra has the highest number of startups in India.
Which Indian startups entered the unicorn club in 2022?
As of September 2022, 22 Indian startups have entered the unicorn club, including Fractal, Uniphore, LEAD, CredAvenue, Open, Amagi, Games24, DealShare, Xpressbees, and PhysicsWallah.
How many startups are started by BITS Pilani alumni?
According to Tracxn Technologies data, BITS Pilani alumni have founded over 900 startups, with over 13 making it to the list of Indian unicorns, including Zeta, MPL, Swiggy, BigBasket, and Groww.
A wise man once said – ‘Good Marketing makes the company look smart, whereas Great Marketing makes the customers feel smart’.
Yes, the customers are definitely going smarter by the day, and all of this is not just led by the technological advancements and innovations that we are seeing globally, today’s industries, entrepreneurs and marketers also play a significant hand in it.
One of the best examples is India itself, which is the next big thing in terms of startups and entrepreneurs, who are growing each day, and that too with the aim of gearing the country ahead in the global canvas.
Entrepreneurship in India today is no longer a myth. According to the Global Entrepreneurship Monitor (GEM) India Report (21-22) entrepreneurship in India has noticeably expanded in the past few years. The Total Entrepreneurial Activity rate, which is the percentage of the adults who are starting up with or running a new business has increased from 5.3% in 2020 to 14.4% in 2021.
The Growing Penetration in Tier 2 and Tier 3 Markets!
Though the Tier 1 cities of India have always been the regions to pilot for the entrepreneurs and startup founders from across the world, the entrepreneurs of India are not simply satisfied with the penetration in the first-class cities of the country. They are focusing largely on Tier 2, Tier 3 cities, and beyond.
As per the recent census, India has registered a total of 4000+ towns, and only 8 cities among them are classified as Tier 1. So, it can easily be realised that a considerable section of the Indian population resides in Tier 2, Tier 3 cities and more.
The IT industry was one of the first to realise the potential of Tier 2 and Tier 3 cities in India. This happened when they found that the Tier 1 cities have reached a saturation point. The startups of India have largely caught up with the changing trends. Besides, being geared up with the new-age Government of India schemes like Digital India, Startup India initiatives, and more, the Indian government has also joined forces with the status and entrepreneurs of today to gift India a golden future that the whole of India can enjoy!
20% of Indian startups belonged to Tier 2 and Tier 3 cities of India in 2017
Only 20% of the startups came from the tier 2 and tier 3 cities of India when reported in 2017. This was a growth from 16% of the startups of India, which came from the tier 2 and tier 3 cities of India. These numbers rapidly rose up to become 50%, as per April 2022 reports.
The penetration of the Tier 2 and Tier 3 markets today is on a rise holding the hands of the unicorn startups of India and all other budding startups and promising ideators of the country.
Research conducted in 2019 pointed out that out of over 16,000 startups registered in India then, nearly half of them have their business centres in smaller Indian cities.
Why are the Startups and Entrepreneurs choosing Tier 2 and Tier 3 Markets of India?
Numerous industries and startup founders are looking to penetrate the Tier 2 and Tier 3 markets of India because of more than one reason. Some prominent ones are:
Growing competition in the Tier 1 cities
Lack of employment in Tier 2 and Tier 3 cities
Gaining more audiences/customers in these cities
Improving the Tier 2 and Tier 3 cities
Expand their businesses
Affordability in Tier 2 and Tier 3 cities
Support of the Indian government to start up in these cities
The growth of startups and startup initiatives in these smaller towns in India are not only proving to be effective for the startup founders and entrepreneurs. The Tier 2 and Tier 3 cities are also reaping significant benefits due to the advancements taking place there.
Advantages of Tier 2 and Tier 3 Cities with Growing Startups and Entrepreneurs’ Focus on Them:
Some of the major benefits that the Tier 2 and Tier cities of India are enjoying with the improvement of industries and markets for startups and other companies in India are:
Upliftment of the standards of living in Tier 2 and Tier 3 cities
More income to the people living there
Access to quality goods and services
Improvement of facilities
A reduced movement to the Tier 1 cities
A reduced dependency on imports
It ultimately boils down to the marketers and entrepreneurs of the country, who would actually be there and advance the growth of the industries in Tier 2 and Tier 3 markets of India.
