Tag: Starting a startup

4 Signs Your Startup Is Ready To Scale

You’ve done the work and got through the starting stages of your business. These signs will tell you if your startup is ready for significant changes now.

You’ve done the work and got through the starting stages of your business. Congratulations! Yet you might be wondering when is the right time to scale up operations and reach much higher goals. 

While your customer base is growing, setting an objective to reach your target profit is also advised. But knowing when to take your company further is just as important as how to do it. Unsure of when to take things to another notch? These signs will tell you if your startup is ready for significant changes now: 

 

Your Core Team Is Strong 

 

Any startup business is only as strong as the people backing it up. It’s said that they’re the backbone of your company. Be it three people or more, commitment and consistency are critical to the longevity of your enterprise. Your team should have the same passion and goals as you do. They’ll perform better and shoulder the challenges that come with scaling up. 

But, if you have a small team with each member handling various tasks, the pressure they’ll experience can contribute to eventual worker dissatisfaction. Too much stress directs your team to absolute burnout and the likelihood of leaving your company becomes inevitable. 

To help lighten their load, begin onboarding qualified staff members who each have specific expertise so they can all focus and give their best. 

 

Refusing Business Opportunities 

 

Building a loyal customer base is vital to the stability of your growing startup. The more specific people you know, the more you can network. 

It’s believed that your customers or clients are the pillars that give rise to expansion and steady profits. While your business is developing, it’s common to welcome clients that come your way to establish your brand in the current marketplace. If you need assistance with your startup, you can go here for more information.  

Success becomes evident in the long run through the capacity which your company has grown into. The startup should look after the increasing baseline of customers while the client network spontaneously increases simultaneously. As a result, you may have to start rejecting potential business opportunities because the number of customers is overwhelming your team. 

When you start refusing customers and clients for there aren’t enough employees, inventory, and business hours, it’s a sign that you need to scale immediately. When more people show interest in your business, it means the startup is at the right time to improve its infrastructure, create and plan new goals, and map out the steps to be undertaken for scaling. 

 

Your Company Has Positive Cash Flow 

 

A startup has a positive cash flow when more money is already in the business account than going out. It doesn’t include pending payments from customers and clients. 

Scaling can raise the company expenses before revenue forms. It’s best to prepare for setbacks by using your current financial situation to estimate income and expenses in the future. If your efforts fail, setbacks won’t send your business into bankruptcy. 

It’s regarded that a profitable business and the ability to predict revenue aren’t enough. Learning to control expenses and predict profits is just as essential when running a business. While it may seem obvious, those involved in the startup must identify the time and allotted budget for selling or introducing a new product or service.  

With the given input and output, you must determine how one influences the other while considering the sustainability of the business with the given time and money. Although this will work on many companies, there’s always an exception to the rule. It doesn’t apply to those regularly funding their businesses with a series of financing options.  

 

Your Startup Has A Reliable Infrastructure Already In Place

 

The fundamentals of running startups should be the foundation and focus for the first level. Too many small businesses are believed to fail because they fuss overgrowth without preparation. If you want success, define your target market and value proposition to make the business last with a proven concept.  

You must first prove that your product or service is viable before shifting your team’s concentration on growth. The organizational structure is also essential for an organization, especially when managing the company’s finances. And like a company that values the basics, the company ethos and mission statement must also be in place before scaling up. 

Your business framework should be in place before scaling to allow you and your team to maximize the time and energy you put into growing.  

Conclusion 

Upon its establishment, your business must have signs of growing pains that show it’s time to allocate more time and funding, hire more people and create a plan of execution to go big. Scaling up takes time, energy, and money, and you can’t move up unless you’ve experienced what it was like to keep the business afloat. Keeping your eye on the signs helps you make informed decisions, leading to a better future for your venture.  

The 9-Step Guide To A Winning Start-Up Business

To streamline your process of building a business from scratch, here are effective steps that you can take up in order to get your business growing positively.

Getting any business started from the ground up can be a challenge if you’re inexperienced in the ways of the economy. Apart from having an idea, there’s much more that’s required for the successful inception of an organization. From planning how your workflows will operate, the number of members, and outsourcing technologies to things as simple as deciding the name of an organization; there are several layers to the formulation of a start-up that many don’t take into consideration until they’re a few thousand dollars deep into their investment.

One of the best aspects of start-up culture is that it can support the idea of a product or service without falling into the loop of corporate culture, maximizing your efficiency by bypassing all the red tape. However, the need for a structured approach is critical in all forms of entrepreneurship, especially startups. You see, a start-up without any set direction can grow in any way, even downwards, if the owners don’t watch their trajectory. To set things straight and help you streamline your process of building a business from scratch, this blog will talk about nine effective steps that you can take up in order to get your business growing positively.

1. Determine Your Business Avenue

We understand that start-up entrepreneurs are bursting with ideas to accomplish in a set product. However, too many of these ideas executed together can spoil the pot. The best way to go about your business avenue is to write down all of these ideas on a piece of paper. Next, conduct thorough research based on market trends, past records, and ongoing businesses regarding the feasibility and practicality of these ideas. What this does is help you to eliminate the ones which are not easily applicable in real life. Some ideas may be too futuristic for this time and can be parked until you reach a good level with a business idea that’s more lucrative. Once you have decided upon the industry and avenue of your start-up, you can now get into the inner workings of it.



2. Create an effective Business Plan

A business plan consists of all the particulars that your start-up needs to show in order to acquire new investors, shareholders, clients, and even partners. This is the document that elaborately covers your idea, preferred location, establishment workflows, the product or service description, how it works, your customer base, and much more. If you’re not sure how to start creating a refined business plan that can be presented on several occasions, make sure to do your homework and lookup a reliable business plan structured for your relevant industry.

3. Find Start-up Funding

Once your business plan and idea are all set, it is time to think about your funding options. Can you afford to carry all the expenses and investments that come with the business, and for how long? Most entrepreneurs seek the help of investors and capital sourcing to run their businesses. Of course, this makes you answerable to such parties, given their decision-making stake in your start-up. However, if you find the appropriate loan or investment, operations become smoother considering you can begin to get all the necessary technological and workforce support.

4. Name and Register the Business

One of the most important aspects of getting a start-up going is to name your company. This has to be well-thought-out since your business’s name will stick with you for the rest of the time. Choose a name that reflects the industry and business well, you don’t want to be mainstream and also not too mysterious. Once you have a name, check whether it has any competitors in the same industry or country to avoid conflict of interest. Get the name registered with the appropriate documentation. As well as registering the name, you also need to make sure you have registered your business’s office address (this is a legal requirement for all businesses in the UK). If you are struggling to do this, or are unsure of how to find a registered office service in London (or one closer to you), then a quick online search will bring up all the information you need to make sure your business is registered legally and correctly.

5. Build a Team

Whether you get funding or not, sometimes you cannot do it all by yourself. Take the time to hire at least the core team of your start-up so that you can get more work done in multiple departments rather than pushing yourself. Don’t be afraid to outsource your talent for expert work like app developers UK firms. It may feel very passionate to take up multiple roles in your dream business, but you will burn yourself out before the company takes off. Make the smart decision and hire people or outsource integral aspects from experts in their relevant field so you don’t have to worry about what you have to get done.

Want to skip the startup stage? Consider buying a franchise instead!

If you want to start a successful business without going through the tedious and stressful startup stage most entrepreneurs have to face, consider buying a franchise instead. Nowadays, you can use many websites to browse franchise businesses currently looking for new franchisees, such as Franchiseek South Africa. This directory will keep you updated on the latest franchise opportunities in South Africa.


6. Work on your Online Domain

Having an online presence to prove your existence is the status quo today. Every company is expected to have a functional website so that clients and interested parties can visit your portal to understand your offering. Generally, creating a dynamic website that has all the insight about your company can generate traffic using great content; make sure to establish a strong online presence.

7. Acquire the Necessary License and Permits

Many of you must be working on proprietary and flagship ideas that have not been seen anywhere else in the market. To protect your interests and products from getting replicated, plagiarized, or even stolen, make sure to file for all the necessary permits, patents, and licenses to prove that your work is legal, original, and belongs to only you.

8. Decide upon a Business Location

The head office of your business needs to be at a place where all the industry giants are at. Once you decide upon the audience, make sure to be located where they are. This makes you more reachable and helps with SEO metrics too.

9. Subscribe to Insurance

The number one mistake a new start-up can make is not having extensive insurance coverage. If you have a physical establishment, protecting your assets, technology, and property from damage has to be your first priority. Once you have the correct insurance cover that protects you against sudden losses and damages, you don’t have to worry much about incidents and accidents.

