Category: Startup

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Startup

Myths Around Startups: Here Are 3 Popular Myths Which Every Entrepreneur Should Ignore

Startup
Startup (Photo Credits: Pixabay)

Mumbai, December 7: No doubt, starting a company is not an easy task, but with the right strategy, the correct focus, good funding, one stands a chance to succeed. There is a lot of glamour associated with startup and many have the notion that it is all about young, bubbly, and vibrant talent.

There are certain myths about startups and we try to bust them for you.

You need huge funding to start a startup: This another big myth. According to experts, in order to burst the myth, one should adapt to the practice of bootstrapping, which allows maintaining full control of the startup strategies, avoiding time delays and energy spent to attract investors and retaining maximum equity.

It is extremely difficult for startups to compete with big established companies: You need to identify the advantage which you have as compared to a biggie in the market. For e.g. Being a startup, you’re less likely to experience the bureaucratic drama that is involved in the whole process. This not only allows you to be more flexible but gives you a lot of creative freedom.

Yes, a startup can’t compete with a corporate big shot in terms of the budget, but you can identify your niche and focus only on that. Your spending will be more focussed.

Ideas Make a Startup: Yes, a good idea will help you to stand out. But, it is no the only guarantee for a good startup. There are numerous e.g.s like Facebook, Google who didn’t come into the market with an innovative idea. These ideas were tested before as well. However, the reason why they became successful was because they built a great product.

 

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Startup

Creative Businesses: 5 Viable & Budget-Friendly Start-Up Ideas for People With Creative Mind

Start-up ideas for creative people| Representational Image (Photo Credits: Pixabay)
Start-up ideas for creative people| Representational Image (Photo Credits: Pixabay)

Businesses are widely undertake, operated and promoted to make profits and get a regular and consistent stream of income. Enterprises mostly aim at maximising the shareholder wealth by generating huge revenue. However, not all the businesses have profitability as their prime and sole objective. There are several people who have entered the start-up ecosystem to fulfill their creative urges; they make their passion as their profession. The prime aim here is to live while doing what makes you feel content and earn some amount on the side for basic sustenance, and re-investing the remaining into the business growth. Here Are 4 Reasons Why Starting a Business From Home is Not a Bad Idea.

Such businesses do not require any huge fixed or working capital investments. There seed capital requirements are often lower than other profit-driven organisations. All the entrepreneur needs to have are skills, talent, creativity and dedication for building it and one can start the business any time. More and more people are converting their passion into profession, leaving behind the orthodox work style. Makeup Artist Business: Here Are 4 Things Which You Need to Remember If You Want to Establish Your Makeup Artist Career.

Here are 5 Start-Up Ideas for Creative People –

Interior Decoration

One of the most straightforward to unleash your creativity is to provide home, interior decoration services. All you need is an eye for beauty and aesthetics to get into the professions. Many new-home buyers who are bored of regular-cliched home designs and set-ups are increasing demanding interior decorator services. It does not require any qualification, except for having a strong sense of order- what looks good and where. An understanding of colours, textures and art is an added advantage.

Jewellery Making

Another well paying profession for creative people is jewellery making or designing. Beaded jewellery has become popular, all you have to do is collect some beads and other stones and have a sense of sequencing and colour scheme. Many people like to buy handcrafted jewellery as well, because of the uniqueness of the design and having a one-of-a-kind piece. You can make customised jewellery with name, initials, symbols inscribed for the user. It does not require an elaborate set-up to sell jewellery. You can start by selling it only and visit all crafts fairs to sell your jewellery.

Home Bakery

If you like baking and can spend your entire day seeing the dough fluff inside the oven, having a home bakery is the right thing to do. Baking is an art; it requires a proper knowledge of various types of flours, seasoning and flavours. Homemade cakes, cupcakes, cookies, chocolates, muffins are in huge demand. You can start this business from your kitchen itself.

