Startups should be ahead of the curve on technology, brimming with ideas, and constantly think about how they can simplify the life of a consumer, according to well-known business advisor Ram Charan.
“Invention, innovation and industrialization are important for startups. Your conviction will give you confidence, it is also vital to find partners; find what you really like and devote yourselves there,” he advised entrepreneurs while speaking at UST Global’s three-day annual Global Developer Conference, D3, here on Wednesday.
He said one of the most important things for startups is to develop products and services that would change the life of the consumer for the better. Entrepreneurs also need to have conviction, and the ability to identify their near and future problems.
Mr. Ram Charan, who has spent the past 35 years working with many top companies, CEOs, and boards, cited the success stories of Bill Gates, Jeff Bezos and Steve Jobs, noting that the one common skill they had was “defining the impossible obstacle precisely” which helped them raise their startups to the global stage.
Through keen observation and analysis, Ram Charan forms powerful insights that help business leaders face their toughest challenges in the areas of growth, talent development, corporate governance, and profitability.
“They had no real formal education, but they had the fortitude and courage. At a time when there was no Google, they had the courage to directly call the CEOs of big companies,” he said.
Stating that flexibility, speed, devotion, and end-to-end total involvement together are needed for startups, he said that UST Global is first and foremost very agile to changes. “We work together with the startups, and we multiply great exponential capabilities. We also take the startups with us to the customers and help them grow, eliminating their problem of marketing and access.”
Meanwhile, elaborating on the power of ideas in startup culture, Sajan Pillai, CEO, UST Global, said that from day one, their dream was to touch three billion lives through technology. “Startups of today are challenged by meritocracy of ideas. The hunt for ideas is the essence of startups. Our job is to listen to your ideas. This is what we tell our customers: innovative ideas open all doors.”