Wrapping Up:

As we can see above, this structure will help you form a very thorough approach with your start-up, covering all holes and loops in the plot. You can add to these by taking into account your specific service and industry, but these nine points cover all businesses. We wish you good luck with your endeavours!



Give Your Startup a Running Start: Best Tips for Building a New Business

Building a new startup from scratch can be overwhelming, especially if you’ve never started a business before.

Building a new startup from scratch can be overwhelming, especially if you’ve never started a business before. Sometimes it’s difficult to even decide where to begin. Well, of course, you have to start with an idea. Once you have that, there are a few important steps you should take before making any financial investments, and there are some essential components of a business you need to have ready before making any sales. Here are the top tips for building a new company from the ground up:

Narrow Down Ideas and Get Organized

Perhaps you already have your business concept narrowed down, or perhaps you still have a few ideas you’re juggling around. Perhaps you’ve chosen a concept, but it still needs to be fleshed out. The first step is using a brainstorming and organization software to sort out your thoughts and create a solidified game plan. Create mind maps to visualize your concept ideas and easily compare ideas side-by-side. It’s also a good idea to find an app that is versatile and makes sense to you so you can use it for future financial planning, product development, and any other brainstorming you need to do down the road.

One popular brainstorming software is Braincat. This new app is still in development but is loved by users for its originality. Braincat guides you through a specific thought process designed to help you clear your mind and see projects in a new way. Many startup owners use Braincat for product development and business planning because it not only helps them sort out cluttered thoughts, but it also boosts creativity via carefully tailored question sets that vary depending on your project type.

Here are some key points to keep in mind when analyzing startup ideas:

· What is the business mission?
· Who is the target audience?
· What makes this concept original or unique?
· What are the costs? How will you fund it?

It’s also important to get feedback from outsiders on each idea. Having as many trusted, unbiased perspectives as possible will help you see new angles and potential limitations you didn’t consider. Ideally, this means at least one professional business consultant who can provide insight from within the business field. This is especially important if you’ve never built a startup before, as they will offer advice and help you set realistic expectations. If you don’t want to pay for a business consultant, or you want additional opinions, you can check out business themed online forums such as GrowthHub and startups.com. When it comes to online sources, it’s important to consider the expertise of the person giving advice.



Make a Financial Plan

Once you have a fully developed business concept and a general idea of the costs involved, it’s time to create a more definitive budget and financial plan. Include basic information about your startup, such as the name, type of business, and mission. Most of the end points of your original concept brainstorming should be included.

Keep this as a working business plan to refer back to and update as your startup develops. It’s important to always have documentation to remind you of the startup’s core mission, goals, and financial expectations. This way you can recognize when you are going off-track or when you need to reassess main goals. In this plan, get into the specifics of exactly how much your startup is going to cost just to get “up and running”, in addition to operating costs.

Obtain a License

Before making any sales, you’ll need to apply for an employer identification number or EIN. This is necessary for separating your personal identity from your business. Applications are free on the IRS website.

Additionally, research any other required licenses for your type of business. Some industries and locations require additional licenses in order to make your business legal.

Set Up a Bank Account

Once you are licensed, you can open a business bank account. This will be the account that collects all revenue from the business and makes business-related expenditures. It’s important to have a separate business account for tax purposes, as well as personal financial organization.

Get information about business account features and limitations from a variety of banks and credit unions to find the one that suits your needs. Take into consideration the payment processing speed, minimum account limits, and customer service reliability.

You will also need to hire a company that handles payment processing, like Square, so that you can accept credit and debit card payments from customers. Just as with finding a financial institution, you should compare multiple different companies to find the best fit for your business.



Create a Website and Rent a Space

Once you have a business bank account, you can begin making expenditures on your startup. The two most important expenses right off the bat are a website and a physical building or space, if your business requires one. If you can operate without a physical location, do it. Don’t waste money on renting and operating a building if it’s not an essential component of your business model.

Online presence is absolutely essential for business success. One of the biggest mistakes business owners make is underestimating the power of a website and online network, even when your company doesn’t rely on eCommerce sales. Creating a website can come before any physical preparation because you can begin generating local awareness before your business even opens.

Of course, if your business needs a physical office or retail location, now is the time to find one and prepare it for grand opening. It is advised to do this step as close to opening as possible, especially if you are renting, so that you can minimize your operating costs before you begin bringing in revenue. The same goes for other repeating expenses like employees.

Start Advertising

Be sure to start off your business with a bang in terms of marketing and advertising. A strong marketing campaign from the start will bring in customers on day one. In addition to paid advertising campaigns, make social media accounts and interact with the local community to build a positive brand reputation.

In the beginning, building a strong image for your brand is extremely important. You should even consider hiring a professional marketing company that can offer top branding strategies and additional resources.



Why You Should Get Outside Help for Marketing Your New Small Business

If you are just starting out your business or you have been in business for a while but barely covering your overhead costs, a simple solution to quickly improve your business is to improve your marketing reach and sales performance.

With so many business owners trying to accomplish the same goal, it’s difficult to stand out in a crowded marketplace. That’s why marketing your small business is important. Marketing your business will set you apart from your competitors and allows potential customers to find you. It will make you more relevant in the marketplace.

If you are just starting out your business or you have been in business for a while but barely covering your overhead costs, a simple solution to quickly improve your business is to improve your marketing reach and sales performance. Marketing is especially important to stay in business if you don’t have the time or resources for marketing your business. In this situation, seeking outside help is essential.

Free Up Your Time

Business owners who are just starting up their own small business often feel pressured to market their company themselves. However, you may not have enough time to give marketing the careful attention it deserves because you have to take care of many other aspects of your business, too. Consequently, it is worth the time and money to hire outside help for marketing your business because they have fresh ideas and experiential knowledge that you may not be aware of.



Close the Talent Gap

As an entrepreneur, you may have a lot of knowledge, skills, and talent, but you may not know how to go about marketing your company. To address this issue, you may want to hire outside help to help them with the process. Outsiders can provide a fresh perspective on questions like how best to promote your product or get more customers into your store.

You may also be skillful in some aspects of marketing, but not everything. For instance, you might be great at networking in person, but not know much about SEO marketing. If you have a website, then this is something that you will need to know. Rather than studying it on your own, it might be better to hire a firm familiar with small business SEO services.

Some businesses hire interns for marketing, while other services offer certification for small businesses and entrepreneurs who want to learn how best to market their products, but if you don’t have these resources, you may want to get outside help.

Marketing your small business can be overwhelming. Because of the number of tasks that you need to complete, it’s understandable why you might want to enlist the help of a professional in many aspects of your work. It is always a good idea to consider hiring a marketing agency to get more support on topics that are outside your expertise.



How to launch a business from scratch

Do you have a solid idea for a startup business? If you want to succeed with your new business idea, follow these steps.

Do you have a solid idea for a startup business? If you do, you’re likely wondering if it’s possible to launch a business from scratch.

The good news is that you can start your own business even without a ton of experience. The first steps should be all about research and planning.

If you want to succeed with your new business idea, follow our steps below.

It Begins With Your Business Idea

Before doing anything else, you must come up with a good business idea. Doing so includes researching consumer needs and trends in the market. Keep an eye on local events.

Would your product or service be able to address these customer needs? How much competition would you face?

You also need to figure out what you’re capable of doing on your own. Start with your skill set and determine what you can handle and when you might need someone else to perform certain tasks. For instance, you may need to hire a marketer or a web design company to make a professional business website.

Follow a Business Plan

Creating a business plan is vital for startups as it outlines your objectives and how you plan on meeting those goals. In short, a business plan will help to keep you on track.

You’ll need a solid business plan if you’re going to seek investment. Not only does having one make you look more professional, but it helps solidify your goals and tells investors you have a plan and a strategy for success.



Finance Your Business

There are multiple ways you could finance your new business. Each option has its pros and cons, and you may want to consider combining different financing methods for the best outcome.

Here are a few to consider and research:

  • Bank loans
  • Crowdfunding
  • Friends and family
  • Angel investors
  • SBA loans
  • Personal savings

If you’re strapped for finances, you might want to consider bootstrapping. This method involves using only your personal savings and working hard to make your first sales. Once you have some money coming in from sales, you can put that back into your business.

During this step, you also want to make a budget. When you launch a business, you may need to cut back on other expenses, so be prepared.

Get a Business Coach

There’s no doubt that launching a startup company is tough work, and it’s always easier to make your business succeed with help. If you don’t have a lot of experience running a business, you should consider investing in a business coach.

Take a look at this Business Made Simple Coach to get started. With help from a certified coach, you’ll get the clarity and guidance you need to take your business from an idea to a successful company.

