Startups are awesome because they create new markets or completely change old ones by putting out products, services, and ideas that can change the world.
Rocket ships & Plane analogy is just awesome. I am going to use it from now on. Here is my definition that has been always around in my head - Any businessl which is based on a technology that has never been tried before atleast in a particular region and has a potential to scale rapidly is a startup. But I guess there will be no correct definition. There are some type of companies that you missed for example some companies which are backed by Angel investors and VCs, but there only job is to do very high end research in a particular field with no hope of turning profits for next 10 years. Moderna & BioNtech are a couple of good examples. But there are also a couple of other companies in Israel, California & India. How will these companies be classified. But lack of definitions and standards doesn't scare me on the contrary this is what is so exciting about observing free market. This is why I watch channels like yours and read business papers and one day when I will have somethings of my own will actively engage in this field.
Interesting take! It's fascinating to see so many definitions and there's no clear line between MSMEs and Startups. As you mentioned about the rocket ship analogy, I would say, If a business idea is very clear like in terms of manufacturing or services and you need funds to go ahead, then I would term that as MSMEs. On the other hand, if an idea requires product development, R&Ds, testing and debugging, validation, etc. then I would say it needs to be considered as a Startup regardless of the total employees, culture, etc. I may be wrong, what do you guys think?
But then manufacturing requires R&D as well. I think government has done a god job defining startups, considering all the important points :- 1. R&D 2. Scalability 3. Massive Employment opportunities. All businesses require adaptation as you mentioned but what essentially makes atrtups different is blasting like a rocket analogy.
I have started my startup or msme whatever it is idk, it is a platform for early stage startups or msme (idk again) to build their mobile apps using there existing web apps.
It was about time that we double clicked on the definition of startup. Companies like Zomato or Ola should not call themselves a startup. For me a startup is a company where the executive team/C-suite gets their hands dirty and interact actively with all the team members irrespective of their band or designation. I feel that bigger companies call themselves "Startups" just to justify the chaos, lack of processes and the hustle culture. I strongly feel that the bureaucracy exists only for the unnecessary. Also, is imperative that any company that wants to exist long-term aims for constant innovation and scalability. P.S. I love hot chips too. Haha
I am a startup advisor, and we have our own criteria, 1. Ecosystem Disruptor Ola upended the taxi Amazon upended the books Netflix closed Blockbuster 2. Desire to be Number 1 in the chosen industry. (Let us say they are trying to be in a niche market, no. 1 in that segment of the industry). Tesla - No. 1 in EVs FB's desire to be No. 1 in social media undid Orkut and MySpace Of course, we want to see the strategy backing their desires and plans. But yes. for us these two are important. If you are doing something someone else is doing fine, but can you do it better than them. Like, google vs yahoo. That is what we look at.
Startups are something which itself is a product that can be sold in future. Along with selling their products and services, startup founders also focus on nourishing that startup to become a perfect product for sale. which they can sell in future either to venture capitalists, bigger companies or to public via IPO. On the other hand, non-startup MSMEs only focus on selling their products and services.
Well I think you need to look at the term start up. It means there is an expectation of going someplace. Once you are on the way to the destination, you are no longer a startup. Prior to this, you may be changing business models, product adjustments, funding etc, and are definitely a startup. In the case of the msme chip guy, once he has a shop, fryer, recepie customers and materials he is on his way to being a business and is no longer a startup, unless he wants to go pan India. In this case there is a lot of work in branding, distribution, funding, manufacturing etc and it can take years to get this right before the buisness is running as a pan India concern. I would suggest it's a startup until it is through this stage and the pieces are in place and working.
@@nguyenly7895 it depends. If it's the same business i would say no. If it's a cab aggregator that pivots to make motorcycles or batteries like ola then probably yes
It would be an inspiration for many of us if you make a video about why you left your country and stayed in India and doing activities for Indian start-ups?
So, do you say that MSMEs don't have a scalable product or business which means that they couldn't maintain or grow their profits when the sales are increased? Please reply to this question
That MSME definition has been revised recently and now entities, be it in the manufacturing or in the service sector, having a turnover of upto 250 crores are categorised as MSME so technically all startups can be tagged as MSMEs
Even 12 years back, GoI was confused with definitions. For them all were same. Even today, people abuse VCs if they don't fund simple businesses like machine rentals or import business.
those companies whom are not going to show massive amount of growth in a short period of time like 300% in a. year or atleast 100% are startup besides that if a company is small and have the annual revenue of 10-20 million dollars should be considered msme. Most of SaaS should be considered as msme
I have a non startup msme that will also eventually create startup msmes. I've been reluctant to startup with the worry of blowing up on the way to reach the stars and so focused on a non startup msme.
“Not working towards innovation, developement or improvement, those shouldn't be called startups” so basically there is no startup in india. My question is ,why don't indian entrepreneurs think about innovation rather chasing money day n night?
