Tag: business Idea

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Business motivation

5 Key Factors To Kick-Start A Small Business Consulting Firm In 2023

5 Key Factors To Kick-Start A Small Business Consulting Firm In 2023
5 Key Factors To Kick-Start A Small Business Consulting Firm In 2023

Consultancy is a large and profitable industry. Organizations around the globe spent more than $155 billion in 2018 on consulting firms.

India has five of the largest IT consultancies in the world.  That is more than China, Ireland, and France combined. And it is two less than the United States if you consider the companies whose outsourcing practice is at the core of their business, like IBM for instance, according to a report published in Forbes.

In India companies like Wipro, Infosys, Tech Mahindra, and TATA Consultancy Services are the big names in the industry. However, where small and mid-level businesses are concerned, there are many industries and business owners who have plenty of professional challenges and are looking for business coaches to resolve their business challenges.

If you want to start your startup, starting a business consulting firm is a lucrative business idea. All you need to discover is your strength and expertise in a particular field.

Life as a consultant has a lot going for you in 2023. Here is a definitive step-by-step guide to starting your consultancy firm:

1. Choose your Segment

A consultant is a professional who is an expert in a particular field. It not just provides you an edge in the market but also helps you to differentiate yourself from all the other generalized consultants.

If you have a problem with your eye, would you go to an optician or a general physician? Optician, right? Similarly, when planning to start a consulting business, it is highly recommended to specialize in a niche segment. Knowing that you are an expert in their issue will give confidence to your clients. After all, they are going to invest their money to pay your fees.

Have a business idea? You can hire a business coach as well for your business.

2. Get Proper Certification & License

Based on your profession and specialization, you may need special certifications or licenses. For instance, you will have to register as a professional fund-raising consultant before starting any consultancy services.

3. Define your Consulting Services

Consulting is a broad and vague concept. But clients and potential clients do not pay money for vague promises. Hence, you need to showcase the specific consulting services you will offer and deliver to your existing as well as new potential clients. You can start by analyzing your skillset and brainstorming the general consulting services before you take up any new project.

This could be beneficial for both you and your clients. Your clients can make a comfortable, clear, and informed decision. You should also understand why clients hire consultants. Some businesses hire consultants to supplement their staff, identify and resolve problems, to promote change, to influence important decision-makers. As a consultant, your services and deliverables are foremost important for the business. Once you know what you will be offering to your clients, you are ready to take on the world with your next step- writing a business plan.

4. Write a Business Plan

When starting a business, entrepreneurs tend to make multiple mistakes and rush into things without considering the crucial element of their business – a clear vision and goal.

A clear and well-defined goal helps you to focus solely. And the focus comes from a business plan. Though writing a business plan is not necessary, it can help you crystallize your innovative ideas and avoid mistakes.

Entrepreneurs who take time to write business plans when starting a business are 2.5 times more likely to get their business off the ground. But do not get obsessed with writing every other small detail. You can write a concise business plan and start working on it.

5. Decide your Legal Business Structure

Before you start your small business consulting services, you need to decide which type of entity you need to register. As your legal aspect of business affects everything, do not rush yourself into deciding to register your business immediately.

Spend some time reading about all four types of business entities:

a). A sole proprietorship

b). Partnership

c). Limited Liability Company (LLC)

d). Corporation

Starting a business from scratch is not easy. Hence, pay some attention to developing your brand identity. Once you have defined your brand, you can start and run a consulting business. To learn how you can run a consulting business smoothly, you can take our ‘Business coaching program’. To know more about it, click here: www.badabusiness.com

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Startup

Want To Pitch Your Startup Idea? Here Are The Top 4 Ways To Do It!

4 Effective Ways to Pitch an Idea to Investors Confidently!
4 Effective Ways to Pitch an Idea to Investors Confidently!

Summary: Pitching your idea to your potential investor seems incredibly nerve-wracking. But it is vital to any startup business.

Pitching a business idea successfully to an investor is an entrepreneur`s dream. However, it’s a nerve-wracking experience too! It is like the feeling of giving a presentation in front of the entire class. The only difference between the two is that the former is more challenging!

One often wonders if the potential investor is interested enough. Will they like the idea? And most of all is this potential investor going to fund the project?

The key to doing it successfully is being able to deliver it confidently. However, it can appear as a mammoth of a task if you feel shaky about your public speaking skills.

