THE 7-STEP STARTUP SUCCESS FORMULA - DR. ANU KHANCHANDANI
Every entrepreneur’s journey is a mix of failures and successes. The probability of failure is higher, however, there is a way to grow and keep growing until you build a successful startup. This book is one such guide to help you with 7 formulas for your success.
Transcript
Today’s story is about Dazo, an Indian food-tech startup that entered the market with promise but collapsed within just two years. Let’s uncover why.
- Dazo, formerly known as Tapcibo, aimed to be the ‘food delivery for the busy urban professional,’ offering a curated menu of quick meals.
- They launched in 2015 during the food-tech boom, alongside competitors like Zomato and Swiggy.
- What went wrong? Overconfidence in a niche market. Dazo believed its curated approach would differentiate it but underestimated the need for variety and flexibility.
- Additionally, their reliance on high customer retention, without strong user acquisition, proved fatal when competitors offered broader choices and faster scaling.
- Lesson Learned: Overconfidence in a niche can blind you to evolving customer needs. Always stay adaptable.
Dazo’s downfall is a stark reminder to test, listen, and pivot. Your startup’s survival depends on how well you align with customer expectations.
Let’s ensure your business adapts to market demands. Book a consultation at www.thegreycells.com
With over two decades of experience in the software technology arena, having worked in multinational and SME companies in India, USA and Singapore in the capacity of programmer to CTO – I felt now was a good time to give back to the world what I have learnt in this journey. Even if it ends up benefitting a few of my readers by giving them insight or solving a technical issue, I think I will have achieved my mission!