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How to measure the success of your startup
In the present context things of business dynamics have changed as success of business is defined on various aspects. Earlier success of a company is to be decided only by its balance sheet, its profitability, its growth year on year and how it has performed and getting listed on stock exchange and providing a single shareholder the value for his money.
These things have changed to various aspects of measuring success of a startup. At present the success is measured by the valuation of the business no matter if it’s making profit or loss. It’s all about valuation games which keep on increasing and funds are raised and investors keep changing and existing.
The loss or the bottom line is never looked in as the reason is that market penetration or customer discount burning or customer retention is the word given.
The other measures are the brand value of the startup these days. It is also the top management is it from B school or from which top schools as human valuation is also considered success of the startup.
The core of business bottom line is forgotten, when once an unexpected pandemic strikes all these castles built on sand start to crumble with waves hitting shores and ensure the castles are raised to ground.
All the various metrics of success disappear in thin air leaving the employees in lurch of knowing where to go. The reason is the startups don’t have robust business models which can survive the storm. The model is good only under growing conditions where everything is getting hyped and increased is where it can grow.
Plants, which cannot survive drought, are not fit to survive, everyone can run business when things are good, the revenue models are built such that it grows when things are fine.
The present pandemic will create good lessons for various startups which were once heroes and then just disappeared without a trace.