I am a professional writer and have been writing about Business for 3 years in this article, you will learn about business concepts.
Business Concepts For Beginners
Do you known that why many startup fail? Why they fail to expand their startup into business? Let’s understand the meaning of startup, when a business is in the initial stages and when the business and the business man are struggling is known as startup. Hope you understand the meaning of startup now; we talk about why many startups fails.
After many research I classified four or five main reasons, the reasons are not having a solid idea, lack research, not having a sold solution of the problem or if the businessman is come from a middle class family than he/she has lack of resources and lack of money. At last he / she under a pressure to earning many for their family. These are the some basic reasons for failure. 2020 to till now, during this period a wave of covid-19 and a wave of entrepreneur were come in India every one want to become entrepreneur of age between 17 to 30. They don’t want to research for their startup they just want money to start a business even they don’t know the spelling of business. Becoming an entrepreneur is good for the person, for their family, for the society and for the country but doing business like this is just a joke the end of this business is only failure. Now, I think that you should understand the biggest reasons why startups fail mostly in India and those people who failed in business they tell other people that business in very dangerous go and get a job but some of the are good they tell that do business but never do mistakes like me that I have done in my past.
Discover a great Idea
If we talk about India their many problems and solution are more than problems but no one cares about it. For being an entrepreneur you have to meet different kind of people and listen their and listen the solution they want. As we all Ritesh Agarwal founder of Oyo he visit all over in and he realize that there is a problem on hotels when problem check in or check out, with this problem he made Oyo application with this solution. As responsible entrepreneur never think about money he/she always think about to made the best solution. With the particular solution of the problems you can help you society, your country or if your business in growth able and expendable than profit will also huge. Basically you have to visit your country and meet the local area problem which all are facing and find the solution of the problem, never thing about because while you searching he solution or the Idea of the problem you check that the business in profitable or not.
- Research for your identified Idea
After finding the idea from the ground level by meeting people knowing their problem and the solution what type of solution they want. In the second step you have check your idea from all sides after five or six years later what happen or what not happen. Today we have best opportunity for researching about new ideas with the help of Google and YouTube I am telling you that if you research for your idea in these platforms they help you almost 80 to 90%it made your work easy. You should check your idea from different angle like that how it effect to people, how it to the society and country also. After researching about the idea now think about the technology according to your funds. At last check your idea and update yourself with the help of new technologies.
2. Funding to the startup
When I was in my 11th class have read a line in my business book the money in the blood of business those time I didn’t understand but now, I understand it too much. There are many businesses that start almost zero investment but at some point it requires capital. When someone start a business fund used to buy many thing like new technologies, assets, and to meet day to day expenses. Being an entrepreneur of a startup you have to buy new technologies according to your budget. An entrepreneur always use to buy those asset which give profit in the long term like share market and crypto market. A normal entrepreneur uses to buy depreciate assets this is the major difference between normal man and an entrepreneur. A successful entrepreneur always makes money from money because of his mindset and the experience in market.
At last “Money is the blood of business” buy assets on money to make money from money.
3. Hire experts
If you have sufficient budget for startup you can hire expert who know better than you to the business and they help you understand business. Some people don’t want to learn from other they say that they personally understand the business it attitude is good at some cases but most startup is failed because this they don’t want to believe in personal experience.
4. Remember one thing “life is too short to learn from personal experience.”
Learning is very important in every stage of life we have to side out ego, if a small child is tell a good thing aspirate that child and learn from that child. Hired experts will help full when you are facing loses they tell you to that what is market demand and what we are doing. At last hiring experts is not bad it is good they help when your business is start falling.
Hope, you understand all the basic and important point of starting a startup. Avoid all mistakes that I mention is first paragraph of the article. All most 90% present of startup failed because of these mistake in the first five years. Find an idea of a problem through you can help your society, country and you can earn profit from it. The idea mist is reliable to people means people should relate with your idea. Research about your idea that if is good or not you can tell to people about idea and get feedback or there are many platforms from where you are research about your idea. Always remember that ‘money is the blood of business with money businesses can’t run. If you have sufficient budget than you can hire an experts from whom you can learn allot about business and the expert help your business to grow. You have grown yourself day to day learn from everyone any always try to say no to un necessary work seeing no to someone is difficult but you have to say it.
Doing business is not an easy job you have to scarify something to grow whether it sleeps or a thing that you like the most. Business needs scarifies.
This content reflects the personal opinions of the author. It is accurate and true to the best of the author’s knowledge and should not be substituted for impartial fact or advice in legal, political, or personal matters.
© 2022 Arjun Giri