Centuries back there was a time when people used to exchange goods for their livelihood and there was no money to buy things, known by the name of, “Barter System”. There was no buying or selling during those days. If you want “Wheat” and you had “Pulses” you could very well exchange the same with the vendor who had “Wheat” by negotiating a deal with him for exchange.
Then came an era when people starting working for others to earn money to run their livelihood. This further developed into Jobs from Government and Private Sector.
Now is the time when everyone enchants to open his own venture owing to establish something of his own and develop an empire which manifolds into a profitable venture as said: “The Best income is even when you are sleeping the investment grows”.
An Idea of yours in today’s scenario can create a ripple effect that can change the lives of many. Very live examples are organizations like Facebook, Whatsapp, Google which started with a very small idea and from a room and have created an empire that inspires the Entrepreneur to create a Value Addition not only for them through Profit but for Society too.
Many Starts up have started mushrooming in India now with many business ideas but they lack the rock bottom things and fail even though the business idea is too great. In spite of the fact that they have the best of people, knowledge, resources, ideas available to them but still they have tumbled. Very Live Example is Organisation like Snapdeal etc.
An Idea Flourishes when you have the Business Idea pitched to the Right People with the Right Knowledge with effective and strong persuasion skills to invest money with the returns they would be getting. Firstly the Entrepreneur himself needs to be convinced that it is a great and profitable Venture.
The second Important Thing which Startups lack is Hiring the Right and Suitable Candidates. Branding Institutes like IIM /IITs do bring in good resources but they cost very heavily to the organization. It is always essential to hire people with experience rather than branding institutes. Experience people turn around the organization as they know how to manage the crisis, the success of an idea comes with experience and experience comes with learning, you know how to turn failures as these people have already experienced it. Maintain Low Costs and Invest heavily in your people is the Right Idea for Startups.