Light up Your Startup this Diwali - Common Sense Living Newsletter
 
Common Sense Living India

Light up Your Startup this Diwali

Entrepreneurship
Oct 28, 2016

Light up Your Startup this Diwali 

It's that time of the year when we celebrate the victory of good over evil. When we light diyas in our aangans and put rangoli on the floors of our homes... Portenders of good luck, symbols of the victory of light over evil, darkness, ignorance, and all things negative around us.

And for small and big businesses alike, it's a time to take stock, look at the books, check the profits and losses...and welcome Goddess Lakshmi once again, with open arms, to help grow the business and improve the quality of our work and lives in the year ahead.

The festival of Diwali has immense significance and rich symbolism. But what does the festival mean for today's entrepreneur? And how can we draw inspiration from its many meanings and bring the light of Diwali to our startups? Startups that may be booming, that may be languishing, or that may be waiting to take off?

Here's how:

Kill the 10-Headed Ravana of Weaknesses

Each business has its weaknesses, its 10-headed Ravana. But sometimes we are so attached to our ideas and systems that we are unable to see the 10-headed Ravana staring us in the face. The weaknesses could be in the concept itself, our processes, or the people. So sit back and take stock...

If your product or service has not been able to generate enough revenues, look at how you can reposition or reinvent it. If a partnership or association seems to be pulling you down, consider getting out. Negative energy is not something you want in the early stages of a startup. You need people who give their all in the gestation period, and you need those who fight with a smile. So if some 'heads need to roll', take that bold decision.

Light up with the Knowledge of Research

The light in any startup is the time and resources it spends on research. No startup can venture far if its idea has not been put through rigorous testing. Many entrepreneurs have the urge to run with an idea before they understand how the user will receive it. Many startups neglect to put a feasibility plan in place. This is harakiri. A feasibility plan shows you exactly what you need, how much you will spend, and how much you will earn.

Ideas can be iterated and reiterated at different stages of a startup. But the point is to learn from those iterations and the impact they had on your bottomline. Data-driven decisions are always better than jumping to uninformed conclusions on your own.

Add Design to Your Brand's Avatar

The intricate patterns of rangoli remind us of the importance of design and branding in a startup. There's a reason Apple has so much brand value... The company's focus on design sets it apart and makes their products a more appealing option for buyers with sophisticated taste.

If you haven't thought about branding and brand values as a startup, now is the time to do so. Draw up a list of everything your brand stands for and formulate how you would like to project those values to the world. Do you need to redesign your logo? Do you need more visibility through marketing efforts? Do you need to focus more on social media? If so, set aside some funds for branding and marketing this season.

Share the Sweetness of Stories

All startups have stories to tell. Stories of cash-strapped early struggles and stories of game-changing eureka moments. Stories of happy customer experiences and of overcoming customer grievances.

Share your stories. Your experiences will help others in their startup journeys. Blog, network, go for coffee with others in the startup community. And never hesitate to reach out if you need assistance. Many startup groups are happy to lend a listening ear and can connect you to the right mentors or organisations.


Common Sense Living India

Offer Gifts to Customers

Festive times are great opportunities to rekindle the bond with your customers - both old and new. Reconnect with your long-standing customers with a festive greeting or special seasonal discount. Reach of out to new customers with a campaign creating awareness about a new product or service in your bouquet.

The ecommerce world is full of discounts and special offers during festive seasons. And there's a good reason for this: People are happy and more willing to spend!

Chant the Mantra of Success

We chant mantras invoking the gods, so how about mantras for success? Now is the time to give yourself and your startup a nudge in the right direction. Be positive - motivate yourself and your team to scale greater heights.

I can hardly think of a better time than Diwali to review your vision and mission statement and reaffirm your commitment to light and success.

Image Source: Unsplash.com

 
 

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2 Responses to "Light up Your Startup this Diwali"

S.K.Mandal.

31 Oct, 2016

Diwali greetings. Really great wonderful article written at a time when we need guidance to review the past performance & to take required tough decisions for future action plan to improve our growth. Once again hats off to you for such articles.

Zahid Patka

30 Oct, 2016

Ritika Inspiring &Educative Article For Start Up Entrepreneurs

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