Tag: Unicorn Club

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Business motivation

5 Low-Investment Business Ideas For Small Towns & Cities In India

5 Low-Investment Business Ideas For Small Towns & Cities In India
5 Low-Investment Business Ideas For Small Towns & Cities In India

With 70% of the Indian population residing in tier II, tier III cities and small towns, small business ideas in these regions are the need of the hour. This also offers multiple opportunities for new-age entrepreneurs. The government is also promoting the idea of ‘Atmanirbhar Bharat’, which encourages the young guns of India to take a risk and become assertive in their approach.

Most of the businesses in these areas are directly or indirectly dependent on agriculture. Thus, it gives lots of opportunities to start new businesses in these areas.

‘Success may come to the first movers, but success stays with the fast movers’, says Dr. Vivek Bindra- the best business coach in India. So if starting your own business is your absolute dream, here is a list of small business ideas that you can explore in the small town:

For young entrepreneurs who are passionate about making their mark, here is a list of low-cost business ideas:

1. Retail Stores

If you will look closely, you will notice that many popular brands are making their way to the rural areas of India. While the market in the big cities has reached its saturation point, in small towns it is still at a development stage. Though the majority of the population is residing in rural India, there is a lack of retail outlets that are well-planned and cater to the different needs of the customers. One such option is to open a Kirana store. A very feasible option, Kirana stores are never out of demand.

2. Flour Mill

Opening a flour mill is another low-investment business idea that can be started with minimum investment. A flour mill can be beneficial in a small town as there is an adequate supply of the raw materials like grains, cereals, oats, barley, sorghum, and spices like turmeric, and chilli etc.

Once your business begins to flourish, you can also supply the products to nearby cities and towns at a good profit. It is a good business opportunity and requires limited money. It also requires a good electrical connection to start and run the business. To expand your business operations, you can watch great informative videos by Dr. Vivek Bindra- the best business motivational speaker in India.

3. Become a Translator

Love learning new languages? Then becoming a translator is an excellent business idea for young and aspiring entrepreneurs in India. Various companies in the country are looking to expand their reach globally. They are willing to pay people who can speak foreign languages like Japanese, Chinese, German and Spanish.

So if you are interested in learning a foreign language, you can make good money from this by offering your translation services to individuals as well as companies.

4. Fitness Guru

Today, people are becoming health conscious more than ever. Thanks to our unhealthy lifestyle and hectic work schedules, more and more millennials are turning towards fitness trainers for good health.

If you are crazy about physical fitness, you too can become a fitness trainer. There are many certification courses available as well. You can set-up a gym and become a qualified fitness guru.

5. Online Tutor

With BYJU`s joining the Unicorn Club in 2020, online education has become a popular thing. If you have proficient knowledge about a certain subject, why not use it constructively? Due to the pandemic, many students are looking for a subject matter expert to help them in their studies. Becoming an online tutor is an excellent business idea that is profitable and involves no risk. Your subject knowledge can help you earn handsome money.

If 9 to 5 desk jobs do not excite you, fuel your entrepreneurial skills with any business idea that has good prospects. Keep your target audience in mind and research well before making any decision. However, with proper guidance and expert knowledge, you can reach your goal quickly.

What does it take to become India`s no. 1 entrepreneur? Deep insights of great mentors who are ready to help you throughout your journey! And our Business Coaching Program that provides you exactly what you require to make it successful. Why not connect with us for more information?

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Business motivation Startup

How PhysicsWallah Became India’s 101st Unicorn

How PhysicsWallah Became India's 101st Unicorn
How PhysicsWallah Became India's 101st Unicorn

Summary: From a free YouTube channel to raising a $100M fund in Series A, PhysicsWallah joins the unicorn club. Read the inspiring story.

“A dream does not become a reality through magic; it takes sweat, determination, and hard work,” said Colin Powell, and we couldn’t agree more.

Many people often complain despite having all the privileges in the world. They blame the situations, consequences, and sometimes people for their inability to achieve their goals.

