Category: Startup

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Startup

Planning To Start a Business in Beauty Sector? Here Are 4 Tips You Should Know Before You Begin

Beauty Sector (Photo Credits: Pexels)

The beauty sector is among the fastest growing sector. This sector is witnessing constant innovations as new beauty products and services are being launched at regular intervals. Despite the uncertainty that COVID-19 has brought, the beauty and cosmetics businesses have skyrocketed. Over the next few years, the beauty market is expected to continue to rule the retail industry. If you are planning to try your luck in this sector, then this is the best time to get started. This could be a great year for those who want to try their luck in the market. One thing that you should keep in mind is that starting a beauty business can also prove dangerous if managed with poor planning.

Keep Up with Trends

You need to be really well-informed about the latest beauty products in the market to keep your game up the mark. You can’t really run a successful beauty business without following the latest or current trends. This is a very competitive market and you need to always be one step ahead of your competitors. If you are new to this sector, you can subscribe to a variety of well-known beauty/fashion websites to stay updated on their latest products.

Choose a Product

The most important thing that you need to do is ‘Choose a product’. You have to decide on a product that you can create with a unique touch which will make you stand out from the rest in the market. Try and understand what interests you the most and also ensure there is a demand for what you want to produce. Start with only one or two cosmetic products before growing your business. By choosing one or two beauty products, you can perfect the process and know about the wants and needs of your customers.

Use Technology to Spread The Word

In this digital era, consumers use various channels to shop. People are highly dependent on online shopping and have become really techno-savvy. Thus, make sure you make it easier for them to find your brand online. Make your brand visible via online mode and target your consumers by promoting your products through social media platforms like Facebook, Instagram, WhatsApp among others.

Get Funding

If you are planning to start a business, it will requires a healthy amount of investment to get started. Try and meet people who you think can sponsor things to help you grow. For cost-cutting and to get a hang of things, you can opt for second-hand equipment for your business. If you are planning to take your business forward with an investor, determine if you want a partner who is hands on or you want a silent investor. Investors could be family members, friends or business associates.

 

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Startup

Planning to Start a Tourism Business? Here Are 4 Revenue-Boosting Tips for Small Businesses in Tourism

Tourism Business in India (Photo Credits: Pexels)

The tourism sector in India is going to be the next growth driver but to achieve that, it needs to survive the impact of the COVID-19 pandemic and emerge to be one of the leading industries in the country. As the country battles the coronavirus pandemic, every sector that has been hit hard is limping back to normalcy after the government has eased the restrictions. At present, each vertical of the tourism industry is under deep stress and hopes to revive in the coming year.

The travel industry is booming with small tourism businesses now. So if you are planning to start a tourism business, the New Year is the best time! There you have it, now it’s time to get marketing, so don’t hold back. Here are 4 revenue-boosting tips for small businesses in tourism.

Expand the business beyond your website

People usually review a place when they wish to plan a travel. A thorough study is done of the location and what it offers. Online searches have become increasingly competitive, even amongst the big companies. One way to expand your business beyond your website is tie up with third party-platforms which provide an online marketplace for travel experiences. They can offer a lot of exposure, for small travel companies and demand a small commission.

Build a Discussion Platform on Social Media

Social media interaction is growing and you need to just talk about your website and promote it to people across groups.  People visiting your area will have plenty of questions that they need answered before they come. Create a discussion platform where people can come and discuss out places they want to visit. A great way to supercharge your tourism marketing is by creating a discussion platform around your Facebook page.

Create Awesome Destination Videos

Videos help a lot in spreading awareness. The world is moving into a digital era and is more inclined to video content more than just reading about things. Videos have a potential to convey a lot of information in very little time, so it’s a great way to showcase about what you can offer to your customers.

Generate interest about a destination with online quiz or a challenge

Challenges have become a well-loved internet sensation and attracts a lot of people at the same time. Promoting your business cannot get as easier as this one because people are far more likely to participate and share with their networks. One thing that you need to keep in mind is that you should create a fun challenge related to your niche.