So how can you ensure that you get investors for your startup business? By not doing mistakes that most entrepreneurs commit unknowingly and by attending India`s most powerful business training—‘Leadership Funnel Program 2.0’ by Dr. Vivek Bindra. Also, they practiced the best ways to approach their investors.

Here are top tips for pitching your great ideas or products to investors:

1. Focus On Your Purpose

Connect with what you are doing and focus on the solution that your business idea will provide to your customers. Find a way to calm yourself down beforehand. Practice moving the focus from yourself and your body back to the room, the people there, and your message. Always remember it’s your idea that matters.

2. Perfect your Elevator Pitch

Your elevator pitch is a teaser of your startup business idea. These 30 seconds of elevator pitch should explain everything that someone would need to know when they meet you for the first time.

Your elevator speech should be crisp, direct, and clear. It should simply describe your product or idea and tell your investors everything if they have no background knowledge about your startup.

It should cover the 3W`s- ‘What you do,’ ‘What problem you solve,’ and ‘Why are you different?’

After your pitch, make sure to connect with the person listening. Ask them questions and resolve their queries. Learn how to impress investors with your elevator pitch by attending LFP 2.0 by Dr. Vivek Bindra.

3. Find & Research your Potential Investors

If you come prepared, the battle is half won! So before doing your pitch, do some research on who you will be presenting. You can also work along with a business coach who can help you find some investors.

You can also search for the list of Angel Investors networks that focus on your region. Some of the investors may be popular figures. So you can research them well online. Study their patterns, as some investors like to be involved in the company they are investing in. Others would rather be hands-off and would rather like to receive quarterly reports on profitability.

4. Present Facts & Figures

When you are pitching your idea to a potential investor, provide solid data reports. Investors are always interested in what you have already accomplished. Also, how much profit they will make post-investment in your company.

The value of a startup is often built even before they have made profits. The numbers behind it are often driven by speculation about how well the company could perform shortly.

However, you must also be well-prepared to back up the numbers you provide to your investors. Investors would want to hear the reasoning behind your numbers.

Do not just give a random figure of new customers your company is acquiring every month. State the exact number of how many customers you will acquire. It does not matter if you are attracting 20 or 20,000 customers. Your transparency and honesty are what matter the most!

Always remember that an investor is not just investing money into your company, they are giving it to you. And they are investing because they believe in you.  Hence, give them confidence by providing real data.

Are you trying to find investors for your startup, but could not despite having an innovative idea that could make huge profits in the long run? Worry not! With our ‘Leadership Funnel Program 2.0 by Dr. Vivek Bindra’ you can learn how to raise funds for your business even without an investor. For more information, click here: https://www.badabusiness.com/lfp?ref_code=SM&pp_code=BHBB000078 .

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Business motivation Startup

A Complete Step-By-Step Guide To Start A Small Business In 2022

A Complete Step-By-Step Guide To Start A Small Business In 2022
A Complete Step-By-Step Guide To Start A Small Business In 2022

Summary: Starting a business sounds exciting but do you have enough knowledge to build one from scratch?

Nothing excites me as much as the idea of becoming my boss. Apart from having multiple coffee breaks and the flexibility of working at my own pace, it motivates me to work hard and chase my dreams. Every decision that I make will bring me closer to my business goals. However, there is only one hurdle, how to start a small business? Should I take help from a business motivational speaker, or should I work along with a corporate trainer?

Most young entrepreneurs often have these questions while thinking about turning their ideas into a beautiful reality. Starting a business sounds exciting, but how and where to begin?

There are many different approaches. For instance, you can enroll in a business coaching program or get help from a mentor. But what are the exact SOPs that one should follow?

To know the answer, follow this step-by-step guide that will help you to understand the exact SOPs required to start your small business.

1. Refine Your Business idea

If you are thinking about starting your venture, you might already have an idea in your mind. Whether product-related or service-related, do a quick search about existing companies in your industry. Learn about your competitors and brand leaders and figure out which unique features or products they are offering their customers or where they are lacking. You can turn these gaps into opportunities.

Also, find out your USPs. This will help you to stand out. Define your ‘why.’ If you want to be an entrepreneur but do not want to start from scratch, you can also consider taking a franchise.

