Avoid These Mistakes To Scale Success For Startups – Jignesh Barasara

Setting up a startup is an easy task as several people have done this. However, is it easy to sustain your dream venture for long? No as many who have tasted defeat will tell you. They made some mistakes which could have been avoided to scale success and make a mark in the business world and reach the top.

So let’s list some of the common mistakes that led to the failure of the startup ventures says Jignesh Barasara.

Doing everything by oneself. You will overwork leading to fatigue and loss of energy at a faster pace. So depending on the size of your venture have assistants for all the works at the startup. Assigning work to others and sharing responsibilities will reduce your burden and you will have more time for planning.

Not adhering to punctual time schedules can lead to an easy downfall as targets and timeline may not be met and can be cause for losing customers.

Not holding others accountable for some grave errors can ruin your chance for startup success. Anyone who has done a mistake has to own up, rectify and not repeat it including you. Otherwise, you can forget treading the success path.

Starting a business just for the heck of it. You need to have a genuine interest in your startup and what you are offering. If it is just a spur of the moment upshot, then you may lose interest in its development and growth. Is this reason not enough for its demise?

Too much immersed in details can lead to failure easily. Perfection is always the ultimate but not in the initial stages when trial and error method, especially at the designing stage, is being followed. So have some compromise at the start otherwise your startup will never see the light of the day and will remain only on paper. There is room for improvement and do it gradually to perfect it at a later stage.

Hiring too many people at the start can call for an early fall. 

You may not be able to make a profit in the initial stages. Then there won’t be enough funds for the people on the payroll after a couple of months leading to chaos and dissatisfaction. This can stall your success.

Starting with too little capital is risky and can lead to a stagnation stage. This again gives room for shelving success.

Not exactly knowing the customer needs and doling out products that have no real demand cannot lead to a successful startup venture for long.

Not having a proper strategic planning at the initial stage is not a way to set up a startup. This is a sure shot path to failure as in the midway you will be gasping for ideas and planning which may not be available.

This is not an exhaustive list but keeping these points in mind you will know what mistakes not to make your entrepreneurial dream a success.

Economic Growth 2021 Forecasting For Manufacturing Vendor - Jignesh Barasara

Economic growth and its forecast will depend on the future marketing trends and also demand of different products. Creating a demand for the products and meeting its supply will create for a stable business model and also boost economic growth.

The manufacturers need to tap into this when there is demand for certain products they are making to help boost their business says JigneshBarasara.

Most of the businesses are interdependent. When one of the sectors gets weak or unstable then many of the businesses get affected. To help the manufacturing vendors have a stable growth and to know what the future holds for them they need a forecast for at least a 3-4 years ahead. It is the work of the economic bodies to make such forecasts. This being the year 2018 the forecast for 2021 can be predicted. This is based on the present scenario in the economy and what can be expected on the basis of today’s trends on the global front.

There are many criteria that help for the growth of any sector. For the manufacturing sector they need to have manufacturing knowhow, good infrastructure, support from the government, ease of doing business among other points.

Today in India the ease of doing business has improved as some of the restrictions that were imposed have been removed. This has given a boost for the manufacturing sector. It has become at par with the global standards and the Indian goods have a better market for their goods in foreign lands now. Thus you can forecast that there is scope for ample growth for this sector as you can see the number of such vendors growing in different areas of manufacturing. This will add to the economy of the country.

India has a huge skilled manpower and so the cost of attaining can be said to be relatively low. This helps to minimize the cost of production making way for better pricing and increasing their penetration into markets not pursued. This will surge demand and sales and bring in ROI sooner.

The infrastructure plays a huge role for manufacturing sector.

 The bar for this at the global level has been raised. Indians have to match this up to stay in the competition. With different kinds of technological advancements and the reach of these on the global platform becoming bit easier the latest trends of these have been deployed here too. So it has become possible to make goods at the standards of the global level.

The manufacturing sector will be seen to add to the economy in the coming couple of years what with the support of the government and offer of initiatives, incentives and tax reforms for startups. This is surely going to see an increase in the number of products made along with number of people joining this sector swelling thus giving a boost to the economy by the year 2021.