How To Start Best Profitable Business In India - Step By Step - All About Business

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Monday, August 3, 2020

How To Start Best Profitable Business In India - Step By Step

How To Start Best Profitable Business In India

If you are a student or an entrepreneur and inspired by others who started their businesses and living life that you dream for. 

So also you want to start business in India but don't know how to start and how to setup your business in 2020. 

Are you worried about failing of business then you are at right place, Read this article carefully where i explained all things step by step.


How to start a business in india
How to Start a business in India

You probably already dream that i will do business, also you don't want work under anybody for any reason. 

If you want to start you own business to get name, fame, position, power and you are passionate about it then you're at right place read full article carefully.

How to Start A Business

To start any business you have to know about what you actually want to start to be a successful entrepreneur. In actual reality peoples thinks that to start business with unique idea. 

How To Start Business
How To Start Business
did you know in India 95 % of businesses are failed, only those businesses are running successfully that they are implementing all standards and strategies.

Steps To Start Business In India 

You have your own business idea Low cost business ideas with high profit. you can refer these businesses also.

  • Decide Business Idea

In this case two things happens that you have too many ideas or do't have any idea, but you have to start your business.

Here we will see the exact strategy to decide an business idea. Manufacturing businesses

Decide business Idea
Decide business Idea

Choose Ideas about you're passionate about because ideas are more Ideas are going to useless everybody has Ideas. 

If you don't have passion about it then you won't be successful in that business. find out what is that idea.

After choosing ideas you have to research about it is it profitable for next 40 years or not.

what and where market is going, is your idea is up-gradable with  market position that is changing very fast you can visit some new business ideas

While deciding your idea you consider that peoples who are running that same business, how much they are earning per year, after start how long does it take to earn first profit.

Look at them who are already in position and what they're doing Now, and what you will do after starting this position to stand on that position which is you dreamed for.

  • Training 

In any Business success is depends on skills that you have Because of it start your business according to your expertise. To be successful in India Try to learn new skills related to your business.

Training
Training

Now a days in India many institutes are providing training's you can join that to learn about new concepts are are implemented now.

Also you can increase (Gain) your rate of skills by working on other businesses that are related to your Idea.

  • Report Of Your Project    

It is mandatory to make a project report before to start a business in India also it helps decides venture success. 

In project report profile includes estimation details, plan and viability. to make a project report study the details of products or services which is domestic or international. 

Report of your project
Report of your project

Project report contains name of owner, place, and industry details, product services details and also what is its use. Try to make report by yourself or for some data you can take guidance of experts. 

Include market potential, Quality control and standards, government and industry standards, pollution control and energy conservation norms. 

Try to make a report on basis of on estimations and assumption of  raw material, salary, space, machines and profitability etc. and also location decided by considering area and geographical considerations. 

Write production aspects, operating plans and operating capacity. In financial aspects write fixed capital, infrastructure cost, plant and machinery, working capital, project cost and expenditure.

In the last mention suppliers name with all details.

  • Funds Finalization 

In India if you want to start business on small scale that is by self funded or by family funded. To start your business you have to finalize funds that you required because it helps to get funds.

funds finalization for your new business
Funds finalization
after finalization of fund that you required to start your business, For new business you have two ways to get funds for business is first is LOAN and second is ANGEL INVESTOR. 

Investors have two types, first is angel investor and second one is venture capitalist. 

Angel investors includes businessman or CEO's, angel investors investing funds in your business and also they'll tell you loopholes and ways to implement it after implementations of it they'll invest in your business. 

Second one is venture capitalists is like a share markets broker they'll directly provides you funding by taking % of your company and if your company gets in profits then they'll be also in profit.

For loan check banks which are offering capital for new start-ups.

  • Registration Of Business

Now a days in India business registration process is very easy for every type of company like private limited, Limited liability partnership, OPC or general partnership company.


Registration of business
Registration of business

You can do this process alone without taking help of any broker. 

Full process of registration

1. Digital signature certificate 

To make DSC certificate you can visit www.mca.gov.in website. it is a process of 2-3 days after submitting all documents on this website.

2. INC-29 form

Documents required to fill this form,

Personal and occupational details 
Educational details
Proof of identity
Proof of Address

In INC-29 form Application are, 

Only 3 Din number
Company name 
Company registration
Directors details
PAN and TAN number

  • Tax Registration 
Now a days tax registration is also very easy, Tax is related to income tax department process of getting PAN and TIN number.


Tax-Registration

You can register by taking help of any service center authorized by NSD (national securities depository) ltd. by submitting required documents. This process takes 30 days to complete.

  • Website Launching

You have to make a website based on your business and launch it. Because as per today's trend online presence is mandatory for anything.

  • Market position
To get position for your business in market you have make a attractive logo, print official pages including company name, logo, and contact.

  • Staff
For getting right staff as your need you have to register your company recruitment details on job portals or visit institutes for getting graduates by providing some stipend.

  • Advertise Your Business

If you're new in business field, then try to learn how to advertise your business without any investment, yes it is possible now the effective branding, marketing. Let's see how,


Advertise your business
Advertise your business

You can make a video of your brand or business and upload it on your from your channel or if you have a budget then you can ask to a big YouTuber's who have millions of subscribers to upload your videos. 

Also you can do, make a account on google adwords and setup you ads, google adwords place your videos as a ad on other videos before play of video.

Also you can make a post of your brand and upload it on Instagram business account and Facebook page also you can promote your posts on these social media with very low fee is like 2$/day. 

Also you can setup ads on google here google will place your business ads on internet posts.

To reach out perfect customers LinkedIn is a great platform where you can make your business profile to reach right audience.  Also you can use old ways like to advertise on newspaper or radios.


  • Loans

1. First you can visit your bank in which you have already you have a bank account, ask for details for loans if it is good for you then you can try for it.


Loan for your new business
Loan for your new business

2. Indian government launched a new scheme in year 2015 named as pradhanmantri mudra loan yojana, To start your new business you can take a loan under mudra loan in just 30 days up-to 10lakh without giving any guarantee. 

If your account is in SBI bank then you have to submit all required documents still if you are not getting loan then you can take a help by this email- chairman@sbi.co.in

Conclusion

Businesses are the future, You need to think out from today. 

You can check any of the business no matter its online or offline, start studying and learning concepts how you can able to start your own business in India. 

How is it possible to start big scale business from small scale. you can even start your business with your current business. 

I can assure that you will be successful if you have right strategy to work multiple. 

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