Hain?? Agnikul, Paytm, Ola all were and still are in are innovative companies in more than one way. Without some sort of innovation you can't even scale. Moreover this idea that Vijay Sekhar goes to work because he is chasing money is actually childish.
@@yash_kambli Ark Investment is the world's leading Trade Fund that focuses solely on disruptive technology and they consider Fintech a major technology that will change our lives and in this domain India is LIGHT YEARS ahead from USA and China and we have done this without mass adoption of Crypto coins or scamming coins. All thanks to Paytm, PhonePe and UPI. Ola solved the mobility problem. You know the guy who put wheels on a suitcase and invented trolley bags didn't invent wheels or suitcases but what he did was still a huge innovation. Same thing with apple and touch screens. Ola and Paytm didn't invent phone or taxis or gps or e-payment but they put all these things together which is innovation. Also innovation gets copied,so if your ways are being copied you can be pretty sure that you are innovating.
It's not like I'll go and start my own startup. One has to need more knowledge about building companies, he should have been worked in alrdy successful companies so that he knows the recipy to cook a profitable company.
Hm... that's a good question! We currently probably fit more closely with the MSME definition honestly. We have plans to innovate and disrupt but are currently facing some issues with pursuing that due to a bottleneck. Will eventually be in the MSME Startup category once we are able to get past this though! -Caleb
Hi Akshat, I'm originally from Canada, but have been living in India for 5 years now. Watch this video to learn more about me and the story of BwM: ua-cam.com/video/KjySP-7acyY/v-deo.html -Caleb
Premier is a good way to create hype !!
The consistency is amazing !
Thanks Yash! We're trying hard to bring you and the rest of the BwM audience videos that we think you'll learn a lot from and enjoy 🙂 -Caleb
Startups are awesome because they create new markets or completely change old ones by putting out products, services, and ideas that can change the world.
Really great video much needed.
This was a great video...Thank U a lot!
Informative 👍👍
Genius work, you guys
Rocket ships & Plane analogy is just awesome.
I am going to use it from now on.
Here is my definition that has been always around in my head - Any businessl which is based on a technology that has never been tried before atleast in a particular region and has a potential to scale rapidly is a startup.
But I guess there will be no correct definition. There are some type of companies that you missed for example some companies which are backed by Angel investors and VCs, but there only job is to do very high end research in a particular field with no hope of turning profits for next 10 years.
Moderna & BioNtech are a couple of good examples.
But there are also a couple of other companies in Israel, California & India.
How will these companies be classified.
But lack of definitions and standards doesn't scare me on the contrary this is what is so exciting about observing free market.
This is why I watch channels like yours and read business papers and one day when I will have somethings of my own will actively engage in this field.
Interesting take! It's fascinating to see so many definitions and there's no clear line between MSMEs and Startups. As you mentioned about the rocket ship analogy, I would say, If a business idea is very clear like in terms of manufacturing or services and you need funds to go ahead, then I would term that as MSMEs. On the other hand, if an idea requires product development, R&Ds, testing and debugging, validation, etc. then I would say it needs to be considered as a Startup regardless of the total employees, culture, etc. I may be wrong, what do you guys think?
But then manufacturing requires R&D as well.
I think government has done a god job defining startups, considering all the important points :-
1. R&D
2. Scalability
3. Massive Employment opportunities.
All businesses require adaptation as you mentioned but what essentially makes atrtups different is blasting like a rocket analogy.
As informative as ever
I have started my startup or msme whatever it is idk, it is a platform for early stage startups or msme (idk again) to build their mobile apps using there existing web apps.
Details please
@@Dhirendrashastrisarakar hi
@@Dhirendrashastrisarakar yeah sure , let's talk about this.
Need to come to bangalore and spin up a startup!
It was about time that we double clicked on the definition of startup. Companies like Zomato or Ola should not call themselves a startup. For me a startup is a company where the executive team/C-suite gets their hands dirty and interact actively with all the team members irrespective of their band or designation. I feel that bigger companies call themselves "Startups" just to justify the chaos, lack of processes and the hustle culture. I strongly feel that the bureaucracy exists only for the unnecessary. Also, is imperative that any company that wants to exist long-term aims for constant innovation and scalability.
P.S. I love hot chips too. Haha
I am a startup advisor, and we have our own criteria,
1. Ecosystem Disruptor
Ola upended the taxi
Amazon upended the books
Netflix closed Blockbuster
2. Desire to be Number 1 in the chosen industry. (Let us say they are trying to be in a niche market, no. 1 in that segment of the industry).
Tesla - No. 1 in EVs
FB's desire to be No. 1 in social media undid Orkut and MySpace
Of course, we want to see the strategy backing their desires and plans. But yes. for us these two are important.
If you are doing something someone else is doing fine, but can you do it better than them. Like, google vs yahoo. That is what we look at.
Startups are something which itself is a product that can be sold in future.
Along with selling their products and services, startup founders also focus on nourishing that startup to become a perfect product for sale. which they can sell in future either to venture capitalists, bigger companies or to public via IPO.
