Most start-ups can emerge as key drivers of economic growth and job creation, and can often serve as a catalyst for radical innovation.
During the COVID-19 crisis, few start-ups have continued to play a critical role for economies.
Few innovative young firms have reacted fast and flexibly to the pandemic, and have been critical in helping many countries shift towards fully digital work, education, and health services, and have provided innovations in medical goods and services.
However most or rather all start-ups can do the same and revolutionise the world, Says Eminent Astro-Strategist Hirav Shah.
They just need to follow the correct approach to proceed and progress.
And the one and only bullet proof approach is the Seven Fundamental Signature Approach For Startups By Hirav Shah.
1.Project / Business Analysis
Startup founders today are faced with overwhelming, competing challenges and uncharted waters as they continue to navigate the impacts of the pandemic. These leaders have to face the crisis with a spirit of reinvention—accelerating digital transformation, establishing variable cost structures, and implementing agile operations.
Meanwhile, a complete GAP & SWOT analysis of their set-up, can certainly catalyse to take the best steps forward.
2. Business Formation
It’s not uncommon for startups to make mistakes while building their business. You will want mentors that you can lean on and learn from in order to stay successful.
Still, some things should be avoided, so as long as occasional mistakes happen, they won’t hurt your company too much. Test new ideas and get feedback so you know what features need work or if the whole idea needs changing altogether.
Failure is just a lesson waiting to be learned from. Sure, it’s tough when you pivot your business model and test new ideas for feedback, only to find that they don’t work out the way you’d hoped — but every mistake or setback always comes with something valuable in return, if you don’t let your pride get in the way of admitting what needs changing.
Also, it is all the more important for luck to bless the startup. The name of the company, project, logo, website and other brand assets need to be auspicious too.
Why take chances !!
Remember- ” luck happens only to the competent “, Quotes Hirav Shah.
3. Sales Timeline and Estimated Income
During pre-covid, seeking investment had been a popular route that entrepreneurs took, to speed up their money making timeline. With substantial investment, a startup was able to immediately invest in the needed marketing and sales plays to generate revenue.
For the well-connected, a startup could get investment through the door and potentially start generating revenue within months if they acted quickly.
Today, this has become really difficult.
But, what if someone tells you your estimated income at least 6 months or 1 year prior?
Sounds unbelievable !!
but fact is, it’s very much happening today.
If you figure out your estimated income in advance, it will be easier for you to formulate a precise business strategy.
With Hirav Shah’s Astro strategic opinion and his calculation of your estimated income in advance, you can analyze your approach towards your goals and make sure you attain them with flying colours.
Pricing is one of the most important pillars of every startup. Underpricing, overpricing or not charging, even if the customers are willing to pay, can mean lower revenue, lost customers or even startup failure. An effective pricing strategy will not only drive your startup profits but also generate higher customer satisfaction and retention.
You can also look for things that are readily available and can be used as per the demand in this time of crisis. Even the smallest of objects can make a big difference in healing the global economy during these hard times.
Stay optimistic, don’t lose hope, be aware and have a lot of patience to fight this pandemic. Everyone is combating this deadly virus and the whole world is working together to eradicate COVID19. Treat lock-down as a period of invention, learning and knowledge that shall nurture a bright future for mankind.
6. Astro Strategy™
Today, you will get a lot of extra time.
Be proactive and not reactive. Dedicate some extra time to reflect on your company’s future and what it will take to get you there.
Will that require you to update your business plan?
Do you need to expand your online presence, interaction, and capacity?
Should you take some classes to develop or strengthen your skills?
Take your great business idea and rule the world with Astro-Strategic guidance from Hirav Shah.
Don’t ease up on the gas pedal.Use this time to get your business in a prime position to jump on opportunities and stay ahead of your competitors. Execute.
Just be mindful that you don’t burn yourself out. You don’t want to be exhausted when the business world awakens.
The world has changed forever, and the speed of change taking place today, means the leaders / founders must act quickly, and boldly, to keep up. By focusing on sustainability, digital transformation, and resilience, start-ups can build competitive advantage and by religiously following Astro-Strategic direction startups can get unbeatable !!