Pottery Making

Pottery making gives you plenty of creative freedom. You can mold, twist, shape the clay in whichever manner you want. It gives a sense of authority over your creation. Pottery making is no longer limited to utensils or plants vases, clay products are among the highly sought after articles. From utensils to photo frames, show pieces, holders, name plate, clay products are in huge demand. With the growing environmental awareness and concerns, consumers are ditching plastics and turning towards more eco-friendly options, clay being one of them. However, it is a delicate work that requires special skills.

Blogging

If you have a knack for writing then blogging is the best profession to stick to. Unlike older days when writers were highly unpaid and unacknowledged, they are well-paid and recognised for their literary works. You can zero-in on a topic of your choice and expertise, pick up a pen or sit down with a computer and start writing your thoughts. Various online platforms provide opportunities to aspiring writers to publish their work. You can have your own blog as well. From hard articles, to fiction to poetry you have complete power to unleash your thoughts in whichever manner you want.

Earning while doing what you enjoy the most is the biggest satisfaction a person can get. So if you have enough skill-set and creative mindset then you can easily make a mark by starting-up a business of your choice with minimum investment and maximum contentment.

 

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Startup Strategy

Social Media Marketing: 5 Key Principles Every Start-Up Should Follow While Promoting Its Business on Social Media

Social Media principles all start-ups should follow| Representational Image (Photo Credits: Pixabay)
Social Media principles all start-ups should follow| Representational Image (Photo Credits: Pixabay)

A business is able to survive and sustain in long-term only if it creates adequate and apt awareness about the products and services it offers. Enterprises all over the world have been increasing investing in widening their market and customer base. One way of reaching out to the potential customers is through social media. According to Satistia, nearly 50 per cent of the world’s population uses social media. That’s over 3 Billion users worldwide. It has become indispensable for businesses, both established and start-ups to increase their social media presence and attract people. For start-up owners, creating an online presence should be of utmost priority. Each person spends an average of 2 hours and 22 minutes on social networks and messaging, as per Global Web Index.

Mere creating accounts on various social media platforms won’t suffice. Every start-up should emphasis in creating a comprehensive, well-researched and flexible social media strategy. Different social media platforms including Facebook, Instagram, Twitter, YouTube,  LinkedIn, among others have been proved useful in promoting, advertising businesses and generating awareness about the product. However, strategy should be in compliance with the functioning of the respective platform. 7 Strategies For Getting More Business From Social Media.

Here are 5 Key Principles all Start-Ups Should Follow While Promoting Their Businesses on Social Media –

Choose Your Platform Wisely:

All social media platforms have their own reach and users, however one should be careful in choosing the digital platform used to advertise the products. One may choose multiple platforms as well, but careful prioritisation will be needed in that case. Usually one should start with a platform he/she has complete knowledge about. For instance, if the start-up is youth-centric, one should go for a full-fledged promotion of Facebook and Instagram, both of which have huge young followers.  According to data 7 4 per cent of users check Facebook daily, with an average of 8 times a day. LinkedIn is a better platform to promote research-based or KPO-based products and services.

Post Attractive Context:

One of the most important elements of any marketing and advertising strategy is the content. On social media, especially content is the king. One should try and incorporate various multimedia components in the post. Making the content attractive and unique is important so that it doesn’t get lost in hundreds of things being posted online every second. Several multimedia elements like audios, videos, graphics, images, interactive media, infograms, GIFs etc can be used to make the content attractive. Avoid writing in bigger texts as no one on social media have the patience to read and respond to it.

Collaborate with Social Media Influencers’:

The biggest gamble in the social media game is to get followers, likes, shares and clicks. One of the tried, tested and easy ways is to collaborate with social media influencers and personalities.  According to Fourcommunications report, 49 per cent of consumers claim that they depend on influencer recommendations on social media to inform their purchasing decision. A consumer feels confident in the recommendation from an influencer, and he or she will be more likely to purchase the product. Top Trends To Remember Before Planning Digital Marketing Strategy.

