Technology Driving Start-Ups towards the Growth Trajectory – Entrepreneur

Copyright © 2024 Entrepreneur Media, LLC All rights reserved. Entrepreneur® and its related marks are registered trademarks of Entrepreneur Media LLC
By Nishant Misra Nov 30, 2019
Share
Opinions expressed by Entrepreneur contributors are their own.
You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.
Whether you’re a start-up entrepreneur or testing the waters before venturing into the market, technology can be your biggest asset in this journey. Especially in an economy like India where there is a huge pool of opportunities, even the government is pushing forward its “Start-Up India’ policy. And, the only way to succeed in the web of endless competition seems to be the optimal and sustainable use of technology.
Traditionally believed to increase the productivity for any start-up, most diligent entrepreneurs believe the emerging tech tools help to map the market trends and align their policies for sustained growth. Hence, it is critical both from the perspective of customer experience and brand image management that technology becomes the basis of any decision-making.
The Emerging Tech Trends in Up and Coming Businesses
From Internet-of-Things, artificial intelligence, blockchain to data analytics, the influence of technology in shaping growth trajectories for start-ups spans across sectors. One of the reasons for tilting the needle in favour of technology is rapidly changing customer behaviour. The millennials, today, are looking for instant gratification and shorter turnaround time. With such a huge young workforce, the demand-driven segment needs effective tools to meet the ever-increasing needs of the consumer.
Giving birth to endless opportunities, technology has enabled smartphone users to meet their needs with a single click. Although there’s no dearth of online platforms providing numerous choices, the real winner will be the one that can retain a customer’s interest. Because the interest span is shrinking, it’s imminent that an entrepreneur invests in firstly understanding the market size and customer reactions to their product. Following well-focused research, CEOs can align their market strategy to expand their presence in the market. And what’s enabling an entrepreneur in understanding and strategizing is technology.
A Case in Point
For nearly a decade now, online shopping has been making whirlwinds in the retail sector of a country such as India where traditional marketplace have been the go to for the population. This has been possible with transformational nature of data and technology which has in turn powered budding entrepreneurs to create big leaps in the retail space. Entrepreneurs in the retail tech space are eyeing for more than online presence, there is an emerging trend of transcending the boundaries by becoming omnichannel players.
Co-founder & CEO, Grubox
Self-esteem can be hard to come by and even harder to maintain. To give yourself a boost, try these authors' words of wisdom.
We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.
While the startup ecosystem tries to leave the funding winter behind, the AI startups and investors are having a pleasant time
The cost disparity poses a challenge to the widespread adoption of green hydrogen, especially in sectors where cost competitiveness is crucial.
Starting a business is hard work to say the least. These are four lessons I wish someone had shared with me before going solo, so I'm here to share them with you.
Nic Beique asked his local barber, gym and more if they'd like him to build a website for their businesses.
Successfully copied link
We'll be in your inbox every morning Monday-Saturday with all the day’s top business news, inspiring stories, best advice and exclusive reporting from Entrepreneur.
Copyright © 2024 Entrepreneur Media, LLC All rights reserved. Entrepreneur® and its related marks are registered trademarks of Entrepreneur Media LLC

source