Here are some of the glimpses of some major companies that includes the Indian unicorns, who have actually proved that the Tier 2, Tier 3 and Tier 4 cities are marketable enough in these modern times:
DailyHunt
The business model of DailyHunt largely banks on the sharing of vernacular language content, a majority of which is spoken in tier 2, tier 3 cities, and beyond in India. So, though Dailyhunt is headquartered in a Tier 1 city, Bengaluru, the company focused on the other cities right from the start. Besides, its acquisition of companies like LocalPlay, a hyperlocal platform for video and news content, is also in line with its objective of boosting its hyperlocal presence in Tier 2, Tier 3 and Tier 4 geographies of India along with cementing its present position as a leading local language content discovery platform.
Moj
Owned by Mohall Tech and headquartered in Bengaluru, Moj is an Indian video-sharing social networking platform that supports 15+ languages. Much like Dailyhunt, Moj’s business model also revolved around video content sharing in vernacular languages, which itself targetted the cities beyond the Tier 1 cities of India. Furthermore, the banning of the viral Chinese video sharing platform TikTok on June 29, 2020, also played an angel’s hand is lifting the platform up to help India emerge as an Aatmanirbhar country.
Did you know the downloads of the Moj app crossed 50K in Google Play Store in just 2 days?
Paytm
The Vijay Shekhar Sharma-founded fintech company that focuses on UPI payments and other services including banking, eCommerce services and more, is not only known to the Tier 1 cities but is famous beyond them as well.
Speaking on its penetration in tier 2 and 3 cities of India, Paytm revealed that around 50% of its userbase is from the smaller cities of India – Panipat, Rohtak, Pondicherry, Surat, Ranchi and more. This remarkable feedback that Paytm has pulled up is largely attributable to its multilingual app and the growing demand for easy UPI transactions, which are conveniently done via our phones, irrespective of their types.
Flipkart
Walmart-backed Flipkart is a leading ecommerce company, which not only cares for their customers in the Tier 1 cities of India. When last reported on June 17, 2021, Flipkart revealed that over 52% of its customers come from the tier II and beyond cities. This increase in penetration in Tier II, Tier III cities, and beyond has been a combined result of the promising opportunities that these cities have and the zeal to expand the reach of the company.
Cosmetics and Beauty Products Companies like Sugar Cosmetics, Nykaa and more
Gone are the days when cosmetics and beauty products and services were restricted to the Tier 1 cities of India. Beauty regimes are now a significant part of the daily routine and vocabulary of millennial women, regardless of where they hail from. With the rapid penetration of smartphones in the smaller cities today, the women in tier 2, tier 3, tier 4 cities, and beyond are not behind even by a step from their Tier 1 counterparts.
Reports revealed that over 15% of the occasional cosmetic users who belong to the secondary and tertiary cities have tried their first face primers, foundations, BB creams, and more in the past 2-3 years. The online beauty marketplaces like Sugar Cosmetics, Nykaa, and more have a large hand in it though, who have actually made shopping for cosmetics and beauty products, availing of beauty services, and more, easier by bringing them online. The Covid-19 pandemic breakout, along with bringing the great resignation, major recessions, economic breakdowns, layoffs, and more such calamities, has also helped industries and individuals grow in many ways. One of such benevolent effects of the coronavirus pandemic is that it ushered in a new period of work from home where the countries and the working professionals living in them learned about the potential of the internet and were more close to the things happening online. An inclination to purchase cosmetic products also increased this way.
