Dollar eyed entrepreneurs are dreaming about building the next startup that will raise millions and become a brand like Amazon and Uber. The humble ones are thinking of starting online businesses that will create additional stream of income and may be one day help them escape the drudgery of 9 to 5 job. But a big chunk of such startup dreams across the world are going to perish, with India playing a big role in it. And the reason won’t be that startup or online business ideas lack potential.
We are not making things up
This post from Quartz Media says around 1000 startups died in last 2 years only. Kris Gopalakrishnan (co-founder of Infosys) also said that only 5-10% startups scale up and almost 70% will fail. Please notice Mr Gopalakrishnan only spoke about startups. Add online businesses in the purview and the number will grow even bigger. Our team members have collectively spent over 20 years in building, scaling and analyzing online businesses, and think that Indian IT companies are failing a breed of entrepreneurs. To throw light on the same, we wrote a posts which covers:
- DNA of Indian IT companies
- Role of market realities
- Role and responsibilities of service providers
- Growth challenges and precautions
Are you planning to launch an online business or technology driven startup? Don’t pump in money without conducting a market deep dive. Get in touch with us to discuss your entrepreneurial plans and get expert advice.