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Multiple ways but one goal- to Startup!

During last few months I have met many different type of startups and wannabe entrepreneurs. There are some common characteristics which define almost every entrepreneur like determination, positive attitude and strong will to do something on own.

I have seen that people have different set of reasons to start something. There are a few major categories under which a wannabe entrepreneur starts his business. I tried to understand various situations which leads to a startup. My observations are limited in the sense that I haven’t yet met hundreds of startups, and I would like you to add your ideas with mine over here.

ways to startup

I’m focussing on 3 different ways to startup based on what I have observed-

  1. What an Idea!

The most common reason for starting an entrepreneurial venture is that ‘Spark’!  The idea which you think will change the world. The idea is first tested on a part time basis, either with studies or with job and when the need for the idea is understood the plan is taken further.

The only problem with this approach is that it takes some time to get the idea on canvas, as one become’s very much obsessed with the idea part itself. But once the idea is proven at different platforms and is implemented based on feedback received during the period the chances of success increases.

The risk part is also a bit reduced as one generally gets some good backing from influential people during the idea valuation stage. Ideal age for starting up is 20-35 in this case.

Companies like Google started on this premise only.

2. I’m Fed up of this job!

The other reason for starting up is the frustration and inability to execute your own ideas in the office. You are talented and have hell lot of ideas which you think are great. Then you get frustrated to the point that you decide to quit your job, and start something on own. But suddenly you understand that the ideas you could execute in your office are no longer viable keeping in mind the limited resources. So you try and find out something which is related to your work profile and is doable and start working on same.

The main disadvantage is that there is tremendous pressure to prove that you can ‘generate’ ideas which will click in near future. But on the other hand, the advantage lies in the fact that you become 100% dedicated towards the idea of starting up.

The risk factor is higher in this case comparing with the above, simply because the idea is not proven yet. Ideal age for starting up is 25-35 in this case.

Mr. Murthy and his Infosys is a great example where the idea for starting up came after he left his job at Patni.

3. I know how things work!

This is the least risky path which most of the industry veterans choose. They already have huge bank balance and sufficient experience in relevant fields. At one stage they get some high profile people along, set up a fund and start generating money through leads which are already in their contact lists. Such type of entrepreneurs have almost nothing to lose and they start a new business mainly as a hobby and to get a bigger bank balance.

The disadvantage here may be the lost spark, which leads to banal ideas which are already proven! But the advantage is the relevant experience and good client base.

Idea age for founders here is 40-50+.

For e.g. Jagadish Khattar left the post of MD at Maruti and has started ‘Carnation’ which is a multi-brand service centre for Cars. Although his idea is unique but the fact remains that he’s started off in an industry already well known to him.

I know there may be other view-points too, and I’m very much excited to hear them from you :).

About rabigupta

Rabi Gupta is a start up enthusiast and Founder of iDubba.com (Intelligent Box). He is passionate about new and interesting ideas in media and entertainment field.  Read more of his stuff at blog.idubba.com or follow him on twitter as @idubba.

6 comments

  1. Abhinav Mishra

    hi rabi, well as ARUN rightly pointed out, many startups r a result of sheer frustration, d kind m going thru right now. But it would be really kind if u could give me a few tips about how do you go about generating funds and researching about the ideas you have in mind! eagerly awaiting your reply abhinav

    • Hi Abhinav, glad to meet u :). We aren’t yet funded and r still going through implementation/struggling phase. But its the spark which keeps us going. there should be a goal before taking up anything, and the case is same with entrepreneurship. The reason for starting up could vary but the formula for success remains same- focus, patience, perseverance and luck! Ideas come when u start working on something and make mistakes, but one should learn to live with them while starting up! I’m ready to share more of my thoughts anytime on a personal basis, you can contact me on rgupta29[at]gmail[dot]com

  2. Hi Arun, that’s a real good point. In fact this is the very basic of them all, I shouldn’t have missed :)

  3. Ketan Khairnar

    Rabi, nice article. But if you see there is one more category and I see that pretty dominant one. Most of the good techies want freedom in the sense they want to work on things they enjoy and one more freedom they are seeking is financial freedom. Get rid of current/future debt by working hard on specific problem/solution And most of these people are seeking for higher compensation for their skills/work ethic and they aren’t stuck to ideas of security/brand name of the company as long as they get paid well and work is fairly interesting.

  4. Arun Prabhudesai

    Hi Rabi, Great points…but you have missed an important one – Trust me there are more startups that have born due to desperation – from people who really did not get jobs, so lot of them started off and it clicked…this especially happens in the lower rung of the society, when people are not very highly educated. Dont think only about tech startups – A person who has setup a small snack bar at the corner of the road is also a startup :) what do you think?

    • Hi All, I live in Fort Collins, CO USA. I’d really like to make some contacts in India; the project that I have been working on is poised for rapid growth in both India and China. I am an affiliate marketer and have a really difficult time (no surprise) avoiding being disregarded as a spammer or robot when attempting to make foreign contacts. Please send me an email to david.donovanfc@gmail.com and tell me a little about what you are working on, I have a website but won’t send it unless you ask me. I’m looking for people who can begin a new project but if we end up just trading links on our blogs that’s great too. Ho[e you’re doing well.

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