Your "WHY" | Shivanshi Verma | TEDxBMSCE

TL;DR

Discovering and understanding your purpose is crucial for startup success.

Transcript

so hello everyone I'm shivanshi and I'm co-founder of cubotion cares so today I'm gonna talk about your why and why is it so important to find your reason for starting up and how it helps you throughout your startup Journal so before that I would like to put some really scary facts in front of you which you must have already heard of what is that 9... Read More

Key Insights

• ☠️ The failure rate of startups emphasizes the importance of a clear why or purpose for long-term success.
• 👨‍💼 Personal experiences and motivations can drive founders to start businesses and solve specific problems.
• ⚾ Pivoting based on feedback and market trends is essential for adapting and finding sustainable solutions.
• 🤩 Resilience, motivation, and focus driven by a clear why are key traits for founders to navigate uncertainties and setbacks in the startup journey.
• 💯 Understanding the core reason for starting up can guide decision-making and sustain founders through challenges.
• 🥺 Collaborating with experts in areas where founders lack expertise can lead to innovative and successful solutions.
• 🥹 Building a sustainable and research-backed product is essential for long-term success in the startup journey.

Questions & Answers

Q: Why is finding your reason for starting up crucial for startup success?

Understanding your why provides motivation, sustains you through challenges, and guides decision-making, ultimately leading to long-term success in the startup journey.

Q: How do personal experiences and motivations influence startup ventures?

Personal experiences, such as family health issues, can drive founders to solve specific problems, shaping the direction and purpose of their startups.

Q: What role does pivoting play in the startup journey?

Pivoting, or changing the business direction based on feedback and market trends, is crucial for adapting to challenges and finding sustainable solutions in the startup journey.

Q: How can a clear why help founders navigate uncertainties and setbacks?

Having a clear why helps founders stay resilient, motivated, and focused during tough times, allowing them to persevere and overcome obstacles in the startup journey.

Summary & Key Takeaways

• Clear why or reason for starting a business is essential for long-term success.

• Examples of failed startups due to lack of a clear purpose emphasize the importance of finding your why.

• Personal anecdotes illustrate how a strong why can guide and sustain startup founders through challenges.