It's that time of the year when we celebrate the victory of good. Welcome goodness once again, with open arms, to help grow the business and improve the quality of our work and lives in the year ahead.
The festival of Diwali has immense significance and rich symbolism. But what does the festival mean for today’s entrepreneur? And how can we draw inspiration from its many meanings and bring the light of Diwali to our startups? Startups that may be booming, that may be languishing, or that may be waiting to take off?
Kill the 10-Headed Ravana of Weaknesses
If your product or service has not been able to generate enough revenues, look at how you can reposition or reinvent it. If a partnership or association seems to be pulling you down, consider getting out. Negative energy is not something you want in the early stages of a startup. You need people who give their all in the gestation period, and you need those who fight with a smile. So if some 'heads need to roll', take that bold decision.
Light up with the Knowledge of Research
The light in any startup is the time and resources it spends on research. No startup can venture far if its idea has not been put through rigorous testing. Many entrepreneurs have the urge to run with an idea before they understand how the user will receive it. Many startups neglect to put a feasibility plan in place. A feasibility plan shows you exactly what you need, how much you will spend, and how much you will earn.
Ideas can be iterated and reiterated at different stages of a startup. But the point is to learn from those iterations and the impact they had on your bottomline. Data-driven decisions are always better than jumping to uninformed conclusions on your own.
Add Design to Your Brand's Avatar
The intricate patterns of rangoli remind us of the importance of design and branding in a startup. There's a reason Apple has so much brand value... The company's focus on design sets it apart and makes their products a more appealing option for buyers with sophisticated taste.
If you haven't thought about branding and brand values as a startup, now is the time to do so. Draw up a list of everything your brand stands for and formulate how you would like to project those values to the world. Do you need to redesign your logo? Do you need more visibility through marketing efforts? Do you need to focus more on social media? If so, set aside some funds for branding and marketing this season.
Share the Sweetness of Stories
All startups have stories to tell. Stories of cash-strapped early struggles and stories of game-changing eureka moments. Stories of happy customer experiences and of overcoming customer grievances.
Share your stories. Your experiences will help others in their startup journeys. Blog, network, go for coffee with others in the startup community. And never hesitate to reach out if you need assistance. Many startup groups are happy to lend a listening ear and can connect you to the right mentors or organisations.
Offer Gifts to Customers
Festive times are great opportunities to rekindle the bond with your customers - both old and new. Reconnect with your long-standing customers with a festive greeting or special seasonal discount. Reach of out to new customers with a campaign creating awareness about a new product or service in your bouquet.
The ecommerce world is full of discounts and special offers during festive seasons. And there's a good reason for this: People are happy and more willing to spend!
Chant the Mantra of Success
We chant mantras invoking the gods, so how about mantras for success? Now is the time to give yourself and your startup a nudge in the right direction. Be positive - motivate yourself and your team to scale greater heights.
Think of a Diwali to review your vision and mission statement and reaffirm your commitment to light and success.
Ref: Common Sense Living.