Use of SEOs and Hashtags:

Making an account of social media and posting content is not sufficient, one’s content should be visible to the target consumers as well. Scores of content is being generated and pushed on various digital platform every passing second. It is therefore necessary to create SEO-compliant content. SEO or Search Engine Optimisation are basically those keywords that are most searched online. When someone tactically puts the SEOs in its content, the probability of it being fetched by search engine increases. Similarly the use of appropriate ‘#’hastags is also important while promoting posts on digital platform.

Social Media Analysis:

It is important to have a regular monitoring of the performance of various social media posts, so that the firm knows what the customers want. Several social media engagements including number of likes, shares, retweets, quotes, comments etc,. There are various tools that help to analyse the social media, for instance Google Analytics, Snaplytics, Sprout Social among others. It is important to keep a note of social media performance, and receive the policy as and when required.

Promoting the start-up on social media is the need of the hour. As more and more people are drifting away from physical market place to digital ones, robust and detailed policy on social media management is important. 321 million new people joined social media in 2019, which brought the total from 3.48 billion to 3.8 billion social media users (an increase of 9 per cent) in 2020, as per a recent data.

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Startup

Bakery Business in India: 4 Innovation Tips Which Bakery Business Can Use to See Success Amid COVID-19 Pandemic

Bakery
Bakery (Photo Credits: Twitter)

Mumbai, December 3: The coronavirus pandemic has affected all businesses across the world. However, this was also the time when we saw a rising demand for healthy and delicious bakery items as people remained confined to their homes.

There has also been a spurt in bakery businesses which people started from home. We have listed four innovation tips which bakery business can use to see success amid the coronavirus pandemic. Restaurant Business: Here Are 4 Tips to Run a Restaurant Business Successfully Amid COVID-19 Pandemic.

Add More Healthy Ingredients to your menu: Consumers have realised that since the majority of the time they are now working from home, they need to give attention to their health. There has been an increase in demand for healthy and functional bakery items like products which consist of multi-grains, nuts and other healthy products.

Market your business on all social media platforms: In today’s age and day, consumers will come to your brand mostly via social media. Therefore, it is very important that you have enough presence on all these channels. Put beautiful pictures of what you bake, entice the audience with them.

Increase engagement with your audience: You need to remember one thing that now due to the coronavirus pandemic, physical contact has become very less, therefore virtual contact needs to be increased.  Stay in touch with your customers and interact with them to create a good brand recall.

Pay attention to hygiene and packing: Hygiene is one of the most essential things when it comes to food and it has become all the more necessary amid the coronavirus pandemic. Don’t compromise on the quality of the ingredients being used. The packing also needs to be professional.

 

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Startup

Restaurant Business: Here Are 4 Tips to Run a Restaurant Business Successfully Amid COVID-19 Pandemic

Restaurant
Restaurant (Photo Credits: Pixabay)

Mumbai, December 2: Restaurant business is one of the toughest businesses to break into. In spite of that, there are thousands of new restaurants are coming up every year. There is immense competition in this space and therefore there are certain things where attention needs to be given.

Restaurants across the country suffered severe losses as they had to be closed due to the coronavirus induced lockdown. Today, as the rules have relaxed and respective governments have allowed them to open, but there are several restrictions that need to be followed. Catering Business in India: 6 Quick Tips to Boost Sales, Attract New Customers & Stay on Top of Customer’s Mind.

We have listed a few tips which can help you to run your restaurant business successfully:

You should be a master at what you are selling:

You should know the food at the back of your art. Customers need to be served good food. No matter, how fancy your restaurant is and you may hire the best chef as well, but if your food is not up to the mark, customers won’t come to you.

Take care of hygiene:

This has become an important point more so amid the coronavirus pandemic. Take utmost care of frequently sanitizing the items and also the place. This will make the customers confident about visiting your place.

