Over the past two decades, India has seen the mushrooming of many innovative startups which began their journey with big dreams. And quite a number of them have graced the Delhi NCR belt, as it is a fast developing region. But not all made it to the pinnacle of success. Not all are thriving well or making their presence felt in a competitive market. Why so? Because most startups often lack a proper strategy when it comes to managing their funds and resources, or they fall short on effective marketing. There are some other things to keep in mind too if you wish to succeed as a startup in Delhi NCR. Here is a close look:
Always keep the profit in mind or focus on ROI when you are investing in a startup. Note that it can take as long as 3 to 5 years to even break even. Maintain a contingency cash cushion to deal with emergencies and keep your monthly and personal expenses in mind. Diversify your investment, and make sure you don’t put all your savings into the venture. Otherwise, you might be left high and dry if the startup fails. Save money wherever possible while running daily operations. For instance, you can switch off ACs and lights when they are not in use.
Never ignore insurance and human capital
Insurance covers can get you out of many sticky situations, and should definitely be availed in Delhi NCR. These can help in emergency situations and keep your losses to the minimum. Focus on the well-being of your employees too, as they are sharing the risk of your startup venture. You can start small SIPs for them so that they are cushioned to some extent if you face failure.
Make the most of social media marketing
These days, only having a website to attract potential customers is not sensible. You should market your products, brand, and ideas on social media platforms like Facebook, Twitter, and Instagram to connect with customers at a deeper level and answer their queries and incorporate feedback. You can use analytics to assess their behavior as well, and then lead them to your website with engaging and informational posts. Smart tools are available too to help you measure your brand’s performance and to keep an eye on conversions. Use smart templates for email marketing.
Employ viral marketing
Try out paid campaigns on social media sites to reach out to more audience in Delhi NCR and make a bigger impact than simply using posts or tweets. Effective tools are also available these days to reach relevant influencers who can promote your products and services in their circles.
Embrace co-working space
Traditional work-spaces are often cramped, lack modern amenities and don’t allow easy interaction, or don’t offer room for high productivity or creativity. Hence, switching to a futuristic office space
that has an aesthetic plan, is well-lit, and features ergonomic furniture, is a wise move. Eccosphere offers such modern co-working spaces in the Delhi NCR
region, whether you want a private office, a meeting room
, a virtual office
, or an independent desk in a common area. The office spaces enjoy facilities like fast internet, technical support, parking, refreshments, phone booths and showers as well. These can aid corporate enterprises, consultants and freelancers to achieve their maximum potential in a safe and Zen environment.
Finally, make sure you have an efficient payment gateway in place and a proactive customer service team. Being a startup has its challenges but an ounce of caution can take you to the top.