At the end of year 2016, India had 19,000 startups. The number is quite significant as this was the year, when the startup scene in India really took off.

As per studies, the above number is only going to increase in 2017.

Many young & fresh entrepreneurs are coming up with brilliant ideas.

There are so many success stories for Indian startups that sometimes you wonder "Where the hell were these guys before?"

"why were we such a conventional society for years aiming for government jobs and settled jobs as government employees?"

We all know Paytm (remember "Paytm Karo"). It is an Indian electronic payment and e-commerce company located in Noida.

The company was launched in the year of 2010 by Vijay Shekhar Sharma.

After 6 years of launching his company, this startup founder has landed in Forbes Billionaires list in 2017 with a net worth of 1.3 billion.

Similarly, another startup, Flipkart's co-founders Sachin Bansal and Binny Bansal who made it to the list of top 100 Rich people.

The last few years have produced so many successful startup stories like:


Sumit Jain's CommonFloor

Amit Jain's CarDekho

Yashish Dahiya's PolicyBazaar

Kavin Bharti Mittal's HIKE

Vss Mani's JustDial

Suchi Mukherjee's LimeRoad

Sanjay Sethi's ShopClues

Kunal Shah's FreeCharge

Kunal Bahl, Snapdeal

Bhavish Aggarwal, Ola and etc.
The above guys are the stalwarts of Indian Startup Scene.

They represent the promise Indian Startups hold in the competitive world of businesses.

But the fact that's also a bitterly truth is that not everyone survives the startup world.

After researching and seeing some stats I found that there was almost 1000 startup that did not survive 2016.

That includes some well-known popular startups like PepperTab, TinyOwl, iTiffin etc

Even after raising huge funds from investors, they couldn't manage to last more than 3 years.

When their founders were asked to speak on what went wrong. They had some interesting experiences to share:

"We operated on a negative margin per delivery, and in such a scenario, the path to profitability looked very distant- at least two to three years"- PepperTab founder and CEO Navneet Singh.

"There was a lot of negativity around the food industry this year" - iTiffin founder Tapan Kumar Das told Tech in Asia.

"Each delay in de-boarding would have reduced cash in bank and with it the chances of survival"- Tiny Owl founder Hashvandhan mandad.

Call it destiny or bad luck, but they failed.

They all have something to take away from failures. Here are some small business startup advice that I learnt from what their founders said.

1.Always be ready for criticism- Take as much feedback from as many people as you think. Seek critical feedback. Ask them what should be changed, What's not fitting well, What could possibly go wrong?, etc, etc. Remember, your worst critics are your best friends.

2. Recruit people who believe in your idea- Whenever you hire people, always find those who believe in you or your brand. Because, if they believe in your idea, they will go to any extent to make it work. They will be tour myanmar từ hà nội your extended arms to help you succeed. They'll always want to do what is best for the company. You will have people with sense of ownership working for you.

3. Respect each other: At your initial stage try to build trust among your members. The ones who are performing well (It can be anyone) should be respected and those who are not performing well should be encouraged.

4. Be flexible before implementing: To get good payback on an investment, there should be a good strategy, a good roadmap to reach the final goal. tour myanmar từ hà nội And it should be flexible. You should not sweat if there are seven or ten corrections required at various stages of the journey. It's about being flexible and updating the plan as you move along. Keeping a budget in mind, practicing frugality, and knowing that plan are necessary albeit constantly in transition are all building blocks of success.

5. Live frugally and spend wisely: There are a lot of startups that burn cash at the speed of light. Yes, you need money to fuel growth, but if your primary strategy is pure spending, you're setting yourself up for a painful fail. Once your team is used to that money spending culture, it's extremely hard to roll back and put accountability in place.

Learn from the 90's tech companies, when the capital market dried up. They had nowhere to go. It eventually led to the first major failure in tech world when companies shut shutter overnight.

I hope this small business startup tips might help you to build a successful startup.

Author is a Startup enthusiast who has over the years failed N number of startups (the value of N stands to infinity) and succeeded few. I hope these small business startup advice might help you to build a successful startup. They all have something to take away from failures.