Take care of your customers

Along with providing good food, great service goes hand in hand. In today’s age and day, you can’t afford to make your customers unsatisfied. Treat them well, take care of their minute details, remember their special days and make their feel special. Remember, customers are spending money to avail your service, so you should be doing full justice to it.

Update Your Menu

With numerous cuisine coming into place and thanks to Youtube and other social media channels, today a customer is extremely educated and much more aware of different cultures. So, if you are planning to cater to a diverse crowd, it is very important to update your menu with new cuisines. This will not only add a new element but will surprise your old customers as well.

 

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Startup

Here Are 4 Kinds of People To Avoid When Starting a Business

Startup
Startup (Photo Credits: Pixabay)

Mumbai, November 30: Starting your own business is not as easy as it sounds. There are several factors which need to be considered and they need to fall in place for the proper functioning of the business. When you start a business, it is very important to be in the influence of people who will have a positive impact on you, rather than demotivate and pull you down.

The entrepreneurial journey is extremely satisfying,  but there are several challenges on its path. We have listed a few kinds of people from whom you should stay away.

  1. People Who Are Negative & Doubt Your Capabilities: Stay away from people who doubt your capabilities as one of the traits which are required when you start a business is confidence. So at no cost, you can afford people who doubt your capabilities. People who are negative will have a bad impact on you.
  2. People Who Will Not Stand by Your Tough Times: All days are not going to be the same. There will be days when your business will face a tough time. It is very important to choose people who will not leave you in your tough days.
  3. Those Who Have Big Egos: When you are starting a new company, everyone is on the same page and all the employees need to think of it as their baby. People at this stage can’t carry excess baggage in the form of egos, which will create a negative impact and will hinder the growth.
  4. The Person who keeps reminding you of your shortcomings: Stay away from people who keep on reminding you of your past mistakes and shortcomings. These kinds of people will not let you move ahead in future.We hope that the above ideas will help you to stay alert and maintain a distance from such toxic people, whom you can’t avoid at the start of your business.
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Startup

Traditional and Rural Enterprises: 5 Schemes by Government to Protect & Develop The Sector

Handloom Industry (Photo Credits: Wikimedia Commons)
Handloom Industry (Photo Credits: Wikimedia Commons)

Rural India has a variety of industrial set-up including cottage industry, single-unit manufacturing, small and medium enterprises among others, since long-back. The traditional industries still thrive and provide employment to many villagers and people in the nearby areas. There are several traditional industries which are viably operative. These include handloom, handicrafts, coir, cashew, beedi, tiles and bricks and other household industrial activities carried out in the rural parts of the country. Traditional industries are labour intensive, relying on skills passed on from one generation to another generation. Mostly these industries comes under the category of Micro, Small and Medium enterprises (MSMEs)

The MSMEs contribute about 30 per cent to India’s GDP In terms of exports as well, they are an integral part of the supply chain and contribute about 40% of the overall exports. MSMEs also play an important role in employment generation, as they employ about 110 million people across the country. Governments at various levels, time and again, have implemented various schemes in order to protect and promote rural entrepreneurship and traditional industries. Here are some the schemes imitated by the government for their development –

 

Prime Minister’s Employment Generation Programme (PMEGP) 

Launched by the centre in 2008, this scheme is a credit-linked subsidy programme undertaken to generate self-employment opportunities through establishment of micro-enterprises in the non-farm sector and providing help to traditional artisans and unemployed youth. The scheme is implemented by Khadi and Village Industries Commission (KVIC) functioning as the nodal agency at the national level. At the State level, the scheme is implemented through State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries Centres (DICs) and banks.

 

A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE)

This scheme  was launched in 2019 to create new jobs and reduce unemployment, promote entrepreneurship culture in India, boost grassroots economic development at the district level, facilitate innovative business solutions, and promote innovation to further strengthen the competitiveness of the MSME sector. The scheme helps by providing for incubation and commercialisation of Business Ideas Programme through technical/research institutes, including those in the field of agro-based industry. These would be designated as Knowledge Partners and would incubate new/existing technologies for their commercialisation.

