Entrepreneurs

Hi there,

This is your business coach Jayesh Sodha and today I wish to talk about home grown Start-ups. Firstly, I want to clear the mis-conception that your lot of ideas with some talking will make a start-up. Oh no, it is not that easy as you think!

To give birth to a home-based Start-up, you'd need a clear understanding of the work involved and long-term commitment. First of all, you'd need to invest your time and resources in planning and identifying the right kind of business that you want to start-up.

By my experience, let me grant some tips that a burning struggler or an ambitious entrepreneur might like to ponder and consider to kick-start his new business.

• Think of people you regularly meet in malls, restaurants, gardens, clubs or other gatherings. By observation, you'd get an idea that they're looking for a comfortable lifestyle if not luxury for their near and dear ones. So, your customer is there, and all you need to do is develop a responsive website that your targetted customer would like to demand - campaign, navigate and track the orders!

• Maybe, you have in-built skills or talent like singing or you are a designing student who love to make creative ad campaign and the best part is that you have that bright idea of making a profit out of this hobby, then I suggest - you must contemplate to lifestyle start-up in your designing agency!

• If you are very ambitious to be successful and build a scalable business whilst taking-up an innovative idea and built a business model that will eventually turn into a high-growth profitable company then well, I strongly recommend exploring technology optimally. Jayesh_SME loves joining hands with such entrepreneurs to help them grow exponentially.

• Alternatively, you may think of growing a company with values that you may pre-plan to sell via M&A like our own businesses in MarketPower,in and SmartCityHome.in Click here for reference!

• Not least, if you are socially passionate about bringing a positive change in the world around you, then certainly, look forward to social start-up -> for-profit / non-profit/ hybrid. Such a start-up might need donations to fund such a project, so be prepared to invest a good amount of time in mapping the requirements right from the start.

To summarize,

Map your Finances - Determine your target audience - Be flexible with an open mind - Identify & Invest in right technology - Do your legal compliance and paperwork as required - Fail fast, Succeed faster - Find a good mentor - Build, Measure, Learn and Adapt! Look at what your business is trying to tell you, be open to change and get the right guidance from someone who has walked the path as an entrepreneur.

I hope, the above tips might help someone to get the right direction. Just to inform, Jayesh_SME runs a special service for Solopreneurs <click here for reference> Feel free to call us "for free" as we don't charge for exchanging initial ideas with young entrepreneurs and honestly wish that they ultimately succeed in their start-up!

Sincerely,

Jayesh Sodha

(M) 9699145959