Most Frequently Asked Questions About Startups

Startups are not meant for everybody. They are adventurous ventures with high risks and steep learning curves. Startups can’t afford to hire people who are looking to have a traditional career because working in startups transcends the ideas of hefty salaries and offices bonuses.

Therefore a lot of doubt and second guessing is linked with starting one’s own company.
We have compiled a list of the most common questions raised with regards to the startup culture in the Indian Economy

1. Is it worth the risk to leave a high paying MNC to start your own company?

While it is ultimately your decision, many prominent CEOs of startups around the world left high paying jobs to become their rivals.
Radhika Aggarwal worked in Goldman Sachs and Nordstrom before moving to India to help co-found ShopClues.
Sachin and Binny Bansal worked at Amazon before quitting their jobs to start Flipkart in 2007

Snapdeal co-founders Rohit Bansal and Kunal Bahl worked in MNCs before deciding to enter the e-commerce industry.

2. How do startups actually work?

It starts from refining one’s product or idea by assessing the gaps in the supply and demand of a product in the marketplace. Then one needs to get venture capitalists interested in the product/idea to get the funding and finally to launch the product/idea in the market. Then required marketing and advertising to be done for the product/idea to reach the target audience. Right now a lot of angel investors and venture capitalists are looking for fresh and innovative ideas in which to invest.

Also read: Learn How To Set Up a Startup With (Almost) No Money

3. Are co working spaces helpful?

In the initial stages when resources are low, co working spaces offer a lot of benefits from affordable costs, market visibility and office space. 91Springboard, Coworkzone, Unispace Business Centre in Hyderabad and the Telangana IT government’s initiative T-Hub are examples.

4. How to approach startup accelerators and incubators in India?

The approach will depend on the product and the type of accelerator or incubator to which you are applying. While some startups don’t entertain products at the ideation stage, some accelerators provide help from the early stages.

Read more: 10 Incredibly Free Tools To Launch and Build Your StartUp

5. How to promote the startup after its initial launch?

Social Media provides the best base to promote any startup product or service. But promoting the product on the right platforms is essential for overall growth of the company. Portals such as Reddit, StartupList, NextBigWhat and Startup Stories are great sources for the initial push.