Scheme of Fund for Regeneration of Traditional Industries (SFURTI)

The scheme aims for the development of khadi, village industries, and coir clusters by providing them with improved equipment, common facilities centres, business development services, training, capacity building and design, and marketing support, etc.  The scheme invites applications from non-government organisations (NGOs), institutions of the Central and State governments and semi-government institutions, field functionaries of State and Central government, Panchayati Raj institutions (PRIs), private sector bodies by forming cluster-specific special purpose vehicles/entities (SPVs), corporate, and corporate social responsibility (CSR) foundations with expertise to undertake cluster development.

 

Credit Guarantee Scheme for Micro and Small Enterprises (CGTMSE)

It facilitates credit to MSMEs through collateral-free credit facility (term loan and/or working capital) extended by eligible lending institutions to new and existing micro and small enterprises.  The MSME Ministry and Small Industries Development Bank of India (SIDBI) jointly established a Trust named Credit Guarantee Fund Trust for Micro and Small Enterprises in order to implement Credit Guarantee Scheme for Micro and Small Enterprises. 75 per cent of the loan amount to the bank is guaranteed by the Trust Fund. It provides collateral-free loan up to a limit of Rs 100 Lakh for individual MSMEs on payment of a guarantee fee to the bank.

Credit Linked Capital Subsidy Scheme (CLCSS)

It facilitates technological development of small scale industries, including khadi, village and coir industrial units, by providing 15 per cent upfront capital subsidy with a upper limit of Rs 15 Lakh. Its objective is to upgrade the plant and machinery of small enterprises with state-of-the-art technology, with or without expansion, and also for new MSMEs, which have set up their facilities with appropriate, eligible and proven technology duly approved under scheme guidelines.

Apart from these, the government have certain other schemes aimed towards the development and conservation of the traditional industries in India. It also aims to keep the spirit of entrepreneurship alive and going in the rural area.

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Startup

5 Ideas to Start-Up Business in the Transport and Logistics Industry

Transportation and Logistics Industry| Representational Image (Photo Credits: Pixabay)
Transportation and Logistics Industry| Representational Image (Photo Credits: Pixabay)

The start-up ecosystem is blooming in India. Several young entrepreneurs have emerged for the last decade, establishing businesses in various sectors. However, certain business areas remain less explored. One such highly profitable sector with huge potential is the Transport and Logistics Industry. Though the initial investment in certain cases is quite high, but the industry ensures long term and consistent returns. The logistics market in India is forecasted to grow at a CAGR of 10.5% between 2019 and 2025.

A proper- well linked transportation system is utmost important for the development of any industry, specially the manufacturing, construction and warehousing industries. Without uninterrupted transport facilities, they are bound to be delays in movement of both raw materials and finished goods which leads to huge losses to the business. Not only for business, a robust transport system is essential for commuters to travel on a day to day basis.

Here are some start-up ideas for entrepreneurs looking to establish business in the transport and logistics industry –

Packers and Movers Service:

An all weather-viable business, providing packers and mover services never goes out of business. It is always in demand in every area, from village to cities to inter-state and inter-country moving services are required for people relocating. Despite a huge competition, with the increasing demand establishing business is comparatively easier in the field. Once you get the marketing right and create a trusted brand, you can dominate your designated region. This is a service that will always be in demand and doesn’t require too much initial time or money.

Bicycle Rental Service-

As the people are increasingly becoming health conscious and aware about the rapid environmental degradation, many are turning back to basics. They prefer using bicycles for short distances. Therefore, renting out bicycles is a thriving business, especially in dense urban areas and tourist hotspots.  Ideally the business will be a success if located somewhere near a hotel or resort so you can cater to the steady stream of tourists looking to sightsee. Alternatively, set up a bike rental subscription service near busy offices in metropolitan areas will be highly profitable.

