Launching your startup into India – 5 key tips
Here’s a big generalisation – almost every startup can find an eager market in India.
I say that with confidence, because the Indian economic growth story means demand for everything cannot be met – demand is huge, so that means opportunity for your startup.
But how to approach India?
First – think longer term than you normally do, but keep in mind modern India can be either fast or slow and there is no way of predicting.
Second – leave your ego behind. Pretty much every western company that has succeeded in India has done so on the support of a strong local Indian team across all levels. To do this, they have effectively left their ego behind.
Third – India wants your startup, NOT your culture. Those who struggle typically want to transfer their “culture” to India, so they put their expat team in charge of the local team.
Being preoccupied with transferring “the way we do things in our company” to India makes them blind to “the way Indians do things there” which is the most important insight for future success.
Fourth – use your expat team wisely. Expats can come and go as needed – but your business needs longevity in India and that is what an Indian management team can provide.
Fifth – Smart companies that go into Asia also ensure they hire Asians into the Head Office team, so you have Asians running your enterprise on the ground in Asia and Asians at the right level in HO guiding and advising the HO team.
The future of startups and innovation is looking good for India.