But, there are people like Alakh Pandey (Founder and CEO, PhysicsWallah) who fulfill their dreams despite life’s challenges.

If you have been living under the rock, then let us tell you about Alakh Pandey and the success story of his Noida-based startup- PhysicsWallah. His Edtech startup PhysicsWallah has become India’s 101st Unicorn. He received funding in its Series A round from investors, including Westbridge and Funding.

Want to know how you can raise funds for your business? Watch this video: 

Many believe that the availability of financial resources makes a person successful. But nothing can be further from the truth. Having a solid financial background can help a person, but one has to walk the road to success on his own.

Born and raised in Allahabad, Alakh loved to learn as a child. He wanted to pursue engineering at the Indian Institute of Technology. But coming from a humble background, he couldn’t fulfill his dream of studying at IIT.

He was admitted to Harcourt Butler Technical University, Kanpur, to study mechanical engineering. To fund his education, Alakh’s father had to sell his house. To help his father, Alakh began teaching JEE/NEET courses at coaching centers during his graduation.

Soon Alakh realized that many students couldn’t afford expensive coaching classes. So in 2016, he started a YouTube channel offering free physics and chemistry lectures for JEE/NEET examinations. In 2019, he was joined by Prateek Maheshwari, an IIT BHU alumnus who founded startups like Night Panda, Pen Pencil, and Moon 2 Noon. They knew they would be fundraising for their startup in 2022.

After a few meetings, Alakh asked Prateek to join him as a co-founder, and in May 2020, they launched the PW app. The app crashed on day 1, not because of a technical glitch but because there were so many downloads. In seven days, there were three lakh downloads.

Born as a free YouTube channel in 2016 with just an investment of about INR 30,000 used to purchase a camera phone, tripod, whiteboard, and a few books, today it is a family of more than six million students and 1,500 staff, who aim to provide quality education at an affordable price.

PhysicsWallah got subscribed by 10,000 people in the first year and 50,000 in 2017. In May 2020, they developed an excellent tech idea for their business model and launched their Android version.

The course structure is divided into two categories: live classes and scheduled recorded lectures. They are further sub-divided into free (on YouTube) and paid batches (on the app).

“It is a very student-friendly app. More than 5.5 lakh students consume 90 minutes of educational content every day. The overall rating of the app on the Google Play Store is 4.8. Moreover, the PW app is probably the only one to conduct the largest live online class,” Prateek claims.

Students can access daily practice problems, one-to-one sessions with mentors, and live doubt sessions by top facilities, including PW founder Alakh Pandey.

From a free YouTube channel to becoming India’s 101st Unicorn, Alakh Pandey has had his shares of challenges. But he was determined to achieve something in his life by providing solutions to others, and he sure did!

Bada Business wishes Alakh Pandey more success in the future!

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Finance

5 Key Things Entrepreneur Should Know Before Applying For A Small Business Loan!

5 Key Things Entrepreneur Should Know Before Applying For A Small Business Loan!
5 Key Things Entrepreneur Should Know Before Applying For A Small Business Loan!

In a report published by Economic Times, “the Indian economy is expected to be a $5 trillion economy by 2025 and the MSME sector is expected to play a very crucial role in this growth story.” The MSME sector in our country has been the backbone of the economy. It contributes around 30 percent to the GDP and employment generation.

With the government`s ‘Make in India’ initiative, this sector is set to play an important role in supporting domestic companies and foreign multinationals to set up manufacturing units in India. Till now, 83 startups have entered the elite Unicorn club which has made India the third largest startup ecosystem in the world after the US and China.

But not every startup joins the Unicorn club. Some struggle to sustain themselves due to the lack of funds. And for an entrepreneur, the constant lookout for sources of working capital is like a nightmare, especially for those who run a small and medium-sized enterprise (MSMEs) with limited assets or collateral, finding different ways for fundraising.