Livestock Transport Service-

Transporting live stock including cows, sheep, goats etc., is another year long in-demand business. Various poultry, dairy and other animal centres need their livestock to be carried from one place to another. There is no license requirement to start the business While it’s the owner’s responsibility to get the livestock ready for transport, it’s your responsibility to make sure they get to their destination safely.

Delivery Services-

With increased online shopping, delivery services are increasingly becoming important. It has become an auxiliary to the e-commerce industry. In this operation, a store doesn’t keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer.

Logistics Services-

A company dealing with detailed logistic services is a sure-shot profitable venture. It has a moderate seed capital requirement. Logistics is generally the detailed organisation and implementation of a complex operation. The primary focus area is providing the right item in the right quantity at the right time at the right place for the right price in the right condition to the right customer.

With the increased demand of transport for carrying goods and people from place to another, setting up business in the transport and logistics industry is a long-term and viable plan. As the country moves towards more and more development and becomes business-centric, transport and logistics industry becomes an indispensable requirement.

 

 

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Startup

Here Are 4 Reasons Why Starting a Business From Home is Not a Bad Idea

Startup (Representational Image Only, Photo Credits: NeedPix.com)

Mumbai, November 27: Starting a business from home considered as a great time in today’s time. Although there was a time when a home-based business wasn’t taken seriously, compared with the usual 9-to-5. However, we can safely say that times have changed and COVID-19 pandemic has also contributed to changing the landscape of operating a business.

The pandemic forced offices to allow employees to work from home. It was then people valued and understood the concept of work from home. Here’s why starting a business from home is actually a good idea.

  1. Increasing Commuting Cost & Traffic Issues: We are all familiar with the traffic jams which we face every day on our way to commute. The situation in metro cities is worst, where employees are spending their majority time in travelling. So, here’s why this hassle can be overcome if you plan to start a business from home.
  2. Giving time to the family: If you are saving time on the commute, you can use that to spend time with your family and loved ones.
  3. No need to pay high rent for office space: The best part of working from home and starting your own business is that you don’t require to rent or buy an office space. Property is a very volatile market and companies spend a huge chunk of their income in paying office rent.
  4. Advancement in technology: Thanks to the ever-changing technology, your work will not be impacted even if you work from home. From good internet bandwidth to online meetings with colleagues, everything can be facilitated from the comfort of your home.

    These days, there are plenty of legitimate businesses that are being operated from homes across countries. These businesses have grown to create one of the largest, fastest-growing commercial segments in the world today. Modern technology makes it possible, easy, and convenient to do business wherever and whenever.

    Today, there are several options which are open for someone if one wants to explore the idea of starting a business from home. If you have an idea, what are you waiting for? Go ahead, and start it today.

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Startup

Makeup Artist Business: Here Are 4 Things Which You Need to Remember If You Want to Establish Your Makeup Artist Career

cosmetic Business
cosmetic Business

Mumbai, November 26: The beauty industry is constantly growing and evolving. Every day new trends are emerging, and therefore, this is an extremely exciting space for those who want to establish a career in becoming a makeup artist.

There are certain things which need to be remembered if you want to establish yourself as a makeup artist.

Make a business plan: Chalk out a business plan, where you will have to ask yourself who will be your customers and the what kind of makeup services you will provide. At this stage, also assess the budget and the expenses that you will have to make in order to establish the business.

Learn good make up: Remember, it is a very competitive field and thanks to several tutorials available online, consumers today are well-informed of the latest trend. It is very important to hone your skills.

Marketing: In today’s age and day, the majority of your customers will find you on social media. So it is very important to be present on all the platforms where your competition is there. Highlight your skills and market it well.

Create a relationship with your customers: Makeup business is about creating a bond with your customers. It is very important to make them satisfied with your service. Post which, they will share it on social media and share their experience with their followers on the online forum. Make them feel special, add something extra and customise as per their requirement.