Since the Corona Virus hit the world in December 2019, a lot has changed. Business came to a halt around the world as countries took severe steps to contain the pandemic, causing financial agen- cies to reduce growth estimates for the global economy, including India
All start-ups have faced obstacles as a result of glitches in the sup- ply chain network. The start-up ecosystem, on the other hand, has been working hard to adapt as quickly as possible to the current circumstances, focusing on the need to innovate and diversify their business tactics and operations.
The start-up ecosystem in India has emerged as a significant force in recent years, owing largely to the efforts of stakeholders and government policies to encourage the establishment of start-ups. Investments in start-ups have risen considerably from $550 million in 2010 to $14.5 billion in 2019.
We created this journal with the goal of educating start-ups on the various fundraising alternatives open to them, thereby assisting them in dealing with the pandemic.
A more in-depth periodical, startupedia, fundraising volume II, will be released shortly! Keep an eye out!

We hope you find this journal helpful in developing new business strategies in a comprehensive manner. We’d also appreciate hear- ing from you at info@shuruup.com.

STARTUP LIFECYCLE

1: Notion

The notion phase of any startup is when the con- cept of the startup is created, where the core idea of the startup is decided. During this phase, the underlying idea of the upcoming startup is decid- ed by you and your team, as well as the question “what purpose are we serving?” is answered.
The notion phase leads to the formulation step, where how you are going to implement the idea is achieved. The topic determines how the notion will be carried forward and revolves around the question “How will you achieve this”.

2: Formulation

In the formulation stage the zero or core model of the startup is created. It consists of model that is designed in such a way that it consists of minimum, yet enough features to satisfy early investors, on the basis of feasibility of the idea.
It need not be a detailed model of the startup, but is a rough model, which states what start-up does and how to functions.
The model is also known as the MVP (minimum viable product).

3: Funding

Once the model is created, it is pitched in front of the investors for funding. For the purpose of selection of startup from the investor point of view, they require clarity on business model you provide, for which the study your MVP is done. They look for the 4Ps of marketing: Product, Price, Promotion and Place.
These are the 4 basic questions asked by them: What is the core product provided by the startup?

Is the structure of price feasible and viable with respect to the market?

Is the market size appropriate and is the marketing feasible?

What are the platforms where the startup provides their services or product?
To persuade investors to invest in your idea, you must first decide on the core sellable components of your product or services.

4: Verification

The verification is an essential phase before launching your product in the market. Here, your team, along with the investors checks for possible reasons why your product might fail in the market. To be on a safer side, it is advised to have an external team along with your core team to find limitations and possible changes in the business and revenue model and final product.During verification, a beta launch of the product is done

5: Beta launch

Beta launch of the product is like having a test drive of your model in the market.
It provides the final chance to make amendments in your final product.
Beta launch is generally done for services which are provided online.
This is the stage which gives way to the stepping stone of creating your brand.

6: Final product launch

The particular final product is offered to the market at this point.
Aggressive marketing strategies should be used since it is critical to reach the largest potential market in order to achieve the best potential growth rate.

7: Traction

Startups should start grabbing market share outside of their test zone at this point, which will help them bring more revenue.
It should be designed in such a way that existing consumers stick with your product, while new customers can sample your product instead of the competitors and feel comfortable switching to your product.

8: Maturity

This is the phase where your startup life has reached a saturation point, i.e. your idea is now known in the market, there are enough competitors and you don’t have the upper hand of uniqueness.
This is where you provide services to your existing customers and have improvements in your products, enough to keep them intact with your brand. This point onwards, the competition will rise for which countermeasures must be taken in order to retain your existing customer base.
This is where you think about the future of your company, which is no longer a startup.
As an entrepreneur you have some options:
  • To work on the existing product
  • To create a new product
  • To exit and start with a new idea

Conclusion

Every point discussed in this process is a part of lifecycle of a startup, which is critical to its success.

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