Is it yet the right time for starting up your startup – 8 Points (starting up Preschool & School-related business)?
This year 2020 is definitely going to go down in the history of mankind in a very different way.
Indian Education industry has never seen such an apocalyptic time. So, is it the right time to start your new business venture related to Preschool and School education?
The ‘Startup’ word has traveled a lot. It has come out from just business pages and entered into the ‘main’ areas.
‘Startup’ political party lost and won and equally generated enough ‘buzz’ to motivate ‘normal’ people to enter into politics.
Several ‘Startup’ activists gained prominence and build their own brand, larger than the organization they work with.
Many ‘Startup’ journalists are identified with their First name rather than the positions they hold in their media organization.
‘Startup’ video channels of ‘youtube’ are equally popular and huge fan-following than ‘kapil sharma comedy nights’.
You must have been hearing about several ‘Startup’s making rounds and rounds of news.
‘Startup’ MOOCs got successful.
‘Startup’ novelists are selling their ‘cakes’, online as well as offline, they might not be winning some booker or earning huge like ‘Harry Potter’, but definitely they are earning their piece.
Now, some points which we feel that every ‘Startup’ person must know to start up their venture in 2021 :
1. ‘Hobby’ is OK –
Don’t ever think that just because your idea/product/service gets branded as ‘hobby’, you cannot make a great business out of it.
2. You don’t always need Venture Capitalists –
Businesses don’t always need big VCs. You need VCs only when your business has the potential of that scale, and, when you cannot grow your business in ‘steps’ (like first then second, and so on).
3. Still now Rupees One Crore is not that big amount –
Its simple mathematics that One Crore is not that big amount. If your annual revenue per customer is Rs. 25,000, then you just need 400 customers to reach One Crore.
4. Calculate and Collect your first line of customers –
Being ready with the first line of customers is the best thing one may have. Having a ready first line, will not only give you a small assist in revenue but will also provide you with necessary feedback.
5. You need not be an ‘MBA’ to market your ‘product/service/idea’ –
If you have enough time, then it’s always fruitful to go through the Marketing book by Dr. Philip Kotler, Advertising by Aaker, etc. But, that’s not necessary. Marketing is simple; you have a product/idea/service, now think of customers who can pay you.
6. ‘Patience’ –
Everything takes its own time (reasonable). Do not be a ‘desperate’ ready to press the panic button easily. Good things take time to fructify.
7. Not all business makes ‘crores’ that does not mean you should not make ‘lakhs’.
This is the most optimal time to start your own startup.
Don’t wait for what you don’t have like real huge money for marketing, a techie kind of IIT stuff; rather focus on what you already possess. Start following your passion and be a ‘Startup’ now ….
8. Save yourself from companies/individuals/organisations offering you to become a franchise or Business consultant or IBC Independent Business Consultant.
Chit Fund, Franchise offerings, Independent Business Consultant type offers are the sure-shot method of chasing failure and getting involved in a vicious cycle of fraud and cheating.
Forget all the reasons why it won’t work and believe the one reason why it will.
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