9 Challenges For Any First-Time Indian Entrepreneur.

Indian Entrepreneur

Indian Entrepreneur

Are you thinking of quitting your 8 hours 5 days a week job for 18 hours everyday job that may even take you to an economic apocalypse?

Yes, that’s true not all the entrepreneurs can succeed like Steve Jobs and even he suffered through a very bad time in his initial days of entrepreneurship.

So, if you think that you can survive though this, congrats and welcome to the world of Entrepreneurs.

But wait, that’s not all there are 9 more challenges followed by it that you need to pass for becoming a successful India Entrepreneur.

Read them and then decide are you ready to go with Entrepreneurship?

 

Be unique, think unique and have a unique idea.

 

Do you have a idea that the world really needs?

Ideas doesn’t knocks the door of your brain at a sudden. Of Course you need an idea, an idea the world needs. Most of the startups fail because they work on providing something that none needs.

After you decide to do something of your own, you also need to decide “Do What?”. Look around you, observe, enquire and then think what’s missing in the whole scenario? What can you do that can really make the society better? And finally decide your Startup’s goal.

 

Finding the right Co-founder.

 

Another big mistake that leads to the downfall of most of the startups id doing everything on their own. You can’t do everything, right?

Find a Co-founder and don’t wish him/her to be like you rather choose someone who thinks different from you and some qualities that you lack in.

A very good post by Neil Pate on How to find the right Co-founder.

 

Oath to Dedication and Full Time Attention on your Startup.

 

Not just for the Indian Entrepreneur but all the Entrepreneurs around the world take an oath to give all his/her time, dedication and money as well to their startup.

So if you wish to start a startup and you really need to make it works, stop thinking about yourself, your family and of course Holidays.

 

Finding Investors.

 

The toughest part comes here. Investors be like, easy to find but very difficult to convince.

There are many online platforms that provide you lists of Investors, investing in your niche but none will help you in convincing them. You’ll have to convince them on your own.

So get an idea plus get ready to present it in such a way that none would say no to your proposal.

 

Finding the right Team Members.

 

No startup would ever work without the right employees, who are dedicated and talented enough.

Search your contact list or find people online through LinkedIn, interview them and create a team of dedicated plus talented professionals.

 

Getting it Registered.

 

Now that you are ready with all the previous steps, you need to register your startup under Startup India according to the laws made to govt. of India.

There are basically 7 steps under this-

  1. Incorporate your Business.
  2. Register with Startup India.
  3. Upload Required docs.
  4. Avail Tax Benefits.
  5. Certify that you are satisfied with the conditions.
  6. Get your recognition number.
  7. Patents, trademarks and/or design registration.

For more details, click here.

 

Managing Money in the right way.

 

You are a new startup and you need to take care of your budget. You have to find the most cheap and still good ways.

There a lot of things that need to be managed when you are managing a new startup, for example you need an office space and so will have to check the area, the locality and most importantly it should be under your budet.

Prepare a good budget strategy to keep your startup away from running out of funds.

 

Also Read- Marketing Strategy for Small Businesses with No Budget.

 

Creating a Perfect Marketing Plan.

 

After you are done with all the initial steps, now it’s time to do your Startup’s marketing.

Marketing matters a lot in a startup’s growth process. You have to do everything very strategically and step by step.

If you are not very familiar with Marketing, you can also hire professionals and agencies to do your marketing. You may also contact us, if you need a good and cheap solution for your marketing goals.

 

Fear of Failure.

 

“Fall seven times and stand up eight.” –Japanese Proverb (Click To Tweet.)

Failure is not final until you decide it to be.

You are the only one who can change your own world. You need to work hard be more dedicated to your work and idea more than ever.

Just be a little practical and a little workaholic. Never quit it rather experiment, test and run.

Don’t ever let Fear of Failure ruin what you’ve done till now.

Currently India is going through a startup revolution. There are a lot of fields where startups are so much needed in our country. Wake up be an Indian Entrepreneur and decide to go with it. Make your country a better place to live in.

I hope to see you with the tag of an Indian Entrepreneur soon!

 

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