A business coach can walk you through planning, marketing, creating mission statements, and more.

Learning More on How to Launch a Business From Scratch

While these tips are only the beginning, they should help you on your journey so you can launch a business successfully.

You’ve taken the first steps, but that doesn’t mean you should stop learning! Now is the time to keep researching and refining your skills. To learn more tips on how to build a business, check out some of our other resources on the site.



4 Resources to utilize for advice before you start your career as an entrepreneur

There are a variety of resources available to help you better understand your role as an entrepreneur so that you can set yourself up for long-term success.

When starting your own business, it can sometimes seem as though you’re headed out on your own into the vast wilderness. The good news, though, is that this isn’t the case at all. There are a variety of resources available to help you better understand your role as an entrepreneur so that you can set yourself up for long-term success.

Other Business Leaders

Believe it or not, many business leaders like to talk about themselves. One of the best things you can do, then, is to get established business leaders talking about how they found success. Typically, there will be plenty of wisdom to be found in these conversations that you can apply to your own business. Plus, you may be able to build relationships that can benefit you in the future.

Books and Literature

To understand how to operate successfully in the present, it’s important to understand how the present business climate developed out of successful businesses in the past. One way to do that is to read historical novels about business that document the rise and fall of some of the country’s most well-known companies in both fictional and non-fictional settings. By learning how other real and fictitious entrepreneurs were able to use their limited resources to build empires, you’ll gain some tools that you can use in your own pursuits.



Conferences

Attending a business conference is a great way to gain insight into running a business while also networking with other entrepreneurs. The talks given at conferences often feature-wise leaders in business who can offer great insight into what to do and what not to do as you move forward. Plus, there’s nothing like a conference atmosphere to get you pumped about the direction you’ve chosen for your life.

Similar Businesses

Even if you have a unique idea for your business, it’s likely that your business will operate in a space alongside other businesses. Therefore, it’s a good idea to study these other businesses to help find your own recipe for success. You can think through what you like and dislike about these businesses, what the pinch points seem to be, and what you would do to improve upon the business model. You can then apply these findings to your own business to make it as good as possible right from the start.

Even if you have excellent business acumen, there’s still more that you can learn. Therefore, it’s important to take the time to be a student of business before launching out on your own. Since learning costs very little, you can simply see this time of preparation as an investment with potentially spectacular returns.



Communication is key: Tips for coordinating with entities outside of your new company

Coordinating your company activities with local officials and prospective clients can build bridges to position your business favourably with the public.

When launching a new business, an important part of the process is connecting with various entities. These may be individuals, organizations, government, the public, or other companies. Coordinating your company activities with local officials and prospective clients can build bridges to position your business favourably with the public. Effective communication is vital in these endeavours. The following tips can help to represent your company clearly and professionally.

Plan Ahead

When meetings are scheduled with important people to discuss your company, prepare in advance. Research the topic or put your company information in order. Arrange your notes for easy reference if needed. Create an impression of confidence and experience by knowing what you want to say and the best way to say it. Consider taking resources with you as an iPad or laptop and connectors for them to be accessed if necessary.

Know Your Audience

Browse the websites and social media pages of people you plan to talk to. Get to know them generally for an idea of their personality and interests. When meeting with attorneys, check their website for the types of firms they represent that are similar to yours. Knowing something about prospective clients will let you tailor your presentation or meeting toward their preferred communication style or areas of interest. For example, a sports enthusiast might appreciate your using a sports metaphor in discussing your projected company growth.



Consult Communication Experts

If you don’t have the time to research online sources for communication information, look into consulting with a public affairs firm to coach you for meetings of consequence. In some cases, they may be able to represent your company through marketing strategies.

Communication professionals have experience dealing with many kinds of people in the public sector and in the business world. They can advise you on how to showcase your company’s strengths and demonstrate a confident attitude. You can also learn what not to do to avoid making a faux pas that could lead to a negative outcome.

Be Positive and Respectful

Talk to everyone involved with your company in a polite way. Refrain from giving undue criticism or being rude if your company or promotional tactics are questioned. Maintain an upbeat outlook and willingly retrieve additional information if needed for a decision-making process. A professional communication style will make you and your company memorable in a good way. However, being late, discourteous, or ill-informed will have the opposite effect.

Quality communication is one of the top abilities noticed and valued by professionals. Polish your style to avoid slang, use correct grammar, and offer helpful information that others can use.



How to stay focused and motivated while starting a business

The hardest thing about entrepreneurship is the constant rejection. Here are some tips on how to stay focused and remain motivated while starting a business.

During the initial days of entrepreneurship, the scale of motivation always remains on the higher side. However, once you’ve spent some time working on your startup, and do not get results as you’d expect them to be, the motivation starts to fade out.

The hardest thing about entrepreneurship is the constant rejection. However, all you need to do is remain determined and dedicated to being able to overcome these hurdles that come in the way of you and your entrepreneur dream.

You’re not the only one and in fact, people of all walks of life and ages struggle with remaining focused. Here are some tips on how to stay focused and remain motivated while starting a business.

1. Celebrate the small wins: If you’ve decided to be an entrepreneur after leaving your well paying job, it is a victory in itself. So, even passing small hurdles call for some celebrations. Cut that cake, open that wine bottle, and you’ll continue to remain motivated.

2. Share your dreams: Just like Rome wasn’t built in a day, it wasn’t even built by a person alone. So, while you may want to do all the work by yourself, make sure you share your plans, ideas, successes as well as failures with your family members, friends and loved ones. They will be there to celebrate your success and be able to pull you up when you’ve failed and keep you motivated to move forward.

3. Use the early hours: Instead of scrolling through your social feeds, go ahead and do something productive in the same time frame. It’s always better to do something productive in the first few hours of your morning because it is then when your mind is fresh and most active. If you make it a habit, it will help you remain focused on your work.

4. Take care of yourself: When you are better mentally, physically and emotionally then you’re better with your business. Unwind when needed to keep you motivated. Your mental health is as important than physical health so you have to be strong mentally and stay energetic to grow as an entrepreneur. Never ponder on words which hurts you most, never ever care about back fence talkers. Work on yourself to become as strong as a solid rock wall.

5. Attitude of gratitude: Always keeps the attitude of thanking when you are starting off your day. Show gratitude towards positive things in your life like your family, friends or your loved ones. Always have a little bit of gratitude towards anything that makes you feel thankful. This will not only keep you motivated but also bring in more focus in your work.



6. Create a roadmap: You need the ensure that you’re creating a roadmap in your business so that you know what your plans will be. Jot down as to when and what you want to achieve and work your way according to the plan. This will ensure that you have your eyes on the prize and things don’t go haywire.

7. Get inspired: To stay in the game, you’ll need to constantly keep finding inspiration. The inspiration could be from anywhere, a person, a book, a movie, or even a daily quote. Just make sure that you’re getting inspiration from all sources possible so that your focus doesn’t shift and you continue to strive for success.

8. Have positive people around you: Not everyone will be there clapping their hands, applauding you when you succeed. More than half of the world will want you to fail and screw up, stay away from such people. Surround yourself with people who think like you and have the drive to succeed just like you, this will ensure that your focus does remain in place.

9. Know the Why’s: When you feel like giving up, just remind yourself why did you decide to take the route in the first place. Keep reminding yourself as to why would you want to climb the ladder of success, think about those great plans you have for yourself. You’ll remain focused like this.

10. Track your Money: Make sure that you’re keeping track of all the inflows and outflows of money. This will definitely help you in remaining motivated and also help you in understanding as to how close are you getting to your financial goals.

If you want to ensure that your startup is a success, along with a business plan, you also need to ensure that you find ways to remain motivated and focused so that you don’t falter and become unsuccessful in reaching your goals. You may doubt yourself, but make sure you remind yourself that you’ve got this.



Best leadership tips for startup founders

What exactly do great leaders do that sets them above the rest? Here’s a compilation of the best leadership tips for any startup founder that will help you along your journey.

Founding your own company is a brave and exciting choice. As the founder, it’s your responsibility to be a great leader. If you want to see your start-up not only survive but also thrive you need to be at the helm striving to be your very best. Your actions will have a serious trickle-down effect, especially if your company takes off. How do you know you’re leading to your fullest extent? What exactly do great leaders do that sets them above the rest? Here’s a compilation of the best leadership tips for any startup founder that will help you along your journey.

