Ahoy there! 🙋♀️
As the Blues commemorate their 8th Premier League victory, We Celebrate our 18th edition of E-Cell IIT BHU’s Weekly Newsletter, bringing to you the crispiest news from the Startup Ecosystem ✨
#primetime
Funding Slowdown - What can Indian startups do? 📉
In India, the biggest impact of the global slowdown 📉 is being seen in the form of layoffs and cost-cutting measures by startups and restructuring of businesses around growth areas resulting in further downsizing. ⬇️
Since the beginning of 2022, at least 5,600 startup employees have been impacted by cutbacks, termination of contracts, and layoffs🕴️
YC urged startups to cut their expenses 💰 and focus on extending their runways. “If your plan is to raise money in the next 6-12 months, you might be raising at the peak of the downturn.↘️ Remember that your chances of success are extremely low 👎even if your company is doing well. We recommend you change your plan,” YC said in the " Economic Downturn memo.”💵
The challenge for Indian startups will be to streamline operations⚙️, cost structures 💳, and monetization models 🪙faster than the slowdown catches up to them. Startups realize that now is the time to focus more on unit economics 💹, sustainable scaling-up, and business fundamentals.🏢
#whatsthisword
Go-to-Community Strategy (GTC)
A go-to-community strategy (GTC strategy) is a plan that specifies how an organization will create and engage with its community,👥 provide value to its members, and derive value for itself.💸
The community also leads to greater 🗣️ brand awareness, higher switching costs, 💲and scale economies.💹
Buyers have endless choices in today’s market, so companies can’t rely only on features and pricing to win business. 🥇This is why companies like Figma, Lululemon, Salesforce, Sephora, and Twilio put community first and foremost in their strategy. 📈
#quotethis
“Sometime it's important to wake up and stop dreaming. When a really great dream shows up, grab it.”
― Larry Page, Co-founder of Google
#weeklyspecial
How to Get the most out of a Product Beta Phase 💡
Startups and large corporates alike will often release a version of a product 📲with a beta label attached as a way to ‘soft launch’ a product and collect feedback with the understanding that the product is still in a testing phase. 👨💻
Still, one central question remains 🙋; How can you and your Startup team get the most out of your beta phase❓ Here are some ideas to help. 💡
#youtubebinge
Consumer Behavior in India 🧠 is primarily driven by the great Indian Middle Class. You would wonder if it is excellent that you indeed belong to the Indian Middle Class and, therefore, you could empathize with them. However, you may not be a part of the middle class, as it turns out! 🤔
Watch this fantastic session by Ankur Warikoo as he dissected the art of selling to the Indian consumer. Drawing on his experiences from running Nearbuy.com,🏬 Ankur talked about the three critical things to running a B2C internet company in India🌐.
#tweetworthreading
AdobeSign founder on the reality of SaaS businesses 🧑💻
That’s all for this week, folks! Stay tuned for more fun stories and exciting news from the startup world until we meet again.
Goodbye👋👋, Happy reading 📖