This blog will help you to learn how you can start your business.
“Ideas are no one’s monopoly. Think big, Think fast, think ahead – Dhirubhai Ambani, Reliance Industry”
What you will get from this blog: How to Start a business; The best Business idea under a lakh; Mistakes by Entrepreneurs
How To Start A Business
Before starting a business you need to have a business plan which shows what kind of business best suits you. Most people think all they need is an amazing business idea but that is gibberish. I believe you don’t need amazing business ideas to start a business. Your first priority should be to understand what the customer wants. You need to think like a customer about what problem the customer is facing.
You are not a businessman or Entrepreneur, understand consumer behaviour. Then you need to make your product pocket friendly in view of the fact that you are selling your product in the Indian market. Further, you need to consider the sourcing of the capital required to establish your business, the rate of cash burn, and from where you would arrange funds.
Many people think of taking loans from the bank or investor to start a business, that’s unintelligent. It’s always better to use your savings or if you haven’t saved up yet then start saving now. Share your idea with other entrepreneurs or businessmen.
You need to discuss your business idea with other successful entrepreneurs near you. They may be your friend, family member, or any other entrepreneur. You would be thinking about why I am saying this. By doing so, you will get to know their point of view or what things you were missing on. It’s a myth that great ideas are stolen.
10 Best Business Ideas Under A Lakh
1. Pest Control
You can start your own pest control business under 1 lakh. You can start this from your home.
2. Dry Clean Store
You can start this incredible business under 1 lakh. All you need is a room, 2 washing machines, a big iron to press your clothes, and some packing material.
3. Content Creation
We live in a digital era where you can start making content on YouTube. Content creation is the biggest business in the present world. Do you know? We have 3 billion social media users on the internet and Almost 5 billion videos are watched on YouTube in a single day!
4. Blogging
You can also start your blogging website. All you need to select a niche and start a writing blog. You can start on a blogger or WordPress.
5. Affiliate Marketing
You can start an Affiliate Marketing business under a lakh. Do you know? 8% of companies use it. Affiliate Marketing to sell their products online. Some examples- Amazon, Flipkart, and Google.
6. Cloud Kitchen
You can start your cloud Kitchen or Tiffin under a lakh. This is the best business you can do these days as most people want instant ready to eat food for less price.
7. Dropshipping
A traditional idea to start online under a lakh.
8. Social Media Marketing
You can start your social media marketing page to earn money. All you need to select a niche and start working on that you can use various platforms to start with like Facebook, Instagram, and telegram.
9. Computer Repairing
You can easily learn computer repairing and start this business as people aren’t technology-friendly yet.
10. AC Repairing
This is a seasonal business. All you need is equipment, one helper, and knowledge to operate the equipment.
Common Mistakes Entrepreneurs Make
There are a few common mistakes every entrepreneur makes after starting their business.
1. Re- Investing
After earning money from their venture. they start taking out money for their personal use or leisure which is one of the biggest mistakes. What you need to do is to Re-invest in your business and make it a successful venture leading to its growth.
2. Finding Partners
Most people think they need partners or help to start their business. All, you need to do by self only no one will help you or show their interest to help you out. You need to trust yourself and start doing it.
Conclusion: Make your business plan solid proof, conduct proper research, start your own business. Best of luck.
Some FAQs To Help You
1. How to start a business with no money?
This is not possible. You need some amount of money to start a business.
2. Best business after COVID-19?
Content creation and Content Writing is the best business after COVID-19.
3. How to do pocket-friendly marketing?
Do Digital marketing instead of doing traditional marketing. Hire a professional digital marketer for this.
Top 5 Indian Business Tycoons
1. Mukesh Ambani, Owner, Reliance Industry
2. Radha Kishandhamani, D-Mart
3. S.B. Adani Family of Adani Trust
4. Ratan Tata, Tata Company
5. Shiv Nadar, HCL Technologies