Promote your company in a way that makes you look polished

Even if you’re just starting out and operating from the inside of someone’s garage, the way you market your company to potential clients and on social media can make all the difference. You may already be in fierce competition with another start-up that has a similar vision. Before you’ve built client relationships-resulting in positive word-of-mouth and referrals-you need to be able to attract potential client’s attention away from your competitors. One way you can do this is with a professional introductory video.



When your start-up is new, it might not be clear what exactly you do. Clients like to go with a known variable. By making a video that introduces your company by explaining what kind of services you’re offering and interviewing some of your staff, your company is no longer shrouded in mystery. The unfamiliar is now familiar and potential clients feel like they’re taking much less of a risk hiring your team.

Guide/Checklist from Due Diligence Questions

You’ve already got a lot on your plate trying to run your business. Don’t feel like you need to take care of this video yourself. Consider hiring a videography company in Los Angeles to make you an incredible introductory video. By outsourcing this project, you’ll get quality media and never have to lift a finger.

Look to the future

If you can’t see the forest for the trees, you’re going to find yourself visionless. How do you lead your company without a vision? Although, it’s important to have a pulse on the climate of your start-up from day to day, being able to see past the first few months of operation will ensure your company’s longevity.

This is particularly true when it comes to your financial situation. What’s your long-term plan? Are you investing in places that will give your company the numbers it needs? If you’re looking for financial advice like this, look to the long-standing professionals for your advice.

Mark Wiseman is a global investment manager and business executive who has been navigating the economy for well over a decade. He understands your potential hesitancy over investing right now due to the declining global economy from the pandemic.



However, Wiseman feels it’s actually a great time to get in on the ground floor of investment while buy-in is so low. He cites how “if you stand close, you can see the violent downward swings brought on by the Great Depression, 9/11 and the global financial crisis. Take two or three steps back, those moments are no longer noticeable. All [you] can see is an upward curve.” In other words, your investments will ultimately grow—no matter how hard they’re hit—over a long period of time. If you can, look to the future now and invest.

Engage as much as you feel necessary

When starting a business, you want to throw everything you have into it. According to Forbes, it might not be best to listen to the people encouraging you to find work-life balance while you’re trying to get your company off of the ground, because fast “developing business areas…require constant engagement with the industry.” Follow your gut. You’ll know when you can finally take your foot off the gas.



Increase in Indian startups as Blue-collar workers enter the startup ecosystem

Due to the ongoing pandemic, many have been prompted by job loss and reverse migration. To cope up with the loss, many of blue-and-grey collared workers have started their own business in tier II and tier III cities.

Due to the ongoing pandemic, many have been prompted by job loss and reverse migration. To cope up with the loss, many of blue-and-grey collared workers have started their own business in tier II and tier III cities. This has increased the number of startups catering to the new segment which is backed by Y Combinator and Sequoia Capital.

Apna which is a recruitment platform for the grey and blue-collar jobs, Lokal which is a hyperlocal news and classifieds platform, Aiisma which is a data marketplace app and ReadyAssist which is roadside assistance startup are all included.

Their aim is to upskill and reskill the newbies of micropreneurs across some states such as Telangana, Karnataka, Andhra Pradesh, and Tamil Nadu. They hope to become the helping hand for the new breed entrepreneurs to understand business dynamics, soft skills like marketing and communication as well as community and distribution networks.



Apna has approximately 60 skill-based vertical groups or communities that assist workers such as plumbers or electricians who wish to start their own business as well as help them to learn about various market opportunities after setting up the business.

Pune-based Kishore Patra, 36, who worked in a company for about 20 years. He recently lost his job after the closure of the company. Patra slowly took a turn towards business. It also included the one which dealt with eco-friendly pencils wherein it used Apna to hire around 200 people for the business from February. To the Apna peer groups, the skills and jovial personality of people that Patra had, made him an influencer which inspired to launch his own YouTube channel, ApnaBizPandit.

“On the app, inter-vertical skills are quite common, which otherwise is difficult to see in the real world as these people do not cross paths. This helps these informal workers expand their services and assist each other to provide business leads, share their challenges and communicate,” said the head of Apna, Nirmit Parikh. Apna has received funding of nearly $2 million from Sequoia Capital and Lightspeed Venture Capital.

To build their distribution networks, micro-entrepreneurs use the hyperlocal news and classifieds platform, Lokal. In November 2019, Lokal has raised $3 million in seed funding from Y Combinator and others. Lokal is currently available in Telugu, Tamil, and Hindi.



An executive said, “Through Lokal Ganesh who is a small-time seller from Warangal found delivery personnel to ship 1,500 hearing aid devices to others and his community.” The executive added, “We have helped facilitate the sale of vegetables, homemade ornaments, and even a goat in Tamil Nadu.”

Most of the sellers are new to the business world and all infrastructural challenges and that’s where Lokal comes into the picture. “Many of them are private employees who have started selling essentials as they have not been paid salaries during the lockdown. More than 90% of local MSMEs have been adversely affected. Local beauty parlours and saloons are now selling and delivery beauty packages to sustain their income,” said co-founder of Lokal, Jani Pasha.



The importance of having a go-to market strategy

Having a go-to market strategy ensures the success of your product each time.

The way you connect with your customers and how you gain their trust and loyalty all depends on your marketing team and the marketing strategy they use.

Having a reliable and effective marketing style can give your business the boost it needs every time you launch a product or service. Additionally, having a go-to strategy ensures the success of your product each time. At times you need to take approvals from the local authority to carry on your work, you need specialists like Michael Grayum to present your company in that situation.

Although building a go to market strategy can come with a few pitfalls if you’re not careful enough, it’s still essential and beneficial for your business. The trick is to be cautious with how you develop it and ensure that it’s bulletproof.

So, why is having a go-to market strategy essential? To give you further information, here are the top benefits that come with having a GTM:

Reduces costs

In anything you do with regards to your business, reducing costs is always a top priority. With a go-to market strategy, you can reduce marketing costs associated with failed product launches, as you already have a bulletproof and effective plan.

A study from Harvard Business Review showed that the majority of product launches fail because its marketing techniques are not effective. Thus, companies waste thousands of money each year.

When you have your go-to strategy, you’re sure that your products are not only great but will also have success in the market because you advertised it well. And you did so without wasting any money.

Reduces time and resources allotted to marketing

Sure, building a go to market strategy takes a lot of time that can maybe last for months. But when you finally find your perfect formula, it is worth it.

Imagine all the time you take creating a marketing strategy each time you release a product? Each project could take weeks to months to complete.

But when you take your time building a go-to strategy, you can implement this technique in all of your product releases without having to waste time or resources on new approaches that might not work for you.

Better ability to adapt to change

If you have a go-to market strategy, and you have done it a couple of times on your products or services, you already know this strategy by heart and how to execute it flawlessly.

Primarily, your knowledge and expertise with your market strategy will ensure that you will have a productive and successful launch. But aside from this, a go-to strategy also gives you the ability to adapt to change quickly.

For example, if a sudden change in your target demographic comes, you will know what to tweak in your strategy for it to work for that demographic.

A strong go-to market strategy can quickly adapt to any market in any given circumstance and maintain its effectivity.

Ensures growth and success

When you have a go-to market strategy that you know is effective and will work every time, then you’re guaranteed that your company and product is on its path to growth and success.

There is no need for you to waste your time thinking about whether your strategy will work or not. You do not have to worry if it will cost you too much because you know that it works, and it always will as long as you tweak it to your target consumers’ needs.

The bottom line is that having a GTM is an essential part of any successful business. So ensure that you take your time creating a great go-to strategy, and you take experts’ advice.

3 Ways to get your small business running like a fortune 500 company

It is not a smooth transition from working out of your home office to owning an office building.

Congratulations! You’ve taken a leap of faith, and you’ve started your company. Most people are probably calling you crazy, and your parents are worried, but you have your business plan and business cards in tow. However, it is not a smooth transition from working out of your home office to owning an office building. It takes hard work. But don’t fret! Here are three ways to make that process easier.

Market Yourself

Your business being small or new, is no excuse not to market it. People can’t give you their money in exchange for the excellent good or services you provide if they don’t know you! For a small business CRM (customer relationship management) is vital. You have to be actively searching for and to communicate with potential customers and long-standing customers. The easiest way to do this is to use a service that handles it all for you. Think of mass emails and social media marketing. If you use a service that handles all of this for you, you’ll have more time to build your company. Yeah, it will cost you, but by now, you know that to succeed, you have to invest in yourself. Using a small business CRM takes care of the hard part (marketing emails, social media) or the part you may know nothing about. Small business CRM is the definition of working smarter, not harder. And in the world of small business, you probably already know this is super important.

