In the last few months as a strategist and a mentor, I was a part of a few online sessions organised by Innoberator in association with IIMB.NSRCEL. The objective was to help the Start-Up community, who are in a bootstrapped situation created by the pandemic, where most of these startups are facing the brunt of scarcity of working capital because the investors community are stopping the funding and this, is in turn creating a panic among the startup community.As we heard from a cross section of multiple verticals, we found that the problem is the same as above.
My thoughts are fresh today as I just came out from a long three and half hour online session, where close to 37 startups had enrolled to be a part of the session, to discuss and voice their problems, but when it started off we found that the numbers are less and finally as we moved towards the Q&A session, after witnessing a few presentations of new startups who are more into the COVID season related products and services, we hardly found any questions from the entrepreneurs of these 37 Start-Ups. The problem with the Start-Up community, not to be generic, especially those, who got into an incubator position because the supply of oxygen from the funding community is gradually reducing, is that they are not speaking loud and clear, and they are also not clearly defining their Problem Statement.
Staring at the uncertainty is the problem statement. Instead of staying there and panicking, they should come out, speak out loud and be clear about the exact nature of the problem, i.e, they should define the problem statement correctly.
To get a few certain answers in the uncertain times, when Cluster forums like “IIMB.NSRCEL –Innoberator – Pitchtune” who are really coming forward and willing to walk the extra mile to figure out tailor made solutions for specific problem statements, it is time that the Start-Up Communities avail this, especially those who have started feeling the breathlessness.
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