Last week, I read an odd, not-so-encouraging statement on start-ups from an

industry veteran. To my astonishment, industry executives appeared to be in denial

and unable to admit that the young Turks have posed a threat to conventional,

family-owned enterprises. Rather than doing a thorough examination and

developing a strategy to address the threat to their survival, they are convinced that

start-up funding will dry up at some point, and they will be routed.

That is what compelled me to start writing this blog. I sought to articulate how

new-age start-ups are aggressively disrupting and attacking old business models,

and why incumbent executives should take them seriously rather than

dismissively.

DISRUPTION

The majority of the brains behind these new-age start-ups are keen and quick at

spotting existing business faults. To close those gaps, they must abandon

traditional fallacies and generate a disruption that stems from technological

innovation. The founders of these businesses understand that they are operating in

a customer-centric world, and they must always keep the client in mind. While

incumbents struggle to enhance efficiency despite attempting Business Process

Reengineering (BPR), the new generation start-up outsmarts those abnormalities

through the clever application of technology.

 

SCALABILITY

New-era start-ups are going for the stars with no baggage or history. I'd be amazed

if a retail store could even come close to a fifth of the total footfalls of Flip kart or

Snap deal, let alone the depth and breadth of the product range. The ability and

speed with which mobile technology and analytics may be scaled up are faster than

any traditional configuration.

 

REACH

 

With these new-age start-ups, doing business is simple. The Oneplus One phone is

an excellent example to use here. Despite having no manufacturing facilities in

India and a nearly non-existent distribution/dealer network, the company was able

to sell a massive number of phones in a single flash sale.

The brains behind these start-ups have that kind of business expertise. Many

examples, such as Snapdeal, may be found. PayTM or Housejoy are two options. A

plumber is available on call, and dry cleaning services are just a click away. These

Internet or App-based solutions fill a lot of gaps and may serve a big consumer

base without encountering any difficulties.

MANAGEMENT OF CHANGE

As I have stated, start-ups are fearless. Even if some start-ups grew quicker than

others, they were still pushed by competition, and these new-age entrepreneurs

showed the bravery to change business models quickly.

They have been conscious that the attempt required can be large however

additionally they knew that the profits can be large too.

 

BUSINESSMODEL

 

 Therefore, it is futile to waste time on know-how their enterprise fashions, and

enterprise good judgment. Barring a few, maximum of they do sufficient

homework and follow good judgment earlier than embarking upon the journey.

They ought to ability to motivate a disruption and reach a lengthy run. I strongly

sense we must recognize the braveness proven with the aid of using the new-age

start-ups and the marketers who display the braveness to begin. After all, they've

affected an alternate manner enterprise become attaining to customers. The

incumbent operators are encumbered with numerous legacies. They are all

attempting difficulty to compete with the new-age groups with a conventional

mindset. In my opinion, that`s a massive mistake. This, in my mind, is a 1/2 of

hearted technique and is getting used to decrease the threat of failure these days

however will value them dearly with inside the lengthy run.