The Quora Community Discusses Inspiring And Successful Business Models For Startups

Do you have a startup in mind and looking for all the help you can get? Or, are you an investor that is intrigued by the notion of startups? If so, the

Quora community has a new thread that would be of interest to you. A Quora user asked the question, "What are some inspiring and successful business models of startups." Here is a summary of some of the more insightful answers. User "Vaibhav Domkundwar" boasts having 15 years of experience in multiple startups and being an angel investor in 12 others. He suggested that an inspiring entrepreneurs follow the business model used by recent successful startups. For example Wordpress became the most used CMS in the world by giving away its software and beating MovableType. Or, Uber's business model of bringing efficiency and scaling the experience for drivers, passengers and Uber itself. User "Geeta Vemuri" answered simply, "The most successful startup model I have seen and that I have personally validated- is working backwards. Begin with customers I.e. wait listed customers or letters of commitment, then build MVP , onboard users , then raise funding if needed." Finally, user "Reshma Patra," Founder and CEO of GladEngage offered a 3-prong approach to answering the question. 1. "Execute multiple 'sustainable revenue streams' from Day 1 of Startup launch." 2. "Build strategic partnerships with competitors / bigger companies doing similar, but slightly different thing as your own Startup." 3. "Innovate in an existing industry. Dominate small markets, before even thinking about 'scaling.'" Patra also suggested that a startup avoid hiring employees until the company reaches a specific milestone in sales.

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