But what are the factors one should consider while taking a franchise? You can watch this incredibly informative video by Dr.Vivek Bindra here:

2. Know Your Competitors Well

Most entrepreneurs spend more time creating their products (which is good) than they often do to know their competitors well. If you will go to investors, the first thing that they would like to know is what sets you apart from your competition.

Knowing your competitors is as important as knowing your target audience. You can conduct a SWOT analysis for your competitors. It will give you more clarity on what is working in the market. You can also take help from a motivational speaker.

3. Create Your Business Plan

A business map is like a road map that will help you visualize your journey and spot potential problems. This document makes it simple for financial institutions, potential investors, and company management to understand your business. Your business map should include an executive summary, market analysis, organizational structure, products & services, mission & goals, company’s background, financial and marketing plan. You can also work with a business motivational speaker to develop your business plan.

4. Assess Your Finances 

Finance is a significant factor that one should consider before starting a small business. Do you have the means to start your small business, or would you take a loan? If you are planning to leave your job to focus on your startup venture, do you think you have enough money to support yourself until you make a profit? Only 5% of startups survive after five years. Most startups fail because of lack of funds. Hence, it is essential to perform a break-even analysis.

Once you have figured it out, it is time to consider your funding options. There are multiple options, from business loans to government schemes, crowd-funding to fundraising through investors and business grants.

5. Determine Your Legal Business Structure

Before registering your company, you need to decide what kind of entity your business is. A business structure legally affects everything from how you file your taxes to your liability if something unfortunate happens. There are four types of business structure:

i). Sole Proprietorship

ii). Partnership

iii). Corporation

iv). Limited Liability Company

6. Register Your Business

Once you have decided about your business structure and name, it is time to register your brand. If you’re doing business under a name different than your own, you’ll need to register with the federal government and maybe your state government as well.

7. Apply for Licenses & permits

By staying legally compliant, you can keep your business running smoothly. The licenses and permits you need for your business will vary depending on your industry, sector, state, location, and other factors.

8. Open a Business Account

Set up one business account to handle legal, tax, and day-to-day issues. Keep all the required registration and paperwork ready.

Starting a business requires lots of planning, finance, and completion of a series of legal activities.

Hence, if you want to start a business, you can take help from a business motivational speaker.

The idea of managing a business is more straightforward said than done, and we agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program with foundation courses, specialized courses, and value-added courses.

Categories
Business motivation

4 Profitable Online Small Business Ideas To Start Under Rs 25,000

4 Profitable Online Small Business Ideas To Start Under Rs 25,000
4 Profitable Online Small Business Ideas To Start Under Rs 25,000

Summary: Starting a small business in an online market is not difficult as it may seem if you have a good online small business idea.

Leaving a 9 to 5 job and starting a small online business may seem like a giant task, especially when the capital is limited. Daily tasks like logistics, managing inventory, marketing, etc., often send chills down the spine of beginners.

Building a successful business is an arduous journey. However, if you have the right plan and right business strategies, your business can reap benefits for its founders, stakeholders, and several others who depend on it for their livelihood. Today, with a great business idea and the best motivational coach in India, you can start a small online business with minimum investment.

Here are four small online business ideas that can be started with a minimum investment of as low as INR 25,000:

1. Artificial Jewelry

If there is one thing after food that never goes out of fashion and demand is beautiful pieces of jewelry. The best example of it is that even during the COVID 19 pandemic when many businesses were shut down, the demand for artificial jewelry pieces remained.

There are portals like TradeIndia where people can create an online shop to contact good manufacturers for procuring jewelry and selling. She further adds that the first customers of the business can be your friends and family members who can endorse your products in their circle. To grow your online business you can consult with a motivational coach for entrepreneurs.

2. Home Bakery

If you have a thing for a bakery, you can also start your own bakery business. This business does not require a large investment. You only need a minimum investment to procure an oven and buy ingredients for baking. When starting from a small scale, there is no need of doing branding. However, it is essential to focus on the quality and delivering a product, which customers would relish. This business can be started with an investment between INR 15,000 and INR 25,000.

3. Homemade Candles

In the last few years, many people are getting inclined toward aromatherapy and scented candles. Candles are a wonderful way to enhance the interiors of homes and for gifting purposes. You can start this business online with a minimal investment either by manufacturing it at home or procuring it from a third party.

You will require wax, wick, moulds, thread, aromatic oils, and more to start your business. Apart from this, you will also need to have some candle-making equipment, which includes a melting pot, pour pot, thermometer, weighing scale, hammer, and an oven to melt the wax. Once your business starts growing, you can also hire a business coach for entrepreneurs.

