Success rules for startup ideas

©Geospatial iT Please contact: Mukund Harne<mukundh2013@hotmail.co.in>©Geospatial iT Please contact: Mukund Harne<mukundh2013@hotmail.co.in>
Startup Idea
Give wings to your startup idea:
10 tips to take off!

Background
• Disrupt, reinvent and be your own threat to make your
business idea happen, says tech entrepreneur Poonacha
Machaiah
• Call it a fad or a trend, starting a startup is the newest craze
for many in corporate India. Big or small, size doesn’t matter.
The simple idea of becoming an entrepreneur and working for
themselves is driving successful professionals into startup
starters
• Having worked at senior positions in Fortune 100 companies
and as an entrepreneur for the last two decades, Poonacha
Machaiah, founder and CEO of ABOVE Solutions, a tech
company, shares 10 laws of success from startups that have
now become global names

Top 10 Laws of Success (1/5)
1. Inspiration and purpose:
We need to find inspiration and work on products and
solutions that have a higher cause. Make the purpose a
priority. Your business and marketing should all form part of
the startup’s core strategy.
2. Disrupt and reinvent:
As a startup, you have the advantage of not being
encumbered by legacy (culture/systems). Therefore, you
have the ability to be nimble and disrupt the market if you
have the right insight and if you fail, you can reinvent.

3. Design thinking:
Design thinking has become a set of principles for tacking
the world’s biggest problems. This should become an
integral part of a startups management strategy and
permeate across all functions in the organisation.
4. Open approach:
The best example of this is Tesla. Tesla’s desire to be a
positive force for change - not just for its customers but also
in the automotive industry- led it to offer its API and patents
to the world. This also applies to your transparency in doing
business i.e. putting integrity first.

5. Be your own threat:
Imagine your worst challenger and work out how to meet
the threat. Ask the question: “What is the wrong thing for us
to do now?” Because answering the question now would be
the right thing in the long term.
6. From selling to storytelling:
Don’t boast about how wonderful your startup offering is.
Rely on the value to show people by living the story of the
brand. Create compelling real narratives of impact.

7. Push for more:
Constantly look for ways you can deliver value not only to
your business but also to grow the entire marketplace. Your
values will help you stand out.
8. Curiosity and exploration:
Startups adopting the culture of experimentation are better
equipped to understand new technologies and platforms.
They are also quicker at adapting to a fast-changing
environment. A culture built on curiosity and exploration of
the new ensures that opportunities are constantly
considered. Nobody does this better today than Google.

9. Curate, don’t create:
It is not always essential to design your own game-changing
product or service. With the plethora of talent in the
industry, sometimes it is about effectively partnering and
creating an ecosystem to deliver a compelling value
proposition to the market.
10. Empowerment:
Hire the best talent and empower them. Give them the
ability to make a difference to the organisation and the
community at large.

©Geospatial iT Please contact: Mukund Harne<mukundh2013@hotmail.co.in>
WWW.GEOSPATIALIT.IN
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Success rules for startup ideas

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