To know how businesses market to their audience in Tier 2 and Tier 3 cities, StartupTalky reached out to entrepreneurs from diverse fields. Here’s what we got to know about how they market to people in Tier 2 and Tier 3 cities:
Amit Nigam – COO & Executive Director, BANKIT
Amit Nigam – COO & Executive Director, BANKIT
BANKIT tries to reach the tier 2 and tier 3 segment of the audience through retailers who are already familiar with the customer and can reach them more effectively. This helps in overcoming the most common challenge that companies face while reaching consumers in Tier 2/3 areas: Gaining their trust.
Shalabh Upadhyay – Founder & CEO, NEWJ (New Emerging World of Journalism)
Shalabh Upadhyay – Founder & CEO, NEWJ
The future of online media will be defined by those who create content, produce stories in the language which the masses understand. And that’s what we precisely do at NEWJ. Within a short period of two years since inception, we have grown our regional network base to 12 languages (including English and Hindi). Our in-house data capabilities help us build predictive models on the content consumption patterns across social media. Our state-of-the-art tech architecture collates user consumption & computer vision data to derive insights and patterns on how a content piece will perform. This enables us to connect with and market our content effectively.
These cities are seeing increasing attention and fast infrastructural growth. You now have state-of-the-art warehouses coming up on what used to be farmland. When we create content for these audiences, we use our expertise to explain the process, i.e., what has to be done, along with why it has to be done-why keeping something chilled matters or why a bar code matters, why it’s important to be able to trace something. So you have to explain much more of the context.
Then there is language to consider that requires a constant feedback loop and intelligent design to ensure that the platform’s UI is flawless and simple without being simplistic.
Building presence in these markets requires a different approach as growth in awareness may be slow. As mentioned above we’re doing that via distribution partners which may include certain tech companies soon. CSR initiatives on behalf of certain trusted names in the logistics space have also allowed for our outreach to increase in these locations.
Sudha Anand – Founder, Swaas
Sudha Anand – Founder, Swaas
Social media like Facebook and Instagram are the best modes to reach to tier 2 & 3 customers, said Sudha Anand, Founder of Swaas.
Here are some of the points highlighted by the Founder of Teach My Lesson:
Clearly articulate the value offered in plain terms
Price solutions aptly. Price is often the proxy for quality, and solutions priced considerably lower than the benchmark are seen as not trust worthy
Leverage locally accomplished individuals to endorse the brand and build credibility. Related to this, use local micro-influencers and not mega influencers.
Make customer ratings and review visible and vocal; everyone relies on reviews
Deliver on the promise – the customer journey need an enjoyable yet straightforward. Under promising and overdelivering is better than vice versa
India is progressing, and customer expectations are high across tiers, ‘Chalta hai’ ab nahi ‘Chalta hai’
Thankfully, with the advancement of technology, Tier 2 and Tier 3 cities have proper access to the Internet today. With the campaigns that we run and the marketing we perform, it is easier to spread the word to our target audience regardless of their City-tiers.
Amit Agarwal – Founder & CEO, OckyPocky
Amit Agarwal – Founder & CEO, OckyPocky
With regards to the marketing approach in Tier 2 and Tier 3 cities, building local partnerships helps majorly to gain trust but we also focus on digital marketing and content marketing with a vernacular approach to find paying audience.
Raj N – Founder, Zaggle
Raj N – Founder, Zaggle
Brands need to innovate exclusively for rural consumers because the values and sensitivities of the rural audiences are a stark contrast to that of their urban counterparts.
Tanul Mishra – CEO, Afthonia Lab
Tanul Mishra – CEO, Afthonia Lab
The pandemic has resulted in a lot of changes on the ground. One of the most prominent of these is reverse migration and increased online buying in Tier 2 and 3 cities. On one hand, several kirana stores across cities and towns pivoted online, while on the other, many young professionals and graduates moved back to their towns driving rural consumption and demand. Established players like Flipkart and Amazon, through Samarth and Flipkart Wholesale and Prione respectively, are betting heavily on the rural entrepreneurship story.
