How to build your dream team?

Entrepreneurship 101 is a series on the ‘human’ aspects of entrepreneurship. Through this series, YourStory will share ideas, suggestions, references, and examples to help you reflect and tread the entrepreneurial path smoothly.

Wednesday April 13, 2022 , 3 min Read

Hello Readers,

In 2013, a study pointed out that 60 percent of startups fail due to poorly constituted teams. We are in 2022 now, and although technological advancements have changed the world as it was, this fact still stands true — people are the backbone of every organisation.

Thus, good teams can make or break a startup.

In 2020, when the COVID-19 pandemic forced employees to work from home, companies faced challenges like never before. There was fear that lack of face-time would mean less collaboration, irregular communication, and unequal work distribution — all of which would ultimately lead to unhappy teams.

The pandemic forced managers to think outside the box. Communication had to be seamless, the collaboration had to work across functions, and more importantly, team members needed to stay engaged in the work, as well as themselves.

Sufficed to say, team management has undergone many changes. So, what are the best practices? Read our latest Entrepreneurship 101 feature to find out.

The Interview

YourStory’s ‘I am the future’ series puts the spotlight on successful women leaders at Infosys.

Dr Hema Prem Rainaa, VP - Insurance, Europe, Infosys, shares her milestones, learnings, and challenges. She also speaks about the experiences and early influences that helped her develop a resilient and fierce personality.

Editor’s Pick: Product Roadmap

In this week’s Product Roadmap, we feature deep-tech wellness startup WELLNESYS, whose AI-powered flagship product YogiFi enables an interactive and immersive yoga class experience anytime, anywhere.

The smart and eco-friendly yoga mats are sensor-equipped, designed to be paired with the mobile app — available on both Android and iOS — and are Bluetooth and WiFi-enabled. Read more.

Startup Spotlight

Two-wheelers’ maintenance services at your doorstep

Among the numerous startups solving for the home services hyperlocal space, Shishir Gandhi and Prabudh Kakkar were keen to solve automobile-related problems. The duo spent a year experimenting and understanding challenges faced by customers and service providers.

In July 2017, the duo launched the B2C startup GarageWorks, which leverages tech and data to standardise services and deliver a superior experience to two-wheeler owners – at their doorsteps. Read more.

News & Updates

Social ecommerce unicorn Meesho recently announced it’s letting go of 150 employees from its grocery arm. Further, it plans to rebrand its grocery division from Farmiso to Meesho Superstore.

The new economic cooperation and trade agreements with Australia and the UAE will "open infinite opportunities for the textiles, handloom, and footwear sectors," said Union Minister Piyush Goyal.

Uniswap Labs, the developer of the Uniswap DeFi protocol, announced the launch of its venture capital unit— Uniswap Labs Ventures (ULV). The new division was launched in an effort to support Web3 enterprises.

According to a CoinShares report, the week through April 8 saw the largest net outflows of a net $134 million from institutional crypto investors since January 2022, as negative regulatory environments in Europe and India, lower trading volumes and a high Bitcoin valuation.