Obstacles faced by an online startup

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Online start ups have become quite popular and many entrepreneurs have achieved success by monetizing on them. These slides in the form of a story talk of a few challenges that these online startups face and how to overcome them.

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Obstacles faced by an online startup

  1. 1. Obstacles faced by an online startup
  2. 2. “An Entrepreneur attacked by voodoo online”
  3. 3. Karthik approaches Mr.Singh Karthik, an entrepreneur owning an online portal was victimized by voodoo and black magic. However, his personal opinion was that he was not affected by any sort of sorcery; hence he approached an angel investor with his business case study. The angel investor was ready to mentor Karthik and analyze his business critically. They agreed to meet on a weekly basis and review progress until Karthik reached his targeted benchmarks.
  4. 4. Karthik approaches Mr.Singh After Karthik left the place, the angel investor Mr. Manu Singh curiously opened Karthik‟s business case study and started reading it to investigate the nitty -gritties of the situation. The case study revealed the following: For more details visit our blog: http://www.utthishta.com/blog/
  5. 5. Case Study •Started Drapes Clothing Pvt.Ltd •Outsourcing the development of portal versus sourcing a team and developing it in house •Approached a friend for technical help • Badly managed logistics and physical distribution •Received many customer complaints For more details visit our blog: http://www.utthishta.com/blog/
  6. 6. Mr.Singh’s observation After reading the story Mr.Singh realized that Karthik was truly webbed by voodoo and black magic. But, Mr. Singh gave these dark practices a different name. He called Karthik for a review and mentioned the same. Karthik like always was curious to know if some such magic could in reality cause trouble. Mr. Singh replied, “Karthik, this dark magic I am referring to is called „Poor management‟ and hence, you have experienced a cascading affect of problems all through running your business.”
  7. 7. For more details visit our blog: http://www.utthishta.com/blog/ Mr. Singh evaluated and revealed that though Karthik’s idea was good, he took amateur decisions in certain instances. He detailed them as follows:
  8. 8. Online Portal design & development The portal is analogous to a physical shop. The manner in which products are arranged in a shop determines the probability of sale. Similarly the way products and sale points are positioned on a portal determines the probability of customer to buy something on a portal. This factor requires an entrepreneur to focus on design and development of an e-commerce portal. For more details visit our blog: http://www.utthishta.com/blog/
  9. 9. Untimely launch and unplanned market distribution Launch has to be timed and scheduled at a time when the portal would receive high attention or needs to be distributed among online media in such a manner that the most relevant traffic is driven towards the website. In this case women or men who intend to gift something to women. For more details visit our blog: http://www.utthishta.com/blog/
  10. 10. Logistics Though e-commerce is categorized as online business, a lot of action happens on the physical ground and hence logistics need to be planned by every little detail. Especially in this trade, delivery policy, cash redemption policy and product return back policy have to be executed with lot of attention. For more details visit our blog: http://www.utthishta.com/blog/
  11. 11. Customer Satifaction Online sales actually materialize offline, hence tracking customer reactions and sentiments at the time of delivery is a very crucial input for the service enhancement and product development team. This is what leads to further constructive innovation in the firm. Managing these inputs both qualitatively and quantitatively would require use of CRM tools like Salesforce.com, Zoho, Sugar CRM, etc. For more details visit our blog: http://www.utthishta.com/blog/
  12. 12. Negative Mindset Cultural sentiments of our stakeholders have to respected, at the same time a cynical beginning or an apprehensive start would affect the morale of the team and makes the attitude turn towards a blame-game scenario rather analyzing people and situations with an unbiased attitude. For more details visit our blog: http://www.utthishta.com/blog/
  13. 13. Contact Us • www.utthistha.com • Blog : http://www.utthishta.com/blog/ • Slideshare: http://www.slideshare.net/Utthishta • Youtube: http://www.youtube.com/UtthishtaSeedFund • Google + https://plus.google.com/108795327446527541978/ https://www.facebook.com/utthishta @Utthistha

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