4. Bedsheets

Starting an online bedsheet business is quite pocket-friendly for founders as the products can be bought in bulk and at a cheaper cost from the manufacturers. Many manufacturers are available on Indiamart and entrepreneurs can connect with them. You can also purchase bedsheets from cities that are famous for their bedsheets like Jaipur, Panipat, Surat, Delhi, and Kolkata.

If you have a great online small business idea, you can begin to work upon it because they require minimum investment. To ensure that your business runs smoothly, you can also consult with the best motivational business coach in India.

The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses. To know more, you can visit www.badabusiness.com.

Categories
Motivational

These 2 Inspiring Indian Entrepreneurs` Success Stories Will Fuel Your Startup Dreams!

These 2 Inspiring Indian Entrepreneurs` Success Stories Will Fuel Your Startup Dreams
These 2 Inspiring Indian Entrepreneurs` Success Stories Will Fuel Your Startup Dreams

Summary: A successful business takes years of dedication, hard work, and persistence. Are you ready to give your all to transform your dream into a reality?

“You cannot get into the business just for the fashion of it”- this famous quote said by Azim Premji, former Wipro Chairman stands true now more than ever. The current breed of entrepreneurs look for quicker returns, however, a business takes years of hard work and grit.

If you too have an amazing business idea, but can`t find inspiration to drive it with all your passion and dedication, here are two inspiring stories of Indian entrepreneurs who despite hundreds of hurdles pursued their dreams to find success.

1. Anuj Mundhra, Founder, Nandani Creation Pvt Ltd

Anuj Mundhra who started his professional journey from 2001 to 2003 worked in a saree showroom in Jaipur and earned INR 1,400 every month. He soon realized that he can`t lead a life with this income for too long. He quit his job in 2003 and started a business of trading suit pieces.

Soon, he started purchasing suit sets from vendors and further sells them to other vendors and shopkeepers. Once he started earning a decent income, Anuj opened his block and screen printing units in Jaipur. He continued doing it till 2012 until Anuj came to Delhi and saw huge hoardings of eCommerce marketplaces of Jabong & Snapdeal.

It didn’t take Anuj too long to understand that eCommerce is going to be the future of shopping in India. He came back to Jaipur and spoke to a Chartered Accountant (CA), enquiring about company regulations and compliances. He launched Nandani Creation in 2012 and branded the eCommerce offshoot as Jaipurkurti.com. In the first year itself, the company clocked a turnover of Rs 59 lakh.

Today, the company manufactures and sells suits, Kurtis, fusion wear, and a host of other apparel items. The B2C Company even exports to countries such as the UK, the US, Australia, Malaysia, and a few others. The average selling price for suits is Rs 900 and for Kurtis, it is Rs 650.

If you too have limited resources but want to start your own business, don`t hold back. Anuj too started the business with very limited resources. Not just he takes out a loan from a bank but also pooled money from his friends and family.

So if you believe in your dreams, pursue them with all you have.

2. Prem Khanna, Founder, Gourav Luminaries

When Prem Khanna left Kharkoda village, he harbored dreams of moving to the capital city and building a life for himself. To help him pursue his dreams, his parents gave him INR 5000. Soon, he started working at a local factory in Delhi.

“My father was street smart and a one-man army. He would save whatever he earned and invest in building the team by calling on his friends and relatives who needed work. Over the years, the brand of the electrical has grown into an Rs. 52 crores revenue business with an 85-member strong workforce and 115 people employed as contractual labor”, shares Prem Khanna.

He worked out of a small room in the Shahdara district, and made chokes at night with his own hands, and sold them at local markets during the day. After saving enough money, he established ‘Gourav Luminaries’ in 1991 and began building his brand.

Soon his two sons Gaurav and Pankaj joined his business in 2010. Gourav Luminaries soon grew into becoming an electrical brand with four manufacturing units for its Otto modular switches (its bestselling product), Yodha switchgear, Hilyt LED lights, Viktor ceiling fans, etc., in the Sahibabad Industrial Area.

Today, the company has established a 250+ distributor and direct dealer network across North India and earns Rs 52 crore revenue. If you are determined to start your own business, nothing in this world can stop you from becoming a successful entrepreneur.

