Almost 50 per cent of the unicorns took less than five years from first funding to reach unicorn status, becoming a unicorn is a journey of startups who commits mistakes, learn and move ahead swiftly. In today's fast-moving world, it is necessary to understand the business model and demand of trends, however, those who don't work with trends get out of the line.
"Unicorns should stick to clear thoughts, understanding their products and the revenue model. A lot of businesses shuts because of ignoring these key points due to which other unicorns can surpass your model whenever and wherever you lack. Reinvent yourself," said Mohit Saraf, Founder and Managing Partner, Saraf and Partners.
There are ideas of unicorns that come into the market without regulations but when these ideas benefit on a mass scale then regulations are not the factors that can disturb the idea. Companies such as Flipkart and Amazon are in the market because of their large ecosystem which is benefiting the mass.
Unicorns should have multiple leaders at every level and multiple co-founders. They should know about what's the right time to enter the public market and be familiar with the funding processes such as venture capital, private equity, institutional investors and the public market. The public market is not so good for businesses that are not much stable. If a unicorn becomes a listed company, one should know pricing guidelines, large public float, and change in control.
India is currently having 500 million internet users and it is expected to have 900 million internet users by 2025 with this increase tech businesses can do very well.