How startups can avoid competition??

I was reading an article by Vimarsh Bajpai,which reflects on the various parameters that may hinder the way to success for the startups. It is a general fact that startups face many challenges to establish itself amongst the big and established players in the market.The need of the day is to have a multi-prolonged strategy.The article aptly put forth the key pointers that can help any entrepreneur to the tackle the competition in the market and business.

1.KNOW YOUR COMPETITION:When you enter the market unprepared,the unawares hit you and opens the way to failure.So a competitor analysis is a must to know the current market condition and the existing products and services that are doing well.

2.GETTING YOUR FIRST CUSTOMER:A rapport with the previous employer or people known in good terms can easily get you your first customer.But definitely one has to work hard to make significant sales.

3.OFFERING NICHE PRODUCTS & SERVICES:This is where the starups can drive the wind their way.If you desire to get noticed, you have to bet and carve a niche for youself which can raise a new platform in the market against the existing businesses and its offerings.

4.COMPETITIVE PRICING:It becomes essential for a startup to price competitively.Offering a variety of pricing and deployment model can actually make pricing a non-issue.

5.SERVICE QUALITY:Setting new benchmarks for quality could be a great differentiating factor.

6.ADVERTISING & PR:For startups "word of mouth" is the best startegy.Outsourcing work to smaller PR agencies and networking are the major means that can lead the startups to reach the new customers swiftly.

7.EMPLOYEE MOTIVATION:As the startups cannot offer huge pay packets , an inspiring work environment can make them get most out of their employees.This would also provide them a place for experimenting and coming forward with different new ideas.

8.CONSTANT INNOVATION:It is the only way to retain customers and add more to the kitty.

9.GRAB A PIE IN BIG PROJECTS:Large corporations get their work done from outside agencies and it makes sense to grab ssuc business.

These key pointers should be kept in the mind before entering into any new business as it will definitely help in avoiding a large percentage of risk that any entrepreneur may face while formulating the business plan-from idea to reality.

Posted by:Jaspreet

Proto.in - India's Premier Startup Event (Day-2)

DAY 2 - The 2nd day of Proto.in - The 5th edition of India's Premier Startup Event started with an announcement that the number of tweets on Twitter (protodotin) was the highest ever pan India for yesterday. The day started with Bob Young, Lulu (Co-founder of Red-hat Software) followed by Mr. Ashish Gupta of Helion Ventures focussing on the various aspects of do's and dont's for a startup. Mr. Ashish Gupta explained the happiness of owning a Startup by the most accurate definition of Happiness - It is the distance between expectation and delivery.

The Showcase of The Event's TOP 6 Startups were NuAlgae, Remindo, Oohaa Service, Inkfruit, Fachak and Taroby. The most impressive of the lot were Inkfruit and most of the VCs look convinced with their idea of designing T-shirts online and then selling it in the offline and online space.

The Post lunch session started with interesting conversations on mindboggling topics and had a lot of public opinions coming in. It was followed by the Shotgun Startups and Innovation Jam. Soon I realised the day had ended.

The Proto.in team did a fabulous job in conducting the entire event in the most professional way. Mr. Vjay Anand, The Curator and Mr. Kiruba Shankar anchored the event in the best possible way and it was indeed a pleasure interacting with both of them. The guests, invitees, sponsors and everything were near perfect. Ohh, Did I miss lunch ? It was the best :)

Team - Grey Oasis is looking forward to the 6th edition of Proto.in - India's Premier Startup Event in July 09 at Mumbai.