Utilize (and Respect) Your Human Resources

Don’t be afraid to ask for help when you need it. Not sure how your proposal sounds? Run it by someone you trust. Perhaps they will catch something you missed in all the stress that comes with running a company. It’s much easier to fail in front of someone you trust than to fail in front of potential clients. Or maybe you are terrible at organizing all the essential documents that come with starting a new business? Ask your super organized roommate from college if they’ll help you come up with a system. The worst someone can say is no, so ask.

However, once you’ve got this fantastic feedback, advice, or support—say thank you. It might mean sending a hand-written note, candy, flowers, or taking your “human resource” out to lunch. Always show your appreciation, even with the little things, because it all adds up. If you want to run a successful company, act as you do already. Show gratitude.

Be Patient

It may be the hardest thing to do. Being patient when you know you have the next Apple or Netflix running out of your home office is hard. You want the success now, and you want all eyes on you in the big board room meeting. But it takes time. Just look at one of the most successful businessmen of all time, Steve Jobs. He failed monumentally and more than once. However, his persistence and patience are what got him the company of his dreams. And the rest of the world, some of the most significant technology ever invented. It’s cheesy, but it’s true. Rome was not built in a day, and neither will your amazing company. Be patient.

What are the best startup ideas in India to work on and start a company?

What are the best startups in India to join currently, and why?

Ever since our Honourable Prime Minister, Narendra Modi, talked about Skill India, the echoes of startup became more vivid and far spread, but what is a startup and how will it affect an individual? Before getting straight into the theory of startup, let’s understand entrepreneurship.

Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs.

Entrepreneurs invent startups. Startups are high-risk businesses featuring a product or service that’s aimed at fulfilling a specific need in the marketplace. Most of them are technology-oriented and focused on growth potential. Some pretty recognizable businesses began as startups, including Uber, Airbnb, Spotify, and Snapchat.

Startups are highly important in an economy as it promotes employment and also uplifts the living standards of the people.

So let’s check out the best ideas for startups in India:

1. Logistics Business

Logistics business (especially in tier 2 and tier 3 cities ) with the growth of smartphones and the internet, demand for e-commerce is growing faster and companies like Snapdeal and Flipkart, etc. are having a hard time in delivering in those areas. Many players are coming up like Roadrunnr, Ekart, but still not good in those cities.

2. Database Marketing

With companies struggling to convert bulk emails into customers, it is high time that they adopt a system where they are able to target and segment customers and then send a personalized email. For example, I have to sell insurance, I would ideally want to write a first mail different to a retired person and different to a young working man. This is only possible via database marketing. A lot of startups have flourished in this domain in the USA but not a lot in India.

3. Recycling

People make billions from recycling. I still fail to understand why our nation has not been able to do much. The waste is gold and we waste it. All metals, newspapers can be easily recycled. All biodegradable substances can be used to produce rich manure or even biogas. Someone needs to stand here. It would be a great profit-making social entrepreneurship.

4. Exercise Notebooks

Exercise books are widely known & vastly used as day-to-day products. Notebooks are available in the market in various sizes, shapes & pages and having various types of covers paperbound, board and Rexene bound, etc.

5. Blood Bags

The blood bag is a disposable bio-medical device used for collection, storage, transportation and transfusion of human blood and blood components. The system consists of a single or multiple bags connecting with tubing, needle, needle cover, clamp This idea can hit into hospitals and other health organizations.

6. Readymade Garments (T-Shirt)

Readymade garments are a part of our daily life. Clothes are an epitome of culture. People in different parts of the world have their own styles of dressing which symbolize their culture and status. The Readymade garments industry is increasing day by day due to changes in fashion in day to day life.

7. Integrated unit RMC with Stone Crusher

Concrete is the most vital material in modern construction. It has versatile properties like easy mouldability, high compressive strength, and long-lasting durability. These properties of concrete have made it the most popular construction material for all types of civil engineering works.

8. Production of liquid soaps and detergent

Laundry detergent, or washing powder, is a type of detergent (cleaning agent) that is added for cleaning laundry. In common usage, “detergent” refers to mixtures of chemical compounds including Alkylbenzene sulfonates, which are similar to soap but are less affected by hard water and we all know that every household needs it.

9. Romantic Places

With a huge number of young people, dating is widespread in metropolitan cities. Now have a look around, and tell me how many romantic places you have been to with your GF/spouse? Rarely would you come up with a good answer? I hardly see Candlelight Restaurants in cities, no romantics gateways. Not a lot is being done for the “couples” market. Men usually have a tendency to splurge in front of their dates. Play outsmart here.

10. Namkeen (Bhujia, Chana Chur, Khatta Meetha)

Dal Moth, Chanachur, Bhujia and Khattameetha are the important names signifying flavor and taste as processed foods. These are food products having no historical background but have established popularity in the market over many years.

11. Tuition Centre

This is possibly one of the most cost-effective businesses to launch, due to its near-zero starting cost requirement. Most tuition-teachers take classes in their own homes, thus eliminating any expenditure on rent and supplies. The only effort you need to put in as a tuition teacher is to take to advertise yourself on social media or go the old school way with flyers and ‘word-of-mouth’ recommendations.

12. Breakfast Joint

You must have noticed how those little breakfast and tea stores across your city are almost always filled with customers. This is because food as a commodity will always do well in a competitive market. To open up your own breakfast joint, you need to invest money in renting a space for it, after having received a permit for it from the respective authorities. If your rent is within Rs 5000 a month, you can dedicate the rest of your budget on buying groceries and other raw materials as well as second-hand tables and chairs.

13. Fruit Juice Kiosk

Who doesn’t appreciate fresh fruit-juice on a sweltering day? To tap into this lucrative business, you have to start by requesting a permit to open a kiosk in a chosen locality, preferably one that is hard to miss. Following this, you will need to pay rent for shop-space. Other than this, the only other investment you need to put your money up for is for the purchase of the raw materials, supplies like machines for making the juice, and the salaries of the employee(s) making the juice.

15. Garment Tailor

In cities like Kolkata, Mumbai, and Delhi, the demand for good tailors has increased tenfold due to the increasing popularity of self-made designs. Other than a small rented space, you only need to invest in powerful sewing and stitching machines, and of course electricity.

16. E-Waste Recycling Plant

E-waste is a popular, informal name for electronic products nearing the end of their useful life. Computers, televisions, VCRs, stereos, copiers, and fax machines are common electronic products. While there is no generally accepted definition of e-waste, in most cases, e-waste comprises of relatively expensive and essentially durable products used for data processing, telecommunications or entertainment in private households and businesses.

17. Kraft paper from waste cartons

Paper is a major product of the forestry industry and is used widely in our society. Paper products are used not only in their obvious applications in the publishing industry and for writing on, but also in a variety of specialty papers, cardboards, brown papers, etc.

18. Papad Plant (Automatic)

These days the demand for papad is growing immensely. At present papads are in short supply in the market. It is estimated that demand for papads will keep on multiplying. Exports of papads from India to various countries over the world have been quite substantial.

19. Mobile recharge shop

Even with online recharge, in India, most mobile-users prefer visiting a recharge shop to fill their balance. So those looking to practice this business can start by renting a space in a small local shop. This rent will be the primary (monthly) expenditure. You also need to form ties with the network providers of the area, such as Airtel, Vodafone, Idea, etc, and pen down their commission rates, where they will receive a cut of your profits from the sale of the commodities taken from them. Assuming that you aren’t looking to rent out a shop-space in any expensive real-estate property, your overall costs will definitely feature below the Rs. 10,000 scale.

20. Cafe business

This is no mystery that Indians love some newly blended espresso and this enthusiasm for espresso has lead to an expansion in the cafe business in India. There has been a consistent increment in the interest for refreshments and the café or bistro design is quick turning into a mainstream decision for opening an eatery business in India. As indicated by TechSci Research report, the Coffee Shop business is required to see development at a CAGR of over 11% by 2021. This makes opening a café business very gainful whenever done right!

So these are the basic but the most profitable business ideas which can push India to the greatest heights. So take a little risk for a hugely positive outcome!

How your startup can break into the e-commerce market

Here are a few pieces of advice to provide your business with the necessary kickstart into the world of e-commerce.

It takes a lot of courage to follow your dreams, leave your full-time job, and start something on your own. It would be wonderful to believe that everything will be a smooth sail from that point on but as many new entrepreneurs know, this is rarely the case. However, this isn’t a call for you to get demoralized but to take control of your e-commerce business even before the launch to ensure the best possible start.

Having a solid foundation will help you build and adapt your business along the way instead of having to make major changes quickly which could leave serious consequences on your financial state. So, here are a few pieces of advice to provide your business with the necessary kickstart into the world of e-commerce.

