This weekly quiz from YourStory tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 30th edition of the quiz, we present issues tackled by real-life entrepreneurs in their startup journeys.
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What would you do if you were in their shoes? At the end of the quiz, you will find out what the entrepreneurs and innovators themselves actually did. Would you do things differently?
Check out YourStory’s Book Review section as well, with takeaways from over 330 titles on creativity and entrepreneurship, and our weekend PhotoSparks section on creativity in the arts.
Q1: Digital engagement
Companies must meet and engage with customers wherever they are, on social media or messaging apps. All communication channels need to be leveraged, from websites to email. But it’s not enough to have multiple digital touchpoints. What’s the key step to leverage all these insights and channels?
Q2: Digital content
Humour, self-help videos, cooking tips, music, and games are popular forms of digital content that can go viral. Repurposed content from movies and broadcast media also work well. What’s another category of digital content that is taking off?
Q3: Dealing with failure
Success begets more success, but failure is an obstacle for many an entrepreneur and innovator. There is also personal discomfort and social stigma associated with failure, in many societies. So how can this fear of failure be tackled so that growth occurs in future?
Q4: Family and friends
Family and friends are often the first to offer support and encouragement for founders and creators as they start off on their entrepreneurial journeys. However, there are limits to these kinds of inputs. What are the limits, and how can they be overcome?
Q5: Environmental sustainability
Reducing waste and recycling materials are important components of environmental sustainability. But it would be even better to give back to the more environment more than you take from it. How would this work, for example, in the case of water consumption and replenishment?
Answers!
Congratulations on having come this far! But there’s more to come – answers to these five questions (below), as well as links to articles with more details on the entrepreneurs’ solutions. Happy reading, happy learning – and happy creating!
A1: Digital engagement
“We believe brands need to have a unified view of their consumers across all channels and digital touchpoints,” explains Nishant Jain, Chief Strategy Officer and Head of M&A, Netcore Cloud. The company is building a multi-product full-stack mar-tech platform for brands to communicate, engage, and retain their consumers better.
Since 2019, the company has acquired Quinto.ai (conversational AI platform), Boxx.ai (AI-first omnichannel personalisation and recommendation engine), and Hansel.io (real-time no-code, product experience platform). Read more about its integrated tool capabilities here.
A2: Digital content
“Webtoon platforms have become an explosive phenomenon across Asia with top webtoon apps cumulatively reaching over 70 million monthly users and over a 100 billion views a year,” according to Sharad Devarajan, Founder, Toonsutra.
The startup was incubated at the character entertainment company, Graphic India. The platform aims to help creators create webtoon (web cartoon) comic stories and digital collectibles. Target genres include superhero, fantasy, romance, sci-fi, Bollywood, mythology, and action. Read more of the webtoon opportunity here.
A3: Dealing with failure
“Even though we are surrounded by our own people all the time, we still might not find the right person to talk to and resonate with, or share our agonies without any hesitation,” explains Rahul Mohanty, Co-founder of Failtell.
The online platform helps users discuss failure stories and overcome emotional challenges and personal issues. This can help spur emotional and professional growth through community connections and support. Read more about how this online platform can tackle the stigma associated with mental health here.
A4: Family and friends
“Everyone at home will tell you that you’re good, but when you put your content out there, you’ll know if you’re going the right way,” advises Khushaal Pawaar, an actor turned content creator. He started creating and putting out content during the pandemic when many shootings were cancelled.
More YouTuber tips on audience validation are offered here. “A content creator needs to get into their audience’s shoes and create content that is relevant,” according to Shruti Arjun Anand. “A content creator has to develop gradually and be consistent in new concepts for gaining audiences and also remain relevant,” adds Payal Dhare.
A5: Environmental sustainability
“The Bangalore Airport campus became water positive from 2019. This means the rate of replenishment is more than the consumption rate,” explains Hari Marar, MD and CEO, BIAL. The airport aims to consume water responsibly, draw on renewable energy, and reduce waste through recycling and reuse.
“Initiatives like ground recharge, lake recharge and integrated management of liquid and solid waste to avoid groundwater contamination have improved water resources,” Hari explains. Read more about its low-water consumption fixtures, smart systems, and rooftop rainwater harvesting units here.
YourStory has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).
Edited by Teja Lele Desai