A NEW APPROACH TO INDIAN START-UPS.

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Submitted: August 17, 2018

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Submitted: August 17, 2018

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 “95% of Indian Start-ups fail because of lack of Innovation and other criteria.”

 “80% of initially successful start-ups in India fail within 5 years and close.”

“70 per cent of the economists and investors believe that talent acquisition is one of the biggest challenges faced by Indian start-ups, and limited availability of necessary skills impedes growth.”

INTRODUCTION: Many start a lean start-up just for the sake of becoming an entrepreneur. The interested candidates must know and learn that start-ups are not just to make some goods, sell and make money, or even serve customers. The objective of a start-up is to have a character out of the right thing. Start-ups exist to learn how to build a sustainable business. This happens only in right place.

Among many, we will study hereunder 3 influences.

In Lean start-up ecology, what does it mean to be in business and can it be applicable in Pharmaceutical and life-science segment?

Primarily, it means LSU (Lean start-up) is a validated learning and makes efficiency by minimizing wasted resources. Hence, the need for venture capital is unnecessary in the beginning.

Secondly, an LSU is an entrepreneur’s dream with an innovation that can make a positive difference in the market.

Thus thirdly to achieve this, it goes through experimenting on hypothesis and has an incessant bio-glow environment with values and changing tactical mission. It also means disrupting an existing and stagnated business system.

Fourthly and financially, as start-up grows the lean process is a win-win for start-up founders and VCs alike because it reduces investment risk and burns rates while shortening the path to results.

Fifthly, It is the restructuring a progression to bring a big idea to market.

Finally, for this topic, LSU is inviting customers to involve in the process of lean, mean and messy business ideas with a lean-production system. A lean start-up is a contrarian approach to having the experience of building big companies that have great technology, but no customers.

A start-up reminds me of analogy with the great Roman Empire. Roman’s training and building of dexterity were comprised of 5 vital components.  1. Robustness.2. Speed.  3. Accuracy.  4. Anticipatory escape from opponent’s strike. 5. Endurance. 6. Winning and always changing tactics and strategies.

Every roman soldier was to go through this ordeal.  Win or lose the battle, die or survive in battle but yet the soldier was privileged to be a battle-hardened warrior. What matters was, whether he participated and fought to his best.

The war-hardened soldier was to get wised-up with a careful, calculated and cautious approach, so does a lean start-up.

In fact, lean start-ups enable to bring from prototypes to agile ones to market faster than ever to stay alive in more than 360 degrees rotatory angle.

The lean start-up also means bootstrapping. Bootstrap means building a character from the ground up and within. A personification of a small number of hard-working creative people and is the character of an entrepreneur behind it.

If I were in the shoes of an LSU owner, I have to develop a narrative that differentiates my lean start-up from others, which can sparks conversation and questions like:

Did I come up with a good business idea when troubled consumers are looking a much needed-product?

Does start-up support from a certain cause to main cause?

I do not know whether mentioning these questions may inspire other entrepreneurs around me or not, but I can certainly find some initiatives from informal communication occurs through the grapevine. For a beginning, it will be great.

PLACE, PEOPLE AND EDUCATION:

Many entrepreneurs think of an LSU from hometowns. But there are some scarce factors to consider if they want the right environment for business to prosper. Start-ups have the best chances of survival in cities that have good funding, growing infrastructure, a flourishing domestic market and a pool of promising talent. Even with all these advantages, three out of every four development projects in India fail.

But I differ in this aspect.

Now my other question is, should a start-up be started and look for skilled people, or with the right talent, they can start at any location to save time?

Employees devoid of empathetic philosophy towards lean start-ups are not part of the ecosystem until they become a built-in force to propel the growth. And such people as employees can ditch a start-up anytime.  Human nature is as such. People as employees leave companies, but people never leave people. The departed employees may join with other people in other company to work along. They all are brethren again through forgiveness. But the deserted company suffers a lot and can be stagnated for long.  

My other question is why do people leave companies?

The logic behind employee departure is lack of solving people’s issues. This predominantly happens, when start-up entrepreneurs as leaders fail to deal with people’s issues positively. The success of start-up always depends on the leadership of the start-up?

In lean start-ups, the most common component is “changing ladder shifts at bottom level or at high-end” due to unforeseen changes in and around. So, an efficient and effective leadership can handle this sort of situations.

When a start-up plans to select and open-up in a location, it must have sufficient data to draw pro rata skilled workforce and customer pool mostly from the local. The skilled job seekers don’t want to move from metro homes or hometowns.