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Startup

Planning to Start Your Own Business in 2021? Follow These 5 Rules For a Successful Start-Up

Tips to follow for successful start-ups| Representational Image (Photo Credits: Pixabay)
Tips to follow for successful start-ups| Representational Image (Photo Credits: Pixabay)

The Indian start-up ecosystem is blooming, with more and more individuals giving up their regular jobs and taking the path of entrepreneurship. As per the Economic Survey for 2019-2020, India now ranks in the number of new firms created annually. Quoting the data from the World Bank, the survey concluded that number of new firms in the formal sector has grown by a significant 12.2 per cent between 2014 and 2018, compared to a meagre growth of 3.8 per cent from 2006-2014.

From idea generation to implementation, starting a business takes a lot of efforts, dedication and perseverance. A start-up founder should be extremely careful while making entry level decisions as the initial success of the business depends upon them. Having a business of your own does look like a Herculean task, but with proper research and guidance, starting, surviving and being successful in the business is not impossible. Being a Solopreneur: 5 Business Tools to Grow your Business.

Here are Five Golden Rules Every Entrepreneur should follow to Make the Start-Up a Success: 

Undertake Market Research and Analysis

The first and foremost rule of any business is to properly research the market. This includes analysing the market demand, competition, price range, and channels of distribution among others. Understanding customers’ taste and preferences is also an essential pre-requisite of launching a product or service. Analysing the market trends and patterns help the entrepreneur to make informed decision and deal wisely with external environment challenges. 7 Powerful Marketing Ideas to Boost your Business in 2021.

Ensure Constant Funding

A start-up needs steady and committed sources of funding to establish itself in the market. Many start-ups shut down in the initial years owing to lack of finance. Before jumping into the market, the entrepreneur should ensure that the business has adequate source of funds and have an access to a regular stream of finance. Various private and public sector banks, venture capitalists, angle investors, government grants are among secured source of finance for start-ups.

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Devise Comprehensive Marketing Strategy

For a business to establish itself in the market, it needs to be visible to its potential customer. Marketing and advertising helps the start-ups to increase its reach. Entrepreneurs should carefully choose their marketing plan and advertisement campaigns. Ads should convey real vision of the business and create a positive image in the minds of the people. Efficient marketing policy also helps in generation the ‘want’ for the product among the potential customers, thereby increasing sales and profits.

Know Your Customers

It has been rightly said and preached for generations that ‘Customer is the King.’ Every entrepreneur need to believe and follow the same. Knowing the customers in extremely important as their attitude, preference and tastes effect the business’s offering. Start-ups should avoid indulging any activity that might upset the customers. Businesses should understand the overall society as well, the cultural and social environment also effects the functioning of the start-ups.

Comply With Legal Requirements

In order to undertake various operational and production activities without any hindrances, businesses should make sure that they comply all the legal requirements. There are various legislations that govern any business, to avoid any penalties or fine, entrepreneurs should make sure that all laws are abided by. These include laws related to incorporation, labour, product, customer safety among others.

Apart from these, entrepreneurs should also focus on sticking to the budget, garnering knowledge about the various aspects of business. Start-ups also need a strong and dedicated team of employees to achieve its goal. Starting a business is indeed a big and courageous step which requires perseverance and dedication. However, with proper knowledge and hard work establishing and succeeding in business world is not impossible.

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Startup

Startups in India Bagged $9.3Bn Investments in 2020 Despite COVID-19 Challenges: Report

Startup
Startup (Photo Credits: Pixabay)

Amid the COVID-19 pandemic in India, the startups have been hit hard but have managed to emerge successful in attracting investments this year. According to data from consultancy firm Tracxn, Indian startups received investments to the tune of $9.3 billion in 2020 despite the coronavirus challenges. The report reveals that fortunes for the Indian startups turned significantly in the second half of the year. The study reveals that startups raised just $4.2 billion in the first half of the year from about 461 deals while the year saw 11 Indian startups including RazorPay, Glance and Unacademy becoming a unicorn.