On the other hand, non-startup MSMEs only focus on selling their products and services.
Great 👍🏻
Well I think you need to look at the term start up. It means there is an expectation of going someplace. Once you are on the way to the destination, you are no longer a startup. Prior to this, you may be changing business models, product adjustments, funding etc, and are definitely a startup. In the case of the msme chip guy, once he has a shop, fryer, recepie customers and materials he is on his way to being a business and is no longer a startup, unless he wants to go pan India. In this case there is a lot of work in branding, distribution, funding, manufacturing etc and it can take years to get this right before the buisness is running as a pan India concern. I would suggest it's a startup until it is through this stage and the pieces are in place and working.
If a company run their business over 15 years. Are they a startup or small business? I’m really don’t know
@@nguyenly7895 it depends. If it's the same business i would say no. If it's a cab aggregator that pivots to make motorcycles or batteries like ola then probably yes
It would be an inspiration for many of us if you make a video about why you left your country and stayed in India and doing activities for Indian start-ups?
Here you go FreshFast! ua-cam.com/video/KjySP-7acyY/v-deo.html -Caleb
So, do you say that MSMEs don't have a scalable product or business which means that they couldn't maintain or grow their profits when the sales are increased?
Please reply to this question
😊👍
😊👍🏻 -Caleb
Nice
That MSME definition has been revised recently and now entities, be it in the manufacturing or in the service sector, having a turnover of upto 250 crores are categorised as MSME
so technically all startups can be tagged as MSMEs
313k subscribers congrulation
Even 12 years back, GoI was confused with definitions.
For them all were same.
Even today, people abuse VCs if they don't fund simple businesses like machine rentals or import business.
Perf 🚫🧢
PLease update the definition of MSME
those companies whom are not going to show massive amount of growth in a short period of time like 300% in a. year or atleast 100% are startup besides that if a company is small and have the annual revenue of 10-20 million dollars should be considered msme. Most of SaaS should be considered as msme
I have a non startup msme that will also eventually create startup msmes. I've been reluctant to startup with the worry of blowing up on the way to reach the stars and so focused on a non startup msme.
There are Two type of startup :
1. solve problem
2. create problem
Startup is not about the size and scalability it is about the disruption and finding new markets
Startup itself, 'who Iam'.😁 Haha
A startup !
“Not working towards innovation, developement or improvement, those shouldn't be called startups” so basically there is no startup in india.
My question is ,why don't indian entrepreneurs think about innovation rather chasing money day n night?
Hain?? Agnikul, Paytm, Ola all were and still are in are innovative companies in more than one way. Without some sort of innovation you can't even scale.
Moreover this idea that Vijay Sekhar goes to work because he is chasing money is actually childish.
@@abhishekdev258 agnikul? YES
But ola, paytm?? Later didn't do anything to be called as innovative. Those two are still service based companies.
@@yash_kambli Ark Investment is the world's leading Trade Fund that focuses solely on disruptive technology and they consider Fintech a major technology that will change our lives and in this domain India is LIGHT YEARS ahead from USA and China and we have done this without mass adoption of Crypto coins or scamming coins. All thanks to Paytm, PhonePe and UPI.
Ola solved the mobility problem.
You know the guy who put wheels on a suitcase and invented trolley bags didn't invent wheels or suitcases but what he did was still a huge innovation. Same thing with apple and touch screens.
Ola and Paytm didn't invent phone or taxis or gps or e-payment but they put all these things together which is innovation.
Also innovation gets copied,so if your ways are being copied you can be pretty sure that you are innovating.
India need MSME more than Startup, as we are still manufacturing economy
Core difference between MSME and startups is the people behind it. MSME aim for profits, startups aim for value creation.
It's not like I'll go and start my own startup.
One has to need more knowledge about building companies, he should have been worked in alrdy successful companies so that he knows the recipy to cook a profitable company.
How will you classify BWM?
Hm... that's a good question! We currently probably fit more closely with the MSME definition honestly. We have plans to innovate and disrupt but are currently facing some issues with pursuing that due to a bottleneck. Will eventually be in the MSME Startup category once we are able to get past this though! -Caleb
I have just realized that I´ve been thinking to work as an MSMME whila I always have been creating a StarUp Hahhah 🙂
Indians First Must Learn What is Called Startup !?
Hi Ak Dream, did you watch the video? -Caleb
Better title: Do you know what a startup is? (Think again!)
Tried a new title, let me know what you think! -Caleb
@@backstagewithmillionaires Its great! I think putting TOTALLY in caps would be better than keeping wrong.
I think this guy primarily make video for india than comes where he is from?
Hi Akshat, I'm originally from Canada, but have been living in India for 5 years now. Watch this video to learn more about me and the story of BwM: ua-cam.com/video/KjySP-7acyY/v-deo.html -Caleb
whats the point of this video ?
To draw a line between MSMEs, startups, and big businesses. -Caleb
Wrong definition of msme actually old
Does a UA-cam channel qualify as startup? 😄
😂😂noo