What are the top 10 challenges faced by Startup in India?

Mr. TS Darbari Quotes- “Startups face numerous challenges in India. In this article, Mr. TS Darbari discusses the top challenges faced by Start-Ups in India”

There is a slogan of a famous brand ‘Idea’- “An idea can change your life.” The slogan seems to be true. If you have a good idea in the modern world, it can turn your dreams into reality. That is the power of an idea. Within the last few years, India and the world have witnessed a wave of thousands of young entrepreneurs. However, not everyone’s dream turns into reality because of legal and other challenges prevailing in their country. Mr. TS Darbari mentions following top 10 challenges faced by startups in India:-

1. Financial Resources- Mr. T S Darbari mentions that financial resources are the biggest challenges faced by young entrepreneurs.” Mr. T S Darbari further says that sufficient finance is critical to run a business successfully. There are several options available from family members, relatives, colleagues, short-term loans, grants, angel funding, venture capitalists, crowd-funding, etc.
2. Supporting Mechanism- According to Mr. T S Darbari finding a ‘supporting mechanism‘ is a major challenge faced by startups in India. At present, there are several support mechanisms that may prove to be instrumental in the life cycle of startups like- incubators, science and technology parks, business development centers, etc.
3. Mentorship- Right mentorship or guidance is another important factor in the success of a young entrepreneur. Mr. T S Darbari considers it essential for young entrepreneurs to look for a mentor or gain some experience before commencing a new venture.
4. Building Team- Building a team of talented like-minded people is one of the biggest challenges faced by young entrepreneurs.
5. Creating Brand Awareness- According to Mr. TS Darbari, “Young entrepreneurs must focus on developing an effective brand promotion strategy in order to not only attract potential clients but also to attract investors.”
6. Persistence/Determination- Mr. Darabari shares his experience and mentions that he has seen a lot of startups failing owing to a lack of determination and persistence of founding members.
7. Cost-Effective Strategy for Revenue Generation- Mr. TS Darbari further explains that it is necessary to develop a cost-effective eco-system that must offer quality services to customers with enough revenue to survive and save for future at the initial stage of any business.
8. Customer Satisfaction- Several young entrepreneurs are dreamers. They dream for big offices and too much on brand promotion. As a result, they invest more on branding and lavishing offices rather than focusing on customer satisfaction. According to Mr. TS Darbari, “Customer satisfaction must be our prime goal.”
9. Futuristic Strategy- Only a leader with a futuristic vision can survive the cut-throat competition of the modern world. Therefore, Mr. TS Darbari considers it important to develop a futuristic strategy to survive in the market.
10. Stiff Laws and Regulations- There are numerous laws and regulations for starting a business in India. Though the government is making efforts to make them easier and shorten the process of company registration in India. Mr. TS Darbari says that he has seen numerous young entrepreneurs going office to office to get their company registered. We shall discuss more about these rules and regulations of company registration in India in our upcoming blogs.

About Mr. TS Darbari-
Mr. T S Darbari is a top management professional, with several years of rich & diversified experience in Corporate Strategy, New Business Development, Sales & Marketing, Commercial Operations, Project Management, Financial Management and Strategic Alliances.