Look into the competition

This piece of advice doesn’t have copying as an aim but instead, learning about your competition can show you useful pieces of information about bad practices and not just good. You also need to know what you are up against so as to focus your resources and capacities on the right cause. If a particular market is oversaturated and analyses show that it will remain so in the foreseeable future, perhaps you can opt for a niche product whose market offers more convenient conditions.

You can learn about their marketing strategies and use that knowledge to invest in paid ads or work on organic marketing more. By researching their website, you will be able to see about their return policies, shipping fees, and the level of transparency which are all vital data in terms of creating a competitive advantage for your small e-commerce business from the start.

Research the customers

Your prospective customers will be the consumers and judges of your products and services so you need to make sure their interests are satisfied. Even the most specialized niche products, such as a slick drill collar can find their customers online because instead of purchasing at their local poorly supplied dealerships at high prices, they will find exactly what they need in your online store and have it delivered safely to their business address.
To understand what moves your customers, you need to look into the age, gender, occupation, educational level, location and make assessments when it comes to creating the most efficient marketing strategy that will target just the right audience. With this way of thinking, you will minimize the bounce rate because people will not wander into your website but visit it purposefully. ’The bigger, the better’ is not always the best policy and in your case, it can even be discouraging to see a high bounce rate, so targeting the right audience is your best bet.

Tend to your website

The website and the e-commerce platform is where the magic happens. It is where those leads convert into sales and to make that happen, you need to ensure that many of the website aspects are up to par. For instance, if the website isn’t loading fast enough, you will have people leaving by the bunch without even taking a look at your offer. Also, if you are slow to answer their inquiries, you will see many abandoned carts.

The purchase page design has to be pristine because any glitch with the currency, price or irregular display of certain data can lead to customers becoming suspicious and leaving your website to find another offer that is more transparent. Even after you kickstart your e-commerce business, you need to always be on the lookout for the things that could be improved or replaced because don’t forget that success in the e-commerce business is not a spring but a marathon.

Leverage on social media

If you decided that your website will be the only place of purchase for your products, that doesn’t mean that it needs to be your brand’s only form or online presence. Social media platforms have a major influence on businesses nowadays because they allow for more direct collaboration with your customers and real-time contact, should you choose so. Different social media platforms host different audiences and offer different benefits so you need to research which would suit your customers and products best.

What’s important is that your customers can maneuver with ease to your website so it is necessary for the posts to have a link to your website. Also, it is useful to have the links to your social media profiles on your website because somebody who came straight to your online store might want to praise your product and services across different media and even become your brand ambassador. All in all, knowing what a powerful media social networks are, it would be a waste not to harness that power for your brand’s benefit.

Wrapping up

If you have an idea, some capital, and lots of enthusiasm, it is vital you prepare well before going into the world of e-commerce because no matter how specific your products might be, chances are that there is already someone with similar products on the market. Looking into your competition and your customers will teach you how to best market your products. Social media are another useful tool in this regard and they can be skillfully intertwined with your website to achieve maximum results.

Top 10 business startup ideas for 2019

Regardless of how well you run a startup, businesses that provide a product or service that nobody wishes to purchase will be unsuccessful.

The business world is booming, and an increasing number of people are going into business for themselves. While we often hear about startups that become massive successes seemingly overnight, the average startup business remains owned and operated by very few people. Beginning a startup is incredibly difficult but can be a rewarding experience over time. The ultimate success of a startup business almost always relies on the product or service being sold, and the business model behind it. Regardless of how well you run a startup, businesses that provide a product or service that nobody wishes to purchase will be unsuccessful. So, what are the top ten business startup ideas for 2019?

Dog Walking

More people than ever are working either long hours or multiple jobs which means their pets are often home alone for long stretches of time. To make sure their pets get the proper exercise throughout the day, pet owners are seeking the services of a professional dog walking business. These businesses are in charge of taking the animals out on a walk, cleaning up after them and feeding them if necessary. Dog walking businesses often grow through word of mouth between fellow pet owners so if you get the opportunity to walk someone’s pets, ensure that you do everything in your power to do a great job with the hopes of this client spreading the word.

Also read: 5 Important questions to ask yourself before pursuing any business idea

Energy Efficiency Auditor

An energy efficiency auditor is someone who will come into someone’s home and make suggestions about potential upgrades that could be done to improve the energy efficiency of the home in order to save a client money. The auditor will sometimes also quote the homeowner on the cost to have all of these upgrades completed if the homeowner does not feel they can undertake these upgrades themselves. With a growing interest in sustainability, this type of startup is currently flourishing.

Web Designer

Brick and mortar businesses are increasingly moving a portion of their business online. Consumers have a growing demand to order something from an online business and have it delivered to their doorstep just a few short days later. In order to attract consumers to online businesses, web design must be at the forefront of every online storefront. Web designers seek to make these websites as appealing as possible and business owners will pay a premium for their services. Web designers can include things like animations from animatedvideo.com which will add a unique animation to make the website truly stand out from the competition.

Also read: Top 10 best online business ideas with a low start-up cost

Search Engine Optimization Specialist

Search engine optimization (SEO) is the process of organically driving more internet traffic to a particular website by properly including more frequently searched terms in the content. This is a very time-consuming process that requires the constant care of a full-time employee or service. This is large because the algorithms that search engines use to rank web pages are constantly changing. This means that although your page may be one of the top ranked websites today, it may not be a top-ranked website tomorrow. These web page rankings can largely influence the amount of traffic to a website which in turn can support sales growth. There are thousands of online businesses who could stand to benefit from an SEO specialist making it the perfect online startup company.

Landscaping Services

Many homeowners dread the idea of using some of their free time in the evenings or on weekends to do yard work. This has led these same homeowners to hire small landscaping companies to cover the upkeep of their yards. Landscaping may require an initial investment in acquiring all of the necessary equipment like a lawn mower or electric garden blower, but as long as you take the time to maintain the equipment, they can continue to be useful tools for years to come.

Online Tutor

In the age of the internet and high-speed connections that support the use of webcams, online tutoring has become one of the most popular startup business models. Thousands of people all over the world will pay to receive English lessons online. This could turn into a full-time startup business if enough regular tutoring clients are brought on board. A demand could be out there for tutoring in a variety of subjects, someone just needs to find them.

Also read: 5 reasons why taking an online course is a good idea

Monthly Subscription Services

The idea of a monthly subscription service is very interesting for potential startups. This is because monthly subscription services can include a variety of products. The key to this type of startup is to find something that a large audience will enjoy, and then make sure there are enough variations of that product to send out a new one every month. This can include things like coffee, fashion accessories or shoes. This way, your clients can excitedly await their new package every single month.

Cleaning Services

An improving trend with today’s workforce is valuing time over possessions. This means that consumers are more willing to spend their money on services that save them time which can better be spent with friends and families. Cleaning services are a great way to save time and ensure that your home is always in tip top shape. Beginning a cleaning service involves developing a client base of customers who wish to pay for this service. When a startup cleaning business does an incredible job on a home, the client is more likely to both hire the service again as well as tell their friends and family to hire the startup company as well.

Also read: 9 ways to validate your startup ideas

Personal Trainer

The fitness industry is growing each and every year. To ensure that gym-goers are performing the proper exercises to meet their fitness goals and doing them safely, the services of personal trainers are in high demand. Personal trainers can even start their own business that includes everything from workout plans to diet plans to improve the health of clients.

Food Prep Services

Continuing with the theme of valuing time over money, more and more consumers are willing to hire a food preparation service. This opens the door for a perfect startup opportunity. New businesses are popping up left and right to provide food preparation services. Food preparation involves things like acquiring ingredients, chopping vegetables, and assembling casseroles which will save clients hours of time throughout the week in the kitchen. A startup like this is best served by someone with experience in the culinary field.

No matter what startup business you decide to begin in 2019, it should be noted that there is tons of hard work ahead of you. No startup, regardless of how great an idea or business model may be, will be successful without hard work and determination.

Also read: Some super-successful ideas which were deemed to be stupid at first

5 Important questions to ask yourself before pursuing any business idea

Starting a new business is exciting, but it is also extremely crucial for you to do your research thoroughly before embarking on such a journey.

Starting a new business is exciting, but it is also extremely crucial for you to do your research thoroughly before embarking on such a journey. It is sure to be a tough road and here is how you can prepare yourself mentally for the challenges that are bound to come your way. You need to know your customers, your product/service, and also do your market research before you make the final decision.

