The Growth Profile Of A Startup: Some Key Elements

​​​​​​​The evolution of a startup into a fully-evolved business establishment requires many more things than great ideas, says Rajesh Nair

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- Rajesh Nair

This is truly the age of startup entrepreneurship! In Kerala, the culture of starting businesses young, looking for interesting products and services, and also daring to embark on that journey is avant-garde. But it takes far more than great ideas and innovative business models to build an institution of repute. Popular research reminds that companies are ‘not entering their teens anymore!’ They run into closure in the first 12 years. Another finding is that barely a few survive the first five years. That is disturbing. While institutions like Kerala Startup Mission and KSIDC do excellent work to support the youngsters there are a few noticeable changes one has to take into account.

IDEATION TO EXECUTION

Idea is always the seed of a venture and one cannot under appreciate its value and necessity. But ‘execution’ is the part we often tend to ignore. No idea is complete without the ability to execute it. If the founder of a company cannot get into the details of a ‘dirty, muddy, roll-up sleeves’ plan, he has to hire talents. It is time startups understand that the ability to execute is what makes the difference.