When the environment around is like this, mere ecosystem does not help, a good gardener is needed to nurture the nature of business from abstraction to final ideation.

In fact, success requires a solid base of talent, so, it also further means to have the high-quality senior leadership to train followers and young leaders. The leadership should have the ability to entice skilled workers as it scales-up.

MY ANSWER:

That is why; a Lean start-up should start from the most educated city with the highest people’s literacy ratio and with a good number of educational institutions. Augmented educational achievement is closely tied to good and healthy habits, higher activity rates, inclination for early professional sense and accomplishment. These factors contribute to creating an overall lean start-up ambience for actual churn up.

And the paybacks don’t stop at one’s personal health; educational achievement also benefits the entrepreneur community. Civic engagement typically increases with education and studies have shown that crime rates decline as educational achievement goes up. So a nice place is placed with peace of mind.

How do we calculate and rate educational attainment data in a city or town?

I have gathered huge data by applying the simple methodology of contrast between Actual Educational Achievement versus Possible Educational Achievement in the city. The criteria are:

•Overall education ratio in the city:______

•Adult Population With:_________%

•Teenagers population with:_________%

•Males:_______%

•Females:_______%

•Bachelor's Degree:________%

•Master's or Professional Degree:________%

•Doctorate Degree:________%

•Employed population:  ______%

•Retired Population:__________%

It is always necessary to conduct the first product market experiment while maintaining a positive user experience. Amid educated population, what is good and positive, is better and frank feedback on hypothesis-based experimentation, iterative product releases and customer feedback over a big plan up-front with lots of intuitions around with conventional wisdom. The feedback and suggestions on prototyping are the main pillars for experimenting and pivoting.

For starters, where a company chooses to locate will largely determine who applies for its open jobs. In practice, most job candidates will be found in the company’s own backyard.

And the experimenting didn’t end there. Once, the product is complete, but how are they going to sell it to the rural and urban market?

Naturally, the most educated city can be well connected through a typical transportation system to all provisionally and nationally important places.

Talent in today’s tech-driven market is the most important advantage for the most companies. Start-up entrepreneurs will have a much easier time filling open roles if they’re willing to work.

Amid this academic and educated milieu, what interests of every entrepreneur are to try a new hypothesis after one is rejected. So, an entrepreneur can hop on to the next best.

The area is to learn as much as conceivable from many failures and hasten the entire process, to achieve a more successful outcome. In nutshell, the lean start-up must have a strong grounding in experimentation and iteration

MY MAIN INTEREST: 

I am interested in Pharmaceutical and life-science industry. If LSU's show the right path for some businesses, then is this LSU methodology really useful for life-science start-ups?

In the pharmaceutical industry, it is not possible to come up with a Minimum viable product as Drug regulatory authorities cannot approve them before MVPs can be clinically evaluated on trails and market on the human-safety basis.

But I think, there are certain areas in life-sciences like Molecular biology and Biomedical engineering, wherein the specialized or qualified personnel can collaborate with Medical professionals to invent spinal implantations , neurological stimulators, advanced brain chip implantations for epilepsy, simplified special post-surgical dressings, Pain alleviate nociceptor blockade chips for terminally ill patients, sound and sensory-based digital vision for blind people, Nanobots, and 3D diagnostic Holograms etc.

The above-cited technologies are biomedical innovations, do not require vast clinical trials expect safety concerns of lethal manifestations in patients.

Secondly, they are to provide amenability and palliative care to severe or terminally ill patients, not for commercial use.

Thirdly, if they are federally funded innovations with private tech giants, the envisaged services can be affordable to middle and poor patients.

Fourthly, by using Lean principles, healthcare and life-science entrepreneurs can quickly define clinical utility before spending millions of rupees and can save time.

Fifthly, early intellectual property rights can be ensured without any competition.

There are no barriers in LSU culture; it can largely be applicable to many fields in all walks of life. I, personally, believe in the framework of ideas and preconceptions.  Apparently, the preconceptions develop certain habits of minds. We, as human beings, express through the structure of language, forms of theories, beliefs, values and systems. The LSU is first to form, then disrupted and teach as they emerge and evolve into mature ones. This inculcation forms an innovative culture, to pave a future path.

For any business, the bottom of the pyramid is to do business with new innovation or newness that can add value to the existing one. It is always impossible to understand what works and what does not, without experimentation and pivoting. So, I personally believe that every qualified or eligible entrepreneur and established companies can spread out and encourage SLUs as their auxiliaries.

 

 


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