The tier III environment is immensely different from tier I and II and therefore, communication to potential customers requires a specialized and integrated approach. Indian market is very diverse and demands regional connectivity. OTT (Over the top) players like Netflix, Amazon Prime Video, ZEE5, etc., are expected to spend Rs. 150 crore this year. We can see the push that is given by global companies towards local languages to enter the market of Bharat. Similarly, fintech industry is also expected to provide local language support and focus on user interface which is seamless and intuitive to expand its user base.
Mahadev Srivatsa – VP of Marketing & Brand Strategy, Practically
Mahadev Srivatsa – VP of Marketing & Brand Strategy, Practically
Marketing is always audience-led and the strategy has to involve a mix of the best mediums through which one can reach relevant audiences. Considering the emphasis that Indians place on education, keeping respective market nuances aside, the core TG for Practically i.e parents of kids aged 11 to 17 and the kids themselves, exhibit the same need across markets, and that is ‘a need for innovative learning’. To reach out to them, in the COVID era, the most impactful mediums of marketing have been TV and Digital. In pre covid era, BTL activations in such markets have acted as a crucial support to the main campaign. Radio & Print (regional) can also be looked at to effectively drive awareness among these audiences & build credibility. The key is to understand the touch points of your product, study customer journey and effectively strategize marketing for this segment. The correct choice of medium matters the most.
Conclusion
From leveraging locally accomplished individuals to personalizing linguistic features, entrepreneurs are leaping well above their grounds to rightly market in Tier 2 and Tier 3 cities. Hope their views gave you an insight into how to market in Tier 2 and Tier 3 cities.
FAQs
What are tier 2 and tier 3 cities in India?
The Tier 1, Tier 2, Tier 3 cities and beyond are simply the classifications of the cities of the country on the basis of development. Hence, the most developed cities in India are the Tier 1 cities, then comes the Tier 2 cities, and so on.
What are some of the business ideas in tier 2 and tier 3 cities?
The tier 2 and tier 3 cities are growing with the increased absorption of the internet and the modern initiatives and schemes by the Government of India to improve the cities beyond the first-class cities in India. Here are some of the most promising business ideas for growth in tier 2, tier 3, and more cities of India:
Financial firm
Advertising company
Beauty salon
Grocery store
Consulting company
Real estate business
Food delivery company
Farms
Nurseries
Manufacturing units
Clothes business
Consultation company
Logistics company
What are some of the Indian companies that are focusing on the Tier 2 and Tier 3 cities of India?
Most of the companies today are focusing on the Tier 2, Tier 3 cities and beyond in India. Some of the most prominent companies that are encouraging customers from Tier 2 and tier 3 cities are Paytm, Moj, Flipkart, Dailyhunt, Nykaa, Sugar Cosmetics, and more.
Which industries are foraying into tier 2 and tier 3 cities in India?
There has been an increasing foray into the tier 2 and tier cities in India in the past few years. Some of the major industries that have already entered the tier 2, tier 3, and tier 4 markets in India are:
Gaming
Fintech
Real estate
UPI
Edtech
Entertainment
News
Fashion
Food delivery
Logistics
Crypto
How many startups have their reach to the cities beyond the tier 1 cities of India?
As per the recent survey results, out of all the startups thriving in the country at present, around 50% of them have their reach, their business centres, in the tier 2 cities and beyond in India.
The article is contributed by Gauri Bhatia – Founder and Director, The Unveiled Sagas.
Everyone dreams of igniting inspiration through their career trajectory. I too, for that matter often boasted about having only ‘twenty-five rupees in my pocket’ when I started The Unveiled Sagas. My business partner was in a financial fix, and I being the (kind-of) only child in my family had lied to my parents to start my own business. Somewhere along the line, I feel we added all this masala to make our life seem only a little bit more dramatic.
Eight years since, the dawning realization that life didn’t have to be that difficult has pushed me to take the simple(st) path, and I am here to tell you that no, the entrepreneurial journey is not filled with toil and heartbreak. It is simply a profession, just as easy as you make it.
First and foremost – don’t do it because you hate working for someone else.
