When every organization is considered as families, Most of the startups are like the born Indian Middle-class families. They can neither initially earn big revenue nor spend huge until they get the proper job in an MNC, an investor or a series of funding.
Either a funded or non-funded, Every startup is haunted by the Financial crisis until it is no longer called a startup.
There are various reasons why startups need to burn oil in the night & currency in the market to live.
- Competition: Entrepreneurship is the current trend that allowed everyone to call themselves as the Co-Founder of a startup just by owning a blog. Anyways, such blogs who started as the Tumblr blog or a Facebook page are now in the list top 25 startups announced by LinkedIn. Startups don’t just sustain unless they have a strong idea, motive & it can address a few pain points. The exaggeration that entrepreneurs still carry is, they need to spend money to establish & create a better brand by spending more on advertising to withstand the competition. Money Starts burning then. It is the modern “Survival of the fittest”
- Clients / Customers:The other important reason why startups start spending is to gain customers. Most of the startups don’t gain customers in organic ways, they can’t wait until the brand reaches everyone. They need to buy clients to make revenue using immediate ways like paid advertising, 3rd party data providers, PPC, etc. Finding the right target customers needs to consume either money or time, time is the only thing startups don’t have so they prefer burning money. There are different Digital Marketing tools powered by AI for lead generation that can get you right prospects without spending any money. It can generate leads that sell 89% more.
- Technology: This is the one thing where everyone needs to spend it mandatorily but, there needs to be some backup before getting burn out completely.
Technology is important but staying alive as the company is more.
There are various technological advancements like AI, AR, VR, etc. & tools that help carry your daily business activities seamlessly.
LinkedIn has recently announced it’s a list of top 25 startups in India. Out of which, A few are started just like a Tumblr blog or a Facebook page which now turned out to be the renowned startups growing big with their financial tactics & growth strategies.
They were neither #SecretSuperstars & nor supported by any #Influencers, in the beginning, Maybe they might have supported by mentors to learn to save minimal expenses to make use of it in the long run.
Entrepreneurs should know those simple things then where we can save every penny as a middle-class family member can put us on high grounds later when you really need it.
Now you knew the reasons why startups are forced to spend money in unwanted areas & we are presenting you a playlist of videos that explain how a startup can avoid these & save a lot of money by implementing some free tools in their daily activities.