7 Stages for Developing a Successful Startup

4 min readJan 6, 2022

In today’s ever-growing and ever-changing world, the pressure of creating something unique is a lot to take. The challenges and difficulties are constant. But if you are confident enough and have the right tools to start, there is no stopping until you reach your desired level of success and even more!

I had a chance to talk to Dr. Ritesh Malik, a doctor and a successful businessman who not only invested in as many as 26 startups but also co-founded companies like Guerilla Ventures, ALIVE, and Innov8. To add to this, he was listed on the Forbes 30 under 30 in the Finance and Venture list (Asia) 2016.

In this session of Figuring Out #AajwithRaj, he talks about his journey on building a thriving business and shares his ideas and values with our listeners.

Here are some of the ways which can make your startup a successful one:

1. Have a workspace that is fun and offers excellent opportunities

To create something unique, one needs to have space that is helping the ideas get the shape and an environment that allows the workforce to enjoy what they do.
The office spaces should be catering to the needs of the employees. In such a fun work environment, ideas and innovations will never be hard to implement.

2. Keep your approach optimistic and be flexible with the changing times

Amidst this raging pandemic, it might get difficult to focus on the brighter side. But to build a successful business, you must always keep an eye on the silver linings.
Any such setbacks are nothing but opportunities to upgrade your skills and get ready for upcoming challenges.

3. Have a value system

Values like trust, reliability, and credibility are the basics of building a successful business. Building trust with your clientele and delivering the best of your services is vital. There is no other way about it.
In order to remain relevant in the market, consistency is something that budding entrepreneurs need to have. These values ensure that you are unwilling to compromise with your business and get better with each passing day.

4. Be precise in your purpose

If you want to create something, step out of your comfort zone and get going. The ideas that have been sprouting in your mind need to be executed sooner than you may realize.
Sitting on an idea for far too long and waiting for the ‘right time’ will not do any good to you. Your purpose needs to be clear and precise, and once you know what to do, there is no point in waiting. The time is now. Take the jump.

5. Find your Passion

How strongly you feel about your purpose depends on how far you are willing to go in achieving it. Passion is something that cannot be forced on someone. It is for you to discover, polish, and act upon.
These are a few of the questions that will let you self-reflect and help you figure out what you are passionate about!

What do I want to do?
What do I do well?
What would people pay for?

Your answers to these questions will clear many things and help you define the path you are willing to carve for yourself.

6. Grit and perseverance lead the way

The most critical step in building a successful company is just to start. If you act too safe, there is a chance you might not end up where you expect. The idea is to dive all in because only then will you be able to focus on achieving your goals.
Quit your current profile if it hinders your path of becoming something else. Instead, start right away and let your grit and perseverance be the light that guides your way. Be limitless.

7. Stay informed and ahead of the pack

In the changing times, the demand for various professions increases or decreases, making it the ‘big thing’. I feel now is the time where entrepreneurs are leading the market and adding valuable contributions to society. But a time is not far where entrepreneurship will take a back seat and pave the way for the next big thing.
To figure out the professions or industries that will lead the markets in the coming times, you need to stay informed. So, to gather resources, read about things happening around the world, where the global economy is shifting, what industries are dominating the markets, and many such things.
These researches will help you to not only stay ahead of the pack but also lead them.

I had a very informative session today, and while I think starting a business is a mammoth task, it is not impossible if you once make up your mind and work tirelessly towards your goals.
The little and positive changes that you can inculcate in building a successful business will take you to places and help you lead the life you desire. So believe that nothing is impossible, and with courage and confidence, you can reach the heights of success.

To listen to this podcast, click here.