So, here is a list of questions that you need to ask yourself, before going ahead with your business plan:

1. Who are your customer

For example, if you are starting a Smartwatch startup, then you should define what age segment it will address to. Ideally, you would be catering to a younger demographic, so you simply cannot assume that people across all age groups would be interested. You need to be specific about your customers.

If you are starting a media company, then specify whether it would cater specifically to men, women or would it be a conventional media company, or even a news portal.

Similarly, if you are developing a CRM (customer relationship management) app, then ask yourself whether you would be targeting big established chains or the main street dealers. For a business to be successful, you should know all about its potential customers, because, in the end, it is them who you are catering to.

Related Post: 10 Step guide to launch your own startup

2. What exactly does your customer need?

This is one of the most important questions you need to answer before embarking on the journey of starting a business.

In most cases, this question is what gives you an idea about your startup. You need to know what exactly is your customer’s problem that your service or product would solve. You need to identify if it is a need or a want.

For instance, let’s take an example of Elon Musk’s startup journey. He started an online payment company X.com, which later became Paypal and made the process of transacting money hassle-free. He now heads The Boring Company, which is focusing on making travel easier for the public. He identified a problem and started creating solutions.



3. Are your customers already addressing that need? If yes, then how so?

It is basic common sense to ask yourself this question in order to provide your customers with a better solution. You cannot simply assume that your customers are not addressing this need today. They might be doing it, even though with a less efficient method. Before we had subscription services like Netflix, people used to, and a majority of people still have a cable connection or a dish service.

So, assume that a solution is already there and people are using it. You simply need to know if you can make it better.

Related Post: 5 deadly marketing sins your startup / small business might be committing

4. What is your product/service?

This one is a bit tricky as it needs simplification. As Albert Einstein said, “If you can’t explain it to a six-year-old, you don’t understand it yourself.” Well, you might not need to explain your plan to a six-year-old in this case, but certainly to adults who have no idea of your domain.

Many a time, people have no idea of what it is that you are providing. Is it a service, a product or a combination of both? Run your product description by people you know and get their feedback. How will people buy your product if they do not know that they need it?

Related Post: How to start or expand the small business online

5. How will your customers benefit from this product/service?

This is a crucial question that an entrepreneur or a business person often comes across. There are chances that you get swept away by the sheer brilliance of your product idea, that you don’t stop to think if people need it or not. If your customers won’t benefit from it, then maybe you need to rethink your business plan.

Asking yourself tough questions like this will help you build a stronger business plan with more chances of success.

Related Post: All you ever wanted to know about a business plan





14 Things no one tells you about starting a start-up

We asked 14 young entrepreneurs what the one thing no one told them.

We all have ideas about how starting a company will be. You’ve heard about the hardships, are aware of the perks, and are ready to tackle the challenges.

Like anything, though, there’s always going to be things you won’t know until you get your feet wet.
But what if we could get an inside glimpse? To learn the less-common things to be prepared for, we asked 14 young entrepreneurs what the one thing no one told them – the thing they wished they’d known – was when they started. Here’s what they had to say.]

1. There Are Incredible Highs And Lows

Running a startup is truly like riding a roller coaster that doesn’t stop. I’ve had some of the highest highs and the happiest moments I could remember while running my business. But it also comes with some of the lowest lows, and I’ve endured many sleepless nights. Rarely are there any feelings in between, but I think it’s important to celebrate even the smallest of victories. -Ross Cohen, BeenVerified

2. Networks Are Critical

I started off as a solopreneur with a small freelancing gig. For the first six months, things were very slow. However, when I joined my first official mastermind networking group, the business took off immediately. Surrounding yourself with the right people from the start (ideal clients, business mentors) will help you tremendously both when you’re starting up and down the road. -Patrick Conley, Automation Heroes

Also Read: 7 Things I learned from my first startup failure



3. Camaraderie Is Important

I wish someone had told me to be prepared for the feeling of isolation at times as an entrepreneur. On a daily basis as an entrepreneur I am faced with new challenges, many of which I must tackle alone. I have since brought in others to assist in building the business. Knowing that you are going down the path together definitely brings a feeling of camaraderie to the company. -David Schwartz, EMMDeavor (DBA Qruber) and Wireless Watchdogs

4. Mentors Are Necessary

Having someone who has walked the path as an entrepreneur is vital. You can gain wisdom from your mentor’s experience and discover insights that you would never have had before. I’ve missed out on so many opportunities to build my ideas because I didn’t have someone to shine a light in the right direction. Having a mentor is imperative. -Rob Fulton, Matikis

Also Read: 15 quotes which will motivate you to follow your dreams

5. There Is No Set Path

You have a big dream and you know exactly how you are going to get there—until it all changes. It’s great to have a business plan and a strategy, but I wish I had known that it is totally OK if you have to change directions. In fact, that’s good business! -Vanessa Van Edwards, Science of People

6. There’s No 4-Hour Work Week

Don’t get me wrong – I love that book. But no one ever told me that I would be trading my 50-hour work week for a 100+ hour work week when I first started my company. The one piece of advice I would give new entrepreneurs is to plan on investing all of your time and then some if you plan on being successful. It’s worth it in the long run! —Roger Bryan, Enfusen Digital Marketing

Also Read: 12 Signs that you need to grow up and stop ruining your opportunities for success



7. Everyone Has Unsolicited Advice

No one told me just how opinionated others would be about my business. People will come out of the woodwork with what they believe to be sage advice, when they’ve never even been in my shoes. People who have had corporate jobs all their lives will tell you exactly what you should be doing to run your business. Just nod and smile. -Maren Hogan, Red Branch Media

8. Early Success Is Temporary Luck

When you start a new business and achieve some early success, you need to be disciplined to always keep your ego in check and keep your starting vision in mind. I learned this lesson the hard way when I divided my team’s focus early on in favour of building an unproven product. Avoid the same mistake by staying focused. The best entrepreneurs are paranoid and never believe their own press. -Matthew Ackerson, Petovera

Also Read: 8 powerful tips for entrepreneurs to excel as a public speaker

9. Advisors And Consultants Are Useful

When starting up, I bootstrapped in every sense of the word. While this enabled me to propel my company forward, it was the hours of consulting and advising from industry experts that truly helped me make positive, long-lasting business decisions that continue to have a strong impact on my company and its success today. -Zach Cutler, Cutler Group

10. Starting Up Is Unpredictable

Oftentimes people compare their expected entrepreneurial journey to what they hear or read about from others who’ve succeeded, and assume their experience will be similar. Or, they write a business plan and anticipate it will go according to that plan. Rarely do people let you in on the secret that your plan will not be the way it looks—it will be a meandering path, not a straight one. -Darrah Brustein, Network Under 40 / Finance Whiz Kids

Also Read: 8 Obvious signs you were built for entrepreneurship



11. Partnerships Can Be Good

Partnerships can be challenging, but they can also be rewarding. If you are really going after a game-changing concept or something big, odds are a partner is a good thing. They can help carry the workload and keep the vision or dream going when things get tough. -Matt Ames, MN Pro Paintball

12. Learning From Other Entrepreneurs Is Invaluable

One of the most impactful ways that I was able to grow and succeed as an entrepreneur was by connecting to and learning from other entrepreneurs. Nobody ever told me this or mentioned this to me. Immediately connecting to other people who have been there is crucial for your success. Learning from others’ successes and failures will accelerate your growth process. -Matt Shoup, MattShoup.com

Also Read: 10 Things I wish I’d known when I started my start-up

13. Ideas Themselves Are Not Worth Much

I have seen many early entrepreneurs get excited when they think they have a billion-dollar idea. We feel that just because we thought of it, we own it. Here is the bad news: Chances are that multiple people have tried most of these ideas in some shape or form. In most cases, it’s your team and your execution that will differentiate you rather than the idea itself. -Karan Chaudhry, DropThought

14. Family Comes First

Family should always come first. You’re going to take big risks and risk almost everything, but I recommend that you never risk losing your family for your entrepreneurial adventure. It’s really not worth losing what’s most important in your life. -John Rampton, Adogy

Also Read: 6 ways to fall in your love with your work all over again





How to find the right business startup for you

Keep these five factors in mind when determining the right business startup for you.

Do you want to be an entrepreneur and work for yourself? You’re not alone. Finding the right startup business is one of the most popular small business subjects today. Everyone wants in on what’s hot. Riding the wave of a hot market is much easier than spending all your time and resources educating a market without a real need. So finding a hot business opportunity is the first step. But once you find that hot idea, you will need to evaluate whether the business makes sense not only in the market but also for you.

Keep these five factors in mind when determining the right business startup for you.

Know Your Strengths

Using your strengths can help you excel in any business, but the reverse is also true. While your business will most certainly push you to grow, if the business requires you to go way outside of your comfort zone, you might be fighting an uphill battle. Consider your greatest strengths and find something that more closely mirrors your skills.