According to a report by IANS, the figure is much lower than the record $14.5 billion raised by Indian startups last year as the number of deals this year reached 1,088 from 1,185 last year, TechCrunch reported on Monday. Reports inform that there were 20 funding rounds with dealsize $100 million or larger in 2020 compared to 26 in 2019. Similarly, rounds with dealsize $50 million to $100 million fell to 13 in 2020 from 27 last year. Moreover, the figures exclude the funds rasied by Jio Platforms, which alone bagged over $20 billion investments this year.

The Tracxn report further adds that global technology giants like Google, Microsoft and Facebook wrote checks for Indian startups, while Chinese giants such as Alibaba and Tencent made fewer investments amid border tensions with India.

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Startup

4 Simple Business Tips That Will Help You Stand Out From Your Rivals in the Competitive Market

Businesses (Photo Credits: Pexels)

For any business to flourish, it takes a great deal of understanding of the market, your product and its need in the market and your target audience. Communication certainly plays a very important part in growing any business, be it online of offline. Few things that will help you stand out from the rest is, know what your customer wants and try and satisfy their demands, timely communication with them and not compromising on follow-ups. You have to understand that for every success you have in growing your market share, other businesses will inevitably lose ground, and you will surely have rivals in the market.

The key factor is that you should establish your business in such a manner that you are not affected by any new entrant in the market. Here are four easy business tips to gain a competitive advantage over your rivals. You can use these tips to insulate yourself from the threat of new businesses in the market.

Provide Solution, Don’t Just Sell Products

Unless you are a known brand, people don’t really search for you as a ‘brand name’. People are just looking out for things that can help them solve a problem or find a particular type of product. If you want to make a difference, you should convince the customers by explaining them in simple terms of how or why your product can help them in solving their problem.

Take Friendly Customer-Facing Staff On Board

This is an important point that every entrepreneur should keep in mind. People tend to buy a product also because the sales person who’s attending to them is just up to the mark, with impeccable skills and behaviour.  Friendly, outgoing and cheerful customer-facing staff will always attract more sales and more people, thus helping you grow your business.

Watch: Low Investment | Business Idea | Dr Vivek Bindra

Own Your Niche

Understand your expertise and go ahead with it. Speciality will really bring you genuine customers. People usually attribute ‘specialists’ with higher quality products that the others who act like ‘Jack of All Trades’ but are a master of none. Your speciality should be kept exclusive and you should try perfecting a single product or service. It should certainly be something that you excel in and have a thorough knowledge about it.

Be Humble And Down To Earth

Always be open to leaning news things and don’t ever get too satisfied with your business. There is always scope for improvisation! Even if your business does wonders and flourishes in no time, don’t get carried away by the success. Always keep in mind that popularity is a double-edged sword! Remember the lessons you’ve leant and heard about the downfall of countless hitherto thriving brands. Market leaders tend to get lazy and complacent when they realise their business is going good.

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Startup Technology

4 Ways to Grow Your Business Online Without Spending a Lot of Money

Online Business
Online Business

Going digital is the trend today, so if you have an online business, it will surely grow over the time without any doubt. If you are planning to  start an online business, then you cannot afford to waste money at the initial stage. You don’t have to put in a lot of money into growing an online business. In reality, there are certain things that you can do  without spending any money at all. It just takes little creativity, effort and imagination. Take a look at these 4 ways to grow your business online with a small budget.

Create Rich Content Online

Rich content will always attract readers. Whether it’s a company blog or a product description, Creating high-quality content should be the main focus. For this, you need to really think out of the box and be creative enough to lure the readers with you writing skills. Use facts appropriately and try and engage the readers so that they are engrossed in the write-up. Only if this happens, your online business. In short, it is all about how well you can manage to engage the audience with what they need.