No dream is too small; no goal is too big if you are ready to give it all to turn it into a reality. With the onset of New Year 2022, start working towards your goals and turn that amazing business idea into a startup business. To help you move forward in building a business from the scratch, you can take online entrepreneur courses.

To know more, visit: www.badabusiness.com

Categories
Motivation & Mind Control Strategy

5 Ways To Work Efficiently In Teams At Workplace

5 Ways To Work Efficiently In Teams At Workplace
5 Ways To Work Efficiently In Teams At Workplace

Summary: Success needs collaboration, communication, and people. No one has ever succeeded alone. But sometimes managing different people from distinct backgrounds can be a little tricky. Discover 5 ways to work with people, efficiently.

Clarity and kindness can go a long way when it comes to building and running a startup business successfully. While your business idea might begin in your head, to materialize it, you will need a highly efficient team. Even if you are working in a corporate world, teamwork is an essential skill.

So if you are someone who wants to get along with people at your workplace or looking for easier ways to build the high-productive team for your startup business, here are 5 ways:

1. Provide Constructive Feedback

Working in a group when the deadline is reaching nearer can get difficult. Conflicts are inevitable in that situation. So instead of getting caught up in a useless argument, focus more on a solution. When two people are working together, disagreements are pretty normal. So instead of focusing on the negative part, bring an actionable solution to the table that helps take things forward.

2. Appreciate & Give Credit

If someone has done a commendable job, acknowledge and appreciate the. But do not limit it only to the team. Do it when you are talking to your investors as well. Appreciation makes individuals valued and more invested in the company.

You can also organize a wall of fame or Rewards & Recognition ceremony where team members get rewards for their efforts and get a shout-out from their fellow team members can be a great way to thank your colleagues and subordinates. When people feel demotivated and exhausted, a concrete memory of successes can help them keep going.

3. Be Accountable for Your Mistakes

If something goes wrong and it`s your fault, be honest and accountable. The first step to finding solutions to a problem is to accept it, be upfront about what happened. While your first impulse might be to underplay it and sweet it under the rug, avoid doing it like a plague. Don`t try to blame someone else, as it will only cause more problems.

4. Understand Your Strengths

Being aware of your strengths and weaknesses can make you more efficient and productive. Before taking up a new project with a different team, you must take inventory of the strengths and weaknesses of your teammates.

5. Stick to Schedule at all cost

Emergencies can throw everything off the table and can catch you off guard. So from the start make some ground rules with your team, such as for how long a meeting will last and how often will those meetings happen. It is easier to get pulled in all directions instead of focusing on one thing. Figure out how people like to communicate and talk things out. Whether short meetings or long meetings are perfect, or would you rather do an email or chat update at the end of the day.

It makes sense that you would like to finish up work that is been delegated to you, but sometimes to finish work on deadlines, you can ask for help from your peers. Once the word is done, acknowledge them for their help and say thank you.

Gratitude always goes a long way and when you are working in a potentially stressful situation, it can help you to build an amicable environment. The above-mentioned 5 things will help you to work with people most efficiently and will bring productive results.

The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses.

Get your business back on track. Grow through self-learning and see your website traffic increasing with marketing collateral designed especially for you. To know more, visit: www.badabusiness.com

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Business motivation

How To Build A Strong Business Network When You Are An Introvert Entrepreneur?

How To Build A Strong Business Network When You Are An Introvert Entrepreneur
How To Build A Strong Business Network When You Are An Introvert Entrepreneur

Aditya, a 24-year-old guy, with plenty of revolutionary startup business ideas in his mind and a determination to set up his startup hails from Kanpur, a city in Uttar Pradesh. Surrounded by a large crowd of successful entrepreneurs and young solopreneurs who are chasing their business goals, he is getting nervous with each passing minute.

He can feel the sweat beads forming consistently and rolling down over his forehead against his will, which adds up to his discomfort. He can feel his heart thumping, ready to leap out of his chest. And, while many of you may think that Aditya is about to experience a cardiac arrest, let us tell you that nothing of this sort is about to happen.

Aditya, who has a charming personality and the confidence to sweep any businessman off with his effective communication skills and creative ideas, is also an INTROVERT. Being an introvert means meeting total strangers or attending an event with hundreds of people is no less than a nightmare.

