The 10 Most Emerging Tech Startup In India

Building Long Lasting Successful Startup with Strong Foundation Base

“A startup messed up at its foundation cannot be fixed,” Thiel’s Law, author of Zero to One.

Beginnings are always special and creating a foundation can be rewarding. How important are the foundations? We all are well-aware that a poor foundation could possibly fall, but a strong foundation always stands for many generations; whether its of a building or that of a business. A strong foundation enables a business to grow and flourish. If it’s not strong enough to cope with the workload, the businesses can collapse. It is often said that more than half of new businesses fail in the first few years. And, according to one of the independent survey reports, near about 80% of businesses fail in their early days.

In construction, a lot of work goes into getting the foundation set up correctly. Not to mention just the sweat and energy that goes on just to prepare the foundation, even before the building gets started. Because anything we start, we cannot succeed if there is no clarity ahead. It is important to have a foundation that is well-planned and it must continuously be measured. As it is wisely said that “What gets measured, gets managed —Peter Drucker, American-Austrian educator.”

Experts suggest some Key Performance Areas(KPAs) and that it is important for a startup to perform well on those measures to grow further. These are: Leadership, Marketing, sales, Financial Management, Operations Administration, Product Development, and Customer Service.