Start-Ups Must Be Socially Beneficial

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Start-Ups Must Be Socially Beneficial
J S Broca, Teacher, India

Start-ups are generally associated with high growth, technology oriented companies in which investors are interested due to their risk-reward profile, low costs, higher risks and high potential for ROI (Return on Investment).
Merely having an idea up your sleeve is not sufficient. Its commercial potential has to be seen. Rarely we come across start-ups which yield huge returns to their creators and investors - such as Google.
What is more relevant in today's times is that start-ups must be socially beneficial. If a start-up is successful in raising the standard of living of the common man, I feel it has served its purpose.
Mohammad Yunus' Grameen Bank project which won him the 2006 Nobel Peace Prize indicates that to be successful, a really useful start-up must be low cost and have the ability to transform lives and resolve social inequities in our society.
I am also reminded of Warren Buffet's recent letter on Berkshire Hathway's website, where he offers two good lessons for start-up ventures:
A) Converse like a real human being
B) Admit mistakes and move on.



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