I strongly suggest you very strongly do not miss a single line of this article and understand the sequence which I am going to explain to you in this article.
In this article, I am going to explore how to start a business in India step by step with a checklist, so you must note down the essential points as well.
Just give me an answer to a question; is doing a startup in India easy or hard?
The answer will be different according to the situation, right? Some people will state starting a startup is hard and some will state easy, it depends on your mindset.
But when we get a proper guideline, roadmap, and mentorship, any type of phobia just goes away, and we can achieve a goal that we believe is impossible.
So, in this article, we are going to explore the step-by-step process of how to start a new business in India.
How to Start a Business in India
Now, you might be scared before starting a new business before you might have seen the failure of many small and big startups around you.
You think that despite a good amount of effort, XYZ person or team failed, so how can you do so, right?
But there are many reasons behind the failure. Well, it’s not the center point of our article, the center point of our article is how to do a startup in India and make it succeed by applying certain strategies.
Just keep one thing in your mind, whatever startup business you are going to do, the process must be clear in your mind.
You would have a proper plan about the execution, like what will you do first, what is next, what is next to next?
Along with what to do, you also have a proper agenda about how you will be doing the same. This strategy makes you free from repetition.
So, without wasting time, let’s dive into the process of starting a new business in India with assured success.
1. Ideation And Validating a Business
Ideation is a very crucial step. Whenever you think of starting up a successful business model, raising funds, and building a business of millions of dollars, the first step is getting the perfect business idea.
The business idea can not be generated by thinking about only your benefits. For that, you need to look around you for the problems which people are facing.
There are three basic steps to ideation for any concept.
- What problems you are solving
- How do you solve the problems
- Where does your idea impact
Then you need to validate your idea, whether it is problem-solving or not. See, you are supposed to evaluate your business idea.
Because if you are going to launch a product or service which is not impacting the people’s lives positively, it will not sustain, and not make revenue as well.
There are many ways to validate your business idea. You can create content around your business plan and share it with people via the internet.
Like, you can make videos and share, make graphics, reels, and textual content and share via different mediums to the people.
The response, feedback, and engagement of people will determine the worth of your business idea.
If there is a demand for such a thing in the market, and you make a video on it, then people will be searching for that, and start watching your videos and reading your blogs.
The content you publish on social media around your business idea will start getting more and more views.
By this strategy, you will come to know exactly that people are searching for this thing, and there is a genuine problem which the people are facing.
And this step is the most important step, before validating the startup, it is essential to validate the startup idea whether it is a global problem or just raised in your mind.
2. UI Creation
The second most important step is to create the complete and easy UI (User Interface).
In the current era, there are very very and very rare businesses that do not have an online presence, i.e. they do have no either a website or application.
Most startups deliver their services through the website, application, and software. Like Meesho, Paytm, Lenskart, and other business models.
With your online tool, the customers interact with your business, your services, and your products. So the UI of your tool must be user-friendly.
So, it is very important how you design your website or app and how you create the look and feel because the design of your product gets started from here.
Your UI includes many important aspects like how the journey of a user will be, which kinds of buttons will be there, what will be the look of your app, what will be the features and service, and how the customer will be paying.
Now, you can also create a good UI by using different tools like canva, but I suggest you don’t do it yourself.
Hire a UI expert who can create the same for you by taking care of every aspect at the micro-level, because when someone does any task by spending time, expertise, and specialty with experience, the outcomes are always best.
3. Minimum Viable Product Development : MVPD
For these steps, you will need the three types of software experts.
- Front End Developer
- Back End Developer
- Database Developer
The front end means the design of the pages of your website, which will be coded by the front-end developer.
The backend developer codes the logic and event process which decides what will happen when a user will take any action.
Database developer manages the data of your site on a cloud server of shared servers from where you can retrieve any data whenever you want.
4. Company Formation
You must not have seen a person without a name because each one needs his own identity.
Similarly, your business must have its own identity by which it can be known and identified, and for that, you need to do the company formation.
5. Marketing and Customers Onboard
Marketing can be done in two ways, online and offline. And you are supposed to use both ways.