Contrary to popular belief, you are not ‘boss-less’ or working on your own terms. You don’t make the rules, and you don’t have a ready team ready to drop everything for you. From working for one manager or one corporate, I have diversified my attention to working to meet my company’s revenue requirements, 110 clients’ needs, moral and political preferences, my team’s obdurate party needs and my friends’ social obligations. Not to mention, working for a start-up means that my parents can get me to run errands more often.
Despite all of this, I cannot deny the eager anticipation that overflows when we close a big client, or when the client closes a big client because of our efforts.
How do you optimize your journey then to ensure as smooth a ride as possible.
Don’t be afraid to hire- or to build an office
Optimizing cost convinced us to save on seats, and on people. For the first three years, we operated on on-call employees and garage-offices to ensure that in the time of adversity (case and point, the pandemic), our company should have clear and free-flow liquid funds.
This was one of the worst decisions we’d ever made.
I have nothing against freelancers and smaller offices, but operating with a team that barely saw your face deliberately questioned the strength of our company. There was a huge, visible difference between the first ‘manager material’ freelancer we hired, and the first ‘manager’ manager we brought on board. The first, was apprehensive about the opportunity- the second, aggressive and passionate about leading our team of barely three.
Similarly, working from the garage or the extra room at home lead to an extinguished productivity, and burnouts that frequented us more often. Rather, purchasing even a flexi-seating arrangement at a co-working space boosted inter-employee morale and trust to a level that was immovable.
Hire Young Blood
An adamant advocate of freshers, I myself was an aggressive intern when I was in college, delving into 3 jobs besides my inter-college sports and academic career.
Apart from that, a fresher is often moldable and flexible to learn. Experienced professionals often have a set mindset that launches them into a certain systemized career trajectory that can be inflexible. Ask a 20-year-old writer, however, to build a website and the only answer you’ll get is “I don’t know how to do it yet, but give me an hour and a Youtube connection”.
Also, they love power, money, and authority. Their priorities are set right, and if not them, there is no hope to set the world right.
Diversify your corporate portfolio- and don’t be afraid of seeking ‘cool’
Not only through your start-up and its internal clientele, but also through external portfolios. My business partner and I have had successful (and many failed) start-ups in travel, blockchain, manufacturing, skincare, marketing and AI.
We’re blessed to have a diversified clientele that keeps us on our toes, enabling us to seek whatever seems ‘cool’- real-life experience begins where research ends, and there’s a different kind of flair in challenging your knowledge.
Sampling through the clientele
Our first ‘other’ start-up was through a client who wanted to diversify into manufacturing. We’d written a plethora of books and articles on the topic, but to live It first-hand was a different ballgame altogether. Convincing the client of our genius didn’t take much time- in a couple of months, we had attained a fund for marketing and hiring, and used our weekends to set up his factory and his ecommerce infrastructure.
More often than not, founders love to stay within their comfort zones because of their mental block- “I can’t go international because I don’t have the funds”, “I cant expand my verticals because I don’t have the manpower”, or even “I cant get into manufacturing because I’m into marketing” (okay, the last one is me). Inhibiting experiences because of these small, mortal limitations is anticlimactic considering the profession that you’ve chosen. Entrepreneurs do what they want to, and then find a way to enable the journey.
Although I advocate the hustle culture, I firmly believe that incessantly torturing yourself is not the way to attain financial stability.
Constructive criticism and hard to please clients often believe in your potential, and make you push yourself until you give them what they want. Compare them to people who suddenly turn into bad payers and over-critiquing audience as soon as the invoice hits their inbox, and you have a recipe for a migraine on your hands.
I don’t often mind bargains, but after ten years in the industry and an optimized rate that I consider cheap, if I find someone who tries to cut corners, I prefer to drop them. Look for people who seek results, and not a deal, even if you are in an industry that essentially functions on discounts and quantity.
Conclusion
To end my argument, never forget that a start-up is the gateway to the limits of human potential, and containing childish whims like travelling the world, becoming a billionaire or even enabling world peace and hunger is nowhere near impossible. Be kind, seek innovation and test your limits.
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.
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.
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.
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.
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.
Harshit Verma