While many people can easily share personal stories while making business contacts, there are also people like Aditya who want to build a strong network and close business deals for his business idea but can`t approach a stranger and start talking. You can also watch video on “Covid Proof & Recession Proof Business Ideas” , here:

Loud and crowded settings are often intimidating for introverts and draining. But in a world that often recognizes an extrovert as the ideal personality, how do introverts get ahead when it comes to building a network?

Here are five tips that can help even the most introverted entrepreneurs improve his or her networking skills:

1. BE YOURSELF

One of the most clichéd tips of all time, yet very effective and true. Accepting your weaknesses and strengths is the ultimate way of evolving both personally and professionally. Beating yourself up for not having an outgoing personality will not help you in any way. It will only create a sense of inferiority that will hold you back in the future.

Make improvements by learning from extroverts, but don`t expect yourself to behave like one. To get uplift your mood and spirits, you can listen to the best motivational speaker in India.

2. CUSTOMIZE YOUR APPROACH

There is nothing wrong if you feel more comfortable in a small group. After someone accepts your invitation to discuss your startup business idea, look for scenarios where you can meet people in settings that are peaceful and ideal for network building. You can invite business investors to small group or in-person activities like a cup of coffee at your favorite café to discuss endless business possibilities.

It may take you more time to meet new people. But, it will help you to overcome your hesitation to meet new people and will build much deeper and significant relationships.

3. ONE STEP AT A TIME

If you too get cold feet like Aditya when it comes to approaching even one person, then fret not! Take baby steps. Do not rush. Do not try to force yourself to go and talk to people when you are not comfortable. Forced conversations can leave a negative impact on your investor.

Begin by exchanging emails or few direct messages on LinkedIn with your business prospect. This will give you a sense of familiarity with the person you are about to meet in person. After you have communicated through emails, take the conversation ahead by meeting them in person. You can also hire a business coach who can help you overcome hesitation.

4. ASK FOR A WARM INTRODUCTION

It is very normal for introverts to remain with that one connection they make in an event for the entirety. However, being an entrepreneur you will have to build multiple connections for your business growth. Force yourself out of your comfort zone. Tell yourself a number and meet as many people within a certain amount of time. Explain that you are a little introvert and it will be amazing if they can introduce yourself.

5. PLAN AHEAD FOR EVENTS

Aditya is not alone in this world! Many people like him begin sweating at the mere mention of attending events. Many people in this world do not find the thought of meeting countless strangers pleasing. But, building a network is an important aspect of a start-up business. A little planning can ease out the entire situation for introverts.

When you find an event that can materialize your startup business idea into reality, you can contact the organizer a couple of days ahead of the event. See if the organizer can help you to make introductions through email or social media. On the day of the event, you will know specifically which people to seek out.

Introverts may find meeting total strangers and converting those meetings into treasured resources quite overwhelming. But as an entrepreneur, you have to have a strong network. So, networking has to be a part of the business plan.

To resolve this challenge, we have many ‘Problem Solving Courses’ that include personality development as well to help you build a strong network.

Categories
Startup

3 Home-Based Business Ideas You Can Start in 2021

Home Business Ideas| Representational Image (Photo Credits: Pixabay)
Business | Representational Image (Photo Credits: Pixabay)

The year 2020 was a nightmare for most of us. However, one positive thing it brought us was the expansion in the home-based business opportunities. Technology has made starting your own home-based business easy, affordable and possible.

With remote working getting more common, people are realising that they have the ability and resources to do their work from home. All you net to start a business online is a computer, a phone and an internet connection. Here are some of the home business ideas to pursue this year. 4 Startup Ideas That Housewives and Moms at Home Can Consider and Earn a Good Amount.

Consultant

If you are passionate and knowledgeable about a specific subject (marketing, social media, leadership, communication, human resources, etc), starting a consulting business can be a lucrative option. You can start consulting business in the comfort of your home and if it grows you can hire other consultants over time. National Startup Awards 2021: A Great Opportunity for Young Entrepreneurs to get Recognition & Why Should you apply?

Service-based online business

The service-based business allows you the freedom to use your skills and earn a profit. At you good at copywriting? You can start crafting marketing copy for other businesses. Do you have professional video editing skills? Launching a business helping people with video editing. You can sell and provide services completely online.

Turn craftiness into cash

If you are good at sewing, painting, jewellery making, or some other craft, there is a huge market for handmade products. You can be looking into selling your creations and running your business online from home.

