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Tips For Creative Entrepreneurs

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There are numerous avenues to explore for a creative entrepreneur who is passionate about setting up a business. Entrepreneurs are extremely enthusiastic and passionate about everything in which they believe. It is their dedication toward the action which leads to their success in business.  

However, creativity is such a thing that every business demands. Being creative in your business not only differentiates you from others but also gives you an edge over competitor.

Here are few interesting tips for creative entrepreneurs!  

Hire people smarter than you

If your business is in its initial stages, you need to be very careful with the people you are going to hire. You need to find people who can make an immense contribution to the business. You can also look for people who know things that you don’t. This way they can come up with ideas and solutions that can make your work easier.

Work smart, not hard

As an entrepreneur, you must be doing everything on your own. It’s good to be ambitious, but it is wise to know your limits. To be successful, you don’t need to make yourself miserable. You need to recognize the difference between working hard and smartly. A harder worker on the other hand puts long hours every day, probably doing the same thing again and again. While hard work requires you to pursue your goals under all circumstances, smart work saves a lot of your time. However, effort is important but where to make an effort makes all the difference.

Know your numbers

The financials, analytics and business intelligence need to be known properly in order to make informed decisions and work effectively. From the cost of manufacturing to the cost of running a business, all the calculations needs to be done correctly. This will help you keep a track of all the records and expenses involved in the business. So, know your numbers.

Focus on one thing at a time

Your time is valuable.  However, do not jump from one task to another without proper focus. This could lead to ending of tasks abruptly. So, it is better to concentrate on one task until you complete it and then move ahead to another one. This way you do not lose focus. What you can do is, pen down the list of things that are to be done and schedule them. Follow the to do list and be smart enough to prioritize things.

At the end of the day, if you face failure then accept it. Basically, if you’re on the right path, failure is just another step along the way, as long as you don’t let it stop you. However, setting up a business with the right amount of dedication can take you to another level of achievement.

So, have you ever had a brilliant business idea? If yes, then get inspired, write it down, work on it,

 

Entrepreneur Stories

Inside T-Hub: India’s Launchpad for Innovation and Entrepreneurship

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Aerial view of T Hub Hyderabad

Imagine a building that’s not just a structure but a buzzing ecosystem. A space where startups, corporations, universities, and investors come together to create the future. This isn’t science fiction; it’s T-Hub, India’s largest innovation hub, and it’s rewriting the rules of entrepreneurship.

T-Hub isn’t just about workspaces. It’s a launchpad for ambitious dreams. They’ve empowered over 2,000 startups, turning ideas into thriving businesses. Think funding woes? T-Hub’s got your back, connecting entrepreneurs with angel investors and government grants. Need a mentor to guide you through the rough patches? T-Hub boasts a network of 2,000 mentors ready to share their wisdom.

T-Hub’s vision extends beyond startups. Here’s a glimpse into what makes T-Hub special:

  • From Seed to Scale: Whether you’re a budding entrepreneur with a bright idea or a scaling startup ready to take on the world, T-Hub has programs to support you. From the “seed-accelerator stage” Lab32 program to the “early-stage technology startups” RubriX program, T-Hub provides the tools and guidance needed to thrive.
  • Corporate Muscle: Innovation isn’t just for startups. T-Hub bridges the gap between startups and established corporations like Facebook, Uber, and Boeing. This collaboration allows startups to tap into corporate expertise and resources, while corporations benefit from the agility and fresh perspectives that startups bring.
  • Funding Powerhouse: T-Hub is more than just an idea incubator; it is also a reality maker. Through initiatives like T-Angel and the Digital India Scaleup Program, T-Hub connects startups with high-net-worth individuals, angel investors, and government funding sources.
  • Global Ambitions: Thinking Beyond Borders? T-Hub has you covered. With partnerships across the globe, from the UK government to La Trobe University, T-Hub helps Indian startups access international markets and provides foreign startups with a foothold in India.

And it doesn’t stop there. T-Hub 2.0, their new colossal campus, is a testament to their ambition. This behemoth is not just the world’s largest technology incubator; it’s a microcosm of innovation itself. Universities find a home here, churning out future tech leaders. Foreign partnerships open doors to international markets for Indian startups. It’s a melting pot of ideas, cultures, and expertise, all focused on creating a brighter tomorrow.

T-Hub’s story is far from over. They’re aiming to empower a staggering 20,000 startups in the next five years. With their focus on internationalization and capacity building, they’re poised to become a global hub for innovation. So, if you’re an entrepreneur with a dream, T-Hub might just be the launchpad that takes you to the stars.

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5 Successful Indian Startups Founded By Women

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The workplace has undergone massive changes in the last century.  At the turn of the Industrial Revolution, any workplace was dominated by men while the women were delegated to run the homes.  However, with the advent of the internet and new and exciting technologies, workplaces have undergone a tectonic shift.  Women are no longer comfortable staying at home and are instead opting to lead teams and organisations.  As every year passes, we get closer to true gender equality, women have proven time and again that they are equally capable to get the job done if not better in some instances.  Names like Wolfe Herd (Bumble founder,) Kylie Jenner     (Kylie Cosmetics founder,)  Masaba Gupta (Masaba clothing label founder) are just some of the names who are known for leading world famous brands with their unique style of leadership. 

As the world celebrates International Women’s Day, we bring to you five women founders who run world famous and successful startups.

