A start-up company/firm is the process of developing, validating a scalable economic model for the particular project/product by the entrepreneur. Start-ups refer to new businesses that intend to prove their mettle in their field which usually have a solo founder or group of founders and start the process on a small note.
In the initial days, many start-ups face huge challenges and high uncertainty in the market but by overcoming all the hurdles, one can emerge as a successful entrepreneur and influence many, says famous business Astrologer and Astro strategist Hirav Shah.
Steps to be taken after starting up a firm/company
Based on the building up to a minimum viable product ( MVP), the founder of a startup firm should start market validation with problems and solutions in the field as the key topics.
Role of design science in start-up
The role of design science in presenting the model of any start-up is very important as the design science with the help of design principles brings normative ideas which act as a backbone for any company or start-up firm.
Main hurdles in startup actions
As a founder of a start-up, a person usually faces problems in the form of high uncertainty and lack of appropriate information. During this period of time, a founder should act fast and make quick decisions.
In the process of exploring the market, the founder exhibits biases in startup actions.
The biased situation at the initial stage will help each individual to make decisions under uncertainty which may also backfire and cost heavily.
How good is it to follow the guidelines of a mentor in the start-up company/firm?
Not only in a startup but taking advice and feedback from a mentor is always a good idea because their idea will help you to gain knowledge before starting up a business/company. However, once after venturing into the market, it is your smart and intelligent move that makes each individual sustain for a long time.
In the process of strengthening their real-time skills, good advice from a mentor is always useful for the solo startup founder/ group of founders, says Hirav Shah.
A merger between startup companies workout?
As mentioned in the above content, usually the founder of a startup business will be facing high uncertainty and numerous challenges while estimating the fluctuations in the market.
If the founder is okay with a go-ahead with a solid determination, then the result will also be in his favour. But may not be the same scenario with every individual and some may be actually looking up for a tie-up with some other like-minded firm after going halfway through.
In that case, merging comes as a great source of rescue for both the parties as both will be sailing on the same boat by facing similar kinds of situations, says Business Strategist Hirav Shah.
Technical possibilities for merger deals between two or multiple start-up companies?
If both the startup founders are dealing with similar kinds of problems in a similar kind of business, then merging both firms by mutual understanding is not going to be a big hurdle.
In case, both the founders are from different fields and facing financial troubles to take forward his/her company, then the merger with another firm helps in a great way as they both can share the difficulties.
For instance, if a startup founder is failing to meet the month office expenditure then collaborating with a new partner and sharing expenses of the work premises will be a great mutual benefit idea.
As per Astro Business strategist Hirav Shah, merging between two companies owned by like-minded people will have good chances to emerge as a victorious in this comparative world but before taking any innovative and daring step, consulting an Astrologer who has a good grip on Astro science and business strategies will be more helpful and makes the joint partnership venture go ahead smoothly without any misinterpretations.