The Indian market is doing well, with start-ups booming and prospering at an unfathomable rate. This has caused large corporations to ponder what the secret to their smooth success is. Unicorns have been in the spotlight for quite some time, but they’re the kind of overnight sensations that have everyone’s eyeballs rolling!
S.Tartup has emerged as an industry dominator, creating niches in almost everything from fintech to e-commerce. These newbies not only have a positive mindset, but they have a growth mindset built into their DNA. Market giants want to emulate the culture of these New Age trendsetters and newsmakers.
Changemakers are risk takers and daring dreamers! One such bold step has made Licious, an online meat delivery platform, one of the fastest growing companies in India. Customer focus and strategy drive are key reasons for its phenomenal success. Their key strategy was to satisfy a hungry market for quality meat.Today their brand boasts excellent customer service and an easy-to-use interface.
Licious was well aware of the ethos of its customer base, offering a wide range of meats, poultry, seafood and, more importantly, meat that had undergone rigorous and multiple quality checks. , was to diversify the business. What started in Delhi and her NCR has today spread across vast swathes of India. Setting some iron on fire was a game changer. In short, diversification in terms of services and products can work wonders for businesses that are skyrocketing in record time!
1 mg India’s first online pharmacy is another prime example of increasing customer satisfaction. In a market with few trusted online pharmacy brands, 1 mg entered a well-served sector with limited success. and pharmaceuticals. Caring about customer satisfaction is why startups are always bullish in the market!
Most of the time, startup success stories are associated with having strong VCs, but conversely, people who are driven to make a difference, people who can think things through rather than just being a cog in a cog. Having a strong team made up of A box is something that really helps you scale your company.
One such talk was scheduled by Unacademy. Five years after launching the online education platform, it has already become a sensation. They joined the online learning platform bandwagon at a time when this mode of learning was largely unpopular, but they nevertheless made a name for themselves as the number 1 education portal in India. Their strategy was clear. The goal was to provide affordable, quality education for all.
Today, the platform offers nearly 1000 courses and a customer base of 1 million. Startups like Unacademy can reap the benefits of taking calculated risks, drawing out detailed blueprints for hiring, continually updating courses, and staying relevant in changing times. Unacademy is very selective about the teams they hire and having a solid team is almost half the battle won. With vision and passion aligned with the company’s mission Our team can help you navigate any business to reach the pinnacle of success.
What all successful startups have in common is the motivation and passion of their founders. Their progressive thinking, insight into core issues, and ability to assess system weaknesses and shortcomings are outstanding. Their unique business model and urge to make changes for the betterment of fraternity by offering different but viable solutions and ideas is what established businesses need to focus on. Successful startups bring freshness to the table. The unique proposition and its products cater to a specific niche market rather than the mass market.
The lifespan of any technology is about three to five years, so companies must keep up with changing trends to meet market needs.
Paytm, a mobile payment platform, took seven years to reach its $1 billion valuation compared to the MPL (Mobile Premier League), which rose to the same level in a fraction of the time. So what helped such companies rise to the top with breakneck speed?
It is the innovations and innovators in these companies who have a creative spirit. Innovation must be embraced as an ingrained part of the corporate culture in order to stay ahead of the competition and outperform the market. Innovators have many light-hearted moments to bring about radical change in the system.
These right-brainers are wired to think differently and seek out solutions to any obstacle. Every stumbling block is an opportunity to create something viable. It’s like a skill and insight that is honed over time. Not only do they play with ideas,
Large companies that want to blitz the market and become reigning tycoons must embrace uncertainty, ambiguity, and challenges, especially when fine-tuning strategies and plans aimed at better growth. Being snug in the cocoon only reduces your chances of being noticed. Nasscom predicts that India will have 100 new unicorn companies by 2025. If startups start to rise at this pace, the big players will gradually disappear and the market might look different!
By Vikas Chada.
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