Design Layout and Presentation

The first thing about online content is how it looks when the reader sees it. The layout of the firm, be it any firm, should be appealing to the eye. It shouldn’t be tacky and haphazardly presented. You need to understand your target audience first- youngsters, middle-aged or any other category, and choose colours and layouts accordingly. You should remember that more than one-third of visitors will leave a site if the layout is poor. All that you should keep in mind is the choice of the colour, graphics and even the overall layout of the site. Your aim should be to deliver a pleasant visual and functional experience to people visiting the website.

Watch: Low Investment | Business Idea | Dr Vivek Bindra 

Be Mobile-Friendly

Not everyone carries a laptop or a tab everywhere they go, right? So the basic thing that one should keep in mind is to have a mobile-friendly website. Most people these days surf online from their smartphones. Your website should have a mobile variant like an app so that it becomes hassle-free for your customers.

Be an Active Participant in Online Communities and Use social media

Social media can help your business reach more than lakhs of people in single day. Facebook, Twitter, YouTube, LinkedIn, and other social media platforms have highly engaged users and can help you fetch business and establish your brand identity. Moreover, be active in online communities where people go to post their questions, find content, and explore. Top communities on the internet that are really popular include Reddit, Quora, TripAdvisor among others.

 

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Startup

Loan App Scams: RBI Cautions Against Loans Offered by Unauthorised Platforms, Apps, Here’s How People Can Avoid Falling Prey to it

Scam
Scam (Representational Image) (Photo Credits: Pixabay.com)

Mumbai, December 25: Loan app scams have surfaced lately and a result of which, RBI cautioned people asking them to be careful. Loans are being offered by unauthorised digital platforms, mobile applications promising a quick and hassle-free process.

RBI Cautions People Against Loans Being Offered by Unauthorised Platforms, Apps Promising Quick & Hassle-Free Approach

Several individuals/small businesses have fallen prey to the growing number of unauthorised digital lending platforms, Mobile Apps on promises of getting loans.

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Here’s what the scam is:

Loans are being offered by unauthorised digital platforms, mobile applications promising a quick and hassle-free process. Excessive rates of interest and additional hidden charges are being demanded from borrowers. This also follows high-handed recovery methods are being done.

Several unauthorised apps are involved in the scam, to name a few would be-Hey Fish, Monkey cash, Cash Elephant, Loan Zone, Cash Zone, Water Elephant, Mera Loan. Some instant personal loan apps involved were are Cash Mama, Loan zone and Dhana Dhan.

Here’s how people can avoid falling prey to such scams:

  • Don’t share copies of KYC documents with unidentified persons, unverified/unauthorised Apps
  • Fraudulent activities can be reported to law enforcement agencies or RBI’s Sachet portal (https://sachet.rbi.org.in)

    It is very important for people to be careful and as fraudsters are always finding ways to dupe people.

 

 

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Startup

National Startup Awards 2021: DPIIT Invites Entries to Reward Outstanding Startups; Know Eligibility, Prize and How to Register Online at startupindia.gov.in

Startup
Startup

The Department for Promotion of Industry and Internal Trade (DPIIT) has launched the second edition of the National Startup Awards (NSA) 2021 and have called for entries to reward the outstanding startups. This initiative by the DPIIT aims to acknowledge  the efforts, initiatives and resilience demonstrated by the startups over the period of unprecedent challenges during the pandemic.

This year, additional categories have been introduced to NSA 2021. The NSA aims to recognise innovations focussed towards indigenisation of key products essential for realisation of an Atmanirbhar Bharat.

Here’s How to Apply for National Startup Awards (NSA), Eligibility and More

  1. Startups can register for the National Startup Awards (NSA) 2021 on www.startupindia.gov.in. The applications for the awards are open till January 31, 2021.
  2. The awards for startups will be given in 49 areas classified into 15 broad sectors. The 15 sectors are Agriculture, Animal Husbandry, Drinking Water, Education and Skill Development, Energy, Enterprise Systems, Environment, FinTech, Food Processing, Health and Wellness, Industry 4.0, Security, Space, Transport and Travel.
  3. In addition, there are six special awards for startups from educational institutions, making impact in rural areas, women entrepreneurs, potential for import substitution, innovation for combatting COVID-19 and content delivery in Indic languages. It will also reward exceptional incubator and accelerator as key building blocks of a robust startup ecosystem.
  4. All the other details of the application process may be seen at www.startupindia.gov.in.

