“Journey of a thousand miles begins with a single step”
A lot of people think and advocate that making a startup mainly needs courage, well if it is true then you need to be lucky enough. Many things need to be considered before showing courage.
“Unless you are a fortune teller, long-term business planning is fantasy”
The scope of your business plan should be SMART (Specific, Measurable, Achievable, Reliable, and Time-bound).
Modern business experts also recommend including “sustainability” in SMART plans.
Startups with plenty of resources provide a fallback cushion and give chances to learn from wrong decisions, however, making a bad decision requires re-design and re-done the job and it has a cost. What if the resources are limited and you need a successful execution of startup in one go without an unaffordable backfire? Here comes the need to consider many factors as mentioned in our other post (see advice in our other post – link).
“It’s not about ideas only. It’s about making them happen”
Always, consider which startup ideas suit you best in terms of your passion, personality type, academics, experience, and exposure, and are doable within available resources you have in terms of money, time, and energy.
The following quotes may help your girlfriend or boyfriend to set a mind-frame before jumping into the right idea for you:
- “Chase the vision, not the money. Money will end up following you”
- “If you believe in something, work nights and weekends. It won’t feel like working”
- “Success is not the key to happiness. Happiness is the key to success”
- If you love what you are doing, you will be successful”
- “Build your dreams, or someone else will hire you to build theirs
All the quotes translate into one thing, i.e. follow your passion and in the means available, something which makes you and your partner happy. And do it in a much better way than others around. Never try to plan needs you to over-stretch beyond your capacities. Start with demand analysis
Here are a few potential startup ideas that couples may need….
|Potential Domains:||Finance, Marketing, Sourcing, Training, HR, IT Services, Interior Designing, Fitness, Construction, Corporate Law. Anywhere you feel you have expertise.|
|Pros:||You can start working from home initially saving you a lot of money.|
|Cons:||You will need time to build on this business Gradually.|
|Where to Start from||Meet people around whom you know and have personal references, so get introduced to your target market. You may try approaching a PR Company. Go to seminars, workshops, and exhibitions besides visiting 2 to 5 prospective clients every day.|
Create Online Courses
|Potential Domains:||Technologies, especially web and app development, cloud computing, artificial intelligence, data sciences, graphic designing, animation, software engineering, and digital and social media marketing. Anywhere you know you can make great learning content.|
|Pros:||All you need is just a computer with an internet connection.|
|Cons:||To reach your target market, you will need a marketing budget here.|
|Where to Start from:||Research work about existing courses over the internet will be required to design your course in a better way than your competitors. If your course is well structured and well designed, you have better chances for prompt acceptance on well-known online learning websites and good prices in return.|
|Potential Domains:||Corporate Event Planner or Social Event Planner:(Seminars, Workshops, Conferences, Fund Raising Gala, Conventions, Trade Shows, Summits, Exhibitions, Social Event Planner (Wedding/Birthday/Anniversary parties, Fund Raising Gala, Sports Competitions, Arts showcasing, Product Launches|
|Pros:||You may need a small workplace.|
|Cons:||To reach your target market, you will need a marketing budget.|
|Where to Start from:||You will have to know who is providing this service in your city and how much they charge for every service. Make a list of services and staffing needs for each of the activities needed in event planning. You will have to visit the Hotels, Community Halls, Convention Centers, Caterers, and other vendors to know their pricing. Once this work is done, offer your services to the business and communities in your target market area at better and more competitive prices than the few already have earned the reputation in this. This research will help you also if you want to start a custom/specialized meals provider or general catering services.|
Repair, Fixing, and Care Services Provider
|Potential Domains:||Repair/Fixing/Care/Handyman services such as Plumber, Carpenter, Electrician, Gardener, Driver, Painter, Baby Sitter, and Technician are usually required to fix things at home or offices. Sometimes people needed such services on an hourly or temporary (just a few days basis i.e. Driver, Baby Sitter, Nurse, Patient Care, etc).|
|Pros:||You will be needing a small workplace.|
|Cons:||You will always have to keep a sufficient pool of people who will be available on call. You will need a marketing budget too.|
|Where to Start from:||Well analyze a demand, find such service providers individuals, scale their skills, negotiate, make an agreement, and market your offers.|
Open a café, saloon, or wellness center
You may choose to open a café, saloon, or wellness center. You may choose to offer all these services under one roof to mix your offers in a way that customers are enticed to avail of upselling offers.
|Taking such services is getting trendy and people are more becoming self-care conscious. Life is becoming too fast and competitive and people need such services quite often now.|
|This kind of startup needs quite a lot to acquire and renovate the place and for marketing.|
|Identify your target area and use internet and estate agent services to find a location somewhere in between residential communities and city centers. Establish/renovate this place in a way people love to visit frequently i.e. offer the products and services in a very gentle and cozy way.|
After you are done deciding what business you are going to start, you may need some advice on how to manage business and love together