Start Any Startup Business & Small Business From Scratch Keep These Things In Mind.
Startup Business is flying in India, It is increasing day by day and after web series launched called TVF Pitchers startup become the craze for the person who never thought about it. Let’s see how to start a successful startup business from scratch.
Starting up a business is not all about. How you implement & execute each aspect of the business is does matter.
Recently you heard that most of the business has been shutting down due to capital so what are the reason behind it. Today we will learn how to start from scratch to make thriving business, How to change the idea into the profitable venture.
Let’s explore how to start a successful startup business from scratch
The idea to Start a Successful Startup
Start working on your idea, make a proper business plan for the next 1 year at least, you won’t get a result in 5 to 6 months so always consider this. Most of the entrepreneur starts working on the idea and left that in a few months so keep patience and write every aspect of business in the business plan.
Do research and Survey to know the trend of Market.
Do you have faith in your idea or do you research about the idea? If no then please do it both the things do matter in every situation. For validating the idea invest in a survey like run a small campaign about your product and services on social media see how people reacting on that. You will get a basic idea of your business.
Capital to start a successful startup
Now don’t start a startup for funding in 2019. Funding is very difficult you will have to show some traction to the investor. For traction, you will have to invest your own money. We suggest don’t follow the investment, follow the idea and passion because the investor will follow you once you validate the idea.
For initial investment arrange itself borrow from family and friends. Even suggest you don’t go to Bank If you have another option.
Make USP for a successful startup
You must have a unique selling point like if you are doing a startup of service which exists and already running buy other people or Launching the product but same product is available in the marketing then why people buy from you so this is the key factor to consider. Make USP.
Choose Legal Entity Type Then Choose Company Registration.
If you don’t sure about an idea or don’t have much capital then at the initial stage of an idea or you are writing a business plan please skip PVT LTD or LLP for the next few months. First of all make partnership deed if have a co-founder, either proprietorship deed, make PAN Card, and another license, open a bank account in the name of the firm.
After all, start working on website and app, make pages on all the social media platform and promote the business in full phase.
Because PVT LTD companies have huge compliance at an early stage of a startup. Most of the entrepreneurs feel difficulties to manages. There is a huge penalty if miss any compliance. The company becomes your liability.
Promotion for a successful startup
Make a stunning website now it is more important than ever to appear on google while potential customer & clients looking for your services. SEO your website, List on Google My Business, Use WhatsApp Business App, post content on all the social media, share on Facebook in the groups.
Now for promotion don’t make a pamphlet and banner, because time is changing and traditional marketing moving to digital marketing.
Even such banner and pamphlets cost much higher than digital marketing. You Can’t even measure the success of marketing in traditional marketing So there is lost of disadvantage. Go Digital #TryDigital
Start social media and google ads because organic reach takes time for instant result and traffic . Start ads as per your budget and other aspects.
If your business type doesn’t require an office in the corporate area then avoid renting an office in such area, Rent office at low cost and reduce operating cost and invest in marketing, don’t invest hugely in decoration at an early stage of business.
Focus On Employee Hiring Process.
Hire smart people at an early stage and don’t hire more then you require. Keep the staff which is very important if you can manage itself then avoid and control on operating cost but don’t adjust with quality work and service. Operating cost plays a vital role in capital management.
Buy Accounting System For Better Book Keeping and Financial Analysis.
This is very important to check where your business is going on. In accounting software, you will keep all day to day transactions and expenses so that will give highlights of progress each and every month. Accounting software also helps you to file income tax returns accurately, you can also keep the client data safe, you will know who is the creditor and debtor.
Happy Startup journey