1) Upasana Taku-MobiKwik

If you are an Indian and are used to doing online shopping, more often than not at the time of payment, you would be directed to a payment gateway.  One of these gateways would normally be MobiKwik.  The startup is a well known name in the digital payments and digital wallet space.  MobiKwik was founded by Upasana Taku in 2009, who prior to founding MobiKwik used to work with PayPal.  Today Upasana Taku is also in charge of bank partnerships, business operations, and talent acquisition at MobiKwik.

2) Richa Kar-Zivame

An enthusiastic MBA student, Richa Kar, developed an online lingerie shopping platform in the year 2011.  Currently, Zivame is India’s leading online lingerie store with a valuation of more than $ 100 million.  The brilliant idea for her own lingerie business came to light when Richa tracked Victoria’s Secret’s sales, who was one of her clients when she was working at SAP.  She observed the lingerie sales figures reached peaks overseas but, Indian women were not provided with the similar innerwear.  While Richa was studying the Indian lingerie market, she realized the social embarrassment in India surrounding lingerie shopping.  Today Richa Kar could be credited with destigmatising the uneasiness surrounding lingerie shopping in India.

3) Falguna Nayar-Nykaa

After a long stint as an investment banker, Falguni Nayar founded Nykaa.com in the year 2013. An online one stop shop for beauty products from Indian and international brands, Nykaa changed the world of online shopping.  Who would have ever thought buying makeup online would be so easy? Falguni Nayar proved many critics wrong and created a brand new place for people who love experimenting with styles, designs and colors.

ALSO READ: Zivame: Founding Story

4) Sabina Chopra-Yatra.com

Yatra.com is a popular Indian website for making flight and hotel bookings.  Sabina Chopra was instrumental in identifying the potential for travel commerce in India and people moving towards cheaper or easier travel.  By the time, people started looking to make bookings, Sabina made sure Yatra.com was already in place.  Sabina was the former Head of India Operations of eBookers, which is also an online travel company based in Europe.  Along with this, she was also working with Japan Airlines which further adds to her experience in the travel industry.

5) Rashmi Sinha-SlideShare

SlideShare allows people to upload and access their presentations online.  While this feature is presently available everywhere, SlideShare was one of the first players in making this happen.  Rashmi Sinha was one of the founders of the presentation sharing platform SlideShare.  The company became so successful that in 2012, LinkedIn acquired the company for an amount of $100 million.

Let us know in the comments if you know any other wonderful women who have become leaders of their right or have started up and are doing extraordinary things.  We at Startup Stories wish a wonderful Women’s Day to all the women in the world who are changemakers.

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Why Are Ads On Digital Media Failing To Reach The Right Audience?

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If you are a regular user of social media platforms and also a fan of consuming content on the digital medium, then there is a very high likelihood that you have seen ads on pages you are reading or watching something.  There would be times when you have been targeted by an ad which feels like it was wrongly targeted at you.  Imagine if you are a vegetarian by choice and while browsing online, if you are targeted by a food delivery app which shows ads about chicken dishes.  The ad would only serve to spoil the mood of the online user instead of serving its actual purpose which is to push the user to buy a chicken dish.

These wrongly targeted ads might be the side effects of performance marketing or a weak brand marketing.  Performance marketing means advertising programs where advertisers pay only when a specific action occurs. These actions can include a generated lead, a sale, a click, and more.  Inshort, performance marketing is used to create highly targeted ads for a very specific target audience at a low cost.  Performance marketing usually means high volume for a very specific cost.  

Brand marketers on the other hand believe in narrowly defining target audiences but end up spending a lot of money on ad placements.  Gautam Mehra, CEO, Dentsu Programmatic India & CDO, Dentsu International Asia Pacific said, “You’ve defined a persona, you know the emotions you want to elicit, but then you buy a YouTube masthead and CricInfo sponsorships because IPL is up.  If brand advertisers look at audience-based buys more deeply than just placements, you will see more relevant ads (sic.)”  

ALSO READ: How Digital Marketing Is Impacted Due To The COVID-19 Pandemic

Performance marketing is more of a sales function rather than a marketing function and is about meeting the cost of acquisition.  This is a reason why budgets are usually high for performance marketing.  Mehra goes on to add, “the fact is that an engineer can out-beat FMCGs on performance marketing.  Advertisers who have cracked this are spending 10x and are on an ‘always on’ mode (unlike time-bound brand campaigns.)”

There is always the case of supply and demand, with the supply usually exceeding the demand on digital platforms.  Ultimately, it boils down to the choice between no ad versus low relevance ad and it is quite easy to guess that having a low relevance ad is better.  

Arvind R. P., Director – Marketing and Communications at McDonald’s India (West and South,) said “McDonalds’ for instance, has seen its share of spends on digital grow from 20% levels a couple of years back to over 40% at present.  Outcomes of this journey have been encouraging, proven by our media-mix-modelling and other key metrics.  We have seen best results from an optimal mix of Television plus digital (sic.)”  Moreover, Arvind also believes performance marketing only approach could turn out to be more suited to short term, versus a more consistent full funnel effort.  The latter ensures adequate emphasis on building consideration, as well as growing transactions.  Arvind feels digital is a complex medium which needs investment in the right talent who could use the right tools.  Brands which underestimate the need for the investment are often disappointed from the return on investment from the digital medium.

With the constantly changing consumer dynamics marketers are now shifting to unscripted marketing which frankly needs more insights into the consumer mindset.  The lack of marketers to do the proper research is why digital medium is plagued with irrelevant ads.

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