Suhas Deshpande
Suhas Deshpande

The odds are stacked against the average startup: approximately 90% of startups fail.

But yours doesn't have to be among this 90% number. By understanding the complexities of building a successful startup and learning from the proper guidance, you can defy the odds and succeed in your endeavor.

Throughout his work, software engineer Suhas Deshpande has come to identify the common pitfalls of startup development and develop key strategies to solve them — even avoid some altogether. Having joined Courier (an all-in-one product notification platform for developers) during its initial stages, he's played a crucial role in its growth and success.

Learn more about the common drawbacks startups face and how Deshpande addresses them.

The High-Stakes Nature of Startups

Startups often face an uphill battle as they attempt to get noticed amidst a sea of established businesses. Differentiating a product or service in such a crowded marketplace is a Herculean task that requires strategic foresight.

Furthermore, startups often deal with financial strain as they struggle to secure funding that will sustain long-term growth, and the high costs associated with business development put immense pressure on fledgling startups to achieve profitability quickly.

These challenges and others contribute to a high failure rate among startups, making business creation a daunting venture. Fortunately, experts like Suhas Deshpande understand these challenges and can offer valuable insights that you can leverage to build a resilient and competitive startup.

Actionable Strategies for Startup Development by Suhas Deshpande

Suhas Deshpande's involvement at Courier provides profound lessons for aspiring entrepreneurs. At Courier, Deshpande led the development of a modern notification system that positioned the startup as a market leader, enabled the company to deliver over millions of notifications monthly, and substantially increased its annual recurring revenue as a result.

It was through this experience that Deshpande became intimately familiar with the dynamics of a startup, recognizing key strategies essential for one to thrive.

Tackle Practical Solutions

Deshpande believes that startups must approach their work from the perspective of solving real-world problems and creating products or services that target genuine pain points.

This strategy is how startups can develop empathy-driven and customer-centric solutions, ensuring that the business evolves in line with user expectations. Furthermore, by understanding the market's frustrations, you can establish your company as the ideal solution, increasing your chances of long-term success.

Be Clear About Your Business

Deshpande emphasizes the importance of clear communication with customers — both in direct communication and in how your customers perceive your business.

"A lot of the time, different startups are building the same products," Deshpande says. "They're both doing the same thing, but one is hyper-successful, and the other is not. The difference is how you talk to your customers."

That's why Deshpande stresses the need for effective communication to build awareness and establish a strong brand image. This involves clearly articulating your value proposition, understanding customer feedback, and refining your messaging to better resonate with your target audience. These are crucial aspects that build trust, which is a foundation for customer adoption and loyalty.

Embrace Continuous Development

Staying relevant in the tech industry requires a willingness to embrace change and continually seek better ways of doing things. That's why Deshpande advocates for a mindset of unlearning outdated practices and adapting to new methodologies. This allows you to remain agile and responsive to evolving market conditions and builds resilience against industry disruptions, directly impacting your startup's longevity.

Learn from a Leader in Your Field

Startups are essentially experiments, and mistakes are common in experiments. But Deshpande has identified a way to mitigate errors and accelerate professional growth: mentorship. "In any field, having a mentor allows you to bounce ideas off them and learn from their costly mistakes," he says.

"If you don't find a mentor or if you don't have the right mentor, then you're going to make expensive errors," he warns. For him, mentorship provides a crucial avenue for aspiring entrepreneurs to learn from the experiences of others. It helps them sidestep pitfalls and better organize their resources — whether technology, funds, or people.

This realization has driven him to become a mentor himself. In his role as a mentor at First Round Capital, Deshpande is committed to nurturing the next generation of tech leaders and entrepreneurs. His guidance extends beyond technical expertise to encompass career advice, decision-making, and personal development, empowering mentees with confidence and resilience.

Build Your Startup for the Long Haul

Understanding the intricacies of startup success isn't just about avoiding failure; it's about building a foundation that can withstand the challenges of a volatile market, moving your startup from zero to one. By leveraging these strategies shared by Suhas Deshpande, you can enhance your chances of success and ensure your startup remains competitive and impactful in the long run.