Categories
Startup

Planning to Start a Clothing Business? Here Are 5 Creative Ideas You Can Consider Before You Start

Clothing Business (Photo Credits: Pexels)

If you have always been fascinated with opening up an apparel store or starting up with a venture related to clothing and you have a good taste of colours, go for it! Opening an apparel store is serious business. If you are so confident of your style that you need to share that good taste with the community, clothing business is the thing for you! It is a business that will never lose its essence as people will always be in for fashionable outfits. Also, once you have made a brand identity of your product, your clothing business will prosper and attract more people during the festive season.

As clothing is everyone’s basic need, the business related to it will never be out of fashion. If you start a clothing business with a right business plan, you can manage to mint money in no time. The most important thing that you need to consider is, which type of clothing business can benefit you the most and find ways to explore the business by targeting the right target audience. There is always a demand for clothes and if you are determined enough and have good contacts, the business can prosper and flourish in just a few years.

5 Ideas to Start Clothing Business

  1. Readymade Garment Store

Decide what niche is your focus. It should be something that interests you, so you have enough passion for your clothing business. Readymade clothing store can be a really good option, if you are looking to start a clothing business. The most beneficial thing in opening a retail store is that you can keep clothes as per your choice. If you open a clothing store in a busy market, you are bound to make a lot of profit. You can keep clothes in your store according to season and fashion trends.

  1. Online Clothing Business

Like we all know, the clothing business functions online. In times of the pandemic that we are reeling in now, online clothing business can prove really beneficial as there is no chance of physical contact with anyone. Online shopping is now becoming popular and is a common trend as people look for things online. People also have a lot of options to choose from among a variety of things. You can create your own website and start the online clothing business.

  1. T-shirt Printing

If you are creative and you think of putting your creativity into use, you can start the business of printing t-shirts. Printed t-shirts are always in trend. While some prefer plain t-shirts, most people like wearing printed ones. The t-shirt printing business can be beneficial as people are always attracted by abstract designs and decent prints for daily use. There are many ways of printing T-shirts but training is required to learn these methods.

  1. Rental Clothes

You can always opt for the business of renting clothes, which is also very beneficial. You can also start this business from a small level. There are many clothes that people do not like to buy forever, that is why people think of rental options. Rental clothes are also becoming a trend during marriage functions and other events as people don’t really want to spend a lot of money buying designer wears for a day. You can always rent out the same dresses to different people and make profit. It would be a one-time investment for the buyers, as he will have tp buy the outfit once and then rent it out to people who look for it.

  1. Make Baby Clothes

Baby clothes never go out of fashion. They are always in trend. Baby clothes make us coo with adoration. The baby clothing business is constantly in demand strand of the fashion market is crying out for creative designers to bring us more adorable baby clothes.

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Business motivation Strategy

Women Entrepreneurship, Women-Backed SMEs Can Help in Accelerating GDP Growth in India, Says Study

Women Entrepreneurship (Photo Credits: Pexels)

A recent study has revealed that if women entrepreneurship in India is given a push, it can accelerate the GDP growth in the country. As the country is focused on becoming self-reliance and achieving a $5 trillion economy, a report has suggested that a major emphasis on women entrepreneurship and women-backed small business can create a ripple effect in India’s GDP.

According to a joint study by Global Alliance for Mass Entrepreneurship (GAME) and Sattva, women-owned enterprises represent only 20 percent of all enterprises across the country. These enterprises hire 10 percent of the total workforce. The study revealed that women entrepreneurship presents a significant opportunity to strengthen employment and can create a ripple effect on India’s GDP; but the growth of women-owned businesses needs a greater push.

The study, which is centered around Bengaluru, points that there is an urgent need to increase sales and marketing channels and make women finance ready so that they can access capital for their businesses. “While women entrepreneurs in the region face formidable challenges, the combination of new market platforms, peer-support networks, and capital will make women entrepreneurs a force to reckon with before the end of the decade”, the study said.

According to the survey, quoted by IANS, a total of 53 percent of the participants had their monthly household income below Rs 50,000 while 84 percent women entrepreneurs use personal savings for capital needs and also tend to rely on friends and family. Meanwhile, around 97 percent of the women entrepreneurs hired less than five paid employees or workers. The study reveals that 67 percent entrepreneurs had been running their businesses for under five years and for all entrepreneurs, COVID-19 has reduced their revenues by 60-80 percent.