Awards for National Startup Awards (NSA) 2021:

  1. A cash prize of Rs 15 lakh each will be awarded to one winning incubator and one winning accelerator as well.
  2. A cash prize of Rs 5 lakh each will be awarded to the winning startup in each area.
  3. The winner and two runners up will also be given opportunities to present their solutions to relevant public authorities and corporates for potential pilot projects and work orders.
  4. They will also be given priority for participation in various national and international startup events. Click Here for more details on awards.

DPIIT had initiated the first ever National Startup Awards in 2019 with a view to recognize and reward outstanding startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact. Taking forward the overwhelming success of the first edition of NSA, DPIITnow announces the launch of second National Startup Awards 2021.

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MSME Sales Startup Strategy

4 Successful Tips to Run Discounts & Special Offers For Your Business Ahead of Christmas 2020 & New Year

Discounts, Special Offer
Discounts, Special Offer (Photo Credits: Pixabay)

Mumbai, December 24: 2020 was an extremely difficult year for most sectors due to the lockdown amid the coronavirus outbreak. However, towards the latter end of the year, green shoots of recovery were seen as the economy started to open up.

So far, the festivals have been lacklustre in India because of several other factors, including people not willing to spend on unnecessary things. However, the sentiment has picked up and there is a momentum in sales as we approach the year-end.

If you have an online business or a store, then you can offer some discounts to entice your customers for Christmas and New Year. However, promotions and discounts should be given in such a manner, so that they don’t eat up the profit margin and help you in increasing sales.

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Define your objective: 

Before you start any promotional offer, you should define the objective. What is the purpose of running this sales offer? Is it to get new customers or target the existing customers? Is it to increase sales or hook them to your brand. Be clear in your head with these answers.

Should have a fixed timeline:

Sales, discounts and any offers should be there for only a limited time period. The promotion of your brand should clearly mention the start time and the end time.

Market well:

If you are running a sale and your customers are not only aware of it, then the entire purpose fails. Therefore, make sure to advertise your promotional offers, incentives properly. Promote the news of your sales on social media. Spend money to run promotional campaigns and target audience based on your location and TG.

Track Your Results:

After any campaign, it is very important to track your results. This will help you to understand your customer behaviour, which segments are responding better to your campaigns or which type of campaigns are more effective. You need to study the results and this will help you to run your next campaign

We hope that these tips will come in handy for your business and you run successful marketing campaigns.

 

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MSME Startup

Kisan Diwas 2020: Here Are 4 Agriculture Business Ideas Which You Can Start in 2021

Organic Farming
Organic Farming (Photo Credits: Pixabay)

Mumbai, December 23: The coronavirus crisis has impacted all sectors across the world, but agriculture continues to be one of the most evergreen sectors. The best part is you can start your agriculture business with low, medium and large investments, depending on your budget.

You can start any agriculture-related business and earn a good income out of it. This sector has also witnessed huge changes thanks to technology which has improved efficiency. Earlier this sector used to depend much on the climate for its flourishment but with the introduction of technology and science, the agricultural business has also has witnessed huge development.

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On the occasion of Kisan Diwas 2020, we have listed 4 agriculture business ideas which you can start in 2021:

Mushroom Farming: Mushroom business is very profitable. It can be started with low investment and it requires less space also. Mushrooms today have become a popular ingredient that forms a part of different cuisines.

Fertilizer Distribution: This is another business which you can get into. Here, you have to plan and buy fertilizers from big cities and sell them to rural areas.

Dry Flower Business: This is another business, which you can start as dry flowers have been becoming extremely popular. Demand has increased for dried flowers over the past few years, as more people discover easy and fun DIY challenges.

Organic Vegetables: This is a profitable business as people have been increasingly purchasing organic vegetables because of health benefit.

We hope that these ideas come in handy if you are planning to invest in this sector in 2021.