Start-up Now – Easy steps to launch – How to start a start-up?

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How to start a startup in India – Start-ups are becoming popular in India. India is among the top start-up countries in the world with the 3rd highest number of unicorns. But it takes a lot of hard work and effort to start and run a start-up. After starting, making it successful is another milestone. Hence, it is not an easy task. However, with appropriate planning, a start-up can be founded and made successful. It requires brainstorming, planning, budgeting, etc. how to start a startup in india

How to start a startup in India

The start-up starts with an idea, and the process is to convert that idea into a business.

The following steps are required to form and run a start-up:

1- Start with an Idea

A start-up starts with a great idea! If you have an idea or looking for an idea, you need to refine it. It means when you get an idea, research about it. Check the existing business in the field, read their stories and experience, check the trends and customer’s demands, learn about the manufacturing/ execution methods, etc.

An idea is just the beginning. You need to define it into a business plan. Hence, you need to define your target audience, think about the costs, estimate time and manpower requirements, etc. Your product or service will only be successful if it has market demand. In case there is not much demand, either you need to wait it out or strategize to create its demand. It depends on your idea and the scale of operations you are thinking about.

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2- Convert your idea into a business plan

After you have finalized your business idea, you need to convert it into a business plan. From consumer research to costs analysis, you need to create a plan. A good plan is more important than a great idea. A good plan can make a not-so-good idea also work. Hence, plan even the smallest details and include them in your business plan.

Market research is the most important part of a business plan. Do consumer research as well as business research. You must know about the competition, expectations, targets, and opportunities before getting out in the market.

However, ensure that your business is within the legal framework of the country of operation.

How to start a startup in India

3- Legal status and requirements

After the planning and financing, you need to check and assess the legal requirements. You need to check the legality of your business, find out about the registration process, documents required, legal clauses in the field, etc. You may hire a legal firm to help you with the legal processes.

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4- Funding

After you have estimated your costs, you need to plan your finances. You may want to finance it through different channels like:

  • Business Loans
  • Angel Investors
  • Fund-raising
  • Government grants

You need to research the most suitable financing method or methods for your business. Check the terms and conditions that come with every type of finance. Ensure that there are no hidden costs or terms.

How to start a startup in India

5- Team Building

After all the planning and requirements, start building your team. Estimate the number of people required, define the roles in your business, and start hiring suitable people. You may rope in your acquaintances in your core team. However, you must hire specialized people to add value to your team.

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6- Finalize a location

Depending on your business requirement, you need to find a place for your work. If you are going into a manufacturing business, you need to find a plant. If you are a service provider, you may work from an office or home, depending on the size and suitability of your team.

You may also need to create an online presence. Every business needs a physical and online presence. Therefore, you must get your website online and make social media channels to promote your business.

How to start a startup in India

7- Marketing Plan

After finalizing all the physical details of your business, start with your marketing plan. You would need both offline and online marketing campaigns. Depending on the size of the operation, you may hire a marketing specialist or run the marketing campaign yourself. You will also need to research your competitor’s marketing strategy as well. You need to be different in your approach from your competitor. You may try different strategies, but they must resonate with your consumers.

8- Customer Base

Before launching your start-up, create a customer base. You can send free samples, offer discounts, take reviews or polls, personally reach out to people, etc., to build your customer base. It is essential that there are consumers who will buy your products when you launch your start-up. Therefore, you need to prepare a good customer base before you launch.

How to start a startup in India

9- Launch your start-up

It is time to launch your business after a lot of hard work! But after the launch, you need to keep your business running and grow it.

A start-up takes time to build. You have to go through multiple rounds of funding, bring new products, keep up with the market demands, etc. But start-ups can be successful, so never give up!

Must Read:National Startup Day in India

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