Saransh Mittal

A lot of new startup founders struggle to devote time to define their culture from the beginning, only to come to the sad realization that trends in culture certainly have an impact on the operational side of business. Seasoned founders and CEOs who believe there is room for culture, experience less stress as they grow. With a huge advancement in technology and ease in finding sources for finance, more people especially the youth are showing major interest towards the new startup culture. Startups work in a transparent environment and they aim at improving the way one serves the customers. So the growing urge of doing something new and different amongst youngsters is shaping the world of today as well as tomorrow.

With the start of new decade, one of the most asked question is:

What startup trends are going to shape the next decade?

1. Bursting myths about startups: The image of the tech startup founder in the 2010s as a laid-back, jean wearing entrepreneur of Silicon Valley could be on the way out. One should not run a startup taking it as just another career step or thinking that it will look cool as it comprises lot of hard work. Too many founders created a business for the wrong reasons—penalizing those founders with good ideas. The penalty of too many failing founders ends in a reluctance, from the client side as well as investors, to trust new startups.
2. Capital efficiency: Investment rounds have risen steadily over the last few years, with average seed valuations reaching a median of between $7m and $11m in the first quarter of 2019, making these businesses more akin to the Series A startups in the past. In many cases, a lot of capital has been wasted on ineffective business models and unsuitable founders. As such, in 2020, VCs will increasingly be looking for strong unit economics, underlying profitability and a good grasp of the fundamentals before making significant investments. Customer acquisition strategies will be key to attain the higher quality growth and a lower burn rate that investors are looking for.
3. ‘Internet of Things’ in the spotlight for investment and security: IoT has entered every area of our lives. While the focus up to now has largely been on lifestyle solutions, we can notice an increasing number of professional and industrial applications being adopted, ranging from healthcare to logistics and manufacturing. This will spark even greater VC interest, alongside a renewed focus on solutions that keep these billions of network entry points secure. While the IoT could be transformative for people and businesses, it will also come with new risks, as connected devices are a hacker's dream because by accessing the weakest technology in the chain, they can infiltrate wider networks. So, with the new possibilities of the IoT, will also come new concerns, and businesses should make sure they have appropriate security measures and protocols in place.
4. A comeback of offline brand building: Most startups we witness today have become obsessed with online marketing, due to its ability to target huge audiences cost-effectively, with the help of growing volumes of data. But, as the costs involved in digital tactics increasingly eat into startup ROI, and as audiences become savvier about the thousands of messages being flung at them from all angles, offline is gradually reasserting itself as a way for brands to differentiate themselves from the competition. With the tightening of online privacy regulations, such as GDPR, and increased focus on non-legal marketing practices, live business events, conferences and meetups can regain their throne and become more powerful as a way to build new relations and grow commercial activities.

But that doesn’t mean that online marketing is going away. In fact, consumers are expecting an even more faultless customer experience from digital services, expecting them to anticipate and respond to their quick needs. Consumers can increasingly expect to be able to have quick, useful interactions with brands during decisive or impulsive moments. So most of new startups are continuously working on being consumer friendly trying to be there when they need them. They are trying to build tools that people start to rely on and build into their habits.

Edited By:

Rishabh Runwal