In the current time, people make a very big mistake that they go for online marketing directly with the launch of the business.
See, online marketing is very best, but it doesn’t mean that you ignore offline marketing.
In the beginning, you need to cover and target the audience of your local area, win their trust, and then go for national and global customer acquisition.
In online marketing, there is a very needful aspect, and it is SEO and ASO.
SEO means search engine optimization and ASO means app store optimization.
Both aspects are needed for getting organic traffic from Google. By doing SEO and ASO, whenever a user searches for the query, your site or app is supposed to appear in the top ten results.
For SEO, you will need too much content, you are supposed to share the content around your products, problems, and solutions.
In online marketing, content marketing is very important, and the other one is influencer marketing.
Another most important thing is that almost all new startup beginners start online marketing with Google ads and Facebook ads.
Google ads and Facebook ads are beneficial for online marketing, but in the beginning, they are not recommended.
In the beginning, it is very beneficial if you market your business to an influencer. Because influencers have a huge bulk of trusted audience and it can boost your sales very quickly.
6. Content Marketing
Whenever you are going to start a new business in India, don’t miss content marketing.
Content marketing means educating your audience about your products and services.
How your products and services will be solving their problems, how it will be adding value in their lives, in addition, you need to share the product guide, buying guide, etc…
For example, if you are going to start a business selling ACs, you can create your website and YouTube channel.
In both sources, you can explain to your audience about different types of AC, energy stars of AC, rating of AC, what they should check while buying AC, and many points you can cover in your content marketing.
So, it is essential to create the best source of content marketing. Now it is not mandatory to start both; YouTube and Blog, you can do either of them as well with which you are good.
6. Running Ads
As I mentioned just above that you should not jump directly on the ads running while doing online marketing, right?
Now it’s the time to do so. When you start generating revenue from your business, website, or app, go for running online ads with different platforms.
You can use multiple platforms for running the ads like Google ads, Facebook ads, YouTube ads, and LinkedIn ads.
By using the ads, you can drive the massive instant traffic on your landing page by which you can boost your sales quickly.
But you need to make sure that you are analyzing your ads, how it’s performing, and how many sales you are getting from such ads.
I am sharing a ninja technique for running ads. While doing content marketing, judge which video or blog is having the most potential.
For example, you are sharing the content from a YouTube channel by making videos.
Now, check that which videos are getting the highest views and audience engagement, and run the ads by using that video i.e. invest in that video. It will be very beneficial for your business.
7. Arranging an Investment
For any business, investment is the very crucial part and here many startups go on the backfoot.
Because it is not necessary that if you are having a great business idea then you must have the investment also.
Here, if you don’t have enough investment but your business idea is very excellent, then there are many ways to arrange an investment.
You can apply for the business loan, mudra loan, or else you can present your business idea to the investors, and if they think your business idea is profitable and revenue generator, they may raise big funding for you as well.
Or else, if you don’t want to go for any of the above-mentioned ways, you can do a partnership with your friend or a person who is interested in executing your business idea as well.
8. Growth Process
The next step is the growth process in which you acquire more users, invest more money to grow your business exponentially.
Business is the stuff that can be grown only with teamwork, without teamwork, you can just run a business, you can not grow your business.
So that you have the teams for some essential tasks like you should have the:
- Sales Team
- Tech Team
- Content Team
- Operation Team
This team will be doing their dedicated tasks separately, and as a combination of their effort, your business will grow exponentially.
The main reason to develop these teams is to make every process of your business fully independent in itself.
Conclusion on How to Start a Business in India
Doing a startup in India is not a big deal if you are aware of all the do’s and dont’s, but if you are not aware, then you will come in the category of most startups that fail in the first year of starting.
Your marketing team must have full knowledge of your product, your website, and app navigation. So they can determine how to explain the prospects.
Moreover, it is strongly recommended to have enough financial and manpower backup while starting a new business.
Because at the beginning of the new business, you will not be getting the expected and desirable profit and revenue, and your business must be sustained till it starts to generate enough revenue.