The Indian business landscape is bursting at its seams with its startup culture and young enterprises, each one more unique than the other. Fortunately for the young entrepreneur, the market is ripe and ready for new ideas and new ways of doing business. As is the customer, who laps up every new innovation with eagerness. The government too has pledged its support, and schemes are underway to give startups a boost. It is a wonderful time to be young and innovative in India.
Here are a few points that you must keep in mind while embarking upon your venture:
#1 Is There A Need For Your Idea?
A business idea cannot exist in isolation. It has to fulfill a pressing need for individuals or organizations. Or it has to create a need, in which case, you already have an edge. Is your idea truly revolutionary? Will the idea stand the test of time and survive the pace of disruption in technology and the changes in the customer lifestyle?
#2 Start Small
You might be faced with the temptation of starting with a big bang. Make sure you do not walk the wrong path that many overambitious entrepreneurs before you have walked. Focus on one thing only and do it really well. Allow the idea and business to grow at a pace that you can handle.
#3 Don’t Think Small
Now, this might seem like a contradiction to the earlier point, but it’s not. A startup need not be confined to its current scale of operations. Enjoy all the advantages of a startup, but aspire to get to the top. Keep the larger vision in mind always – this will be your driving force for growth. Observe, study, and learn from those who have found success, and make your learning curve shorter and your journey smarter.
#4 Build The Right Team
Not everyone who is enthusiastic about your idea can actually do justice to it with the zeal and rigor it needs. Find people with the right strengths and bring aboard only those who can add tangible value.
#5 Arrange For Finance
Unless you get a windfall inheritance, chances are you’ll need financial backing. Sometimes, your networking skills can pay off here in the form of attracting a like-minded investor. Consider all funding options, even if they are small. Having a person in your team with a head for numbers goes a long way, making sure you do not rush into a financial commitment without thinking it through.
#6 Do I Need Office Space?
While you’re busy focusing on growing your business, have you given any thought to your actual office space? It’s fine to start out in a garage or your spare bedroom, but eventually, you will need to grow out of those spaces if you want your business to grow.
Shared office spaces work perfectly if you want to keep your costs flexible, your business model scalable, and your startup image professional. The environment is conducive enough to work alone or with your core team, brainstorm, or even conduct client meetings – in person or through video conference calls.
Awfis has been offering enterprises the right professional environment, with the flexibility of choosing individual cabins, meeting rooms and pods, as well as fixed and flexible seating options.
Essential support functions at Awfis like Wi-Fi, video-conferencing, high-speed internet, and a well-stocked pantry make sure that you have all that is needed to conduct your business in the most professional and productive manner without worrying about infrastructure.
Awfis offers exciting, customized and affordable plans to suit your needs – with hourly, daily, weekly, monthly or yearly rental options, depending on your requirement. What’s more, as a member of Awfis, you can avail these services across all cities where Awfis has a presence.