So, if you are an entrepreneur and want to take a loan from a bank or a non-banking financial company, here are 5 things to improve your chances of getting a business loan from a bank or a non-banking financial company:

1. Maintain a Healthy Credit Score

A credit score symbolizes the creditworthiness of a person or business. It is assessed based on the payment history of the individual or business. So, the personal credit score of a person or a business is collected from the multiple institutions that maintain the records of the payments. These records can significantly affect the business’s eligibility for a loan.

If you pay your EMIs regularly and on time then you will have a healthy credit score which indicates that you are financially disciplined and are unlikely to default on repayment. Although the credit score that is required to take a loan varies and depends on the lender, a credit score above 700 will enhance your credibility.

2. Maintain Adequate Cash Flow in the Business

When you apply for a small business loan, the financial lender will investigate your business cash flow (past and future projections). An adequate cash flow will determine if the size of the loan that you are seeking is appropriate. Your previous loan history and existing debts will also be analyzed to determine whether you will be able to pay the loan`s monthly installments without defaulting. To ensure your loan approval, maintain the adequate cash flow in the business.

3. Keep all the Documents Required for Loan Application

One of the most important steps is you keep all the necessary documents ready when applying for a business loan. Keeping all the documents ready and in place will streamline the process and will make things smooth for you as well as the lender.

The following is the list of documents for verification:

  • Identity proof
  • PAN card
  • Address proof
  • Proof of business
  • Business and personal bank statements (last six months)
  • Business and personal tax return records
  • Business’s financial statements
  • Business’s legal documents such as commercial lease, and franchise agreement.

4. Be Insured

Being an entrepreneur involves a lot of risks. Hence, personal or business insurance is a must so that the loan can be paid off in case of any unfortunate event. Your probability of getting your loan approved is directly related to the risks associated with you and your business. The less risky your business is, the higher the chances of your loan getting approved.

5. Know the Best Time to Apply for a Loan

Many entrepreneurs often waste their time contemplating the ideal time to apply for a loan. However, there is no best time to apply for a loan, as the time of applying has minimal effect on the chances of your loan getting approved. Many business owners believe that the best time to apply for a loan is when your company is in the need of finances.

Many startups have to close their operations due to a lack of funds. But with a business loan, you can ensure that your business sustains in the market. There are many government schemes as well that offer business loans at nominal interest charges. So keep the above-mentioned points into consideration when applying for a small business loan.

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Startup

Dream11 Journey: From Fantasy Gaming Startup to IPL 2020 Title Sponsor, Here’s A Look At The Rise of The Unicorn

Dream11 (Photo Credits: Twitter)

Mumbai, August 19: Dream11, Fantasy gaming startup has bagged the Indian Premier League (IPL) 2020 title sponsorship rights. Dream11 won the title sponsorship rights with a bid of Rs 222 crore, replacing Vivo for a four and a half month deal.

In India, the online fantasy sports gaming has seen exponential growth over the last three years. To quote, IFSG-KPMG report, the biggest player in this category is Dream11 which commands 90 percent market share.

Here are some interesting facts about Dream11 growth journey: 

  • Dream11 was co-founded by Harsh Jain and Bhavit Sheth in 2012. It is an India based app.
  • Dream11 is headquartered in the city of Mumbai, Maharashtra.
  • In April 2019, Dream11 became the first Indian gaming company to enter the ‘Unicorn Club’.
  • In 2014, the company reported 1 million registered users, which grew to 2 million in 2016 and to 4 million in 2018.
  • Dream11 was also recognised as one of the top 10 innovative companies in India by Fast Company in 2019.
  • China-based App development organisation called Tencent Games had invested in the application in the year 2018.
  • On the Dream11 platform, the share of cricket as a sport is 85 percent, and this explains why IPL is an important platform for the brand to be in.

Here’s how the game format works:

Dream11 provides a fantasy gaming platform for multiple sports such as cricket, football, basketball, kabaddi, hockey, volleyball, and baseball, handball. Here users create a virtual team of real-life players and earn points based on the performances of these players in real matches. In order to participate in a Dream11 game, a user must be at least 18 years old and needs to get their profile verified using their PAN.