Related Post: 20 Questions you have to answer before starting your business

Match Your Passion With Consumers Need

There is a common saying “do what you love and the money will follow.” However, passion is only part of the equation. In reality, do what you love and the money may or may not follow. If your passion is refrigerators and the world is in an ice age, your market has no need. It’s vital to put your passions and motivations aside and look at the hard realities of the market, what people want, and what they are buying now.

Choose The Right Market

Many entrepreneurs and small-business owners spend too much time focused on their product or service and not enough time on finding the right market opportunity. Without the right customers, you won’t have revenues, profits or much chance of success. It’s important to determine if you are going after the right market.

Related Post: How to get over excuses for not starting your own business



Know Your Financial Limitations

No matter how hot a business opportunity may be, if it exceeds your startup and seed money, it’s not a great business for you. Carefully determine the complete cost of starting your business and how long it may be before you start turning a profit. You can try to raise money but the odds of getting venture capital are very low. Start a business within the reach your financial abilities.

Related Post: All you ever wanted to know about a business plan

Think Long-Term

A hot business opportunity should be based on a long-term trend, not a short-lived fad. Look at the business overall. Is the industry growing consistently year after year? Can you get in at an early stage or is the market already saturated with competitors? The challenge is to look beyond the hype of companies and media and see the trends from the fads.

Starting a business is no easy endeavor, but the time, effort, and challenges can be worth it if you succeed. To give yourself the best chance to be successful, take your time to carefully find the right business for you.





How to start a startup in college

Starting a startups is difficult, there are many twists and turns, ups and downs throughout the process.

Starting a startups is difficult, there are many twists and turns, ups and downs throughout the process. This infographic will tell you how to start a startup in college along with what are the strengths of young founders.

 

Image credit: www.slate.com



Entrepreneurs: Fight procrastination and do the stuff right now

For some of us, procrastination isn’t an occasional kind of thing. It locks us in a vise grip and comes to define the way we approach everything.

“Never leave that till tomorrow which you can do today,” said Benjamin Franklin.

Pretty good advice, especially considering it comes from a guy who was an absolute whiz at productivity (Franklin was somehow an author, printer, politician, postmaster, scientist, inventor, civic activist, statesman and diplomat).

Recognizing the wisdom in the aphorism, however, won’t stop most of us from putting off the “no-more-delaying-ever” regiment until tomorrow. (Which isn’t always so terrible: We’re not robots, after all, and leaving a project unfinished so we can hit the beach every once in a while keeps us human.)

But, for some of us, procrastination isn’t an occasional kind of thing. Instead, it locks us in a vise grip and comes to define the way we approach everything. If you’re like this, you know the exhausting ritual well: voluntarily delay a necessary task until the panic about meeting a deadline finally outweighs inaction. Not only can it send you into an unhealthy and crippling shame-spiral, it’s also one giant productivity killer.

Why are some of us more susceptible than others? Like most personality traits, a recent study published in Psychological Science finds, it has a lot to do with our genes.

Researchers at the University of Colorado at Boulder surveyed 181 pairs of identical twins and 166 pairs of fraternal twins about their work habits. Compared to fraternal twin pairs, identical twins reported stronger behavioral similarities regarding their ability to set and meet goals as well as their tendency to act impulsively. Based on this, the researchers concluded that procrastination is, at least in part, heritable and has a strong genetic overlap with impulsivity.

Impulsivity probably had an evolutionary advantage, Daniel Gustavson, the study’s lead author, says. For our ancestors – struggling to survive in a dangerous world, fast and decisive decision making was more important than long-term planning. Procrastination either evolved at the same time as impulsivity, or “evolved as a byproduct of it,” he says (when we’re impulsive, we become distracted from — and thereby put off — long-term goals). Unfortunately, circa now, where both goal management and the ability to delay gratification is rewarded, these two intertwined genetic traits hurt rather than harm.



But before you start blaming your penchant for leaving everything to the last minute on mom and dad, remember: most of our personality traits are, at least in part, heritable. The last thing the Gustavson wants is for people to read about his study and conclude: Welp, guess that means I’ll never change. “When people see big genetic influences on a trait, they often think they can’t do anything about it,” he says. “And that’s not true. Just because something is heritable doesn’t mean it can’t be changed.”

Tim Pychyl, a psychology professor at Carleton University in Ontario, Canada, and the author of ‘Solving the Procrastination Puzzle’, agrees.

The way he sees it, our limbic system (the ancient, reptilian part of our brain which just wants to feel good now) is in constant battle with the prefrontal cortex (a section that developed later in our evolution, responsible for executive functions and impulse control). Inevitably, the limbic system sometimes wins out. “It’s human nature to procrastinate,” he says. “You have to realize that you’ll screw up sometimes but you can change if you really want to.”

For all of us wrestling with genes that scream, “delay, delay, delay,” Pychyl shares a few strategies to help the prefrontal cortex emerge victorious.

Understand the true definition of procrastination.
This is super important. There are many forms of delay that are beneficial – life, of course, is a constant succession of tradeoffs. Often, you need to hold off on a project because something more pressing has come up. That’s not called procrastination, though. That’s called making an informed decision.
Procrastination on the other hand, says Pychyl, is never positive. “Anyone who thinks it has an upside is messing with the definition.”

Some of us may develop a warped, protective relationship with our tendency to procrastinate (see tip No. 2), but while there are many reasons why we do it, “none of them are healthy,” Pychyl says. “There’s no virtue in it.”

Stop making excuses.

This is closely related to Pychyl’s previous point. Procrastination is a voluntary delay of a beneficial intended act, and therefore causes uncomfortable dissonance, which we attempt to ease with a string of excuses.
The most common: I work better under pressure. “That’s nonsense!” Pychyl says.

“Everyone makes more mistakes under pressure – that’s been shown again and again. What you’re really saying is ‘the only thing that can motivate me to work is a huge amount of time pressure’…and there’s certain pathos in that.”

While procrastination can cause individuals to hyper focus, it’s simply because their backs are against the wall. The same amount of attention to detail – flow, as Pychyl calls it – is possible even when you aren’t under a time crunch. Learning how to voluntarily achieve a flow state requires time and effort but it’s the secret to productivity. Procrastinators, he says, need to realize that it is possible to concentrate without the motivation of deadline-induced panic. It just takes practice.

Minimize distractions and set strict deadlines.

If you have every distraction available at the push of a button, you’re more likely to check Facebook, check your emails, and suddenly three hours have gone by. Distractions, of course, decrease productivity for everyone, but for the chronic procrastinator, they’re real time-suckers. It’s better to eliminate as many of them as possible (be that blocking Facebook, deleting Solitaire off your desktop, whatever you have to do).

In addition, set a strict schedule for yourself. “Autonomy is good for non-procrastinators, put procrastinators need short, concrete deadlines,” Pychyl says. For managers dealing with procrastinating employees, Pychyl recommends having them articulate their goals in concrete terms. Specific details – rather than a vague “I’m working on X project – helps hold procrastinators accountable. Have them make implementation intentions rather than goal intentions” he recommends.

Don’t let your inner 6-year-old dictate your actions.

“I don’t know where we learn this, but somehow we internalize the notion that our motivational state has to match the task at hand,” says Pychyl. “We don’t feel like doing something, and we think that’s a reason!”
He calls this logic 6-year-old thinking. In reality, “For many of important tasks, if not most of them, getting started has nothing to do with how we feel.”

Still, we often dismiss the notion of getting started today with the perpetually hopeful “I’ll feel more like it tomorrow.” We almost never do, though, and so the task gets pushed off again. Why, then, do we persist in maintaining the delusion that a repellent task will be magically rendered less aversive in a mere 24 hours?

We tend to predict our future feelings based on present feelings, Pychyl explains. (Think about shopping for groceries on an empty stomach versus after you’ve just eaten a huge meal – most likely, your cart will be more crowded, even though rationally you know the week ahead requires the same amount of food). “When you decide to procrastinate, you relieve some stress which makes you feel good. So when you predict how you’re going to feel tomorrow, you base your prediction on your current mood.”

In addition, brain scans have shown that we tend to think about our future self as we would think about a stranger (known as temporal discounting), which explains why we often overestimate our ability/desire to accomplish an unappealing but necessary task three weeks from now.

The biggest myth that procrastinators need to dissolve if they want to break the delay cycle? “I’ll do it tomorrow,” says Pychyl. “Once you realize that this is an avoidant coping strategy, you’re on your way.”

Image Credit: incolors.club