Reactions on Startup World Controversies: Don't Fall, Bounce Back!
The startup ecosystem is the biggest energizing factor where people meet ideas, they get inspired and come together to take the big risk of investment
India is one of the biggest startup hubs in the world, right after the USA and Israel, we are learning speedily from the change & teaching each other how to be the change.
The startup ecosystem is the biggest energizing factor where people meet ideas, they get inspired and come together to take the big risk of investment. Since, the past few days a lot of breaking news have been coming in from the world of startups.
Since, we are still in the first phase of startup, the front-runners are the biggest source of learning for many who are new in the league. But controversies create a negative aura that might convince people that it is not a good place to be in.
As establishing a startup is the new trend of the mellinnium, and the only road which allows individuals to quit their 'a cog in the machine job' to be their own boss and lead others; even bad rumors in the startup world can affect the aspirants.
First TVF and then Shopclues and then StayZilla... the incidents have come as rapid fire and I'm sure there are more to come. There is trial by media. Sides being taken based on posts and blogs and tweets. In all of the cases, the victims have not commented to the allegations put on them, thus, it proves nothing, the mystery remains unsolved.
No two incidents are similar so its "wrong to paint them by the same brush". What's happening to these startups is not new or specific to startup ecosystem. India is not a startup friendly country at the ground level.
We all owe it to the Indian fledgling and fragile startup ecosystem to handle all these incidents without bias, with sensitivity, learn from the mistakes and come out much better and in a stronger place to chase our dreams and build our destinies.
Certain reaction have been coming in:
Chiranjiv Patel, Regional Director, Entrepreneurs' Organization, South Asia said, "Entrepreneurs are the people who dare to chase their dreams and live it. Starting a start-up and taking it to the pinnacle isn’t as easy as it seems. It requires dedication, hard work, and team effort.
General people being at the other end of the tunnel don’t really experience the start-up blues which the founders have to go through, and we often become judgemental whenever a brand lands up in controversy.
The present scenario in the start-up ecosystem wherein some well-established brands like TVF, Stayzilla, Shopclues has got themselves entangled into issues and controversies prove that hiccups like these are going to stay in the industry but resolving the matter in the best way possible and maintaining the goodwill of the company is what one should focus on.
Controversies do seldom pop up from the private life of the founder or from the least expected areas, but that should not deter one from keep running a great business start-up. We also must not be judgemental and let the law decide on the authenticity of the controversies surrounding the company, as often baseless controversies are created to malign the brand’s goodwill.
I believe that if a person does business with the right motive and within the right set of principles he can always stay clear of such issues. Be it a start-up or any form of business entrepreneurs should keep in mind that what really counts is, “It’s not about how many times you fall, it’s about how many times you bounce back."
Vinay Singhal, Co-Founder & CEO, WittyFeed said, "Problems and crises are part and parcel of every job. These aspects seem to pop up more when you start your own venture. But the success lies in how one overcomes these hurdles, works for the company's betterment and maintains a positive work culture in the firm. Every venture goes through certain difficulties and setbacks, and it is important to understand that these challenges are the actual learning lessons. One should maintain a positive attitude in such situations.
Entrepreneurs should also remember to separate, and personal and professional lives, in order to create a proper balance and create a professional image about the business. Mixing up both because of an untoward reason will only lead to damage in reputation, losing employees', customers' & investors' confidence and ultimately the market share."
Madhukar Kumar, Founder & CEO, Grey Cell Public Relations said, "I think Startup founders of India have created a vibrant and productive ecosystem here. As a result, the entire world is looking at India for its innovative new economy businesses, unicorns, the wealth propagation, economic miracles, and jobs creation. Such expectations from the world make for an empowering and heady mix, no doubt!
Clichéd - but true... With great power comes great responsibility! Startup founders must not spoil their good name and image by doing things that are degrading and bring a bad name to the industry. One wrong deed - one false step: that is all it takes to bring down their carefully nurtured reputation, demoralize the employees, dry up investors' money, and disintegrate the whole ecosystem. I request founders to let this beautiful ecosystem flourish to inspire others to be a part of their dream and journey and our future generations to follow their creativity enthusiasm and passion"
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