There is always some element of competition. As and when more players show interest in a space, it endorses increasing demand. I have never taken competition as a treat.
Never compromise on hiring the best talent. Build value, not valuation. We have never used tactics like giving discounts, cashback to make customers use our product. This way no one can create a sustainable business.
We are flattered to witness the response generated by the beta program and are working towards accommodating all pending sign up requests as soon as we launch live.
Technology is no longer a luxury. People across generation and geographies are making use of mobile technologies. Startups have capitalised on this phenomenon.
Before I start a company, I always invest at least one year to knowing that sector thoroughly. I research about almost everything related to that business – competition, market potential, revenue model, legal and regulatory obligations, among other aspects.
If you have a strong business idea, then it is comparatively easy now to get capital. It is a positive thing that increasingly more people want to join the startup bandwagon.
If you manage to build a sustainable product, revenue will follow. A lot of startups fail because they concentrate on incremental innovations, increasing user base, and monetisation before strengthening the core of their business.
A lot has changed in India in the last decade. We can attribute the growth of India’s startup ecosystem to the increased penetration of affordable smartphones and data connectivity across the country.
