I listen to people making excuses everyday as to the fact that they weren’t able to start their own businesses and even if they had tried once, they couldn’t do much but write it off as one- of -those -things- that -happen -to -us. Among a lot of reasons, myths and laziness-induced excuses, some people still emerge as likely candidates to start their own businesses after all and probably for the second time now and if you had just been a discerning young about-to-jump-ship business junior, this is just as relevant to you as it is for anyone else.

I have figured out 5 ways to nurture your start-up effectively :

1. Start-up in your part-time by parting time : One of the strongest reasons as to why people don’t start their own businesses is the fact that they would have to let go of their juicy paycheck. Hell, why did you even have to think about it in the first place? Why not have the best of both? But just like you’d pay more for an expensive car, good things come with fat price tags – You’ll end up working like a dog and try to manage both your day job and your part-time business – I think that’s fine. The good part is that you still haven’t let go of your trousers and that paycheck is still yours. You will get to experiment and you will get to write it off, if it didn’t work. That’s neat if you ask me.
2. Say No to Loans : I am not so sure if you an amazing idea as yet, so I am not talking venture capitalists as yet. However, no matter what happens and no matter how you’ll eventually work your way to finance your business, stay away from loans. You really don’t need them. Oh, nice ! Just how would you fund your business then?
   • Find partners and ask them to pitch in – Share the profits on a percentage basis. Something like a privately listed firm.
   • Use your savings, credit cards, debit cards, sodexho passes etc.
   • Try to start a business which doesn’t anything to run except you of course.
   • Build your business, one customer at a time.
3. Stay away from products, try selling services : If you were thinking about selling products, see this post earlier about why they are not great an idea. You could try to deliver these very products as services. Services is where the money is. You’ll need more people, you will need to capitalize on their skills and you will eventually earn a lot of money if you are good.
4. Don’t sell stuff – products or services- just because YOU like them : Now, this is simple. I like electronics, but I will never get into this business. Why? In India, it is way too competitive and everyone would rush in because they don’t read posts like these. Since it is competitive, the dudes usually undersell and cut prices. Customer wins, industry loses. Business is a loser proposition. Next idea please.
5. Don’t do business as everyone else is doing : You know what’s funny? I had noticed that businesses in India -more often than not, are run like jobs, complete with tea breaks, cigarette breaks and everything. Not funny. You’d do well not to be doing what so many people do everyday. Find 5 reasons as to why the customer should be coming back to you, each and every time. Differentiate or die. Brand yourself or get wiped away. Sell or get killed.

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